Local auto maker Thaco posts record revenue of over $3 billion

Truong Hai Auto Corporation (Thaco) posted a record revenue of 65.8 trillion VND (3 billion USD) in 2016, a growth of 44 percent against the previous year.

Thanks to its efforts to raise locally made contents and the Government’s support, the company enjoyed a post-tax profit reached nearly 7.9 trillion VND (348 million USD).

It also contributed 18 trillion VND (793 million USD) to the State budget, an increase of 4.2 trillion VND over 2015.

Last year, Thaco sold 110,548 vehicles, up 37 percent against 2015, accounting for 41.5 percent of the Vietnam Automobile Manufacturers’ Association (VAMA) members’ sales.

Consting of Thaco KIA, Thaco Bus, Thaco Truck, VinaMazda and Peugeot, the company is now leading the market with 32 percent of the share.

VNA