Peugeot announces its return to Vietnam
More News from Agence France-Presse
PARIS—French automaker Peugeot announced Monday that it was returning to Vietnam with the creation of a distribution network and local production of its 408 model along with a Vietnamese partner, Thaco.
A Peugeot statement said that it would set up six dealerships in Vietnam, a former French colony, three in the northern region around Hanoi and three in the southern region of Ho Chi Minh City, and added that the network could eventually comprise 15 sites in all.
Peugeot was present in Vietnam through the 1980s before withdrawing from the country.
The 408 that is slated to be built there is a saloon (sedan) model that is already sold in China and Latin America, and Peugeot expects to locally produce around 80 percent of all the vehicles it sells in Vietnam, owing in large part to high customs duties, a spokesman said.
According to the French group, 80,000 new cars were sold in Vietnam last year, and the market is estimated to grow to 300,000 by 2020, with Peugeot hoping to account for five percent of the total.
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94