Czech’s Skoda Auto revs up first sales in Vietnam

By Tri Duc
Tue, September 26, 2023 | 10:43 am GMT+7

Skoda Auto officially launched the sale of its vehicles in Vietnam on Monday, the Czech automaker said.

The move is an important step for Skoda Auto as part of its internationalization strategy in cooperation with TC Group, a Vietnamese automobile producer and assembler, which was initiated in October 2022.

Skoda holds a ceremony for its Vietnam debut in Hanoi on September 23, 2023. Photo courtesy of TC Group.

Skoda holds a ceremony for its Vietnam debut in Hanoi on September 23, 2023. Photo courtesy of TC Group.

Skoda plans to rapidly expand its dealer network to 20 partners by 2025 and 30 by 2028, towards annual sales of 40,000 units from 2030. The automaker regards Vietnam as a gateway to enter the promising ASEAN region, it said in a release.

Skoda’s first models in Vietnam, namely the Karoq and Kodiaq, both sport utility vehicles (SUVs), will be imported from Europe. Skoda targets local production of complete knock-down (CKD) automobiles from 2024 in a bid to utilize Vietnam’s proximity to India, another production hub.

The Skoda Karoq. Photo courtesy of TC Group.

The Skoda Karoq. Photo courtesy of TC Group.

Starting in the second half of 2024, Skoda will be transporting the first Kushaq vehicles from the Pune facility in India to Vietnam for assembly from CKD kits, with the Slavia model set to follow in 2025.

Construction of a production line at the $500-million Viet Hung Industrial Park in Vietnam’s northern province of Quang Ninh by TC Group is already underway. Based on market trends, the automaker holds ambitions to ramp up production, potentially assembling 27,000 vehicles annually after 2027.

The 36.5-hectare factory, Skoda’s first in Southeast Asia, is set to churn out its first vehicles by the end of 2024, and then eco-friendly electric vehicles in 2026.

The Skoda Kodiaq. Photo courtesy of TC Group.

The Skoda Kodiaq. Photo courtesy of TC Group.

Skoda also highlighted the high potential of the Vietnamese market. At present, Vietnam is the fourth strongest automotive market in Southeast Asia, with only 38 vehicles per 1,000 inhabitants in a population of roughly 100 million people, amid anticipated strong economic growth.

Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 184,554 vehicles in Jan-Aug this year, down 30% year-on-year.

Hyundai reported sales of 35,191 units in January-August, according to a report by TC Group, the manufacturer and official retailer of Hyundai vehicles in Vietnam. Its August sales figure was 3,145 units.

As a result, Hyundai was the best-selling brand in Vietnam in the first eight months of this year. Other top names were Toyota with 34,372; Ford with 23,366; Mitsubishi with 18,783; and Honda with 12,516.

Comments (0)
  • Read More
Viglacera to expand industrial park portfolio with new subsidiary in northern Vietnam

Viglacera to expand industrial park portfolio with new subsidiary in northern Vietnam

Viglacera, Vietnam's leading construction material producer and industrial real estate developer, will set up a company in the northern province of Hung Yen to expand its industrial park portfolio.

Industrial real estate - Fri, June 20, 2025 | 9:24 am GMT+7

Vietnam’s leading expressway builder VEC secures huge capital boost

Vietnam’s leading expressway builder VEC secures huge capital boost

State-owned expressway developer Vietnam Expressway Corporation (VEC) has been approved to have its charter capital increase by VND38.25 trillion from the 2023 level to VND39.4 trillion ($1.57 billion) for the 2024-2026 period.

Companies - Fri, June 20, 2025 | 8:40 am GMT+7

Indonesia invites Dutch firms to join Java giant sea wall project

Indonesia invites Dutch firms to join Java giant sea wall project

Indonesian Coordinating Minister for Infrastructure and Regional Development Agus Harimurti Yudhoyono has invited Dutch business actors to support its project to build a giant 500km sea wall along Java’s northern coastline - one of President Prabowo Subianto’s initiatives.

Southeast Asia - Thu, June 19, 2025 | 11:35 pm GMT+7

Sun Group subsidiary okayed as investor of Phu Quoc International Airport expansion project

Sun Group subsidiary okayed as investor of Phu Quoc International Airport expansion project

Sun Airport Corporation, a subsidiary of Sun Group, has been approved as investor of the Phu Quoc International Airport expansion project in southern Vietnam.

Companies - Thu, June 19, 2025 | 11:13 pm GMT+7

Construction major Xuan Truong looks to build airport in northern Vietnam

Construction major Xuan Truong looks to build airport in northern Vietnam

Xuan Truong, a prominent Vietnamese construction firm, has proposed developing an international airport in Nam Dinh province, which will be merged with Ninh Binh and Ha Nam provinces this year.

Infrastructure - Thu, June 19, 2025 | 4:56 pm GMT+7

International financial center to significantly facilitate global capital access for Vietnam: StanChart exec

International financial center to significantly facilitate global capital access for Vietnam: StanChart exec

An international financial center could significantly improve access to global capital for Vietnamese enterprises, especially if it is managed by a unified regulatory body, said Nguyen Thuy Hanh, CEO and head of Banking and Coverage at Standard Chartered Vietnam.

Economy - Thu, June 19, 2025 | 4:09 pm GMT+7

Southern Vietnam's incomplete VSIP Can Tho Industrial Park attracts $300 mln in FDI

Southern Vietnam's incomplete VSIP Can Tho Industrial Park attracts $300 mln in FDI

VSIP Can Tho Industrial Park, located in the Mekong Delta city of Can Tho, has attracted four tenants, with total registered investment capital of $300 million, despite it still being under construction.

Industrial real estate - Thu, June 19, 2025 | 3:09 pm GMT+7

AIA honors outstanding healthiest schools - Season 3

AIA honors outstanding healthiest schools - Season 3

Sowing the seeds of healthy living habits for future generations is the inspiring goal of the AIA Healthiest Schools (AHS) initiative, launched by AIA Group across the Asia-Pacific region.

Companies - Thu, June 19, 2025 | 1:47 pm GMT+7

Indonesia, EU establish special desk to boost European investment

Indonesia, EU establish special desk to boost European investment

Indonesia and the EU have established a special desk to facilitate investment from EU countries in Indonesia, according to Indonesia's Investment Minister Rosan Roeslani.

Southeast Asia - Thu, June 19, 2025 | 1:22 pm GMT+7

ASEAN reaffirms commitment to advancing green energy agenda

ASEAN reaffirms commitment to advancing green energy agenda

The 43rd ASEAN Senior Officials Meeting on Energy (SOME), held from June 16-18, marked a significant milestone as member states reached consensus on key strategic agendas to deepen regional energy cooperation.

Southeast Asia - Thu, June 19, 2025 | 1:19 pm GMT+7

Thailand to submit formal trade proposal to US

Thailand to submit formal trade proposal to US

Thailand's Deputy Prime Minister and Finance Minister Pichai Chunhavajira confirmed on Tuesday that the country will submit its formal trade proposal to the U.S. this week, with the first round of discussions to take place online.

Southeast Asia - Thu, June 19, 2025 | 1:15 pm GMT+7

Vinhomes subsidiary plans $35 mln golf course in northern Vietnam

Vinhomes subsidiary plans $35 mln golf course in northern Vietnam

A subsidiary of leading housing developer Vinhomes (HoSE: VHM) plans to build a VND886.5 billion ($35 million) golf course in Vietnam’s northern coastal province of Quang Ninh.

Real Estate - Thu, June 19, 2025 | 1:08 pm GMT+7

More AI will be used to identify tax fraud: Vietnam Minister of Finance

More AI will be used to identify tax fraud: Vietnam Minister of Finance

More artificial intelligence (AI) will be used to detect tax fraud and verify income of organizations and individuals that arises from digital platforms, said Minister of Finance Nguyen Van Thang.

Economy - Thu, June 19, 2025 | 12:12 pm GMT+7

HCMC set to become Southeast Asia’s global megacity: Party leader

HCMC set to become Southeast Asia’s global megacity: Party leader

Ho Chi Minh City will become "a global megacity of Southeast Asia" after its meger with Binh Duong and Ba Ria-Vung Tau provinces, said Vietnam’s Party chief To Lam.

Economy - Thu, June 19, 2025 | 8:20 am GMT+7

Proactively managing risk in volatile times

Proactively managing risk in volatile times

For business leaders, the question is not whether the next disruption will come, but whether your organizations will identify and adjust the risks that it brings, writes Douglas Matheson, chief risk and compliance officer at HSBC Vietnam.

Consulting - Thu, June 19, 2025 | 7:47 am GMT+7

Savills expert points out three drivers of FDI attraction in Vietnamese real estate

Savills expert points out three drivers of FDI attraction in Vietnamese real estate

Vietnam’s real estate market is on the cusp of a boom in H2, fueled by sweeping legal reforms, proactive economic diplomacy, and a pivot toward emerging segments and flexible partnership models, said head of investment consulting at Savills Hanoi Nguyen Le Dung.

Companies - Wed, June 18, 2025 | 10:48 pm GMT+7