Czech’s Skoda Auto revs up first sales in Vietnam
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 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.
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.
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.
- Related News
- Read More
Amid the rise of e-commerce, physical retail remains resilient
Shifting the focus from purchasing to experience-led environments that are engaging creates compelling reasons for visitors to stay longer, return more often, and ultimately drive footfall beyond products alone, write Savills Vietnam analysts.
Consulting - Tue, December 30, 2025 | 3:14 pm GMT+7
Vietnam competition watchdog summons VNG over Zalo user data terms
The Vietnam Competition Commission (VCC) has summoned tech unicorn VNG (UPCoM: VNZ) after its messaging app Zalo abruptly updated its terms of service, requiring users to agree or face account deletion.
Companies - Tue, December 30, 2025 | 2:36 pm GMT+7
Taseco Land rides investment wave, expands industrial property footprint in northern Vietnam
Amid the continued rise of FDI inflows into Vietnam and the ongoing shift of global supply chains, Taseco Land is gradually affirming its role as a long-term, strategically oriented industrial park developer.
Companies - Tue, December 30, 2025 | 1:39 pm GMT+7
Vietnam’s pharma export hits $312 mln in 2025, ranking 4th in Southeast Asia
Vietnam’s pharmaceutical market is maintaining steady annual growth of 6-8%, with total market value projected to rise from about $2.7 billion in 2015 to around $8 billion by 2026, making the country one of Asia’s fastest-growing drug markets, the Drug Administration of Vietnam reported.
Economy - Tue, December 30, 2025 | 1:13 pm GMT+7
FPT Telecom sets sights on top spot in Vietnam’s internet TV market
By securing exclusive rights to broadcast the English Premier League (EPL), FPT Telecom has underscored its ambition to become Vietnam’s leading internet television and digital services provider.
Companies - Tue, December 30, 2025 | 11:53 am GMT+7
Vietnam's credit growth to hit 19% in 2025, highest in many years: central bank
Vietnam’s credit growth has reached one of its highest levels in years, pushing the country’s credit-to-GDP ratio to the highest among lower-middle-income economies, according to the central bank.
Economy - Tue, December 30, 2025 | 8:51 am GMT+7
Novaland shares hit ceiling price after HCMC project resumption
NVL shares of Novaland, one of the major real estate developers in Vietnam, hit its ceiling price of VND14,150 ($0.54) on Monday, following news that its The Park Avenue project in Ho Chi Minh City resumed construction after eight years of delay.
Real Estate - Mon, December 29, 2025 | 10:16 pm GMT+7
Indonesia promotes waste-to-energy conversion
Facing mounting pressure from the rapid growth of household waste, Indonesia is accelerating initiatives to convert waste into energy (WtE) as a key pillar of its green growth and circular economy strategy.
Southeast Asia - Mon, December 29, 2025 | 8:01 pm GMT+7
Create Capital Vietnam, Haimaker.ai plan $1 bln AI data center network
Create Capital Vietnam (HoSE: CRC) and Haimaker.ai have unveiled plans to develop a nationwide network of AI-focused data centers in Vietnam, with a total designed capacity of 100 megawatts and investment of about $1 billion.
Industries - Mon, December 29, 2025 | 7:37 pm GMT+7
VinSpeed begins survey work for $5.3 bln high-speed railway in northern Vietnam
VinSpeed, a rail company founded by Vingroup chairman Pham Nhat Vuong, has begun survey work in Vietnam’s northern province of Bac Ninh for a proposed $5.3 billion high-speed railway linking Hanoi with the northern port province of Quang Ninh, local authorities said.
Infrastructure - Mon, December 29, 2025 | 4:42 pm GMT+7
Sacombank stake sale could be accelerated: broker
Broker Vietcap says the appointment of Nguyen Duc Thuy as acting CEO of Sacombank could signal more positive progress toward the long-delayed sale of a 32.5% stake in the lender currently held by the Vietnam Asset Management Company (VAMC).
Finance - Mon, December 29, 2025 | 4:15 pm GMT+7
Northern Vietnam province Hung Yen eyes building int’l airport after 2030
Hung Yen province, home to the $1.5 billion Trump International Hung Yen project, has proposed developing an international airport as part of its priority investment list for the 2026-2030 period, with a vision to 2050.
Infrastructure - Mon, December 29, 2025 | 4:01 pm GMT+7
Capital-raising race redraws Vietnam’s brokerage landscape
Vietnam’s securities firms are stepping up a race to raise capital to seize opportunities from the market’s upcoming status upgrade, with brokerages backed by parent banks gaining a clear edge.
Finance - Mon, December 29, 2025 | 3:44 pm GMT+7
Property 'heat' seen in central HCMC, outlying areas with good infrastructure
The heat in Ho Chi Minh City’s property market continues to be concentrated in the city center and selected outlying areas with well-developed infrastructure or projects backed by major developers like the Can Gio area.
Real Estate - Mon, December 29, 2025 | 2:18 pm GMT+7
HCMC real estate gains appeal as International Financial Center to take shape
With the establishment of an International Financial Center, Ho Chi Minh City will form an elite community of entrepreneurs and professionals from around the globe. This is very attractive for real estate investors, says architect Truong Van Quang, deputy secretary general of the Vietnam Urban Planning and Development Association (VUPDA).
Real Estate - Mon, December 29, 2025 | 8:00 am GMT+7
Taseco Group marks 20th anniversary, receives Second Class Labor Medal
Taseco Group in December 20 celebrated its 20th anniversary and received the Second Class Labor Medal – a prestigious award from the Party and State recognizing the company's outstanding contributions to socio-economic development.
Companies - Sun, December 28, 2025 | 12:55 pm GMT+7
