With the goal of providing comprehensive solutions aimed at ensuring customer satisfaction throughout their journeys and promoting sustainable business practices, over the past few years, Toyota Vietnam has focused on innovating technologies and enhancing the skills of its workforce, which enables the company to produce high-quality vehicles and establish its factory as one of the top-performing Toyota facilities in the Asia-Pacific region. As of July 2024, Toyota Vietnam works with 60 parts suppliers, 11 of which are located in Vinh Phuc, helping to achieve a localization rate of over 40%. The company operates 86 dealerships across 48 provinces and cities in Vietnam, employing more than 1,500 people, about 1,200 of whom live in Vinh Phuc. In 2023, Toyota sold nearly 60,000 vehicles and manufactured around 26,500. In the first seven months of 2024, they sold 28,926 vehicles (excluding Lexus), maintaining their status as the market leader in Vietnam.
Toyota Vietnam continues to assert its leading position in the Vietnamese market
Since arriving in Vinh Phuc in March 2005, over nearly 30 years, Honda Vietnam has also experienced significant growth, establishing itself as a key player in the motorcycle and automobile sectors to meet consumer demand. From its first motorcycle model introduced to the market, the Super Dream, to now, Honda Vietnam has produced, imported and distributed 27 models, including scooters and manual motorcycles. In the automobile sector, with the motto “The Power of Dreams” and the vision of “Striving to be a company that society wants to exist,” Honda Vietnam has successfully operated a state-of-the-art manufacturing plant utilizing advanced technology and production process where components and parts are managed with strict quality control.
To date, Honda Vietnam offers six car models, including two produced domestically: the City and CR-V, as well as four imported models: the Honda Civic, Honda Accord, Honda HR-V, and Honda BR-V, all of which cater to diverse customer needs. The company boasts 42 distributors that adhere to 5S standards, ensuring 100% service quality according to Honda’s criteria. Additionally, to secure a steady supply of raw materials for their vehicles, Honda collaborates with 140 parts suppliers, sourcing 100% of plastic and rubber components, 90% of metal parts, and 80% of electronic components from domestic manufacturers and approximately 20% of electronic components purchased through trading companies. The localization rate for motorcycle production is approximately 96%, while it stands at nearly 2% for automobiles.
The growth of these two leading companies has significantly impacted the socio-economic development of Vinh Phuc Province. According to the provincial People's Committee, Toyota Vietnam and Honda Vietnam have consistently played crucial roles in driving economic growth and increasing local budget revenue since the province’s re-establishment 27 years ago. For instance, in 2020, Vinh Phuc’s total domestic budget revenue reached VND 27.85 trillion, with Toyota and Honda Vietnam contributing VND 17.64 trillion, accounting for 63.3%. In 2023, their contribution was VND 15.43 trillion out of VND 25.62 trillion, making up 60.2%; and in the first half of 2024, they contributed VND 6.89 trillion out of VND 13.1 trillion, representing 52.6%.
Beyond promoting production and business, both companies are also committed to social responsibility, engaging in various initiatives in traffic safety, education, environmental protection, and social welfare. Their efforts contribute to the socio-economic development and ensuring social security of Vinh Phuc Province and the nation as a whole.
To date, Honda Vietnam offers six car models, including two produced domestically: the City and CR-V, as well as four imported models: the Honda Civic, Honda Accord, Honda HR-V, and Honda BR-V, all of which cater to diverse customer needs. The company boasts 42 distributors that adhere to 5S standards, ensuring 100% service quality according to Honda’s criteria. Additionally, to secure a steady supply of raw materials for their vehicles, Honda collaborates with 140 parts suppliers, sourcing 100% of plastic and rubber components, 90% of metal parts, and 80% of electronic components from domestic manufacturers and approximately 20% of electronic components purchased through trading companies. The localization rate for motorcycle production is approximately 96%, while it stands at nearly 2% for automobiles.
The growth of these two leading companies has significantly impacted the socio-economic development of Vinh Phuc Province. According to the provincial People's Committee, Toyota Vietnam and Honda Vietnam have consistently played crucial roles in driving economic growth and increasing local budget revenue since the province’s re-establishment 27 years ago. For instance, in 2020, Vinh Phuc’s total domestic budget revenue reached VND 27.85 trillion, with Toyota and Honda Vietnam contributing VND 17.64 trillion, accounting for 63.3%. In 2023, their contribution was VND 15.43 trillion out of VND 25.62 trillion, making up 60.2%; and in the first half of 2024, they contributed VND 6.89 trillion out of VND 13.1 trillion, representing 52.6%.
Beyond promoting production and business, both companies are also committed to social responsibility, engaging in various initiatives in traffic safety, education, environmental protection, and social welfare. Their efforts contribute to the socio-economic development and ensuring social security of Vinh Phuc Province and the nation as a whole.
Thanh Nga
