PEUGEOT begins operations in Vietnam

Nine months after the signature at Ho-Chi-Minh City of a partnership agreement (for import, distribution and assembly), PEUGEOT and the Vietnamese THACO Group are today celebrating in Hanoi the launch of the PEUGEOT brand in Vietnam with the PEUGEOT 408, produced locally at THACO’s Chulai plant in the Danang region. The 408 as a start in a strategic segment of the Vietnamese market With the start of production of the PEUGEOT 408, of which 261,000 thousand units have already been produced and sold over three continents, PEUGEOT and its partner THACO (Truong Haï Auto Corporation), the leader in the Vietnamese vehicle market, are attacking straight away a strategic segment that represents 22 % of sales in the Vietnamese car market. Production and sales of 10,000 cars in the period 2014-2017 are foreseen by the 408 project team. Premium positioning with a top-end range of imported vehicles The PEUGEOT 408 will spearhead a range constructed to position PEUGEOT as a premium brand in the Vietnamese market. With its refined design, tight lines and distinctive styling, the 408 resolutely asserts itself as a sedan of status. Powered by a 2.0 litre engine that develops 143 hp and a 6-speed automatic gearbox, the 408 will offer Vietnamese customers record spaciousness in its segment as well as unequalled active and passive safety, with 6 airbags and ESP fitted as standard. Vietnamese customers will find in the 408 the irreproachable handling and driving pleasure that are the hallmark of PEUGEOT vehicles. During the second quarter of 2014, the PEUGEOT 408 will be joined by a range of selective and top-end imported vehicles, comprising 208, 5008, 508 and RCZ. At the end of the year, a second locally assembled vehicle will be added to the range, so as to provide a full offering to a dealer network that is growing strongly. A distribution network that is growing quickly, for ambitious sales plans The PEUGEOT range will be distributed through a dealer network that already has 5 dealerships providing sales and service to the brand’s highest international standards (Blue Box), covering the regions of Hanoi (the capital city) and Ho-Chi-Minh City. By 2015, ten more sales and service dealerships will be opened. In this way, within ten years the whole country will be covered by a dealer network spread evenly over the north and south. With the help of the industrial and commercial arrangements put in place, and in a market where strong growth is expected, PEUGEOT is aiming at an annual volume of 15,000 cars by 2020 and for a market share of 5 %. Source: PEUGEOT