The BMW X2 model will be introduced in the Vietnam market starting from September 2018. (Photo courtesy Thaco) Hanoi (VNA) - Local car maker Truong Hai Auto Company (THACO) will introduce the BMW X2 model in Vietnam, just one year after the vehicle first debuted at the Los Angeles Auto Show in the US in 2017. THACO said the newest cross-over model and other imported BMW X1, BMW 118i and BMW 218i have been shipped to Vietnam for the official curtain-raising event this September. It also said BMW X2 will offer three classes including Base, M-Sport and M Sport X for Vietnamese customers. According to the company, further models — notably the BMW 7 Series 740Li, 750Li and M760Li X Drive — will be arriving in Vietnam for show-off events later this year. THACO has been the new official importer of BMW and MINI vehicles in Vietnam following a cooperation deal with the German giant car maker signed in January of 2018. The price of the newly imported … [Read more...] about Local car maker to introduce latest BMW models
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Latest BMW models to debut in Viet Nam
The BMW X2 model will be introduced in the Viet Nam market starting from September 2018. — Photo courtesy Thaco Local car maker Truong Hai Auto company (THACO) will introduce the BMW X2 model in Viet Nam, just one year after the vehicle first debuted at the Los Angeles Auto Show in the US in 2017. Thaco said the newest cross-over model and other imported BMW X1, BMW 118i and BMW 218i have been shipped to Viet Nam for the official curtain-raising event this September. It also said BMW X2 will offer three classes including Base, M-Sport and M Sport X for Vietnamese customers. According to Thaco, further models — notably the BMW 7 Series 740Li, 750Li and M760Li X Drive — will be arriving in Viet Nam for show-off events later this year. Thaco has been the new official importer of BMW and MINI vehicles in Viet Nam following a co-operation deal with the German giant car maker signed in January of 2018. A BMW 7 Series model is planned to officially debut later in 2018. … [Read more...] about Latest BMW models to debut in Viet Nam
South Korea to launch probe into BMW over alleged delayed recall
South Korea will launch an investigation into BMW, a minister said Friday (Aug 3), over an alleged delay in recalling more than 100,000 cars following a spate of engine fires. At least 28 BMW cars have caught fire this year in South Korea, according to media reports. (Photo: AFP/Saul Loeb) At least 28 BMW cars have caught fire this year in South Korea, according to media reports, forcing the German automaker to issue a recall last week to fix a faulty component that was aimed at reducing emissions from diesel engines. But angry customers have launched a class-action lawsuit against the company alleging that it was slow to respond to the fires, prompting the authorities to probe the matter. "We will investigate the fires of BMW vehicles thoroughly and transparently", Transportation Minister Kim Hyun-mee said, adding that the probe would examine whether the company had reacted properly to the accidents. "If any problems are found, we will take stern measures", Kim said in a … [Read more...] about South Korea to launch probe into BMW over alleged delayed recall
BMW recall of 470 cars in Vietnam may be due to fire risk
German car manufacturer BMW’s sudden recall of 470 cars in Vietnam may be related to the car giant’s re-exporting of 88,000 vehicles in the UK due to fire risk. BMW cars at Cai Mep Port. Photo: tienphong.vn AFP stated that on May 18, BMW expanded a British safety recall for another 88,000 vehicles because of a fire risk. At the same time, BMW Asia Group made a press statement announcing to re-export 470 cars, 106 MINI vehicles, and 55 motorcycles (BMW Motorrad) from Vietnam back to Germany. Accordingly, these vehicles are still in containers at VICT (Ho Chi Minh City) and Cai Mep Port (Ba Ria-Vung Tau). “The Vietnamese General Department of Customs approved BMW and BMW Asia to re-export these vehicles back to Germany. Currently, we are tightly co-operating with the Ho Chi Minh City Customs and the Ba Ria-Vung Tau Customs to complete procedures to recall these BMW vehicles,” stated BMW Asia’ press release. However, the press release did not … [Read more...] about BMW recall of 470 cars in Vietnam may be due to fire risk
BUSINESS IN BRIEF 16/1
Survey helps HCM City plan policyThe 2017 Economic Survey in HCM City has provided basic data about the number of enterprises, workers, the economic efficiency of companies and administrative units and proportion of information technology application, delegates heard at last Friday’s meeting to review the survey.“Such data will be a foundation for city authorities to build action plans and set up policies for socio-economic development in an effort to encourage modern science and technology application in all economic industries and administrative units,” Lê Thanh Liêm, vice chairman of the municipal People’s Committee and head of the Steering Committee for 2017 Economic Survey said.According to the results of the survey, HCM City now has 633,637 economic, administrative and religious units, an increase of 27 per cent in comparison with 2011.Of this amount, there are 173,000 enterprises, an increase of 62 per cent in comparison with 2011 and non-State … [Read more...] about BUSINESS IN BRIEF 16/1
THACO aims to open 15 BMW, MINI showrooms
THACO Chairman Tran Ba Duong told a re-launching ceremony of the BMW, MINI and BMW Motorrad brands distributed by THACO in Vietnam held recently in HCM City.Duong said THACO has taken over a number of the former distributor’s facilities, machinery and equipment, including inheriting warranty and after-sales services such as two BMW showrooms at Long Bien (Ha Noi) and Phu My Hung (HCM City), and a MINI showroom in HCM City.“THACO has imported to Vietnam new BMW and MINI models, such as the BMW 3 Series, BMW 5 Series, BMW 7 Series, BMW X1, BMW X3, BMW X5, BMW X6; MINI Cooper, MINI Countryman, MINI Clubman and powerful Motorrad models,” he said.Paul de Courtois, Managing Director, BMW Group Asia, said “Vietnam has been, and still remains, one of the most important and promising markets for BMW Group Asia. We are committed to rebuilding the BMW and MINI brands in Vietnam in close collaboration with THACO.“More importantly, we are also looking forward to … [Read more...] about THACO aims to open 15 BMW, MINI showrooms
BUSINESS IN BRIEF 4/1
Processing, manufacturing firms expect better business in 2018 Q1Up to 48.2 percent of the processing and manufacturing enterprises joining in a survey of the General Statistics Office (GSO) said business activities in the first quarter of 2018 will be better. Long An to increase aquaculture area in 2018Viettel earns nearly 2 billion USD profit in 2017Can Tho prioritises bonds with firms from US, Japan, RoKDong Nai calls for high-tech, environmentally-friendly FDI projectsVietJet receives first A321neo aircraftHCM City firms ready for TetMeasures sought for sustainable tourism developmentQuang Ninh province attracts 60.6 trillion VND in investmentsPetrol prices stable, oil prices slightly increaseTrade fair promoting Thai products launched in HanoiEVN aims to raise Vietnam’s ranking in electricity access indexMade-in-Thailand Outlet exhibition opens in capital city Nearly 100 firms to participate in Vietship 2018 TMV to recall over 8,000 … [Read more...] about BUSINESS IN BRIEF 4/1
Thaco’s first batch of BMW, MINI cars arrive in Vietnam
At the same time, it signed a letter of intent on cooperation choosing Thaco as a new dealer of BMW, MINI and BMW-Motorrad in Vietnam from January 1, 2018.BMW is a renowned automobile-motorbike maker with three fascinating brands: BMW, MINI and Roll-Royce. It has 30 production and assembling establishments in 14 countries and its distributing system covers 140 markets worldwide.Thaco, established in 1997, focuses on the production, assembly and distribution of commercial cars for Kia (the Republic of Korea), Mazda (Japan) and Peugeot (the EU).Its production base covers an area of 400 hectares in Chu Lai Open Economic Zone in Quang Nam province with six automobile assembling facilities, 12 support industry plants and one Research and Development centre. Thaco has 97 showrooms and 59 distribution agents nationwide. Thaco is currently leading car sales in Vietnam, occupying 40%-42% of the market share during 2015-2017. … [Read more...] about Thaco’s first batch of BMW, MINI cars arrive in Vietnam
Thaco’s first BMW and MINI cars shipped
The first 55 cars of Truong Hai Automobile Joint Stock Co (Thaco), including 21 BMW-branded cars and 34 MINI-branded cars, have officially shipped to Viet Nam for year-end distribution.In addition to already successful cars in Viet Nam, such as the BMW 3 Series, some other sports cars such as the 4 Series (including the 430i Grand Coupe), 528i GT and especially the high-end SUV line, X5, will be released. Under the MINI brand, the arriving shipment includes the Cooper, Cooper S and Countryman.The new version of the MINI Countryman, appearing in Viet Nam for the first time, is equipped with outstanding features compared with the old version.The most interesting addition to the Countryman portfolio is potentially the Cooper S ALL4 version, with intelligent powertrain distribution for all four wheels.Almost four months have passed since BMW Group Asia announced the end of co-operation with Sime Darby, the investor of Viet Nam Euro Automobiles Corp (EAC), and signed a letter of … [Read more...] about Thaco’s first BMW and MINI cars shipped
Euro Auto CEO arrested
Euro Auto CEO arrestedHung Le HCMC - The Police Department for Prevention of Economic Crime and Corruption (C46) under the Ministry of Public Security on April 27 arrested Nguyen Dang Thao, CEO of Euro Auto, over alleged charges of smuggling, according to the Vietnam News Agency. Thao took up the post of CEO of Euro Auto on November 1, 2015. He joined the company in September 2009 as director of sales and marketing. Thao has had about 20 years of experience in the automotive industry at home and abroad, including more than 14 years working in the luxury car segment. At present, Euro Auto is the authorized importer and distributor of three luxury car brands in Vietnam – BMW, BMW Motorrad and MINI. On November 30, 2016, the Ministry of Finance sent Official Letter 17041/BTC-VP to the General Department of Customs on prevention of smuggling and trade fraud in automobile import. Through inspections, Euro Auto was allegedly found to commit wrongdoing. The company had been selling … [Read more...] about Euro Auto CEO arrested