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Hà Nội 16-06-2020 21:26


The success of brand Hyundai in Vietnam after 10 years of breakthrough from 2009 to 2019 has shown the preciseness and consistency in TC MOTOR's development strategy.

The success of brand Hyundai in Vietnam after 10 years of breakthrough from 2009 to 2019 has shown the preciseness and consistency in TC MOTOR's development strategy.

TC MOTOR officially distributed Hyundai passenger vehicles since 2009. After 10 years, Hyundai has ranked in the top 2 of passenger vehicle market share in Vietnam. The current success is achieved by having a drastic strategy and the determination and passion to contribute to the development of Vietnamese automotive industry. 

Consistent with production and assembly

When beginning distributing Hyundai cars in Vietnam, TC MOTOR only imported and distributed CBU models. If solely considering the matter of safeness in business, TC MOTOR can maintain that strategy to minimise risks. However, the leaders of this company dared to take risks and persuaded Hyundai in order to produce and assemble many Hyundai car models in Vietnam. 

In May 2011, TC MOTOR launched the first Hyundai Avante that was produced in Ninh Binh Manufacturing and Assembling Plant, marking a new chapter of Hyundai in Vietnam. The products are favoured by customers, the company kept expanding its dealer system across the country. At the same time, TC MOTOR was consistent with the strategy of domestic production instead of CBU importation. 

Avante, the first Hyundai model that was manufactured in Vietnam

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While many enterprises is shifting to importation, TC MOTOR is still consistent with its strategy of manufacturing. Thus, the company is not affected by other suppliers and still meet market’s and consumers' requirements.

The sales results of Grand i10 and Accent are evidences for the success of this strategy. After stopping importing and starting assembling at Ninh Binh factory, the A-segment hatchback and B-segment sedan have constantly increased their sales. Currently, Grand i10 is the king of sales in its segment while Accent is the best-selling model of TC MOTOR. These two models are even the two best-selling cars of the market. In 2018, the total sales of Grand i10 reached 22,068 and the total sales of Accent was 12,537 even though it was released in April 2018. By the end of July 2019, 9,783 units of Grand i10 and 10,408 units of Accent have been sold. 

In 2018, as AFTA Trade Agreement has started to take effect, many car models imported from ASEAN countries benefited from 0% importation tax rate. However, TC MOTOR still disrupted the market by achieving a growth rate of 100%. By actively manufacturing and distributing, this company did not face the situation of lacking suppliers like other competitors. Hyundai models such as Santa Fe, Tucson, Kona all have positive sales results compared to other CBU models. 

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Tucson and Elantra were distributed in Vietnam soon after being released in international market as TC MOTOR can actively assemble these models. 

When the market demand for Hyundai cars increased unexpectedly, there were times when the Manufacturing and Assembling Plant of Hyundai operated at its full capacity of 60.000 cars/year but it was still not enough to fulfill all market demands. In 2018, the management board of TC MOTOR decided to establish the second manufacturer in Ninh Binh in order to expand its production and satisfy all customers' needs. 

The activity of expanding its plant instead of importing allows the company to have a firm foundation to boost the development of Vietnamese automotive industry, increase the opportunities for the development of supporting industries and offer more occupation opportunities for local people. 

Listen to consumers

One action that creates the success of brand Hyundai as well as demonstrates the strategic vision of TC MOTOR is listening to consumers’ opinions and make suitable adaptations. 

With Grand i10, in early 2018, TC MOTOR equipped the automatic balancing system ESC, traction control system TCS and disc brakes on the rear wheels in order to consolidate the safety of this model. This is the first time that a small car model in segment A is equipped with features of higher segments. This innovation not only reinforces the position of Grand i10 but is also a meaningful upgrade for customers. 

With Accent, nearly a year after releasing, this model kept leading in sales and was upgraded with many new features. As the weather in Vietnam is extremely hot in the summer but this design still lacked a rear air-conditioner vent, TC MOTOR upgraded this model and equipped with rear air-conditioner vent. This innovation has increased the convenience of the car as well as the sense of comfortable for customers. When consumers’ demands for a beautiful design increases, TC MOTOR removed the traditional antenna and replaced with a shark fin antenna, which is more eye-catching. 

Upgrades are not only conducted on these two models but also on other models such as Santa Fe, Tucson, Elantra, Kona in order to meet customers' demands. These updates could be listed as full LED lighting system, seat cooling system, tire pressure sensor system,... Results have shown that Hyundai models are always on the top best-selling cars of their segments. 

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Mr. Nguyen Anh Tuan (second man from the left), the President of Thanh Cong Group

received the Distributor Of The Year Award in 2018 with the two representatives of Hyundai in Russia and Hyundai in Puerto Rico