The Vietnamese automobile distributor Tasco has bought out Sweden Auto, which is the sole distributor of Volvo cars in Vietnam on 8 July 2024. This strengthens Tasco Auto’s position as Vietnam’s largest automotive distributor.
Sweden Auto has four Volvo dealerships in Hanoi, Ho Chi Minh City and Danang and a network of 90 showrooms nationwide.
Five years ago Sweden Auto started dealing with Volvo cars and reported a profit before taxes of US $2.1 million in 2023. In the first five months of 2024 the sales have already almost doubled. In May Volvo cars made up 14 percent of Vietnam’s luxury car market.
Source: Vietnam Investment Review
