April 21, 2008
Hino Motors, Ltd. to enter the Vietnamese light-duty truck marketHino Motors, Ltd. (Hino) has decided to put its “HINO 300 Series” light-duty trucks into the Vietnamese market. The company recently began selling the trucks, which are known in Japan as Hino Dutro, through its production and sales subsidiary, Hino Motors Vietnam, Ltd. (Hino Vietnam).
In recent years, the market for new trucks and buses in Vietnam has been rapidly expanding. This is due to an increase in the volume of commodity distributions fuelled by the Vietnamese economic boom alongside a growth in demand for new vehicles resulting from tighter restrictions on used vehicle imports.
Since the establishment of Hino Vietnam in 1996, Hino has sold heavy and medium-duty trucks and large and medium-sized buses, achieving great popularity among the company’s Vietnamese customers. By adding light-duty trucks into the market, Hino is making an effort to strengthen its operations in this growing market. The company aims to sell 3,000 units (including 800 light-duty trucks) in fiscal 2008, a twofold increase over the previous fiscal year.
Hino will keep offering the most suitable products and services for each country and region to meet the needs of customers all over the world, and plans to further expand its global operations.
Profile of Hino Vietnam:
- Company name: Hino Motors Vietnam, Ltd. (Hino Vietnam)
- Location (Headquarters/Plant): Hanoi City, Vietnam
- Established: June 1996
- Capital: 8,111,000 U.S. dollars
- Ratio of capital contribution: Hino Motors 51%, VINAMOTOR 33%,Sumitomo Corporation 16%
- Business: Production and sales of Hino Trucks and Buses, sales of repair parts
- Number of employees: About 100 (as of the end of March 2008)
- Annual sales volume (local sales): 1,566 units (FY 2007 Results)3,000 units (FY 2008 Projection)