FUSO Strengthens Operations in Vietnam
||FUSO trucks ranging from light-duty to heavy-duty to be locally assembled and distributed for the Vietnamese market
||Reinforcing company’s growth strategy in Asia, overall aim to significantly increase its global sales to 200,000 units by 2015
Kawasaki, Japan - Mitsubishi Fuso Truck and Bus Corporation (MFTBC), one of Asia’s leading commercial vehicle manufacturers, today announced its new business setup in Vietnam, effective July 1, 2014. Designed to further strengthen MFTBC’s ongoing growth strategy in Asia, the company will locally assemble and distribute FUSO light-, medium-, and heavy-duty trucks in the Vietnamese market through Mercedes-Benz Vietnam Ltd. (MBV).
Dr. Albert Kirchmann, MFTBC President & CEO, said: “This partnership enables us to build a mutually beneficial cooperation and bring further business potential. Building on the already well-established expertise and sales & service network, we aim to further promote our brand, products, and provide the best customer experience in the market. I am convinced of our next level growth and success in Vietnam where we see great potential in the years ahead.”
Mr. Michael Behrens, MBV President & CEO, said: “Since its establishment 19 years ago, Mercedes-Benz Vietnam has been the number one brand in the luxury passenger car segment in Vietnam with a market share of around 60 percent. Now, we aim to become the number one in the truck business. We have the right products and the dedication for them. We can prevail over the competition. One good precondition is the reputation of our brands in Southeast Asia, FUSO in particular. That's an asset that can be leveraged.”
Starting with light-duty trucks, MFTBC plans to bring its medium- and heavy-duty trucks to offer customers a wider choice fit for their professional transportation needs.
The FUSO brand in Vietnam
FUSO has been one of the leading Japanese commercial vehicle brands in Vietnam, with a market share of about 29.9% in the light-duty truck segment (January-December 2013) served by the Canter (5-8 tons GVW), Daimler Trucks best-seller around the globe.
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Based in Kawasaki, Japan, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) is one of Asia's leading commercial vehicle manufacturers. In 2013, the company sold a total of about 172,400 vehicles including light-, medium- and heavy-duty trucks and buses. With its growth strategy FUSO 2015, MFTBC has embarked on a clear company initiative aimed at increasing operational excellence and for significant increase in global sales, including an overall target to increase its sales to over 200,000 units globally.
Daimler AG owns 89.29% of MFTBC shares and various Mitsubishi group companies own 10.71% of MFTBC shares. MFTBC is an integral part of the Daimler Trucks Division of Daimler AG.