THACO LUXURY CARS ASSEMBLY AND MANUFACTURING CO., LTD: A Rapidly Rising Star in Vietnam’s Premium Auto Sector

THACO LUXURY CARS ASSEMBLY AND MANUFACTURING LIMITED LIABILITY COMPANY(Vietnamese name: CÔNG TY TNHH SẢN XUẤT VÀ LẮP RÁP Ô TÔ DU LỊCH CAO CẤP THACO) is an important subsidiary of the well-known THACO AUTO GROUP, one of Vietnam’s largest and most influential automotive conglomerates. Established on February 25, 2019, the company operates from the Chu Lai Truong Hai Automotive Mechanical Industrial Park in Quang Nam Province. It is registered under Tax Code (TIN): 4001172489.

Under the leadership of Chairman Tran Ba Duong and General Director Doan Dat Ninh, the company specializes in manufacturing and assembling luxury passenger vehicles, particularly Peugeot models. Despite its relatively recent inception, THACO LUXURY CARS has already demonstrated robust financial momentum.

In 2023, it achieved USD 202.88 million in sales, an impressive 131.87% increase from the previous year. Profits surged by 80.22% to USD 12.07 million, underscoring both market demand and internal efficiency. At the same time, total assets rose to USD 232.47 million, showing continued investment and expansion, particularly in production infrastructure.

However, one area that warrants attention is the static owner’s equity, which remained at USD 10.27 million for the second consecutive year. While not inherently negative, this flat equity profile amid skyrocketing asset and sales growth suggests a potential reliance on debt or internal cash flows to fund expansion. Nonetheless, the company maintains positive working capital of USD 10.76 million, reflecting strong liquidity.

As a 100% Vietnamese-owned company under THACO AUTO LIMITED LIABILITY COMPANY, THACO LUXURY CARS is both financially viable and strategically positioned to capitalize on Vietnam’s growing demand for premium automobiles.

In summary, THACO LUXURY CARS ASSEMBLY AND MANUFACTURING CO., LTD is a strong performer in Vietnam’s luxury auto segment, backed by brand recognition, efficient operations, and clear upward growth. Caution may be warranted regarding its capital structure, but its overall trajectory appears sound.

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