TMT MOTORS CORPORATION

TMT MOTORS CORPORATION: A Resilient Auto Assembler Facing Financial Volatility in Vietnam

TMT MOTORS CORPORATION (Công Ty Cổ Phần Ô Tô TMT), a publicly listed Vietnamese automaker, has been active in the local automotive scene for nearly two decades. Known by the stock code TMT on the Ho Chi Minh City Stock Exchange (HOSE), the company specializes in the assembly and trading of motor vehicles, with a growing presence in auto parts distribution and vehicle maintenance.

Founded on December 14, 2006, and headquartered at the Coninco Building in Hanoi, TMT Motors has built a substantial industrial footprint with branches in Hung Yen and Ho Chi Minh City. As of March 2025, the company employs 589 workers and operates as a joint stock company with a registered capital of over USD 15.3 million.

TMT’s leadership is concentrated among members of the Bui family, with Mr. Bui Van Huu serving as Chairman and Mr. Bui Quoc Cong as Deputy Chairman and Deputy General Director. Major shareholders include Mr. Huu (33%), Mr. Cong (10.41%), and other family affiliates, indicating a tightly held ownership structure.

While TMT Motors has a long-standing reputation as a domestic assembler of commercial vehicles and auto parts importer, its financial performance in recent years has been volatile. In Q1 2025, total sales dropped sharply to just USD 27.76 million, representing a dramatic 70.95% year-over-year decline. However, this came with a surprising return to profitability, recording a modest net profit of USD 1.39 million, compared to a loss of over USD 13 million the year prior. This rebound was aided by a 30% increase in equity and a 175% boost in working capital, which now stands at USD 1.18 million.

Nevertheless, the financial data reveals ongoing instability. The company saw a major contraction in both revenue and asset value from 2023 to 2024, suggesting challenges in market positioning, demand, or inventory management. A significant part of the decline may stem from competition with imported brands, macroeconomic headwinds, or overextension into non-core business areas such as real estate and education, as indicated by its wide-ranging registered business lines.

Despite these issues, TMT Motors remains one of Vietnam’s notable local auto assemblers and importers of vehicle parts. It continues to supply vehicles across urban and rural transport fleets and is regarded as a mid-tier player in the domestic vehicle assembly sector.

VANGUARD BUSINESS INFORMATION LLC (VBI) considers TMT MOTORS CORPORATION a medium-risk enterprise with a highly dynamic operating environment. Interested stakeholders—including suppliers, investors, and lenders—are advised to monitor the company's liquidity, shareholder shifts, and asset utilization closely.

To request a full credit report, litigation history, and financial benchmarking on TMT Motors or any Vietnamese manufacturer, visit www.vnbis.com — the trusted gateway to business verification, private financial intelligence, and operational risk assessment in Vietnam.