TAN CHONG GROUP OFFICIALLY DISTRIBUTING GAC BRAND IN VIETNAM MARKET
Hanoi, May 3, 2024 – GAC gasoline vehicles and spare parts will be officially imported and distributed by TC Services Vietnam to Vietnam market in 2024.
Asserting its presence in the Vietnamese automotive industry, enhancing domestic competitiveness
In February 2024, Tan Chong Motor Holdings Berhad (Tan Chong Group) has announced that it has entered into an agreement with GAC Motor International Co., Ltd. to distribute GAC gasoline vehicles and spare parts in Vietnam. This Distribution Agreement was signed via its subsidiary company, TC Services Vietnam which was incorporated in Vietnam and authorized to conduct distribution of automobiles, provision of automotive repair & maintenance service and spare parts supply in accordance with the laws of Vietnam.
According to information from Tan Chong Group, the Group believes that the GAC Distribution will provide vast opportunity for them to expand its foothold in the automotive industry in Vietnam.
Tan Chong Group is one of the largest motor conglomerates in Malaysia with business operations covering 16 countries, of which the main focus market is in Southeast Asia with 8 countries: Malaysia, Thailand, Singapore, Laos, Cambodia, Myanmar, Indonesia and Vietnam. In Vietnam, Tan Chong Group has been operating in the automotive market for more than a decade and is one of the largest Southeast Asian investors in Vietnam. In addition, this group also owns an assembly plant in Da Nang which meets global standard.
In addition to the Distribution Agreement reached with GAC Motor in the Vietnamese market, Tan Chong Group is also the sole and exclusive distributor of GAC vehicles (ICE and PHEV) and GAC AION (BEV) with a total 11 dealers in Malaysia currently. And they are also being appointed by GAC as a local assembler in Malaysia for the CKD project value worth RM 60 million to produce a B-SUV model, the All New GS3 EMZOOM by April 2024.
GAC MOTOR and commitment to global quality products
As of 2020, for 8 consecutive years, GAC MOTOR has ranked first in the China Initial Quality Study (IQS) conducted by J.D. Power – a global data analysis company, with models such as the GS3 SUV or the GN6 MPV. This study (specifically in 2020) surveyed 241 vehicle models from 57 brands in the Chinese market, identifying 218 quality-related issues and recording 32,536 consumer responses, thereby assessing consumer trust in the brand.
Consistently leading the IQS for nearly a decade is the evidence of the stability, durability, and reliability of GAC MOTOR – recognized by a wide range of consumers and top organizations like J.D. Power. Moreover, in the subsequent years, GAC’s joint venture brands such as GAC Honda, GAC FCA Jeep, and GAC Toyota have also topped this ranking. This is also how GAC Group can learn the core value of leading global automakers for its product development.
In reality, to achieve high durability and stability over many years, R&D has always been a priority for GAC MOTOR in every product. Each GAC MOTOR model must undergo real-world tests covering over 4 million kilometers on various roads to ensure the vehicle can withstand all terrain conditions or factors that cause ‘wear and tear’ on a car. Additionally, GAC MOTOR continuously applies modern technology and optimal features to its products, with the aim of providing the best experience for customers.
GAC MOTOR is currently expanding a comprehensive sales and service network in more than 39 countries and territories, collaborating with 18 leading global component manufacturing partners, bringing global products to each country and customer. By the end of 2023, GAC Group affirmed its position by achieving global sales over 2.5 million vehicles globally, including over 100,000 new energy vehicles.
GAC Group was founded in 1997 and headquartered in Guangzhou, China. It is a large state-owned holding company listed in both Shanghai and Hong Kong Stock Exchanges with over 93,000 employees at present. It offers large to medium sized passenger vehicles, light and heavy trucks, construction vehicles, and energy vehicles; motorcycles comprising standard motorcycles, sport bikes, scooters, etc.; auto-parts and accessories. Since 2010, GAC Group has successively launched a series of models covering sedan, SUV, MPV, PHEV and NEV. In 2020, GAC Group produced and sold more than 2 million vehicles. GAC Group has set up manufacturing plants in Guangzhou, Xinjiang, Yichang and Hangzhou.
