Thaco is expected to boost the sale of cars, trucks, buses in the last six months this year via an agreement on VND5 trillion preferential loan programme with Vietcombank. VNS Photo Hoai Nam

DA NANG (Biz Hub) — The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) in co-operation with Truong Hai Automobile company (Thaco) have offered 10.5 per cent interest deposit loans for customers buying cars from June 30 to December 31, the automobile's representative confirmed on Tuesday.

An agreement on the VND5 trillion (US$238 million) preferential loan programme, which was signed in June, will provide lending for buyers at Thaco's 100 showrooms nationwide.

The programme is expected to boost the sale of cars, trucks, buses in the last six months this year.

The company expects to provide 29,500 vehicles this year, bringing in a revenue of VND13 trillion ($619 million).

Last year, Thaco produced 24,500 vehicles with total revenue of VND12 trillion ($571.4 million), contributing VND2.8 trillion ($133.3 million) to the State budget.

The largest automobile maker in Viet Nam has so far produced and distributed three brand names: Kia of South Korea, Mazda of Japan and France's Peugeot.

Thaco will also begin manufacturing the Peugeot 408 model later this year. — VNS