Toyota Vietnam launched made-in-Vietnam units of its Veloz Cross and Avanza Premio car models in the northern province of Vinh Phuc on Wednesday.

Hiroyuki Ueda, Director General of Toyota Vietnam, described the move as an important milestone of the carmaker in the country and also the affirmation of its commitment to promoting local automobile manufacturing.

Veloz Cross and Avanza Premio made their debuts in Viet Nam in March 2022 as completely built units imported from Indonesia.

Since then, they have recorded monthly sales of more than 1,000 units, reaching over 16,000 in total by the end of November. Veloz Cross has continually been among one of the best-selling cars and topped the seven-seater range with a market share of 40.3 per cent.

As the supply of imported vehicles is limited, the production of Veloz Cross and Avanza Premio at the manufacturing and assembly line in Vinh Phuc is a step to help the firm increase supply and the rate of locally made components in its automobiles.

Nguyen Trung Hai, Standing Vice Chairman of the provincial People’s Committee, said Toyota Vietnam has obtained many achievements in production and business activities, substantially contributing to Viet Nam’s automobile industry and local socio-economic development.

Vinh Phuc recorded more than VND40 trillion (US$1.7 billion) in budget revenue in 2022, including over VND10 trillion contributed by Toyota – up 9 per cent from last year, he noted, adding that local authorities pledge the best possible conditions for the company as well as others to develop business operations. — VNS