BMW, Porsche look set to enter Vietnam

World-renowned automakers BMW and Porsche will market their luxury cars in Vietnam where consumer demand for automobiles is rising steadily on the back of the country's strong economic growth.

Porsche, a world leader in sports car production, will choose HCMC-based Prestige Sports, Cars (PSC) as its authorized Porsche importer in Vietnam, said sales and marketing director of PSC Paris Lin.

PSC is building a Porsche center in Saigon South area in HCMC's District 7, which will be up and running in the first quarter of next year.

The center covering 2,500 square meters will offer future Porsche customers a one-stop facility, he added. Sales, after-sale, parts, Porsche Merchandising (Porsche Design Driver's Selection) and other services will be made available.

The company will also offer individual customization for each Porsche model. "This customization and the sportyness of our cars make Porsche special and different from others in the world," Lin said.

The company is going to import the Cayenne V6 in September this year at a price of at least US$137,000, including VAT. The entire model range will be here at the end this year including Cayenne, 911, Boxster and Cayman, he said.

BMW has announced it will distribute cars in Vietnam from July 2007 after its failure in a joint venture there.

BMW will initially sell five models in Vietnam, including luxury 7-series sedans and X5 multipurpose vehicles.

BMW has appointed Euro Auto Joint Stock Co. as its distributor in the country.

BMW sold only 101 vehicles, mostly of 3-series, in Vietnam in 2006 and 37 units in the first four months of 2007.

BMW earlier withdrew from VMC joint venture in Vietnam in the wake of poor performance.

There are currently 17 foreign-invested automakers with total capital of more than US$1bil. However, only $700mil has been disbursed to date.