Geely Vietnam CEO: 'Sales surge over 600% in 8 months driven by market suitability'

Geely Vietnam has recorded strong sales growth since the beginning of the year, receiving 4,500 orders for its EX2 and EX5 EM-i models, with the CEO attributing success to competitive pricing and alignment with Vietnamese consumer preferences.

Vu Anh Tuan, CEO of Geely Vietnam, at an event. Photo: Geely

As Chinese automotive brands increasingly enter the Vietnamese market, Vu Anh Tuan, CEO of Geely Vietnam, shared insights into the company's business performance, development plans, and long-term commitment to the local market. Tasco Auto serves as the official distributor for Geely in Vietnam, with Vu Anh Tuan playing a key role in establishing and operating the brand's system.

Three Geely electrified vehicle models in Vietnam. Photo: Geely

The first half of 2026 saw Vietnam's auto market grow by nearly 30% year-on-year. Against this backdrop, Geely Vietnam has experienced significant positive momentum. We expanded our new energy vehicle portfolio in March with the introduction of the EX2 and EX5 EM-i. On the launch day, we received 1,200 orders, a figure that has since grown to 4,500 for these two models. The first eight months of this year saw Geely Vietnam's sales increase by over 600% compared to the same period last year, exceeding expectations. This positive signal highlights strong consumer interest, while also creating pressure on our supply and delivery schedules. Our success is not measured by short-term orders, but by our focus on researching and bringing market-appropriate products to Vietnam. Geely Vietnam is approaching the market from multiple directions, including the EX5 EM-i plug-in hybrid and the pure electric EX2 and EX5 models. Offering diverse choices aims to make the transition to electrified vehicles more convenient for users. As part of our long-term commitment to the Vietnamese market, Geely is building a sustainable development foundation encompassing products, distribution networks, after-sales service, and user experience.

Geely models officially distributed in Vietnam. Photo: Geely

Recently, Geely announced a compensation policy of 100,000 VND per day for customers experiencing delayed vehicle delivery. This policy arose from a global supply shortage, affecting the Vietnamese market and leading to slower deliveries than initially promised. We recognize this as a significant responsibility and felt compelled to apologize to our customers, taking concrete action to maintain trust in our brand. In addition to the compensation policy, we are implementing various solutions to improve and rectify the situation.

Before launching new models, Geely Vietnam developed sales forecasts and ordering plans based on segment scale, market research, and customer feedback. However, the market's adoption rate, particularly for electrified vehicles, has proven faster than initial predictions. The Geely Coolray, EX2, and EX5 EM-i all exceeded sales expectations immediately after their launch. This has put pressure on the company's supply and delivery schedules. Consequently, Geely Vietnam has adjusted its ordering plans, increased supply, and refined its forecasting for upcoming models.

Two Geely models, parts warehouse system, and Carpla Service workshop. Photo: Geely

At times, Geely Vietnam's after-sales service has not fully met user expectations. We are seriously addressing this issue and are making gradual improvements, particularly in parts supply and service capabilities. Currently, about 90% of common repair parts are readily available, with a one to three-day delivery time from the central warehouse to service centers. Tasco Auto is also collaborating with Geely to optimize the supply chain and increase inventory levels. Our technical team can successfully diagnose and repair approximately 99% of faults and breakdowns occurring in Geely's two models. As a newer brand, Tasco Auto launched the "Journey of Peace of Mind" project, putting Geely vehicles through real-world experiences to identify potential issues in the Vietnamese market. The project's goal is to verify product durability and help us develop comprehensive maintenance and repair solutions.

Geely models at an event. Photo: Geely

By the end of this year, we aim to establish a network of 56 official dealerships nationwide. We anticipate reaching 52 operational dealerships by late September, representing 93% of our target. This network is part of Tasco Auto's broader system of nearly 100 dealerships and nearly 80 Carpla Service centers, which collectively enhance customer experience and reinforce trust. Regarding charging infrastructure, Tasco Auto is developing it concurrently. Our dealerships currently operate 41 DC charging stations, with a goal of 100% coverage at sales points by 2027. Through the VETC platform, Geely owners will gain access to a network of over 235 charging stations across more than 30 provinces and cities nationwide. Tasco Auto has also independently invested in 50 additional stations and plans to complete the installation of 100 stations this year through partnerships with 45 businesses. By 2030, our ambition is to establish 4,000 charging stations nationwide, equivalent to 16,000 charging guns, positioning Tasco Auto as a nationwide energy infrastructure operator supporting Geely vehicle owners.

The increasing presence of Chinese car manufacturers in Vietnam signals significant market potential. Geely's differentiation stems from its foundation as a global automotive group, possessing strong technological capabilities, a diverse brand ecosystem, and extensive international market development experience. For instance, our vehicles prioritize safety as a core value, coupled with high quality and meticulous finishing details. Geely is also aggressively advancing its electrification and globalization strategies. In the first half of this year, Geely Auto's sales reached over 1.42 million vehicles, with exports accounting for 474,000 vehicles, marking a 158% increase year-on-year. In Vietnam, our strategy is to be a modern brand, centered on technology and user experience, offering a diverse product portfolio from traditional internal combustion engines to electrified options. Tasco Auto is also heavily investing in its distribution and after-sales systems, enhancing customer experience through exclusive privileges, all aimed at ensuring Geely's long-term presence in Vietnam.

For the upcoming peak car-buying season towards the end of the year, we are focusing resources on key customer touchpoints. This includes experience events where customers can truly feel the vehicle's quality, enjoy the driving experience, and assess safety features and actual fuel consumption. With our current portfolio of six models, Geely Vietnam offers a comprehensive range to meet diverse market demands. Models like the EX2 and Coolray, which offer competitive pricing and accessibility, are expected to contribute significantly to sales. The two versions of the EX5 target customers with higher demands for space, comfort, and features. The 7-seater SUV Okavango is aimed at larger families, while the Monjaro serves as our flagship product for the premium customer segment. Looking ahead, we anticipate expanding our vehicle lineup to serve the commercial transport sector, focusing on factors such as operating costs, durability, usage efficiency, and total cost of ownership.