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“Tasco’s 2025 Shareholders’ Meeting: Integrating Vertically, Connecting the ‘One Tasco’ System and Partners to Serve Customers a Full Product and Service Lifecycle.”

27 May, 2025

Services

Panorama of Tasco’s 2025 Annual General Meeting of Shareholders

In 2024, Tasco recorded consolidated revenue of 30,249 billion VND, an increase of 175%; consolidated after-tax profit reached 305 billion VND, up 441% over the previous year. This result was mainly due to the growth in core business activities, especially in the auto service segment.

Tasco Auto sold 40,555 vehicles, increasing its market share to 13.7% (according to VAMA), while expanding its system to 106 showrooms in 2024 and 126 showrooms at present. The company also completed its investment in the ownership of the Volvo luxury car distribution chain and became the distributor for global automotive brands such as Lynk & Co, Zeekr, and Geely; bringing the total number of international brands distributed within the system to 16 automakers. In the used car business, Carpla has strongly developed its automall system, combining it with the used car showrooms in the Tasco Auto system, successfully trading 5,833 vehicles.

Tasco Auto Showroom in Hai Phong

2024 also marked important steps for Tasco as it established extensive partnerships with two international partners: Mitsui & Co – a leading Japanese trading and investment corporation with deep experience in the automotive supply chain and investments in over 100 companies across 26 countries; and Geely Auto Group – a Top 10 global automaker with multiple international brands.

In the field of toll collection, through its member unit VETC, Tasco continues to lead the market with a 75% market share, serving 3.7 million customers. The cashless payment ecosystem was expanded to nearly 300 inner-city parking lots, 5 airports, and several gas stations, contributing to the implementation of the government’s Proposal 06. The VETC e-wallet has also been strongly developed, aiming to expand further traffic and financial conveniences.

The insurance, finance, and real estate segments all recorded good growth. Tasco Insurance achieved a premium income of 650 billion VND, and in recent months, it has been in the Top 10 motor vehicle insurance companies after just over a year of operation. The total outstanding loan balance for car purchases reached 3,500 billion VND. The two 5-star resorts and the BOT system continue to contribute steadily to the company’s business results.

In 2025, Tasco’s strategic focus is on vertical integration, connecting the One Tasco system and partners, serving customers throughout the product and service life cycle: From buying new and used cars, insurance, and finance to maintenance, repair, car rental, car care, and smart transportation conveniences – all touchpoints are seamlessly connected.

Developing an integrated automotive value chain – from distribution and manufacturing to downstream services: Tasco continues to develop upstream in the automotive value chain, from importing and distributing to implementing CKD projects to increase profit margins, meet domestic demand, and exploit export opportunities. According to the plan, the CKD factory jointly invested by Tasco and Geely, with a total investment of approximately 168 million USD and a phase 1 capacity of 75,000 vehicles/year, will be inaugurated in 2025 and operational in 2026. The company plans to increase the number to 150 showrooms nationwide, expand the portfolio of international brands, and perfect the automotive ecosystem with Carpla – a used car e-commerce platform, repair and genuine spare parts services, and after-sales services (Carpla Service), and Stargo car rental, fully meeting the market’s needs.

Smart transportation and payment intermediary – expanding the digital ecosystem: VETC continues to expand cashless payments and develop e-wallets with services such as parking search, test drive booking, and financial overdrafts. Tasco also promotes the application of big data and artificial intelligence to optimize operations and user experiences.

A VETC cashless parking lot in Hanoi

Insurance – Finance – Real Estate: The insurance segment continues to expand its network to 40 branches, maintaining its Top 10 market share in motor vehicle insurance, providing personalized insurance for vehicles and owners, while expanding into the fields of personal insurance and technical property insurance to meet diverse customer needs. In finance, Tasco will coordinate with banks and financial institutions to develop flexible loan packages and expand the “buy now, pay later” service for transportation, gasoline, and other payments. In real estate, Tasco continues to operate effectively two international 5-star resorts while developing its available land fund of 159 hectares and implementing a project in Viet Tri, Phu Tho province.

People, technology, and customer experience are the core factors for development: Tasco focuses on enhancing the comprehensive customer experience (end-to-end), based on a base of 3.7 million VETC customers and nearly 700,000 car service customers each year. Together with its partners, the company will concentrate on designing a seamless and reassuring customer experience journey – from pre-purchase to in-use and after-sales services – helping customers truly benefit from the ecosystem in terms of cost, convenience, and service quality. The ultimate goal is to build a trusted and sustainably developing brand, with product quality and customer experience as the core.

Based on the 2024 results, Tasco sets a target of 39,878 billion VND in total revenue and 571 billion VND in after-tax profit for 2025, an increase of 31.8% and 87.2%, respectively, over the previous year.

Minh Tai