SVC is set to acquire a 40% stake from existing shareholders of Mitsubishi Long An, a Mitsubishi vehicle distributor in the former Long An area, now part of Tay Ninh province. The transaction value remains undisclosed. Prior to this deal, SVC held 13.8% of the capital but controlled 51% of the voting rights in the company.
By the end of Q3/2025, SVC will own 47 direct and indirect subsidiaries, along with 6 associate companies, primarily automotive dealerships. The company’s distribution network spans major brands such as Toyota, Ford, Mitsubishi, Hyundai, and Honda.
Mitsubishi Long An’s dealership is strategically located on Hung Vuong Street, Long An Ward, near National Highway 1A, an advantageous area for automotive sales. SVC also holds a 65% stake in another Mitsubishi dealership in Tay Ninh, with a 23.8% equity interest.
SVC aims to increase its ownership in the Mitsubishi distribution unit in Long An – Image: Mitsubishi Long An
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In the first nine months of the year, the number of SVC’s indirect subsidiaries increased from 36 to 47, significantly surpassing the 29 units when Tasco gained control in late 2023. New additions include G-Lynk Hai Duong, Geely An Giang, and G-Lynk Hanoi, expanding the distribution network for Geely and Lynk & Co brands.
Alongside expansion, the company streamlined its investment portfolio by divesting from Xe va Thiet bi Chuyen dung Vinh Thinh, Saigon Trade and Service Company—a Yamaha dealer in Can Tho—and dissolving CTCP Otos, an online automotive platform established in 2014.
Leadership emphasized that the strategy remains focused on allocating resources to high-performing units while discontinuing operations in less contributive areas.
In terms of new investments, SVC injected 720 billion VND into Tasco RT, securing a 70.59% stake, to expand the Geely and Lynk & Co showroom network, prioritizing the northern region.
According to CEO Nguyen Hai Ha, system expansion and market recovery signals helped Q3 revenue surpass 8.2 trillion VND, a 21% year-on-year increase, nearing the record set in Q4/2024. However, gross profit margin dipped to 5.85%, down from 6.69% in the same period last year.
For the nine-month period, SVC’s revenue exceeded 20 trillion VND, a 27% increase, setting a new high. The new investment structure significantly improved profits attributable to the parent company’s shareholders, shifting away from minority shareholders as previously seen.
Beyond its core business, SVC reduced non-core investments by exiting a nearly 30-hectare project in Can Gio, transferring it to GELEX Infrastructure JSC. The transaction generated over 537 billion VND in income, driving Q3 net profit to nearly 364 billion VND.
After over two decades of investment, Savico sells Can Gio project to GELEX
– 15:28 25/11/2025
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Since early October, this stock has surged by over 70%, reaching a nearly three-year high.
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In the first nine months of the year, the company achieved a remarkable net revenue of 20,547 billion VND, marking a 27% increase compared to the same period in 2024. The parent company’s post-tax profit soared to 450 billion VND, an astounding 8.7-fold growth year-over-year.
