Saigon General Service

What Saigon General Service does

Saigon General Service Corporation (SAVICO) is a Vietnamese publicly listed holding company (stock ticker SVC on the Ho Chi Minh Stock Exchange, legal name Công ty Cổ phần Dịch vụ Tổng hợp Sài Gòn) founded in 1984 and headquartered at Tasco House Tan Cang, 220 Bis Nguyen Huu Canh, Ho Chi Minh City. The company operates three core business segments: (1) Service-Trading (Dịch vụ - Thương mại), the largest segment, distributing automobiles and motorcycles through 25+ subsidiary and affiliated dealer franchises across Vietnam representing Toyota, Ford, Volvo, Mitsubishi, Hyundai, Honda, Hino, Isuzu, Yamaha, and VinFast/Chevrolet; (2) Real Estate Services (Dịch vụ Bất động sản), developing office buildings, Savico MegaMall shopping center (>92% occupancy), Melisa Center, and Mercure Son Tra Resort; and (3) Financial Services (Dịch vụ Tài chính), supporting the group's trading and real estate operations.

SAVICO's business model is a channel-partner-driven distribution holding structure: revenue is generated primarily through authorized dealer sales (new vehicle unit sales recognized as one-time transactions), after-sales service and spare parts (professional services), rental income from commercial properties, and ancillary financial services. The company employs 5,001-10,000 people across its dealer network. In 2015, consolidated revenue reached 9,898 billion VND with profit before tax of 205 billion VND, and the company held approximately 8.5% market share in the Vietnam Automobile Manufacturers' Association (VAMA). The company also operated an automotive e-commerce platform via subsidiary OTOS (OtoS.vn), which merged with Carmudi.vn in 2018.

Ownership is widely held with major shareholders historically including state-owned Ben Thanh Corporation, SSIAM, and various foreign investment funds. SAVICO has undergone multiple rounds of portfolio restructuring, including the 2013 divestment of Orient Commercial Bank shares, 2014-2015 dissolutions of motorcycle-sector subsidiaries (Savico Mekong), the 2018 sale of Bac Au Auto stake to Ben Thanh Corporation, and an announced 2026 subsidiary divestment. Leadership transitioned from Nguyen Vinh Tho to Mai Viet Ha (Mai Việt Hà) as General Director in 2015, with subsequent governance reshuffles including 2017-2018 tax violation disclosures requiring remedial filings.

Name

Saigon General Service

Legal name

Công ty Cổ phần Dịch vụ Tổng hợp Sài Gòn

Website

https://savico.com.vn

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Saigon General Service (SAVICO) is a Vietnamese publicly listed holding company that distributes automobiles and motorcycles through 25+ authorized dealer franchises across Vietnam for brands including Toyota, Ford, Hyundai, Volvo, and Mitsubishi, and also operates real estate and financial services segments.

Ownership category

akta.pro rank

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Automobile Distribution: SAVICO distributes vehicles through authorized dealer franchises. Revenue is generated from the sale of automobiles under multiple brands including Toyota, Ford, Volvo, Mitsubishi, Hyundai, Honda, Hino, and Isuzu.
2. Motorcycle Distribution: Distribution of motorcycles under Yamaha and Honda brands through dealership network.
3. Real Estate Services: Investment and development of real estate including office buildings and shopping centers to support core distribution business.
4. Financial Services: Supporting financial operations for the service-trading and real estate divisions.
5. Automobile After-sales Services: Vehicle maintenance, repair services, and spare parts distribution for automobile brands.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

SAVICO is a Vietnamese holding company that distributes automobiles and motorcycles through an authorized dealer franchise network representing major international brands (Toyota, Ford, Volvo, Mitsubishi, Hyundai, Honda, Hino, Isuzu, Yamaha). Beyond vehicle distribution and after-sales service, the company develops and operates commercial real estate assets such as Savico MegaMall, Mercure Sơn Trà Resort, and Melisa Center, and provides supporting financial services and an automotive e-commerce platform (OtoS.vn).

Product overview

SAVICO (Công ty Cổ phần Dịch vụ Tổng hợp Sài Gòn) is a diversified Vietnamese corporation organized into three core business segments: (1) Dịch vụ - Thương mại (Service-Trading), the largest segment covering automobile and motorcycle distribution through an extensive dealer network representing Toyota, Ford, Volvo, Mitsubishi, Hyundai, Honda, Hino, Isuzu, Yamaha, and VinFast/Chevrolet brands across dozens of subsidiaries and affiliates nationwide; (2) Dịch vụ Bất động sản (Real Estate Services) developing office buildings, shopping centers including Savico MegaMall, and hospitality properties such as Mercure Sơn Trà Resort and Melisa Center; and (3) Dịch vụ Tài chính (Financial Services) supporting the group's trading and real estate operations. The company also operates OtoS.vn, an online automobile e-commerce platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Service-Trading (Dịch vụ - Thương mại) - Multi-brand Vehicle Distribution Core segment distributing automobiles and motorcycles through a nationwide network of authorized dealer franchises. Provides vehicle sales, after-sales service, and spare parts distribution under multiple international brands including Toyota, Ford, Volvo, Mitsubishi, Hyundai, Honda, Hino, Isuzu, and Yamaha.
• Real Estate Services (Dịch vụ Bất động sản) Real estate investment and development of office buildings, shopping centers (Savico MegaMall, with over 92% average occupancy), and hospitality properties (Mercure Sơn Trà Resort, Melisa Center conference and wedding venue). Real estate infrastructure also supports the trading business operations.
• Financial Services (Dịch vụ Tài chính) Financial services supporting the trading and real estate business lines, providing financing solutions and capital management for the group's operations.
• OtoS.vn (Automotive E-commerce Platform) Online automobile marketplace operated by SAVICO's OTOS subsidiary, providing online car buying and selling services. Merged with Carmudi.vn in April 2018 to strengthen the online automotive trading offering.

Quantifiable outcome

• 8.5% market share in VAMA for 2015
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered supporting and core.

• ComfortDelgrosupportingStrategic or Co-development Partner · 29 January 2018Joint venture partner in ComfortDelgro Savico Taxi. The taxi business was restructured and currently suspended while seeking new business opportunities.
• Toyota Motor CorporationcoreStrategic or Co-development PartnerSAVICO holds joint venture and investment stakes in multiple Toyota dealer companies including Toyota Giai Phong (joint venture), Toyota Ly Thuong Kiet (51% owned), Toyota Can Tho, and Toyota Long Bien. Toyota is a core brand in SAVICO's distribution portfolio.
• Ford Motor CompanycoreChannel Partner/ Reseller/ DistributorSAVICO operates multiple Ford dealership subsidiaries including Saigon Ford, Ben Thanh Ford, Can Tho Ford, Binh Duong Ford, Dana Ford, Hai Duong Ford, and others. Ford is a major brand in SAVICO's portfolio.
• Hyundai Motor CompanycoreChannel Partner/ Reseller/ DistributorSAVICO operates multiple Hyundai dealership companies including Song Han Hyundai (Da Nang), Kien Giang Hyundai, Binh Dinh Hyundai, Gia Lai Hyundai, Tay Do Hyundai, Son Tra Hyundai, Phu Lam Hyundai, Hung Thinh Hyundai, Vinh Thinh Hyundai, and Ngoi Sao Hyundai.
• Mitsubishi MotorscoreChannel Partner/ Reseller/ DistributorSAVICO operates Mitsubishi dealership companies including Mitsubishi SAVICO Da Nang, Mitsubishi Binh Thuan, and Mitsubishi Quang Nam. Multiple dealership openings announced between 2019-2021.
• Volvo CarscoreChannel Partner/ Reseller/ DistributorSAVICO operates Volvo Bac Au (automobile dealership) with operations in Ho Chi Minh City and Hanoi.
• IsuzusupportingChannel Partner/ Reseller/ DistributorSAVICO operates Isuzu dealership companies including Tay Bac Sai Gon Isuzu and Dai Thinh Isuzu.
• Yamaha MotorsupportingChannel Partner/ Reseller/ DistributorSAVICO operates Yamaha Saigon dealership for motorcycle distribution.
• KPMGsupportingOthersExternal audit firm engaged by SAVICO for annual financial statement audits since at least 2015.

Scale indicators10 records

Recent moves11 records

Expansion highlights5 records

Broad incumbents

• Ben Thanh Corporation: State-owned Vietnamese conglomerate that is a major shareholder of SAVICO and operates in real estate, retail, and automotive services. Comparable as a state-linked diversified group operating in adjacent automotive and real estate segments that intersect with SAVICO's portfolio.
• Inchcape plc: Global automotive distributor operating multi-brand dealer networks across emerging markets. Comparable to SAVICO as a multi-brand distribution platform, though operating at much larger international scale and serving as a reference point for the distributed-dealership business model.
• Tasco: Vietnamese automotive services and infrastructure company with diversified operations including vehicle inspection, toll roads, and real estate. SAVICO's current headquarters is located at Tasco House, and both operate at the intersection of automotive services and property development in Vietnam.
• Penske Automotive Group: Large US-based multi-brand automotive retailer and distributor operating premium and luxury brand dealerships. Comparable to SAVICO's diversified brand portfolio approach and emphasis on premium brands like Volvo, though operating in mature US/European markets rather than emerging Vietnam.

Direct peers

• VinFast: Vietnamese automotive manufacturer building its own branded dealer network for EVs and ICE vehicles. While an OEM rather than pure distributor, VinFast's expanding retail footprint competes with SAVICO's dealer subsidiaries for showroom locations and customer mindshare in Vietnam.
• Truong Hai Auto Corporation (Thaco): Vietnam's largest automotive distributor and manufacturer, operating multi-brand vehicle assembly, distribution, and dealership networks across Vietnam. Directly comparable to SAVICO as both run diversified multi-brand auto distribution platforms with nationwide dealer footprints.
• Haxaco (Hoang Anh Xuan Auto): Vietnamese multi-brand auto dealer group distributing Ford, Mazda, and other brands through subsidiary dealerships. Operates a similar authorized dealer franchise model as SAVICO, making it a direct comparable for distribution structure and unit economics.
• Mekong Auto Corporation: Vietnamese multi-brand automotive distributor operating dealer networks for Hyundai and other OEMs across southern Vietnam. A comparable diversified regional dealer group with overlapping brand representation and similar revenue model.
• Vietnam Star Automobile (VSA): Authorized dealer group for premium brands (Mercedes-Benz) in Vietnam, operating multiple showroom and service locations. Comparable to SAVICO's Volvo dealership subsidiaries as a similar single-brand franchise operator within the Vietnamese auto retail market.

Others

• OTO.com.vn / Carmudi Vietnam: Vietnamese online automotive marketplace that merged with SAVICO's OTOS subsidiary in 2018. Operates as a digital platform adjacent to SAVICO's physical dealer network, sharing both customer overlap and ownership history with the subject company.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/savicogroup/videos
• Facebookfacebook.com/savico.com.vn
• LinkedInlinkedin.com/company/saigon-general-service-corporation-savico-

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries40 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saigon General Service