Haxaco, the leading Mercedes-Benz distributor in Vietnam, has announced an auction for a 6,282m2 land parcel in HCM City with a starting price of at least 1.13 trillion Dong (180 million Dong/m2). This land represents over 35% of the company’s total assets. The auction will be conducted by the Vietnam Auction Partnership Company. Haxaco acquired this property for a mixed-use automotive business project. Recently, the company reported revenue of 959 billion Dong for Q1, down 8%, with net profit plummeting 77% year-on-year. Despite struggles in their luxury car segment, their MG division remains profitable.
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