AsemconnectVietnam - Haxaco Auto Services Joint Stock Company (HAX, ticker HAX) estimates a profit of over VND60 billion in the first six months of 2026. Business results improved quarter by quarter thanks to the thriving Mercedes-Benz operations, along with positive contributions from MG and VinFast.

Amidst intense competition in the automotive market, slow recovery in purchasing power, and price wars across many segments, Haxaco stated that the parent company estimates a profit of over VND60 billion in the first six months of 2026.
According to Haxaco Chairman Do Tien Dung, the first quarter was a difficult period as the company focused on clearing inventory from previous years, resulting in low profits. In the second quarter, business improved thanks to new vehicles with better profit margins, support from Mercedes-Benz Vietnam, and a return to stable sales. Haxaco completed its sales targets assigned by the manufacturer and continued to be among the top-performing dealerships.
Besides the Mercedes-Benz segment, the two new business areas, MG and VinFast, also recorded positive signs. According to the company, PTM – the subsidiary responsible for MG distribution – is estimated to have achieved a profit of over VND7 billion in the first six months of the year, with the second quarter alone contributing over VND5 billion.
For VinFast, Haxaco currently owns 11 dealerships nationwide and has met all business targets assigned by the manufacturer. The subsidiary VFG is estimated to have achieved a profit of over VND33 billion in the first half of the year. Alongside vehicle sales, the company is accelerating the development of after-sales services, with most service workshops reaching break-even points after a few months of operation.
Besides improving business results, Haxaco is also stepping up investment to prepare for a new growth phase. The company has spent nearly VND100 billion upgrading two Mercedes-Benz dealerships in Hanoi and Ho Chi Minh City to the global Mercedes-Benz MAR20X standard. The two showrooms are expected to open in July.
In addition to investing in the distribution system, Haxaco is also preparing for a new phase of Mercedes-Benz products. According to the company, in the second half of 2026, the brand plans to bring many new imported car models to Vietnam, including all-electric, hybrid, and plug-in hybrid vehicles. Notably, the all-electric CLA model is expected to launch around September.
Haxaco leaders said the company expects to introduce more than 10 new car models from now until the end of the year, thereby contributing to stimulating market demand and improving the operational efficiency of the dealership system after the upgrade is completed.
According to the plan, by the end of 2026, Haxaco's entire Mercedes-Benz dealership network will have completed upgrades to global standards, ready to meet requirements for electric vehicles, hybrid vehicles, and new technologies.
Haxaco's leadership believes the second half of 2026 will be more favorable as purchasing power shows signs of recovery and many new models are launched by manufacturers. However, the company remains cautious about competitive pressure due to abundant supply and the ongoing price war.
With improving business results quarter after quarter and contributions from all three segments – Mercedes-Benz, MG, and VinFast – Haxaco expects to achieve its consolidated profit target of VND200 billion in 2026.
Regarding the plan for the 6,280m2 plot of land on Vo Van Kiet Street (Ho Chi Minh City), the Chairman of Haxaco stated that the company has several options, including a new development plan for the An Lac Villa project, comprising shophouses and villas. “We are planning to implement the project; if feasible, it will contribute significantly to Haxaco Group’s profits,” the Chairman of Haxaco shared.
Regarding shares, the Chairman of Haxaco revealed that many strategic investors are interested in HAX, especially investment funds from China and Taiwan (China) wanting to invest in HAX and PTM. PTM is expected to list on the HOSE in September, a strategic step to create momentum for the company's breakthrough.
N.Nga
Source: VITIC/Bao Tai chinh – Dau tu