The bank sells a series of famous limousines in Quang Ninh, there are many other garages in the same situation

Mar 24, 2022 10:51 GMT+7

VietinBank Van Don branch (Quang Ninh) has just announced the sale of collateral of Trung Thanh Logistic Trading Joint Stock Company (Trung Thanh Garage) to settle debts.

The property for sale includes 20 cars, including 8 7-seat cars, brand Isuzu, model number MU-X, manufactured in 2019 and 12 11-seat Hyundai Solati Limousine passenger cars, manufactured in 2019. Transfer price by agreement.

In the market, Isuzu MU-X cars are valued at VND 650 million – VND 800 million, while the 11-seat Hyundai Solati Limousine produced in 2019 costs about VND 900 million to VND 1.3 billion.

It is known that Trung Thanh Logistic Trading Joint Stock Company (Trung Thanh garage) was established in February 2019 with a registered capital of 5 billion VND and is directed by Mr. Nguyen Trung Thanh (born in 1983).

Limousine fleet of Trung Thanh Company.

Trung Thanh is a quite famous bus operator in Quang Ninh with high quality limousine service. However, the Covid-19 epidemic over the past two years has caused not only this garage but many other garages to struggle, leading to many garages having their vehicles confiscated by banks to settle debts.

In which, VIB and TPBank are banks with large outstanding car loans, constantly selling liquidated assets including cars and passenger cars of all kinds.

At a parking lot rented by VIB in Thu Duc city (HCMC), the bank also organized an event called “Closing package deal – complete dream” to auction hundreds of people directly. Cars are being kept in this parking lot.

Lot of 16-seat passenger car waiting for liquidation is located in VIB’s parking lot in Ho Chi Minh City.

According to the employee in charge of asset liquidation of VIB, the bank is in need of liquidating a batch of 16-seat Ford Transit cars manufactured from 2015 to 2020 with a selling price of only VND 280 million. These are all assets seized from transport enterprises that are no longer able to repay bank loans. For cars manufactured from 2018 onwards, the selling price is somewhat higher, from 400 million VND/car.

The bank also conducted a car auction program aggressively, including a livestream on the social network Facebook.

At the parking lot rented by VIB in Hoang Mai district, Hanoi, there are many 16-seat transport vehicles with number plates of Hanoi, Thai Binh, Nam Dinh, etc., waiting for liquidation.

A series of passenger cars waiting for the bank to liquidate.

TPBank is also a bank with a large number of passenger cars that need to be liquidated. The passenger car lines being sold by this bank are mainly 16-seat cars including Ford Transit, Hyundai Solati.

Limousine bus of Trang An bus company is for sale by TPBank.

Some larger vehicles such as Samco Felix, Hyundai County are also seized by banks from transportation businesses and are being sold. Some Ford Transit cars manufactured in 2018-2019 are being sold by TPBank for between VND 300-385 million.

The 29-seat Hyundai Auto Universe passenger car of Phu Duyen garage running on the Nho Quan – Hanoi route is being sold by TPBank for VND 549 million. This price has decreased significantly compared to the previous sale, in December 2021, for 676 million VND.

Two passenger cars are being sold by TPBank for 452 million dong (Samco) and 549 million dong (Hyundai), respectively.

Or like the 29-seat SAMCO ISUZU passenger car of Tuan Thinh garage, a transport enterprise in Thai Binh, located in TPBank’s parking lot in Ha Dong district (Hanoi) for sale for 452 million VND.

However, the most popular among the types of vehicles being liquidated by banks are still cars with 4-7 seats with prices ranging from only a few hundred million dong to several billion dong.

The most common among the vehicles seized by the bank were cars with 4-7 seats.

Ngan Giang