Vingroup contributed VND 148.773 trillion to Vietnam’s state budget in 2025, the highest amount recorded from a private company in the country.

The figure rose 165 percent from more than VND 56.2 trillion in 2024, according to a ranking published by Vietnamese financial news platform CafeF. It also made Vingroup the first private-sector company in Vietnam to exceed VND 100 trillion in state budget contributions within a single year.

Its contribution averaged more than VND 407 billion per day throughout 2025.

The record came as the Vietnamese conglomerate posted sharp growth across its automotive, property and service businesses. Vingroup generated more than VND 332.808 trillion in revenue during the year, up 76 percent, while profit after tax increased 111 percent to more than VND 11.146 trillion.

Growth continued during the first six months of 2026. Consolidated net revenue climbed 72.5 percent to VND 222.3 trillion, while profit after tax rose 4.5 times to VND 20.375 trillion. The six-month profit accounted for 58 percent of its full-year target.

VinFast contributed to the expansion as it held the top position in Vietnam’s electric vehicle market. The automaker delivered 115,916 electric vehicles in its home market during the first half, a 72-percent increase from the same period last year.

Global deliveries reached 128,662 vehicles, up 78 percent. VinFast also sold nearly 429,175 electric motorcycles, or 3.7 times the volume recorded a year earlier.

The company had 474 showrooms worldwide by the end of the period, with most located in key Asian markets.

Vingroup’s property arm Vinhomes recorded VND 134.2 trillion in equivalent revenue during the first half, three times the previous year’s figure. The group is also developing businesses in infrastructure and green energy.

Its Thien Tam Fund has allocated VND 35 trillion to healthcare, education, livelihood, disaster relief and other social programs. Another VND 11 trillion was recently committed to projects supporting people who have contributed to Vietnam.

Michelin is strengthening its Philippine distribution network through three specialized importer-distributors serving passenger vehicles, commercial mobility, and industrial applications.

The company introduced Bermaz Auto Philippines for passenger car tires, BSB Junrose for commercial mobility, and Icon Equipment Solutions Philippines for specialized segments such as mining, construction, agriculture, and beyond-road operations.

The new structure is designed to improve product access, technical support, and after-sales service as vehicle ownership, logistics, infrastructure projects, and industrial activity continue to grow in the country.

Michelin said the expanded network complements its existing partners while giving each customer group access to distributors with more focused expertise.

For passenger vehicle owners and dealerships, the arrangement is expected to improve access to vehicle-specific tire fitments. Commercial operators, meanwhile, can receive fleet-oriented support aimed at reducing downtime and improving service response.

Industrial and beyond-road customers will have access to tire knowledge suited to demanding environments, where equipment reliability and productivity directly affect project costs.

“By strengthening our distribution ecosystem, we are bringing greater expertise, stronger support, and more relevant solutions closer to the industries and communities that keep the Philippines moving,” said Jonathan Khong, managing director of Michelin Philippines.

The company said downtime can affect delivery schedules, construction projects, mining operations, and other businesses that depend on vehicles and heavy equipment. A more specialized support network allows Michelin to respond more closely to those operating requirements.

The Philippine expansion also reflects Michelin’s long-term investment in the local market. The company has more than 130 years of experience in engineered materials and operates in 175 countries.

Michelin said the Philippines remains an important market in its Asia-Pacific operations, with demand growing for premium mobility solutions across consumer and industrial sectors.

Its local distribution partners will support products and services for vehicle owners, dealerships, logistics companies, contractors, mining firms, and other businesses that rely on tires for daily operations.

The company’s goal is to help customers improve safety, efficiency, equipment performance, and operating value through stronger local access and technical assistance.

For a country where a stalled vehicle can delay an entire delivery route or project schedule, the right tire support is not a minor detail. Michelin’s expanded network is intended to keep more vehicles and businesses moving.

The Philippine automotive market posted its strongest monthly performance of the year in July, with total industry sales reaching 42,880 units.

The figure, which includes sales from Chamber of Automotive Manufacturers of the Philippines and Truck Manufacturers Association members plus estimates from other brands, rose 2% from June. It also marked the industry’s first year-on-year increase for 2026 at 5%, according to CAMPI.

CAMPI and TMA members accounted for 37,319 units in July, up from 37,079 units in June. Their combined year-to-date sales reached 241,725 units, although this remained 10.2% below the 269,207 units recorded during the same period last year.

CAMPI president Jose Maria Atienza said the industry was gaining momentum and expressed hope that the positive trend would continue through the rest of the year.

Internal combustion engine vehicles continued to account for most sales, but electrified vehicles provided much of the month’s growth. The joint sales report recorded 7,086 electrified vehicles sold in July, up 3.6% from June and 161.8% from the same month last year.

Hybrid electric vehicles led the electrified vehicle category with 2,964 units, followed by battery electric vehicles with 2,520 units and plug-in hybrids with 1,602 units.

For the first seven months of the year, xEV sales reached 38,286 units, a 136.4% increase from the 16,195 units sold during the same period in 2025.

Toyota Motor Philippines remained the market leader in July with 17,797 units sold. Mitsubishi Motors Philippines followed with 6,271 units, while Suzuki Philippines ranked third with 1,689 units.

Honda Cars Philippines posted 1,256 units, followed by Ford Group Philippines with 1,152 units.

Light commercial vehicles also helped lift the market. The category recorded 22,744 units in July, increasing 4.3% from June and 1% from July 2025.

The monthly improvement comes as the industry continues to recover from a weak first half. While year-to-date sales remain below last year’s level, the stronger July result and the sharp rise in electrified vehicle deliveries point to a market gradually finding its footing.