Proving that they are indeed one of the fastest and best-selling car brands of the year, VinFast recently announced that it has delivered more than 11,000 electric vehicles (EVs) to domestic customers in October, garnering a total sales of over 51,000 EVs since the beginning of the year. This is in line with one of their goals of contributing to the green transition of Vietnam’s transportation sector.
Even after their impressive sales back in September 2024, VinFast never slowed down in October by delivering more than 11,000 EVs—a 21% increase over the previous month. Simply put, the VF 3 and VF 5 were the top-selling models, with nearly 5,000 EVs and over 2,600 EVs sold, respectively.
Their recent triumphs can also be attributed to their substantial number of pre-orders, large-scale production capacity, and a continuously expanding network of dealerships and charging stations. With this, the car brand is confident in maintaining its top position in the Vietnamese market and further widening its lead over competitors.
Of course, such a feat isn’t just credited to VinFast, as this also marks a significant breakthrough for the Vietnam automotive industry. In just over five years since their market entry, they managed to establish a firm foothold and overtake foreign competitors to secure the largest market share.
Besides that, they are also the first electric vehicle brand to surpass gasoline-powered competitors to become the market-leading brand, just two years after its transition to a pure-play brand.
Indeed, their remarkable growth is a testament to the capabilities and resilience of the Vietnamese people in the high-tech industry and further emphasizes a strong consumer support for eco-friendly, smart electric vehicles. As a matter of fact, Vietnam is now among the few countries where domestic auto sales are led by a pure-play EV company.
Reflecting on this milestone, Mr. Pham Nhat Vuong, Chairman of Vingroup and CEO of VinFast Global stated: “Achieving this milestone is, first and foremost, thanks to the support of hundreds of thousands of VinFast customers—those who have bravely and pioneeringly backed a young Vietnamese brand, who have shown patience and persistence in using our products, and have provided invaluable feedback to improve VinFast’s products and services from the start. Their insights and support have helped VinFast make outstanding advancements in product and service quality to reach where we are today. On behalf of all employees at Vingroup and VinFast, I extend my deepest gratitude to every VinFast customer and pledge that we will not rest on our current achievements.”
He also added, “We will continually strive to research and implement solutions to elevate our product and service quality to increase customer satisfaction even further. I also thank the entire VinFast and Vingroup team for their resilience in overcoming numerous challenges and doubts. Together, we have wholeheartedly and creatively fulfilled our mission.”
VinFast now offers seven electric vehicle models across all segments in the Vietnamese market, from mini-SUVs to E-SUVs, with competitive pricing options that cater to diverse customer needs and remain attractive compared to gasoline vehicles in the same segment. They are also actively expanding internationally, strengthening their presence in multiple countries and regions worldwide to contribute to the global shift toward electric mobility.
The Company also announced that it will release its 3Q24 financial results before the market opens on November 26, 2024. On the same day, VinFast’s management will hold a live webcast to discuss the Company’s business performance and strategy. Details for the call are below:
–What: VinFast Q3 2024 Financial Results and Q&A Webcast
–When: Tuesday, November 26, 2024
–Time: 8:00 a.m. Eastern Standard Time
–Live Webcast: https://edge.media-server.com/mmc/p/5725mupo
A replay of the webcast will also be made available on the Company’s website.
For additional information, please visit ir.vinfastauto.us.
Investor Relations Email: ir@vinfastauto.com
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About VinFast
VinFast (NASDAQ: VFS), a subsidiary of Vingroup JSC, one of Vietnam’s largest conglomerates, is a pure-play EV manufacturer with the mission of making EVs accessible to everyone. VinFast’s product lineup today includes a wide range of electric SUVs, e-scooters, and e-buses. VinFast is currently embarking on its next growth phase through rapid expansion of its distribution and dealership network globally and increasing its manufacturing capacities with a focus on key markets across North America, Europe and Asia. Learn more at: https://vinfastauto.us/