VinFast EV Sales Globally Improved At The End Of The Year, But The 2023 Target Was Not Achieved

VinFast VF9 (source: VinFast Auto)

JAKARTA - Ahead of appearing for the first time in Indonesia at the International Motor Show (IIMS) 2024, 15-25 February 2024 at JIExpo, Kemayoran, Jakarta, VinFast, an automotive company from Vietnam, reported good sales results in the late 2023 period.

The manufacturer acquired a new record vehicle shipment of 13,513 units in the fourth quarter of last year or broke an earlier score of 10,027 units in Q3.

This number includes electric vehicles (EVs) which are sold globally, both large and small-dimensional vehicles. Unfortunately, the company did not disclose the details of the models with the most sales.

"In the fourth quarter of 2023, we experienced a surge in vehicle shipments compared to the previous quarter. However, amid economic challenges, the slow adoption rate of electric vehicles in certain areas has had a negative impact on delivery plans," said Tran Mai Hoa, Deputy CEO of VinFast of Sales and Marketing, on the company's website, Sunday, January 21.

Although sales performance in the final quarter went well, the company, which was founded in 2017, did not achieve the desired EV sales target, with a target of 40,000 vehicles during 2023. Meanwhile, last year they posted 34,855 units.

Thus, the company has recorded sales of 42,291 vehicles since marketing EVs globally since 2021. In the 2021-2022 period, they managed to sell 7,436 units.

To increase the number of sales, VinFast intends to expand its market reach in several countries, including Indonesia and India. Thus, the company will invest in the construction of factories in the region in the hope of saving costs of up to 400 million US dollars.

It is known, VinFast has also confirmed his participation in the Indonesia International Auto Show (IIMS) 2024, where the company will introduce models such as VF5 to compete in the affordable electric vehicle segment.