News
80 Percent Of Vinfast Vehicles Sold Remain Internal
We haven’t heard anything from Vinfast for a while, and that is, of course, not a good sign for the Vietnamese manufacturer. Of the limited number of cars that were sold last year, no less than 80 percent also appear to remain with companies affiliated with Vinfast. However, the owner perseveres and continues to invest.
Vinfast has been around since 2017 and crossed over to Europe about a year ago. The brand is even attempting to gain a foothold in North America, which is certainly no small hurdle for a newcomer. Vinfast is not just a hobby club, but a division of industry giant VinGroup. That company was founded by Phan Nhat Vuong, who, personally owns no less than 97 percent of Vinfast through direct and indirect interests.
Vuong takes the electric car business seriously and has found partners in BMW (for previous models) and Pininfarina (for design), among others. Vinfast has fresh and modern-looking electric SUVs, but sales are not yet really going smoothly. Last year, 35,000 Vinfasts were sold worldwide. What’s worse is that the vast majority of Vinfasts delivered simply stay within the family. No less than 70 percent of this number went to GSM, a taxi company that VinGroup boss Vuong also owns. Another 10 percent was for (parts of) VinGroup and therefore actually remained internal. If this is true, only 7,000 Vinfasts would have gone to external customers in 2023.
However, Mr. Vuong is not giving up and says he will invest another $1 billion in Vinfast from his pocket. “The electric car market will continue to grow and will surpass the market for cars with combustion engines. I’m not giving up,” he says firmly.
-
Celebrities Auto1 week agoAfrobeats Star Kizz Daniel Splashes ₦1.6 Billion On Brand New 2026 Ferrari Purosangue SUV
-
Car Theft4 days agoFear Of Theft: Indian Man Hires Crane To Park New Mahindra SUV On Rooftop Before Traveling To Israel
-
Celebrities Auto1 week agoBurna Boy’s ₦9 Billion Bugatti Chiron VXX: The Making By Venuum
-
News7 days agoMercedes-AMG CLE 646 Spezialanfertigung: Sold-Out 646-HP Collector’s Item Limited To Just 30 Units
-
Business1 week agoMate Rimac Becomes Bugatti President Following Porsche’s Exit
-
Celebrities Auto6 days agoIs This Asake’s New Ride? Inside the 1,001-HP Lamborghini Revuelto Venuum Voltoro V1 Spotted With Giran Republic Branding
-
Celebrities Auto7 days agoKarim Benzema Shows Off New $740,000 Ferrari 12Cilindri and $800,000 Lamborghini Revuelto
-
News6 days agoChevrolet Silverado EV Remains For 2027 With A Subtle Update