Vietnamese Tesla VinFast’s latest quarterly performance Delivery volume increased by over 400%

VinFast, a Vietnamese Tesla competitor, saw a quarterly delivery volume increase of over 400%

【Phoneauto News】According to Phoneauto, VinFast, an electric vehicle manufacturer known as the “Tesla of Vietnam,” recently released its second-quarter performance report, marking the first time the company has published quarterly performance since going public. The report shows that VinFast’s deliveries in the second quarter increased by over 400% year-on-year, reaching approximately 9,500 vehicles. At the same time, sales revenue also increased by 131.2% year-on-year, reaching $327 million. Despite a net loss of $526.7 million for the quarter, it has narrowed by 8.2% compared to the same period last year.

VinFast Cars

It is reported that VinFast’s total deliveries in the first half of this year reached 11,315 vehicles. This indicates that VinFast’s business is steadily growing and the market demand is strong. Out of nearly 19,000 cars sold by VinFast so far, nearly 7,000 were purchased by Green and Smart Mobility (GSM), a taxi company under VinFast’s parent company, Vingroup. VinFast stated that selling vehicles to taxi companies is an important sales strategy that could stimulate demand and directly sell to customers in the future.

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Phoneauto previously reported that VinFast made its first car sales outside of Vietnam and delivered the first batch of 45 cars in California. This indicates that VinFast is actively expanding its global market and seeking more sources of funding to support its business development.

Overall, VinFast’s performance is very strong, and the demand for its products in the market continues to grow. However, the company’s financial situation still needs attention, especially in terms of net losses.

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