July 13, 2024 – In a recent announcement, Vietnamese automotive upstart Vinfast has revised its delivery projections for 2024, slashing the anticipated tally from an initial target of 100,000 units to a more modest 80,000. This strategic adjustment underscores the company’s commitment to realistic targets amidst a dynamic market landscape.
Delving into the performance metrics, Vinfast boasted a robust second-quarter performance, delivering 12,058 vehicles – a 24% surge from the preceding quarter. Cumulatively, the first half of the year witnessed a total delivery of 21,747 vehicles, marking a significant 92% year-on-year growth.
Recalling its financial milestones, Vinfast unveiled its fiscal year 2023 and fourth-quarter financial results in February this year. As of December 31, 2023, the company’s fourth-quarter revenue soared to 437million,registeringa261.198 billion, reflecting a robust 91% annual growth trajectory.
Looking ahead, Vinfast has outlined ambitious expansion plans, aiming to establish approximately 400 sales outlets globally by the end of this year. This strategic move underscores the company’s intent to bolster its competitive edge in key markets, particularly those geographically proximate such as Indonesia and India. Despite the downward revision in delivery projections for 2024, Vinfast remains steadfast in its pursuit of scaling up operations and enhancing market penetration.
In parallel, the automotive giant has reiterated its commitment to the 2024 fiscal year target of delivering 100,000 vehicles, albeit with a revised outlook that aligns more closely with current market realities and operational capabilities. The company’s relentless focus on expanding its sales network and fortifying its presence in neighboring markets underscores its resilience and adaptability amidst the ever-evolving automotive industry.
