Close Menu
I Really Like This Car
  • Automobile
  • Automotive
  • Design
  • Self Driving
  • Luxury
  • Supercar
  • EV
  • Motorcycle
  • Exclusives

Subscribe to Updates

Get the latest creative Articles from I Really Like this Car about Automotives & Supercars.

What's Hot

Used C8 Corvettes Are Still $55,000 Cars Because Chevrolet Made Them Too Good, I Guess

June 19, 2025

The Double-Edged Sword of AI in Fleet Operations – FleetTakes

June 19, 2025

Tesla Model Y: Six- and seven-seat options closer to Australia

June 18, 2025
Facebook X (Twitter) Instagram
I Really Like This Car
HOME Login
  • Automobile

    Used C8 Corvettes Are Still $55,000 Cars Because Chevrolet Made Them Too Good, I Guess

    June 19, 2025

    Tesla Model Y: Six- and seven-seat options closer to Australia

    June 18, 2025

    May 2025 Malaysian vehicle sales up 12.4% – MAA

    June 18, 2025

    To Compete With Russia, U.S. May Finally Construct Icebreaker Ships Again

    June 17, 2025

    2026 Ford Ranger Super Duty: Initial pricing and specs detailed for more capable ute

    June 17, 2025
  • Automotive

    The Double-Edged Sword of AI in Fleet Operations – FleetTakes

    June 19, 2025

    Is That a Cop? Meet the 2025 Jeep Wagoneer COV, the SUV That Might Just Scare You into Slowing Down : Automotive Addicts

    June 18, 2025

    UK and US strike deal to slash auto tariffs

    June 18, 2025

    PitPro Unveils Fully Automated Tire Changing System for Fleet Vehicles – Vehicle Research

    June 17, 2025

    2025 Artura Spider in Ventura Orange: McLaren’s Specialized Hybrid Supercar : Automotive Addicts

    June 17, 2025
  • Design

    Designing body kits and accessories

    April 11, 2025

    Designing for a startup automotive company

    February 18, 2025

    Our recent drive luggage website driveluggage.com shall be up and running in April.

    January 15, 2025

    Enhance your drive experience with bespoke automotive luggage |

    December 18, 2024

    Designing for an iconic marque

    December 11, 2024
  • Self Driving
  • Luxury
  • Supercar
  • EV
  • Motorcycle
  • Exclusives
I Really Like This Car
Home»Automotive»VinFast losses widen, however it’s confident of tripling sales this 12 months
Automotive

VinFast losses widen, however it’s confident of tripling sales this 12 months

ReutersBy ReutersFebruary 22, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
Vinfast Losses Widen, But It's Confident Of Tripling Sales This
Share
Facebook Twitter LinkedIn Pinterest Email

 

HANOI — Vietnamese electric vehicle (EV) maker VinFast on Thursday said its fourth-quarter net loss deepened 3.4% from the previous three months however it goals to just about triple vehicle sales this 12 months because it expands into latest markets.

VinFast’s net losses in the ultimate quarter of 2023 reached $650.1 million, also 1.3% higher than the identical period of 2022.

It plans to extend deliveries to 100,000 units this 12 months, compared with the virtually 35,000 made in 2023, when it missed a 50,000 unit goal because of slow EV adoption in some regions and increased price war.

“This 12 months, we expand globally and have all of the vehicles, including the right-hand drive model. So we’re confident that we’re going to realize the guidance,” chairwoman Le Thi Thu Thuy told Reuters after the earnings were released.

Other automakers, in contrast, have slashed EV sales targets and curtailed investment plans because of weakening demand in major markets reminiscent of the USA.

VinFast, which launched U.S. sales in March last 12 months with its VF 8 sport utility vehicle, relies heavily on domestic demand, with around 70% of deliveries going to its affiliate Green SM (GSM), a taxi operator and leasing provider backed by VinFast CEO Pham Nhat Vuong.

Fewer than 1,000 units were sold in North America, Thuy said, adding that latest dealerships would boost VinFast’s sales this 12 months in comparison with its direct sales model.

Fourth-quarter revenue reached $437 million, missing a mean analyst estimate of $570.9 million, in line with LSEG data. Full-year revenue was up 91% at $1.2 billion.

India and Indonesia

Founded in 2017 and making EVs since 2021, VinFast has announced quite a few EV growth plans overseas. It’s constructing a factory in North Carolina, which is predicted to launch in 2025, and planning its first manufacturing facilities in India.

Thuy said the corporate was targeting “two big markets”, Indonesia and India, where it will implement a battery leasing scheme with customers paying a monthly fee the identical or lower than the gasoline cost for equivalent vehicles.

“We expect to launch factories in India and Indonesia in 2026,” Thuy said, adding that until then its Vietnam plant is in a position to supply cars to the U.S and other markets.

VinFast’s market capitalisation surged to $85 billion — higher than that of legacy U.S. automaker Ford — after its Nasdaq debut in August, however it has since slumped to $12 billion, with its U.S. market entry coinciding with intensifying price war led by market leader Tesla.

Shares in VinFast, backed by Vietnam’s largest conglomerate Vingroup were down 2.66% in premarket trading.

In line with Thuy, after a blackout period ends on Feb. 26, VinFast will start a fundraising process because it looks to extend the variety of shares available for public trading to 10-20% by the top of the 12 months from around 2% currently.

 

This Article First Appeared At www.autoblog.com

confident losses sales tripling Vinfast widen Year
Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
Previous ArticleBUILDING TRUST | Drive Design
Next Article It’s Just Testing, But Allow Me To Be The First To Congratulate Max Verstappen On His 2024 Formula One Championship
Reuters

Related Posts

The Double-Edged Sword of AI in Fleet Operations – FleetTakes

June 19, 2025

Is That a Cop? Meet the 2025 Jeep Wagoneer COV, the SUV That Might Just Scare You into Slowing Down : Automotive Addicts

June 18, 2025

May 2025 Malaysian vehicle sales up 12.4% – MAA

June 18, 2025

UK and US strike deal to slash auto tariffs

June 18, 2025
Leave A Reply Cancel Reply

Demo
Interesting Picks

The Best RC Drift Cars In 2023

September 24, 2023

Ford-Ghia Probe I prototype burns to a crisp in Monterey

August 20, 2024

Malaysian fuel prices December 2024 week 4 – RON97 up 3 sen to RM3.22/litre; diesel stays at RM2.95

December 18, 2024

2024 Subaru WRX: What’s Latest? – Vehicle Research

December 22, 2023
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Automobile

Used C8 Corvettes Are Still $55,000 Cars Because Chevrolet Made Them Too Good, I Guess

By staff@jalopnik.com (Collin Woodard)June 19, 20250

Chevrolet When Chevrolet first revealed the C8 Corvette in 2019, it was a revelation. It…

The Double-Edged Sword of AI in Fleet Operations – FleetTakes

June 19, 2025

Tesla Model Y: Six- and seven-seat options closer to Australia

June 18, 2025

Is That a Cop? Meet the 2025 Jeep Wagoneer COV, the SUV That Might Just Scare You into Slowing Down : Automotive Addicts

June 18, 2025
About Us
About Us

At ireallylikethiscar.com, we are passionate about all things automotive. Whether you're a fan of supercars, electric vehicles, or simply have a deep appreciation for the beauty and engineering of automobiles, you've come to the right place.

Interesting Articles

2024 Audi Q4 e-tron Gets Mid-Model Refresh, Power & Range Increase, Same Pricing : Automotive Addicts

March 8, 2024

Damien O’Sullivan appointed VW Group’s UK chief, succeeding Alex Smith

November 12, 2024

Automakers can, and do, use your private information nonetheless they need

September 6, 2023
New Comments
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer
    © 2025 I really Like This Car. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.

    We are using cookies to give you the best experience on our website.

    You can find out more about which cookies we are using or switch them off in .

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?
    I Really Like This Car
    Powered by  GDPR Cookie Compliance
    Privacy Overview

    This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

    Strictly Necessary Cookies

    Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

    If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.