VinFast VF 5 Vietnam’s most popular car by wide margin
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VinFast sold 13,000 units of its VF 5 electric car in Vietnam in the first half of the year, making it the top seller in the market.
A person familiar with the matter said that 20,000 VF 5s were sold globally.
Mitsubishi Xpander was the second most popular car in Vietnam with 7,773 units, followed by the Ford Ranger, which sold almost exactly the same number.
But analysts said it is still early to decide if VinFast has won over Vietnamese consumers with the crossover VF 5 as a large number were bought to be used as taxis and ride-hailing vehicles.
“Eventually all car manufacturers want to sell to retailers, not taxi companies,” an analyst who asked not to be identified said.
We are making efforts to convince retail consumers to buy the VF 5 by offering personalized color choices and other incentives.
Many ride-hailing drivers buy the VF 5 for its affordable price and the fact that electricity is cheaper than gasoline.
Overall, 154,265 cars were sold in the first six months, down 7% year-on-year, according to data from the Vietnam Automobile Manufacturers Association and Hyundai Thanh Cong, which sells Hyundai cars.
VinFast does not release data by market but said it delivered 21,800 units globally, down 8% year-on-year.
Questions & Answers
Q.What proportion of VinFast VF 5 sales were made in Vietnam?
What proportion of VinFast VF 5 sales were made in Vietnam?
13,000 VF 5 units were sold in Vietnam in the first half of the year, out of a total of 20,000 units sold globally. This means 65% of global sales were in Vietnam.
Q.Why do analysts question the VF 5's popularity with consumers?
Why do analysts question the VF 5's popularity with consumers?
Analysts are unsure if the VF 5 has truly won over consumers, as a significant number of units were purchased for use as taxis and ride-hailing vehicles, rather than by private buyers.
Q.What incentives is VinFast offering to attract retail customers?
What incentives is VinFast offering to attract retail customers?
VinFast is offering personalised colour choices and other incentives to encourage retail consumers to buy the VF 5. They are making efforts to convince private buyers.
Q.How did overall car sales in Vietnam perform in the first half of the year?
How did overall car sales in Vietnam perform in the first half of the year?
Overall car sales in Vietnam totalled 154,265 units in the first six months, representing a 7% decrease compared to the same period last year. The market saw a decline.