VinFast, an organization that makes dangerous automobiles after which apparently sells them again to itself, has large plans. The automaker is eyeing scale and growth, with plans for brand new factories in Europe and North America, and it desires the gross sales to match: 50,000 EVs bought in 2023 alone. The solely downside for VinFast is that this purpose doesn’t appear to be potential.
CNBC studies that VinFast goals to promote “40,000 to 50,000″ EVs in 2023, which would be a staggering number for any brand that’s still proving itself to buyers. Even Tesla, by now an established member of the auto marketplace, only sold 66,700 Model S sedans and Model X crossovers last year — combined. VinFast’s sales goals seem unmoored from its market realities.
So it should be no surprise that VinFast is far, far off-target. The company sold 11,315 vehicles in the first two quarters of 2023, and the vast majority of those were sold to its parent company’s taxi wing. Based on CNBC’s numbers, a mere 4,215 cars were sold to real, human buyers. At this rate, the company could be beaten out for volume by Rolls-Royce.
The story gets even worse in the U.S., according to CNBC. VinFast has apparently sold just 137 cars so far in the States — fewer than Toyota sold Grand Highlanders in the first half of the year. The company does still beat out the Alfa Romeo Tonale, though.
VinFast’s lofty objectives appear all however not possible to succeed in, particularly when the corporate appears dedicated to not enhancing its single, dangerous product. Will the automaker be taught from its errors, rework its upcoming automobiles, and place itself as a real competitor available in the market? Maybe, however I gained’t maintain my breath.