The global offensive of VinFast is about to come to life, although it must be admitted that 2023 ended with numbers lower than expected for the Vietnamese manufacturer. However, the 35% growth recorded in the last quarter of the year did not allow the company to reach its targets goals linked to all twelve months: at the end of the year there were in fact almost 35,000 cars registered, while we remember that the annual target that VinFast had set itself was 40,000 units.
Three main factors
The slowdown of electric cars in some global regions, increasingly fierce competition and a more uncertain scenario than ever from an economic point of view are the factors which have mostly slowed down the growth of VinFast at a global level. Despite this, the company maintains its global expansion ambitions high: just think that at the beginning of January it hinted at a plan to create production plants and batteries in India, and announced its intention to expand in an increasing number of markets in the Middle East, Latin America and Asia, including Indonesia.
Below forecasts
“We witnessed a significant increase of vehicle deliveries in the fourth quarter of 2023 compared to previous quarters – said Tran Mai Hoa, vice-CEO of sales and marketing of VinFast in a note – Despite this, in a challenging market environment, the rate of adoption of electric vehicles in some regions has been slow, leading us to report a number of deliveries lower than expected“. We'll see if 2024 will bring greater satisfaction to VinFast, which hopes, this time, to meet its forecasts and, why not, even exceed them.
#VinFast #closes #expectations #FormulaPassion
