VinFast went through a turbulent period financially in 2023, posting significant losses on every electric vehicle sale.
Despite a significant increase in sales, the Vietnamese company recorded substantial losses, totaling $2.4 billion for the year. This translates into a loss of $68,000 per unit sold.
However, VinFast remains confident for the future, thanks in particular to an encouraging fourth quarter which saw growth in revenues and profit margins. Although annual sales targets were not fully met, the company is looking to Southeast Asia to strengthen its market presence.With ambitious expansion plans in India, Indonesia and the Philippines, VinFast sees 2024 as a decisive period for its growth.
Aiming to deliver 100,000 units this year, VinFast is committed to consolidating its position in the global electric car market. The future looks bright for this Vietnamese manufacturer in its quest for success and expansion.
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