FX.co ★ VinFast Auto Q2 Vehicle Deliveries Up 26%; Sees Strong H2 Sales Growth

VinFast Auto Ltd. (VFS) recently reported delivering 12,058 vehicles in the second quarter of 2024, marking a 26% increase from the same period the previous year. For the first half of 2024, the company delivered 21,747 electric vehicles, reflecting a substantial 92% rise compared to the same period in 2023.

VinFast now projects delivering about 80,000 electric vehicles in 2024, illustrating a significant leap from the 34,855 vehicles delivered in 2023, equating to a 2.3-fold year-over-year growth.

The company has strategically decided to revise the production timeline for its North Carolina manufacturing facility, with operations now slated to commence in 2028. VinFast cites this decision as a means to optimize capital allocation and manage short-term expenditures more efficiently, thereby reallocating more resources to immediate growth objectives and reinforcing current operations.

Expectations are high for robust sales growth in the latter half of this year. Additionally, VinFast announced it will release its second-quarter financial results before the market opens on August 15th, 2024.