VinFast VF8

VinFast delivered 34,855 electric vehicles in full year 2023, a 374% increase year on year.

Fourth quarter sales rose 35% to 13,513 vehicles.

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Revenue rose 26% to US$437m in the fourth quarter of 2023 driven by higher sales volume and improved product mix.

Full year revenue was $1,198m, up 91%.

Gross loss was $174.9m in the fourth quarter and $551.6m for the full year.

Gross margin was negative (46%) in FY 2023, compared to negative (82%) in FY 2022. In the fourth quarter of 2023, gross margin reached negative (40.1%), compared to negative (82.6%) in the fourth quarter of 2022.

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Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

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