Vietnamese electric vehicle (EV) manufacturer VinFast has reported a 192% year-on-year (YoY) increase in car deliveries, with 97,399 vehicles delivered for the full year 2024.
This growth in global sales surpassed the firm’s revised annual sales target of 80,000 vehicles for 2024.
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For fourth quarter (Q4) of 2024, VinFast sold 53,139 EV units sold globally, which marks a 342% rise YoY and a 143% increase quarter-on-quarter (QoQ).
In January 2025, VinFast’s domestic EV sales exceeded 10,000 units, including more than 4,000 units of VF 3 model and 3,300 units of VF 5.
The sales are driven by VinFast’s integration of the dealership distribution model, alongside its direct-to-customer approach.
The company has also entered new markets, including the Middle East, India, and the Philippines, while continuing to build its presence in Indonesia, North America, and Europe.
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By GlobalDataVinFast chairwoman Madam Thuy Le said: “VinFast’s 2024 results exceeded expectations, demonstrating resilience in the face of market fluctuations and macroeconomic volatility.
“As we look toward 2025, VinFast remains committed to leading the green transportation revolution with our innovative, diverse all-electric lineup.
“While market challenges remain, we are confident that electrification is the path to a sustainable future, and VinFast is dedicated to being at the forefront of this transformation.” Despite this domestic success, the company has encountered challenges in expanding its market share globally, reported Reuters.
