Rise to the top
According to data from the Vietnam Automobile Manufacturers Association (VAMA), in October 2024, the total market sales reached 38,761 vehicles, an increase of 6% compared to September 2024, an increase of 53% compared to October 2023. The total sales of the entire market by the end of October 2024 increased by 12% compared to 2023.
According to VinFast's announced figures, this unit delivered more than 11,000 electric cars of all kinds to customers in October 2024, bringing the cumulative total to more than 51,000 units, officially becoming the car brand with the number 1 market share in Vietnam in the first 10 months of the year.
“With a continuously growing production and business plan, VinFast is confident that it will maintain its leading position, contributing to strongly promoting the greening of the country's transportation system,” VinFast affirmed.
Among the VinFast cars sold, the two best-selling models were VF3 with nearly 5,000 cars and VF5 with more than 2,600 cars. Other models including VF6, VF7, VF8, VF9 and VFe34 also achieved impressive business results, showing that consumers increasingly prefer electric cars and support the green mobility trend.
With a high number of pending orders, large-scale production capacity, and a continuously expanding sales network and charging stations nationwide, VinFast is confident that it will maintain its position as the No. 1 car company in the market and increasingly widen the gap with other brands.
The event of VinFast becoming the best-selling car brand in Vietnam is an important milestone, a turning point for the domestic automobile industry. Within just 5 years of entering the market, VinFast has not only affirmed its solid position but also officially surpassed foreign car brands to capture the largest market share. Notably, VinFast is also the first electric car brand to surpass rival gasoline car brands after only 2 years of switching to pure electric to become the market leading brand.
Affirming the capacity and bravery of Vietnamese brands
VinFast's outstanding growth not only affirms the capacity, bravery and class of Vietnamese people in the high-tech industry, but also shows the acceptance and support of consumers for smart, environmentally friendly electric cars. Vietnam has also officially become one of the few countries with an electric car brand that surpasses gasoline cars to lead the entire market.
Regarding VinFast's historical milestone, Mr. Pham Nhat Vuong - Chairman of Vingroup and General Director of VinFast Global - shared: "To achieve this miracle, we must first mention the joint efforts of hundreds of thousands of VinFast customers - those who have been brave and pioneers in supporting a young Vietnamese brand, have patiently and persistently used and commented on VinFast's products and services in the early days, thanks to which VinFast has made remarkable improvements and progress in product and service quality and achieved today. VinFast is committed to not stopping at the results achieved but will continuously research and seek solutions to improve product and service quality so that customers can be increasingly satisfied."
Associate Professor Dr. Tran Dinh Thien - former Director of the Vietnam Economic Institute - expressed that VinFast is not only a private enterprise brand but should be considered a national brand. Therefore, building a national brand is the responsibility of the whole community.
Following Vingroup over the years, Associate Professor Dr. Tran Dinh Thien has found that Vingroup's commitment to green transformation is truly serious, always demonstrated through concrete actions and results. The most obvious is the maximum allocation of resources and determination to strongly shift to the production and business of pure electric vehicles. Vingroup has overcome the most difficult period to maintain its position, contributing to helping Vietnam gain a position in the world.
Vietnam has made strong green transformation commitments to the world. The goal of “zero carbon 2050” is one of them. Although it is behind and not really strong, Vietnam dares to accept the challenge and take action. In particular, Vietnam considers that challenge a historic and epochal opportunity, a strong motivation to surpass and catch up with the world.
That commitment means that this is the time when Vietnam needs and must accelerate its green transformation to achieve its goals. If the transformation is not strong enough, Vietnam will find it difficult to fulfill its commitment, and will fall behind and stand on the sidelines of the development race.
That is also the reason why pioneering enterprises like VinFast/Vingroup need to be supported in all aspects, especially the spirit of solidarity of each citizen. We must not forget the valuable lesson drawn from the experience of Japan, Korea and many other economies, that miracles do not appear by themselves, but can only be the result of the aspiration to rise and the consensus of the whole nation. Vietnam is behind, wants to build a classy brand, to move forward, needs this even more.
VinFast is selling 7 electric car models in the Vietnamese market in all segments from mini-SUV to E-SUV, with diverse prices, suitable for all customer segments and attractive compared to gasoline cars in the same segment. VinFast is also strongly expanding internationally, increasing its presence in many countries and regions around the world, contributing to promoting the global electrification revolution.
