VinFast has relatively big expansion plans for the United States. The company, which initially entered the U.S. market with a direct-sales model, has announced plans to open hundreds of sales points across the country by the end of 2024.
Currently operating 13 showrooms in California, VinFast began its U.S. journey earlier this year, focusing on the all-electric VF 8 model. Despite a modest start, with Experian reporting only 237 VF 8 registrations through September, the company is not slowing down. It plans to switch gears from direct sales to a comprehensive dealership network according to CarBuzz.
VinFast’s upcoming offerings include the VF 9, VF 6, and VF 7 models, set to enter the market following the VF 8. The company’s expansion is not just about numbers; it’s about variety and accessibility. The VF 3, an exciting addition to the lineup, has already sparked significant interest among prospective U.S. dealers. Its appeal lies in its affordability – potentially priced under $20,000 – and eligibility for a $7,500 federal EV tax credit, which could reduce the lease cost to as low as $12,500.
The dealership network expansion strategy marks a significant shift from VinFast’s earlier plans. Initially, the company intended to launch the VF 9 in the U.S. this year but has now postponed it to 2024. This adjustment, however, hasn’t dampened the enthusiasm among dealers, especially for the compact and budget-friendly VF 3.
The transition, first announced in August, has already garnered attention. With 70 dealer applications received, VinFast is on track to establish 125 sales points nationwide soon. This strategic shift reflects the company’s commitment to expanding its market reach and providing more accessible EV options to American consumers. By moving away from direct sales and embracing a dealer network, the company believes it can accelerate its growth and establish a stronger foothold in the competitive U.S. EV market.