Monday, May 27, 2024
NewsVinFast Has Allegedly Falsified its Sales Figures

VinFast Has Allegedly Falsified its Sales Figures

The story goes that most VinFast sales actually went to other subsidiaries in the Vingroup


In recent weeks, impressive sales figures for VinFast have been circulating on the Internet. However, according to an investigation conducted by Hunterbrook Media, among others, these figures have been falsified and are not representative of reality.

By 2023, VinFast would have delivered no less than 35,000 vehicles, which would still only be 12% of the capacity of the Hai Phong plant in Vietnam. The objective was to produce 50,000 units, and the current facilities are capable of assembling 300,000 vehicles.

According to information provided by the Reuters news agency, 82% of VinFast vehicles were sold to other subsidiaries of the industrial giant Vingroup. VinFast is a Vingroup entity. Without the involvement of its sister companies, VinFast would be in an unenviable situation.

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Hunterbrook Media’s investigation revealed that hundreds of VinFast vehicles, all painted turquoise, are parked on a vacant lot. The vehicles may have been purchased by GSM, a cab company that is part of the Vingroup subsidiary. A video showing the size of the lot and the vehicles was released, but quickly withdrawn.

According to information from Reuters, a majority of VinFast’s retail sales were made through huge discounts offered to consumers on the Vietnamese market. What’s more, a major marketing campaign, in partnership with VinHomes, helped sell a number of vehicles, again in Vietnamese territory.

2024 VinFast VF 8 | Photo: Benoit Charette

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