VinFast opens its first dealership in California, presenting electric SUV models to local consumers.
VinFast Auto Ltd. has opened its first authorized dealership in California, located in San Diego. This marks a pivotal move in its expansion strategy, allowing consumers in California to explore and purchase electric SUVs, including the VF 8 and VF 9. The dealership promises attractive financing options and a substantial warranty, as VinFast aims to strengthen its market presence, particularly in the thriving electric vehicle sector. The company’s CEO highlighted plans for further growth across the U.S., underscoring California’s importance in the electric vehicle landscape.
VinFast Auto Ltd. has officially opened its first authorized dealership in California, located in San Diego, marking a significant step in the company’s ambitious expansion strategy within the United States. This new dealership is a vital part of VinFast’s efforts to create a comprehensive network of dealerships nationwide and will begin operations this month, providing California consumers the chance to explore and purchase electric SUV models.
At the San Diego dealership, consumers will be able to test drive and purchase or lease two of VinFast’s leading electric SUV offerings: the VF 8 and the VF 9. The VF 8 is a mid-size, 5-passenger SUV priced between $39,900 and $44,900. Meanwhile, the VF 9, a larger, full-size 7-passenger SUV, starts at $62,900. For customers interested in leasing, options begin at $269 per month for the VF 8 and $449 per month for the VF 9.
VinFast enhances its appeal with a competitive financing option offering 0% interest for its electric vehicles. Additionally, the company provides an industry-leading warranty: a 10-year or 125,000-mile warranty for the vehicle and a 10-year unlimited mileage warranty for the battery, applicable under non-commercial use.
VinFast’s CEO, Mike Nolte, emphasized that the opening of this dealership aligns with the company’s strategy to optimize operations and extend its market reach. With California being recognized as a crucial market for electric vehicles, VinFast plans further expansion of its dealership network across all 50 states, actively seeking additional dealerships in California to strengthen its position in this burgeoning market.
To date, VinFast has established over 30 authorized dealerships across 15 states in the U.S., including significant markets such as Texas, Connecticut, Florida, Illinois, and New York. The company is focused on expanding its presence in locations with high growth potential in the electric vehicle sector.
Despite facing challenges in the global market, including a reported gross loss of VND 5,736.5 billion, VinFast has noted impressive growth in its e-scooter segment, achieving a 44% increase in deliveries from the previous quarter and a staggering 473% increase year-over-year. In terms of electric vehicle deliveries, the company experienced a 32% decrease from the previous quarter but a remarkable 296% increase compared to the same period a year earlier.
VinFast is bolstered by investments from Vingroup and its founder, which are aimed at enhancing the company’s growth and operational efficiency. Additionally, the company has adopted a franchise dealership model, designed to improve overall business efficiency and market presence. As part of its expansion strategy, VinFast is looking to enter markets in Indonesia, the Philippines, India, and the Middle East, further leveraging its position as the best-selling automotive brand in Vietnam.
VinFast remains dedicated to pursuing flexible strategies driven by comprehensive market analysis and the overarching macroeconomic conditions, all in the pursuit of advancing global green transportation initiatives. With its focus on electric mobility and sustainable practices, VinFast aims to carve a significant niche in the U.S. automotive landscape and beyond.
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