The company believes an expansive dealer network will help it to grow faster than relying on a direct-sales model
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by Brad Anderson
November 14, 2023 at 06:29
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VinFast’s launch in the U.S. is off to a very slow start but the Vietnamese car manufacturer has revealed that it will soon have 125 sales points across the country as it switches from a direct-sales model to one led by a nationwide network of dealers.
The company says it has received 70 dealer applications since its strategic sales shift in August was announced and that it expects to have “hundreds” of sales points by the end of 2024. VinFast started U.S. sales in California earlier this year and operates 13 showrooms across the state. While sales and registrations of the all-electric VF 8 started in February, data from Experian reveals that just 237 units had been registered through September.
“Updates on dealer agreements are expected to be announced in the coming months, which should allow VinFast to start distributing its EVs through 125 points of sales nationwide,” the brand said in a recent statement. “The company is planning to distribute its electric vehicle models at hundreds of points of sales by the end of 2024, including its existing showrooms. In 2023, VinFast expects to distribute VF 8 models through its distribution network and will continue its offerings with the VF 9, VF 6 and VF 7 when these models launch in the market.”
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Read: More Than Half Of VinFast Cars Sold In H1 2023 Were Bought By VinGroup-Owned Taxi Company
VinFast believes that it will be able to grow much faster in the U.S. with dealers rather than relying on a direct-sales model. It had originally planned to launch the VF 9 stateside this year but has delayed it until 2024. While there’s a good chance that some SUV-loving Americans will be intrigued by it, it seems prospective VinFast dealers are most excited by the idea of selling the tiny VF 3 EV.
In November, the company revealed that initial feedback among planned dealers in the U.S. for the VF 3 was “highly positive,” noting that almost “100 percent” of dealers want to sell it locally. Key to the VF 3’s appeal is the fact that it could probably be sold for less than $20,000 and the $7,500 federal EV tax credit if leased could bring that price down to as low as $12,500.
