VinFast scores high sales at home, but foreign markets lag

Vietnamese electric vehicle (EV) brand VinFast still faces an ambivalent future. Its Q4 2024 report, published on 13 February 2025, recorded sales of more than 53,000 units, a 143% increase from the previous quarter and up 342% on Q4 2023. In October, a major sales deficit was ominous enough for VinFast to revise its full year forecast from 100,000 units to 80,000. However, the automaker ultimately sold 97,399—only 2.7% short of the original target.

At the same time, this surge mainly represents consolidation in its home market instead of wider success. As noted by VinFast, Vietnam continues to “significantly contribute” to its sales. In a 11 January 2025 press release, the company stated it sold 87,000 electric four-wheelers domestically, meaning the international market only contributed around 11% of the total. It did not outline specific statistics for other countries.