VinFast Reports Record-Breaking 2024 Sales, Aims to Quadruple Global Deliveries in 2025

Thanks to a significant spike in deliveries in the last quarter of 2024, when it delivered over 53,000 cars—more than half of its entire yearly sales—the business stated that it intended to at least treble its global sales this year.

​VinFast, a Vietnamese electric vehicle manufacturer, announced on Thursday that although it shipped over 97,000 cars last year—nearly three times as many than in 2023—the majority of those sales were in its own market.

With the help of a significant surge in deliveries in the final quarter of 2024, when it sold over 53,000 cars—more than half of its entire yearly sales—the firm stated that it intended to at least quadruple its worldwide sales this year.

Deliveries in 2024 surpassed a revised-down sales goal of 80,000 units. Last year, VinFast had originally set a goal of selling 100,000 automobiles. "VinFast's 2024 results exceeded expectations, demonstrating resilience in the face of market fluctuations and macroeconomic volatility," Thuy Le, chairwoman of VinFast, remarked.

In Vietnam, where it can capitalize on a rising market of around 100 million people, the business is pursuing an aggressive but expensive expansion plan. The launch of a much smaller and less expensive variant also helped to increase sales in the most recent quarter.

After reporting $2.4 billion in losses in 2023, the business lost about $2 billion in the first three quarters of last year, according to the most recent figures available. The Vietnamese conglomerate Vingroup, its parent business, is under pressure as a result.