- Fewer than 1,500 VinFast cars registered in the US this year.
- VinFast had promised hundreds of US dealers by late 2024.
- Only 17 VinFast dealers have VF 8 or VF 9 models in stock.
VinFast’s bid to break into the American market has struggled to gain traction. The Vietnamese automaker’s US adventure has been marked by sluggish sales, dwindling dealership support, and a strategy that appears to be unraveling faster than it came together.
As more partners step back from the brand, questions are beginning to surface about the future of VinFast’s presence in the States.
Read: Owners Sue VinFast After VF 8 Takes Almost 24 Hours To Charge
VinFast currently offers the VF 8 crossover and the three-row VF 9 locally, and at one point, it floated plans to bring a compact VF 3 and even a pickup truck to American buyers. Those ambitions now seem increasingly out of reach.
Stalled Expansion Plans
Adding to that, the company ceremoniously broke ground on a North Carolina factory in 2023, aiming to begin production just a year later. That timeline quickly fell apart. Construction was halted, and the plant’s opening has now been postponed until 2028.
The signs aren’t encouraging. According to a report from AutoNews, VinFast now has fewer than two dozen stores operating across the US. That figure continues to shrink, as one location shut down in July, another closed in November, and a third in North Carolina is scheduled to close before the year ends.
Even among the remaining dealers, many are operating in name only. Several locations have no vehicles on site, and some are down to just a handful of units.
Indeed, of the 22 active dealers that VinFast says it has, just 17 of them have EVs in stock. Most of them have 15 or fewer vehicles available. In the case of one dealer in Florida, it has just a single 2024 VF 8 in stock, priced at $52,910.
Sales Collapse
VinFast sales have taken a big hit this year. Through the first ten months of this year, just 1,413 of its vehicles were registered in the United States, representing a 57 percent decline from the year prior. This comes despite the fact that total EV sales across the US have jump 11 percent this year.
The company’s expansion has clearly not gone as it would have liked. It originally expected to quickly sign 125 dealers, and then planned to have hundreds of outlets across the country by the end of 2024. As of August, it claimed to have “nearly 30 authorized dealerships.”
According to VinFast chairwoman Thuy Thu Le, the company has paused its aggressive push into the US and won’t open any more dealerships for the time being.
“Given the tariff situation and the instability in the EV market, we just need to see how that settles before we kind of push hard in the U.S.,” Thuy told Autonews. “Until we see some growth and stability in the U.S. market, we don’t intend to open more dealerships. Instead, we cultivate the relationship with the existing dealers and make sure they can get to profitability faster.”
