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We are causing losses for the first cars



"We sell cars at unprofitable prices, even at this time, we are still losing money for every car we sell," said Thuy at the Bloomberg Asean Business Summit in Bangkok, Thailand. June 21st

The head of Vingroup's car production department said Vinfast launched its first cars on June 14th. To attract Vietnamese consumers and compete with giants like Toyota, Ford and Honda, Vinfast chose to sell its cars at unprofitable prices. Vietnam, one of the fastest growing economies in the world, is a fairly likely market for automotive manufacturers.

The first batch of Vinfast cars delivered to customers is the hatchback called Fadil. It is sold for 394.9 million, equivalent to 16.950 US dollars. In addition to Fadil, Vinfast also introduced two models worth 990 million VND and 1,415 billion VND.

These are all preferential values. From 1 September 2019, Fadil's price will return to the price of three, not equal to 465 million VND. This is a price that does not include the cost of depreciation, no financial cost and no interest, VinFast is valid for all its electric cars and motorcycles to firmly support consumers.

"Initially, we are targeting the domestic market, we find that the ratio of Vietnamese cars is still very low, equivalent to only 10% in Thailand." Giant if the auto ownership rate in Vietnam may be equivalent to Thailand in the next 5 years " , said Thuy.

Linh Anh

According to new intellectuals / Bloomberg


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