Experts at BCA 2024: "VinFast will continue to lead the electric vehicle trend in Vietnam for the next 5 years."
The trend of electric vehicles is gradually developing in the Vietnamese market, with VinFast continuing to play a pioneering role. This automaker is highly regarded for its rapid growth and potential to lead the market in the near future.
According to a report from the International Energy Agency (IEA), nearly 14 million electric vehicles were registered globally in 2023, accounting for about 18% of total vehicle sales, up from 14% in 2022. The IEA predicts that electric vehicle sales in 2024 could reach around 17 million units.
In Vietnam, the trend of electric vehicles has begun to take shape over the past three years, starting with VinFast’s introduction of models like the VF e34, VF 8, and VF 9, followed by VF 5 Plus, VF 6, VF 7, and most recently, VF 3. In the luxury segment, brands such as Mercedes-Benz, BMW, Audi, and Porsche have also started selling electric vehicles. The budget electric vehicle segment is also welcoming more models from new brands like Wuling, MG, BYD, and AION.
VinFast's electric vehicle sales clearly reflect a positive reception from consumers. According to the company’s data, in the first half of 2024, VinFast delivered a total of 22,348 electric vehicles, marking a 101% growth compared to the same period last year.
VinFast will continue to maintain its leading position in the trend of electric vehicles in Vietnam
Although the electric vehicle market is expected to become increasingly competitive, many experts on this year’s Better Choice Awards (BCA) jury believe that VinFast will still play a leading role in the market for the next 3-5 years.
Associate Professor Dr. Dam Hoang Phuc, a member of the BCA 2024 Jury and Director of the Automotive Engineering Training Program at Hanoi University of Science and Technology, stated: “The shift towards electric vehicles is inevitable. Therefore, all electric vehicle manufacturers want to enter the Vietnamese market and will have their own strategies to capture market share. As a result, competition in the future will be even fiercer.”
According to Associate Professor Dr. Dam Hoang Phuc, two key factors will give VinFast a significant advantage: first, VinFast vehicles are produced domestically, which ensures a flexible and convenient supply chain for consumers. Second, a widespread network of charging stations across the country supports users to the maximum.
Additionally, Mr. Nguyen Thuc Hoang Linh, another member of the BCA 2024 Jury, emphasized a third strength of VinFast: its diverse product range. He believes that VinFast's expansion of its product portfolio, covering almost all segments, will help solidify the company's position in the future. He is confident that this is a strong foundation for VinFast to continue progressing in its quest to win over Vietnamese consumers.
While acknowledging that more new electric vehicle models are entering Vietnam, especially from Chinese brands, Mr. Linh believes that new manufacturers will find it challenging to grasp the preferences of Vietnamese consumers. This makes it difficult for them to meet the daily usage needs of Vietnamese people as effectively as VinFast is doing.
VF 6 and VF 7 are the standout electric vehicle models
Among VinFast's entire range of electric vehicles, the VF 6 and VF 7 models have excelled by winning 4 out of 7 categories at the Better Choice Awards 2024 (the 8th category is for the brand). Specifically, the VF 6 won the "National Vehicle for New Users" and "Pioneering Green Energy Vehicle" awards, while the VF 7 won in the "Trendsetting Vehicle" and "Breakthrough Design in Modern Cars" categories.
VinFast VF 6 is a B-segment SUV/crossover that stands out from competitors in its class due to its powerful engine (210 horsepower) and modern technologies such as a 12.9-inch touchscreen, heads-up display (HUD), virtual assistant ViVi, and ADAS driving assistance system. Additionally, the VF 6 is environmentally friendly and has lower operating costs compared to gasoline vehicles. This explains why the model has been recognized by the user community and experts as the "national vehicle for new users."
VinFast VF 7, which belongs to a larger segment, attracts attention due to its unique design inspired by the aerospace industry, crafted by the renowned Torino Design studio. The VF 7 also stands out for its sporty performance, with a power output of up to 349 horsepower and 500 Nm of torque, making it comparable to high-performance sports cars.
Mr. Nguyen Manh Thang, an automotive expert with over 20 years of experience and a member of the jury, commented: "I often say that in Vietnam, a good car doesn't necessarily sell well, but a beautiful car will definitely attract buyers. Clearly, both VF 6 and VF 7 are impressively designed vehicles in their respective segments. Furthermore, their equipment is clearly superior to that of competitors. In VinFast's current product line, the VF 6 and VF 7 also feature more innovative and youthful designs."
Original article and pictures by AutoPro
