VinFast: Sales Increase Amid Vietnam’s Economic Growth and Shift to EVs

Rises to top spot in domestic market share through expansion of low-cost EV lineup and fleet sales

2026/09/08

Summary
Low-price strategy and EV incentives boost VinFast’s growth
Transition to a BEV specialist OEM and shift to emerging Asian countries
Expansion of VinFast's production capacity and global expansion
VinFast sales grow rapidly in the Vietnamese market, while Japanese OEMs' market shares shrink
VinFast's growth continues, boosted by economic growth and EV policy shifts

Summary

VinFast Auto Ltd. (VinFast) is rapidly expanding its sales in the Vietnamese market, leveraging its low-cost EV (electric vehicle) strategy and extensive product lineup. The flagship VF 3 and VF 5 models are in the same price range as ICE Internal Combustion Engine powered) vehicles, attracting first-time car buyers and those switching from ICE motorcycles. In addition, government support measures for EV adoption, development of charging infrastructure, and the expansion of demand by fleets are also boosting sales.

Rising incomes accompanying Vietnam's economic growth are expected to drive the advancement of motorization, and government measures to promote electrification, such as stricter emissions regulations and the introduction of traffic restrictions for gasoline-powered vehicles and motorcycles, are also expected to provide a tailwind. With these market conditions in the background, VinFast is expected to maintain its strong competitiveness in the Vietnamese domestic EV market and continue to expand.


VinFast VF 3 (left) and VF MPV 7 (right) (GAIKINDO Indonesia International Auto Show 2026)

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