FYI: VinFast Expands Across 13 States Despite Past Challenges and Offers Tempting Deals
Vietnamese electric vehicle startup VinFast has boldly expanded its footprint across the United States, now boasting dealerships in 13 states: California, North Carolina, Alabama, Florida, Texas, New Mexico, Maryland, Indiana, Illinois, New York, Kansas, Connecticut, and Kentucky. The VF8 Plus and VF8 Eco models are currently the only ones available for purchase, while the VF6, VF7, and VF9 remain listed as "Coming Soon," with pricing revealed for the VF9.
VinFast’s Struggles and Determination
VinFast has had a rocky journey, facing criticism for its initial product launches, including serious quality concerns. Early reviews from driving trials in Vietnam were less than favorable, and negative feedback about the vehicle’s performance has persisted. Additionally, the company has faced allegations of jailing critics in Vietnam who were outspoken about their issues with the cars.
However, VinFast continues to push forward, responding to criticism by updating its VF8 crossover in an effort to improve its quality. The brand has also moved away from its original direct-to-consumer sales model, incorporating dealership partnerships to help reach more customers. Initially, there was only one dealership in North Carolina, but the network has now grown significantly.
Expanded Dealership Network
VinFast has now established a presence in several new states:
- North Carolina
- New York
- Texas
- Florida
- Kansas
- Connecticut
- Kentucky
- New Mexico
- Indiana
- Illinois
- Alabama
- Maryland
This expansion follows an April announcement where VinFast initially revealed partnerships with 12 dealerships. Now, five months later, these dealerships are finally operational, and additional ones have come online.
Website and Deal Discrepancies
Not all is seamless, however. Some dealership websites listed on VinFast’s corporate site are still non-functional. For instance, visiting Tom Wood VinFast in Indiana leads to a blank page, and VinFast of Bowling Green, Kentucky, also lacks a working website despite being listed.
Attractive Financial Offers
Some dealerships are offering significant discounts on VinFast models. For example:
- Pensacola, Florida: Offering $15,000 off the MSRP for VF8 Eco models and $17,000 off VF8 Plus models, reducing the latter’s price to just under $37,000.
- Vestavia VinFast, Alabama: Proposing similar though slightly lesser discounts, making their VF8 supply available for under $40,000.
Despite these attractive deals, the vehicles imported from Vietnam do not qualify for IRA tax credits. Yet, if dealerships honor these discounts, it will likely attract bargain hunters.
Additionally, near-$0 down, $199 per month leases for the VF8 may further entice potential buyers. However, such aggressive pricing strategies may not be sustainable in the long term for VinFast.
Future Prospects
VinFast’s venture into new territories beyond California allows more Americans to explore their vehicles. While the VF8 may not be top-tier, the VF6 and VF7 small crossovers appear to be better built, and the VF9, which now has per-month pricing available, is generating some buzz in the three-row EV segment.
Conclusion
VinFast’s expansion indicates a determined effort to establish itself in the competitive EV market. While past quality concerns linger, these significant price reductions and broader availability could attract budget-conscious buyers. Time will tell if VinFast’s strategy of steep discounts and increased accessibility will pay off.
VinFast continues to make headlines as it navigates its challenges, signaling that more dealerships could be arriving near you soon. Have you experienced VinFast yet? Share your stories and insights with us.
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William Kouch, Editor of Automotive.fyi
