In the first 11 months of 2025, VinFast delivered a record 147,450 electric vehicles to the market, significantly outperforming traditional manufacturers such as Toyota, Hyundai, Ford, and Mitsubishi. Throughout the year, several VinFast models consistently topped monthly sales charts. Specifically, in October and November, the Vietnamese electric vehicle maker's sales were approximately 3 times higher than its closest rival.

VinFast electric vehicles on the streets of Hanoi. Photo: Tuan Vu

Industry experts note that VinFast's electric vehicle sales are exerting substantial pressure, compelling many traditional car manufacturers to revise their pricing strategies and product offerings. Prior to 2018, the Vietnamese market was largely dominated by Japanese and Korean brands, with vehicle prices generally high compared to regional standards. For instance, C-segment SUVs at that time often had on-road prices exceeding 1 billion VND.

VinFast's entry, particularly with electric vehicle models offering low on-road prices (benefiting from registration fee exemptions) and reduced running costs (including free battery charging and extended maintenance intervals), has attracted both first-time car buyers and the transportation business sector. A VAMA report reveals that as of October, cumulative sales for Toyota Raize, Kia Sonet, and Hyundai Venue dropped by 21%, 29%, and 41% respectively compared to the same period in 2024. The combined sales for these three models totaled 8,859 vehicles over the past three quarters, representing a 30% decline, largely attributed to the dominant presence of the VinFast VF 5.

Users at a "Swap Gasoline for Electric" event organized by VinFast in Hanoi. Photo: Tuan Vu

In the larger vehicle segments, once-popular models such as the Honda CR-V, Hyundai Santa Fe, and Toyota Corolla Cross frequently offer incentive packages, including 100% registration fee waivers and cash discounts ranging from 50 to 200 million VND, to boost demand and reduce inventory. "Previously, manufacturers offered discounts to stimulate demand only at specific times. Currently, many brands maintain continuous incentives, slashing prices and clearing inventory for 'survival'. VinFast's consistently high sales have compelled numerous major brands to re-evaluate their pricing strategies", an automotive sales expert commented. "Regardless of whether they purchase a VinFast vehicle, Vietnamese consumers ultimately benefit."

Beyond pricing, VinFast has also helped the Vietnamese market move past a perceived 'lag' in product offerings, technology, and in-car features. Previously, the market lacked numerous models with active safety features, entertainment options were often scaled back in different versions, and many manufacturers even introduced older vehicle iterations compared to regional markets.

Users learning about features on a VinFast electric vehicle. Photo: Tuan Vu

VinFast, however, adopted a contrasting strategy, equipping a wide array of features even in its standard models. From early vehicles like the Fadil and Lux series to its purely electric offerings, the company consistently leveraged advanced safety technologies, entertainment features, and advanced driver assistance systems (ADAS) as key differentiators. Over the past two years, Japanese and Korean car manufacturers have also begun integrating safety and driver assistance packages into their entry-level A and B segments.

In after-sales service, VinFast pioneered a market-leading warranty policy of up to 10 years, significantly exceeding the industry's standard of three years or 100,000 km. Consequently, traditional gasoline and diesel car manufacturers have progressively extended their warranty periods to five years or 150,000 km to retain customers. Furthermore, in the realm of green transportation, VinFast has taken the lead in developing charging station infrastructure, facilitating the transition to environmentally friendly vehicles.

VinFast VF 3 attracts first-time car users with its accessible price and distinctive design. Photo: Tuan Vu

"From a previously passive position, Vietnamese consumers are now benefiting from this heightened competition, gaining access to vehicles that offer better value, more advanced technology, and superior services from car manufacturers. This represents the most significant market transformation, spearheaded by VinFast's redefinition of the automotive landscape", the automotive industry expert remarked.

Quang Anh