VinFast Auto's revenue for Q3 2024 was $1.62 billion, with significant contributions from the Automobiles segment ($1.62 billion), Sales of Vehicles segment ($554.53 million), E-scooter segment ($93.51 million), Other segment ($88.43 million), Sales Of Spare Parts and Components segment ($26.46 million), Rendering of Services segment ($25.1 million), Revenue from Leasing Activities segment ($17.82 million), Electric Bus segment ($5.38 million), and Sales of Merchandise segment ($2.47 million)1.
However, the company reported a gross loss of $224 million for Q2 2024, with a gross margin of minus 62.7%, worsening from Q1 2024 and Q2 2023. This indicates that the company's cost management is a significant challenge, and they are operating at a loss2. The R&D expenses for Q3 2024 were $86.83 million3, which is a key component of the company's investment in its future product offerings, despite the current financial strain.
VFS Gross Profit Margin, Gross Profit Margin YoY