A Little Good News for VinFast Investors

VinFast, the Vietnamese electric vehicle (EV) manufacturer, has been facing challenges in recent months, with its stock price declining and concerns about its financial health. However, there is a glimmer of hope for VinFast investors. The company recently announced its third-quarter 2024 financial results, revealing a significant increase in revenue and a strong performance in the domestic Vietnamese market.
VinFast's total vehicle deliveries for the third quarter of 2024 amounted to 21,912 electric vehicles (EVs), representing a 66% increase quarter-over-quarter and a 116% increase year-over-year. The company's robust September performance, with over 9,300 EVs delivered in Vietnam, marked a historic milestone for the domestic Vietnamese automotive industry. For the first time, a Vietnamese EV brand outperformed all international competitors to become the market leader.
The company also announced that it will release its 3Q24 financial results before the market opens on November 26, 2024. On the same day, VinFast's management will hold a live webcast to discuss the Company’s business performance and strategy.
While these developments may not fully address the concerns of VinFast investors, they do indicate that the company is making progress in its domestic market and is committed to transparency and communication with its stakeholders. As VinFast continues to navigate the competitive EV landscape, investors should monitor the company's financial performance and strategic initiatives closely.