According to Automotive News, VinFast is considering selling the VF 3 – the smallest model in its range in the US market.
VF 3 is expected to have a price below $20,000 (equivalent to 490 million VND), suitable for low-income Americans.
VinFast is in the process of establishing a retail network across the US to transition from direct sales to a distribution dealer model.
The consideration of selling the VF 3 in the US is said to be driven by partner demand. In an exchange with Automotive News, VinFast stated: “We are in negotiations with most major reputable distributors across the US. Initial responses have been very positive, the distributors have shown interest in VinFast and our electric models.”
VinFast also added “We are conducting market research for the VF 3 in the US, following the positive feedback from the distributors. More detailed information will be announced later.”
Duke Hale – a VinFast market advisor, stated that last month, the Vietnamese electric carmaker introduced the VF 3 at dealerships in Tampa, Florida and Dallas, Texas. This expert described that at the meeting with the dealers, about 100 people present all expressed the opinion that they wanted the VF 3 for the US market: “They like the entire range of products, but about the VF 3, I have to say, there was nearly 100% positive response. They really like the VF 3 and the reason is probably the price below $20,000.”
VinFast has launched the VF 8 and VF 9, while also planning to sell the VF 6 and VF 7 in the US. The company is also building a production plant in North Carolina to manufacture cars. The four electric crossover models mentioned cover various segments, from small to large three-row seaters.
However, according to Duke Hale, the VF 3 brings things that no other manufacturer can do. This model is expected to have a price of only $20,000, customers in the US when buying the VF 3 can also meet the criteria to receive a $7,500 subsidy (about 190 million VND) from the federal electric vehicle rebate policy. Therefore, the actual value of the VF 3 could only drop to around $12,500 (equivalent to 300 million VND).
Regarding the reasons why US dealers want to have a mini car in a market where consumers tend to prefer large cars, Hale pointed out two factors: “leading competitive price in the market and young customer group”.
The average price for cars in the US is currently nearly at a record high of $47,892 (about 1.16 billion VND) and only 0.3% of new cars sold have a price below $20,000. In addition, the sharp increase in bank interest rates also makes it difficult for people with below-average income to buy new cars. Moreover, recent reports have also shown that cheap car models are gradually disappearing from the market. Therefore, the market for the VF 3 in the US is considered to be very open.
Thái Sơn (Tuoitrethudo)