The VinFast VF 3 is one of the latest offerings from the Vietnamese automotive manufacturer, VinFast. This electric mini car was first unveiled as a concept in July 2023 and delivered to Vietnamese customers less than a year later.
Now, the VF 3 is gearing up for its international launch. VinFast Philippines has announced that the VF 3 will be available in the country from September 17, with several automotive news outlets in the Philippines reporting the story. A photo accompanying the announcement appears to show a shipment of VinFast VF 3 cars in a warehouse in the country.
A fleet of VF 3 cars at the handover ceremony in Hanoi, Vietnam.
The photo reveals seven VF 3 cars in different colors on transport pallets. Notably, the car in green, positioned at the front, features the ‘Creators’ Edition’ badge, suggesting that these are commercial vehicles and not concept or display models as seen at previous exhibitions.
A shipment of VinFast VF 3 cars believed to have arrived in the Philippines in preparation for the upcoming launch.
Along with the launch date, VinFast Philippines has also provided an expected price range for the VF 3. The car is expected to be priced below 800,000 Philippine pesos, which roughly converts to 350 million VND. While the price range has been revealed, specific details about the car’s specifications and features have not been disclosed, but it is likely to share many similarities with the Vietnamese market model.
In Vietnam, the VinFast VF 3 is priced at 240 million VND for the battery leasing option or 322 million VND if customers choose to purchase the battery outright. Additionally, customers can opt for official accessories such as leather seat covers, rim covers, and a rearview camera.
VinFast VF 3 with optional official rim cover accessory.
In the Philippines, the VinFast VF 3 will compete directly with several Chinese manufacturers that dominate the electric vehicle market. Notable competitors include the Wuling HongGuang MiniEV, Jetour Ice Cream EV, and the Baojun YEP.
Not only will the VF 3 compete in the same electric mini car segment, but it will also be competitively priced. The Wuling HongGuang MiniEV is priced at 863,000 Philippine pesos (approximately 378 million VND), the Jetour Ice Cream EV at 699,000 Philippine pesos (about 356 million VND), and the Baojun YEP at 1,083,000 Philippine pesos (around 474 million VND). With a price of less than 800,000 Philippine pesos, the VinFast VF 3 already has a significant advantage over two of its Chinese competitors.
The VinFast VF 3 will compete against the Wuling HongGuang MiniEV in the Philippines.
It is also worth noting the sales performance of Chinese automotive brands in the Philippines. According to Wapcar, Geely and MG, two Chinese manufacturers, are the most popular in the country. However, their sales figures for 2023 show a decrease of 26% and 29%, respectively. This contrasts with the performance of Japanese brands like Toyota and Mitsubishi, which have seen sales increases, with Mitsubishi, in particular, experiencing a 47% growth.
VinFast VF 3 sets a record with an unprecedented number of bookings.
Back in Vietnam, the VinFast VF 3 has achieved a remarkable feat, recording 27,469 non-refundable bookings within just 66 hours of its launch. To put this into perspective, the Mitsubishi Xpander, Vietnam’s best-selling car in 2023, sold 19,740 units throughout the year. If VinFast can deliver on its plan to hand over 20,000 VF 3 cars by the end of December, the model is likely to make an appearance in the annual sales ranking.
However, that is the story in VinFast’s home market. The question now is whether the VinFast VF 3 can replicate this success in a new market?!?
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