Vinfast Deliveries : H1 2023-24

Vinfast is a Vietnamese car company that started out in 2022. Some of its earlier forecasts proved optimistic as is usually the case with newbies. The car industry is complex and starting up is fraught with difficulties, including initial questions raised over assembly quality and software glitches. 

The chart to the right shows 2024 as being down 38% but that compares half of 2024 with a completed 2023. It's actually up 92% comparing H1 periods. 

The full 2024 target is 80,000 units, or an increase of 130% which on the face of it is a sizable jump on first half deliveries of 21,747. How can they reach that? The new VF3 (picture below) is about to be released and has a large domestic order bank to deal with so I assume that's where much of the increase will come from. 

A plant to be built in the US has been scaled back timewise to manage the planned growth in a more measured way. A case of not so fast Vinfast and this is the best policy as reputation is so important. 

Data and picture source: Vinfast.