- The carmaker registered just 448 new units in the U.S. in January and February.
- VinFast has previously said it wants to operate more than 100 dealerships in the U.S.
- New dealers are located in Texas, Florida, Kentucky, and Connecticut.
VinFast has yet to sell more than 1,000 vehicles in the U.S. but has just announced a significant expansion to its retail footprint in the country.
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In its most recent financial report, the Vietnamese company said it was adding 12 franchised dealerships in the U.S., bringing its total number of locations up to 18 across seven states. Five new facilities will open in Florida, four will open in Texas, and VinFast’s first locations in Kentucky and Connecticut will also soon open.
Read: Can The Pint-Sized VF3 Make VinFast A Success In The US?
“Leveraging the network of stores, market experience, and capabilities of leading U.S. dealers, VinFast will quickly deliver high-quality, competitively priced electric vehicles,” the firm’s vice president of sales, David Duncan said. “This establishes a solid foundation for VinFast’s strong growth.”
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The company hasn’t found cracking into the U.S. market easy. Just 265 new VinFast models were registered across the nation last year. Sales have increased this year and 448 units registered in January and February combined. VinFast believes its franchised dealers will contribute to a significant growth in sales in the second half of this year.
VinFast’s sole U.S. model is the VF 8 crossover but the brand will launch its three-row VF 9 this quarter and also plans to add the VF 7 to its range. While its sales have been slow, VinFast remains ambitious. Last year it said it hopes to have more than 100 U.S. dealers by the end of 2024. It is also building a $4 billion factory near Raleigh, North Carolina intending to start production by the end of 2025.
Vehicles built at the firm’s local plant could be eligible for the full $7,500 federal EV tax credit, broadening their appeal. As it stands, the VF 8 is only eligible for the tax credit if it is leased. In January, the VF 8 was available to lease for as little as $249 per month with $0 down over 36 months, but the current cheapest lease is now $429 per month.
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