“The opportunity for VinFast is bigger than foreign car companies”

In the last days of July and early August, a series of new VinFast showrooms have landed in many provinces and cities. Most of these are showrooms of distributors with large scale and modern equipment, showing the great expectations of investors for VinFast electric vehicles.

It is worth noting that most of VinFast’s new distributors have previously worked with foreign car manufacturers. For example, Merry Auto Co., Ltd. has just opened VinFast Ha Tinh and Bac Tay Nguyen JSC has just opened VinFast Gia Lai showroom, which was previously an agent for a long-standing Japanese car manufacturer. In addition, partners who used to distribute for Korean and Chinese car manufacturers have also decided to stop playing with foreign cars to join VinFast’s network.

Regarding the reason for the conversion, most distributors have the same assessment, VinFast electric cars with top quality, competitive prices and good policies, will bring more revenue opportunities than previous gasoline car brands.

Mr. Nguyen Quang Nam, CEO of Merry Auto Co., Ltd. (the unit that just opened VinFast Ha Tinh) explained that the reason his unit switched to distributing for VinFast is because this is a favorite brand in Vietnam. This love stems from the fact that VinFast has prioritized safety and quality in the production and product development process. All car models meet international safety standards and are equipped with advanced technology.

In addition, from a business perspective, the Merry Auto leader sees potential in the competitive prices of VinFast products compared to competitors and good after-sales policies, helping customers feel secure and satisfied after buying a car. “This helps promote access to a large number of Vietnamese consumers, especially young people who want to buy cars,” he said.

Meanwhile, the leader of Bac Tay Nguyen JSC (Gia Lai) explained that he stopped playing with the Japanese car company because the unclear strategy made the company not confident enough to maintain. On the contrary, with VinFast, he saw potential and opportunities for positive development. In addition, distributors like Bac Tay Nguyen JSC also enjoy accompanying support policies in many aspects, from investment in renovation, new construction to human resource support from the VinFast team.

Green transformation turning point

In addition to revenue potential, many distributors believe that one of the important reasons why they come to the Vietnamese car company is VinFast's meaningful call for "For a green future". Mr. Bui Van Hao - Chairman of the Board of Directors of VinFast Phan Trong Tue - the partner with the largest VinFast showroom in Vietnam, which opened in early August, affirmed his pride in accompanying the first electric car brand in Vietnam.

“From the saying ‘Fierce Vietnamese spirit – For a green future’, we have always aimed to become the first green transformation enterprise. Currently, we use solar energy for up to 70% of the enterprise’s electricity consumption,” Mr. Hao shared.

Along with the wave of conversion of automobile businesses, businesses in the transportation service industry are also witnessing a clear trend of electrification. Speaking at a recent workshop, Mr. Nguyen Ngoc Dong - General Director of Dong Thuy Company Limited (operating unit of Lado Taxi in Lam Dong, one of the pioneers in switching to electric vehicles) also agreed, one of the first reasons the company switched to electric vehicles was "for a green future, for our children".

In addition, Mr. Dong believes that running a taxi business using electric cars is much more profitable because of its ability to save costs, optimize profits and give customers a good service experience. The leader expects that by the end of 2024, Lado Taxi will operate a fleet of 100% pure electric 4-seat taxis.

Appreciating this shift, Mr. Tran Vinh Tuyen, an expert in monitoring the automobile market, said that VinFast's call is clearly having an impact on the business community in reality. "VinFast's pioneering has created a chain reaction in the business community. Businesses have understood the advantages of electric vehicles and the green transition trend, so they want to act early," the expert said.

From this change, Mr. Tuyen believes that the market is facing an important turning point to create a breakthrough in green transformation. According to him, Vietnam has all three factors to create a leap in green transformation, including the Government's goals, the transformation of the business community and the consumption trends of the people.

Speaking about VinFast in particular, the expert said that with the current positive transformation trend, along with the impressive results of each car line, VinFast has a great opportunity to become number 1 in Vietnam.

“I expect and believe that VinFast will take the number 1 position in the Vietnamese market this year. Companies that stick to gasoline vehicles are gradually declining while foreign electric vehicle manufacturers are not showing proper investment and are not qualified in terms of products, services, and infrastructure to be able to compete with VinFast,” the expert assessed.

PV