VinFast VF 5 Vietnam’s most popular car by wide margin

A person familiar with the matter told VnExpress that 20,000 VF 5s were sold globally.

Mitsubishi Xpander was the second most popular car in Vietnam with 7,773 units, followed by the Ford Ranger, which sold almost exactly the same number.

But analysts said it is still early to decide if VinFast has won over Vietnamese consumers with the crossover VF 5 as a large number were bought to be used as taxis and ride-hailing vehicles.

“Eventually all car manufacturers want to sell to retailers, not taxi companies,” an analyst who asked not to be identified said.

VinFast is making efforts to convince retail consumers to buy the VF 5 by offering personalized color choices and other incentives.

Many ride-hailing drivers buy the VF 5 for its affordable price and the fact that electricity is cheaper than gasoline.

Overall, 154,265 cars were sold in the first six months, down 7% year-on-year, according to data from the Vietnam Automobile Manufacturers Association and Hyundai Thanh Cong, which sells Hyundai cars.

VinFast does not release data by market but said it delivered 21,800 units globally, down 8% year-on-year.