The amount of VinFast Lux A2.0 sold in July are all ‘cleaning’ goods to pay customers who have deposited in late June and early July.
During the June sales report announcement (July 15), VinFast officially announced to stop selling gasoline cars when the Lux and Fadil car shipments were finally ordered by customers. At the same time, the company will focus on production to hand over cars to customers who have signed contracts until the end of August 2022.
As a result, only in July 2022, sales of VinFast Lux A2.0 reached 1,085 vehicles, accounting for 38% of total sales of Lux A2.0 since the beginning of the year (2,834 vehicles).
This sales also helps VinFast Lux A2.0 reach the top 10 best-selling cars in the market, and at the same time, far ahead of competitors in the same price range. In July, Toyota Camry only sold 248 cars, Kia K5 sold 122 cars, Mazda6 87 cars and Honda Accord 17 cars. Calculating, the sales of VinFast Lux A2.0 are nearly 2.5 times the cumulative sales of the four competitors mentioned above in July.
Broadly speaking, in the sedan group, only two B-segment models, Accent and Vios, had higher sales than Lux A2.0 in the past month, with 1,423 and 1,120 vehicles, respectively.
The sudden increase in sales of Lux A2.0 in July is not difficult to explain. In the final stage of receiving product deposits, VinFast has applied a series of programs to support car buyers, helping to reduce the rolling cost of the car.
Specifically, at that time, VinFast promoted 100% of the registration fee for customers to buy Lux A2.0, while still reducing 10% for customers who pay directly. In addition, the company allows users to simultaneously use 3 vouchers for customers buying Vinhomes houses, up to 200 million/voucher.
If you calculate the price of a voucher on the market that is sold for about 70-80 million VND/voucher during that period, customers may only have to pay more than 600 million to complete the rolling of a standard Lux A2.0, ie. is nearly half of the original listing price.
Immediately after this policy was applied, the number of people rushing to buy VinFast Lux A2.0 was so large that dealers had to quickly stop accepting deposits in early July because of limited production. Many people deposit to buy a car but do not know if they are on the list that can receive the car or not. At this time, the market emerged a wave of “hunting” for VinFast Lux A2.0 car deposit orders with a schedule to receive cars for 30-50 million VND / 1 contract.
It is not clear how much % VinFast has paid for pre-ordered cars.
Another VinFast model, Fadil, also achieved sales of 766 vehicles, outperforming rivals such as Hyundai Grand i10 or Kia Morning. When this model is officially out of stock, it is likely that 2 A-class hatchback models from Korea will benefit greatly.
Currently, VinFast is focusing on developing electric car models with the focus on SUV models VF e34, VF8 and VF9. While VF e34 has started handing over since December 2021, VF8 and VF9 have just received the deposit and are expected to hand over at the end of the year.