Electric vehicle manufacturer VinFast is making significant strides in the automotive industry, with its customer-centric approach and emphasis on after-sales service driving adoption and market growth. The company's recent performance figures and strategic initiatives highlight its commitment to advancing the global shift toward electric transportation.
In the third quarter of 2024, VinFast reported a substantial increase in electric vehicle deliveries, with 21,912 units delivered, representing a 66% increase from the previous quarter and a 115% rise compared to the same period in 2023. Notably, business-to-consumer (B2C) deliveries surged by 163% quarter-over-quarter, indicating strong consumer demand for VinFast's electric vehicles.
A key factor in VinFast's growth strategy is its focus on after-sales service, which aims to provide customers with a seamless ownership experience. This approach is particularly important in the evolving electric vehicle market, where consumer confidence is still developing. A 2023 YouGov survey found that 75 percent of global consumers consider warranties crucial when purchasing a vehicle, underscoring the importance of VinFast's robust warranty policies.
In the United States market, VinFast offers industry-leading warranty coverage for its electric vehicle models. The D-segment SUV VF 8 comes with a 10-year, 125,000-mile vehicle warranty and a 10-year, unlimited-mileage battery warranty for non-commercial use. The company's recently launched E-segment SUV VF 9 also boasts a 10-year, 125,000-mile warranty, complemented by 24/7 roadside assistance and mobile repair services.
VinFast's commitment to customer support extends beyond warranties. The company is rapidly expanding its network of stores, service centers, and dealerships across the United States. With partnerships established with 36 dealerships across 15 states, VinFast aims to provide comprehensive support to its growing customer base. This expansion is crucial for delivering a premium EV ownership experience and building consumer trust in the brand.
The company's success is not limited to the U.S. market. In Vietnam, VinFast has emerged as the best-selling automotive brand, delivering more than 51,000 EVs from January to October 2024. The company's extensive service network, comprising 111 workshops nationwide as of November 2024, has played a significant role in building customer confidence and driving sales growth.
VinFast's approach to after-sales service sets it apart from traditional automakers. By prioritizing customer satisfaction and investing heavily in service infrastructure, the company has quickly gained market share in Vietnam, surpassing established competitors with decades of experience. This success demonstrates the importance of a customer-centric strategy in the rapidly evolving electric vehicle market.
As VinFast expands globally, its focus on after-sales service and customer experience is likely to be a key differentiator. The company's ability to adapt its strategies to suit specific market needs while maintaining its core philosophy of customer-centricity will be crucial for its long-term success.
The implications of VinFast's approach extend beyond the company's own growth. By prioritizing after-sales service and offering robust warranties, VinFast is addressing key concerns that have historically hindered EV adoption. This strategy could potentially accelerate the broader transition to electric mobility by building consumer confidence in EV technology and ownership experience.
Furthermore, VinFast's success could prompt other automakers to enhance their after-sales services and warranty offerings, ultimately benefiting consumers and potentially accelerating the global shift towards sustainable transportation. As the electric vehicle market continues to evolve, VinFast's customer-centric approach may serve as a model for industry growth and consumer satisfaction in the EV sector.
