VINFAST Auto Philippines Corp. is projecting sales of more than 8,000 units this year, as elevated and volatile fuel prices continue to steer Filipino consumers toward its battery electric vehicles (BEVs).

“I project our sales to exceed 8,000 units, because we expect maybe about a thousand per month sold from October to December,” Victor Jose Vela, deputy chief executive officer of VinFast Auto Philippines, told reporters on Monday.

By the end of September, the Vietnamese automaker’s local unit had sold 5,417 vehicles, a sharp rise from 115 units a year earlier and roughly 47 times the year-ago volume. The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI), an industry association that tracks vehicle sales in the country, ranked VinFast as the country’s top-selling BEV brand over the nine-month period.

Mr. Vela attributed the strong performance to demand for more energy-efficient modes of transport after fuel prices turned volatile in the wake of the Middle East fighting.

“People are opting for alternative means of transportation, alternative sources of fuel, which is the electrified segment,” he said.\nUnlike gasoline- or diesel-fed vehicles, BEVs run exclusively on electricity, so their day-to-day running costs do not move with pump prices.

The VF3, VinFast’s all-electric sport utility vehicle (SUV), has been the brand’s best-selling model in the Philippines, accounting for 70% of its sales.

VinFast is set to launch its all-new VF8 electric SUV in November. The VF8 is classified as a D-segment vehicle, the European designation for large family cars and compact executive cars.

“We have another three to four new models to be introduced in the next six months,” Mr. Vela said.

O2O Platform Launch

Also on Monday, VinFast rolled out its online-to-offline (O2O) platform in the Philippines, allowing users to explore and order vehicles online, book test drives, and arrange deliveries.

“The key advantages now are convenience, transparent pricing, and a more personal experience for our customers,” Roxildes Lacerna, deputy chief executive officer of the VinFast O2O Platform, said during the launch.

Mr. Lacerna said the platform is intended to complement, rather than compete with, the company’s dealerships, noting that while some customers prefer to buy vehicles online, others opt for the onsite experience.

“It complements them by giving our customers more choices and flexibility in how they would like to buy their next vehicle,” he said.

VinFast currently operates about 40 dealerships in the Philippines, most of them concentrated in Metro Manila, and is aiming to expand the network to 60 by the end of the year, a roughly 50% increase.

The company’s parent, Vingroup, one of Vietnam’s largest conglomerates, has announced plans to build a P32-billion (Philippine peso) production facility in the Philippines and has expressed interest in availing of tax incentives for local vehicle manufacturing.

— Beatriz Marie D. Cruz

Source: BusinessWorld