Vinfast Q1 Revenue Jumps 150% But Loss Widens: Retail Optimism Surges

Vietnamese EV maker VinFast Auto (VFS) on Monday reported a surge in first-quarter revenue while losses widened.

Total revenue in the quarter jumped about 150% to $656.5 million, above an analyst estimate of $521 million, as per Koyfin data.

Revenue growth was driven by an increase in EV sales volumes, primarily due to growth in the Vietnam market and contributions from new overseas markets, the company stated. EV deliveries rose 296% year-on-year (YoY) to 36,330 in the period, while E-scooter deliveries rose 473% YoY.

Net loss in the period was $712.4 million, representing an increase of 20% from the first quarter of 2024.

Diluted net loss per ordinary share in the period came in at $0.30, compared with a loss of $0.25 in the first quarter of 2024, and above an estimated loss of $0.28.

VinFast Chairwoman Madam Thuy Le noted that deliveries in the quarter exceeded the company's total deliveries for the first half of 2024, despite the first quarter (Q1) typically being the slowest quarter of the year.

The company maintains its target to at least double its global deliveries in 2025. Throughout 2024, the company sold 97,399 vehicles, of which 87,890 units were sold in Vietnam.

VinFast Auto also plans to introduce its next-generation platforms and new Electrical/Electronic architecture starting with the Limo Green model in the third quarter of 2025, and extending to various existing EV models starting in 2026.

VinFast's target markets for the year are Vietnam, Indonesia, the Philippines, India, North America, and Europe. The carmaker is backed by Vietnam's largest conglomerate, Vingroup.

On Stocktwits, retail sentiment around VinFast jumped from 'bullish' to 'extremely bullish' over the past 24 hours while message volume rose from 'normal' to 'high' levels.

A Stocktwits user noted that the company recently launched the EC Van, a compact electric cargo vehicle, in the Vietnamese market. Deliveries are expected to begin in November 2025.

The firm also recently announced the third addition to its portfolio of electric buses, called the EB 6. The 30-occupant city bus model is expected to be available in Vietnam in September 2025, followed by a 20-occupant shuttle or school bus model in the fourth quarter of 2025.

The company's new assembly plant in India is also expected to start operations in July 2025.

VFS stock is down by about 18% this year and by about 13% over the past 12 months.

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(Exchange Rate: 1 VND= 0.000038 USD)

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