Posted on 06/25/2024 9:30:57 AM PDT by Red Badger
HANOI, Vietnam (AP) — Vietnamese automaker VinFast, for a short time the third-most valuable car company in the world, has a big problem: It just can’t sell enough cars.
Idle factories bleed money and the company’s financial health is at stake. After finding the U.S. market a tough nut to crack, Vinfast is hoping its tiniest and cheapest car yet — a roughly 10-foot-long pure battery electric mini-SUV priced at $9,200 and called the VF3 — will become Vietnam’s “national car” and win over consumers in Asian markets.
Designed specifically for the Vietnamese and other Asian markets, the VF3 is priced for “mass appeal”, according to VinFast. It expects bigger sales for it than from earlier models that were meant mainly for export to western countries, Le Thi Thuy, Vingroup’s chairperson, said in an earnings call in April.
VinFast was dreaming of breaking into the big leagues of global automakers when it launched sales in the U.S. last year and listed its shares on the Nasdaq, where its market value briefly surpassed those of General Motors Corp. and Ford Motor Co. in late August.
Investor enthusiasm has since cooled, and its shares are trading below $4 from a peak of $82.35. VinFast is facing delays in construction of a $4 billion factory in North Carolina, where the company said in an email that it is reviewing and evaluating “all aspects of the construction process.” It’s facing legal troubles over a crash that killed four people in California. It’s also dealing with allegations of patent infringement.
(Excerpt) Read more at apnews.com ...
If it ever was allowed here, this would be the best selling pickup:
Maybe call it the Pinto or Escort or Fiesta again, or something like that.
People want a high mileage IC engine, 4 seater, reliable as a Toyota.
Like a Model T!
They should bring back an updated Model T. A Model T definitely could withstand an EMP.
Or they have no parking brakes!
“They are our ‘ally’ now.................”
Seeing “our” reminded me of The Lone Ranger and Tonto being surrounded by hostile Indians. The Lone Ranges says to Tonto, “We are in trouble.” Tonto replies, “What do you mean ‘we’ white man”
HA! First thing I thought of, too.
Yes!
seems like these things might make pretty good golf carts ...
“I went to roll down the window and the handle literally broke off in my hand. “
good thing the dealership didn’t have a “you break it, you bought it” policy!~
I looked for quite a while for a Yugo to make a drag car out of. My neighbor built tube chassis for race cars and said he would help me build one . I figured stretch the wheel base out about 24” and drop a big block Chevy in it and have some fun!
Chevy engine would have probably tore that car apart... heh
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