VinFast Auto Ltd. (VFS) shares are holding steady in premarket trading today, following a +12% surge yesterday, fueled by impressive third-quarter electric vehicle (EV) delivery figures.
The company reported delivering a remarkable 21,912 EVs in the third quarter of 2024, representing a substantial 66% increase from the previous quarter and a 116% rise year-over-year.
This achievement highlights VinFast’s rapid growth trajectory and solidifies its position as a dominant force in the Vietnamese EV market. The company has clearly outpaced international competitors, setting a new benchmark for the domestic automotive industry. September was particularly strong, with over 9,300 EVs delivered in Vietnam, setting a record for the highest monthly deliveries in the country.
VinFast’s ‘Fierce Vietnamese Spirit – For a Green Future’ initiative has gained widespread support from individuals and businesses in Vietnam.
This initiative emphasizes social responsibility, focusing on reducing urban pollution and encouraging collaboration among Vietnamese companies to contribute positively to society.
Looking ahead, VinFast is set to release its third-quarter financial results on November 26, prior to market opening.
Analyst consensus estimates project a quarterly loss of 27 cents per share and revenue of $540.58 million. On the same day, management will host a live webcast to discuss the company’s performance and future strategy, providing valuable insights into VinFast’s continued growth plans.
Price Action:
VFS shares are currently trading up 0.47% to $4.250 in premarket trading.
VinFast’s strong Q3 delivery performance underscores its commitment to driving the EV revolution in Vietnam and beyond.
As the company prepares to unveil its financial results, investors will be eager to see if this momentum translates into improved financial performance.
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