VinFast, the Vietnamese automaker, is facing an unsurprising lack of enthusiasm from American consumers for its overpriced and underperforming electric crossover. According to data from Experian, only 128 units of the VinFast VF 8 crossover were registered in the United States between January and May of this year. Despite importing nearly 3,000 vehicles into North America since March, the company’s U.S. deliveries have gotten off to a slow start.
The initial lukewarm response was somewhat expected, considering the VF 8 City Edition’s original price tag of $55,500 and its disappointing range of just 179 miles (288 km). In an attempt to salvage sales, VinFast reduced the price and increased the range to 207 miles (333 km) in January. However, these improvements still fell short of meeting consumer expectations, resulting in scathing reviews from critics.
Nevertheless, VinFast has been making efforts to refine the VF 8 City Edition, leading to a recent price drop to $46,900. Unfortunately, the lack of federal incentives for this particular crossover raises further doubts about its value proposition. Despite the challenges ahead, VinFast managed to secure more new electric vehicle registrations than well-established brands such as Jaguar, GMC, and Mazda. This surprising achievement can be partly attributed to the aging Jaguar I-Pace and the limited range of the Mazda MX-30 EV, which offers a mere 100 miles (161 km) of range.
As VinFast strives to gain traction in the American market, they will need to address the concerns surrounding their pricing, performance, and overall value.