VinFast Auto Q4 Earnings Call Highlights

1 week ago 6

MarketBeat

Mon, March 16, 2026 astatine 8:35 AM CDT 8 min read

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VinFast reported a grounds Q4 with 86,557 EVs and 196,919 deliveries for full-year 2025, and guided to astatine slightest 300,000 EV deliveries successful 2026 portion accelerating planetary trader rollouts and two-wheeler enlargement (targeting ≥2.5x 2025 volumes).
Revenue and margins are improving—Q4 gross was $1.6 billion and full-year $3.6 billion, with gross borderline narrowing to -40% successful Q4—but losses stay ample (Q4 adjusted EBITDA -$1.0 billion; nett nonaccomplishment -$1.4 billion).
VinFast operates planetary capableness of astir 600,000 EVs and 500,000 e-scooters, is expanding overseas factories, and took an astir $236 cardinal impairment connected its North Carolina task portion targeting U.S. accumulation commencement successful 2028 and rolling retired next‑gen platforms and a VF8 REEV for markets with constricted charging infrastructure.
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VinFast Auto (NASDAQ:VFS) utilized its fourth-quarter 2025 net telephone to stress what absorption described arsenic a “disciplined investment” attack aimed astatine scaling volumes and reducing portion costs, portion expanding its merchandise portfolio and planetary footprint. Chairwoman Le Thi Thu Thuy said Q4 2025 was the company’s strongest 4th to day crossed respective cardinal fiscal metrics, and framed 2026 priorities astir scale, outgo optimization, overseas capableness expansion, and greater integration of AI crossed vehicles and factories.

VinFast reported 196,919 EV deliveries for full-year 2025, which absorption said exceeded its guidance to astatine slightest treble 2024 deliveries. Q4 EV deliveries reached a quarterly grounds of 86,557 units. The company’s two-wheeler conception besides deed a caller high, with full-year deliveries rising 5.7 times to 406,496 units.

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VinFast Auto's EV Sales Target: Stock Market Hype oregon Reality?

For 2026, VinFast guided to at slightest 300,000 EV deliveries. Thuy said the people is supported by caller exemplary introductions successful planetary markets, trader web buildout crossed Asia, Europe, and North America, and continued planetary expansion. The institution besides expects two-wheeler deliveries to beryllium at slightest 2.5 times 2025 levels, driven by enlargement into Asian markets, rollout of V-Green’s artillery swapping web for e-scooters, and a absorption connected the largest merchandise segments.

VinFast said Vietnam remained its largest marketplace and that it maintained the number-one OEM presumption there. The institution ended 2025 with an estimated 36% marketplace share versus 22% successful 2024, and said models VF3 and VF5 represented 51% of home volume. For the archetypal clip since it began selling internationally, the institution said overseas markets accounted for 18% of Q4 deliveries and 11% of full-year 2025 deliveries.

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