Vinfast is an electric vehicle manufacturer from Vietnam. Here we have come up with this article to make you inform that the share price of this Vietnamese EV manufacturer has declined as much as 90 percent from the high raising plenty of concerns for the investors and the company board members. Currently, the aforementioned Vietnamese car brand is showing unwanted attention for more than significant fluctuation in its stock price. As mentioned, the share price of Vinfast has fallen 90 percent from highs. This news came up after the car manufacturer company saw a surge of as much as 700 percent after its debut touching an all-time high but now the value of the stock has changed shockingly. Continue reading this article for more information. Scroll down.
Vinfast Stock Share Price
Currently, the Vietnamese EV manufacturer drew unwanted attention due to fluctuations in its stock price. In August, the EV manufacturer’s share price in the US hit an all-time high and recorded 700 percent growth after its launch. However, the market value of the brand has dropped by more than 90 percent. Recently, market analysts expressed concerns about the car manufacturer brand listed on the Nasdaq, on account of related party-driven electric vehicle (EV) sales, declining customer traction, and frothy valuations. Swipe down the page and read more details.
The US Securities and Exchange Commission filings for the second quarter of the current fiscal year showed that a substantial majority of Vinfast’s EV sales in the nine months of the calendar year 2023 were to related parties or affiliates of its parent. Meanwhile, serious doubts about the company’s ability to establish a robust market presence were raised by this trend. According to data, more than half the EVs sold by the Vietnamese car company VinFast this year have been to a related party, highlighting the market demand for the company’s units.
In the first six months of this year, the company sold a total of 11300 vehicles including 7100 that were sold to Green and Smart Mobility, claiming Vinfast is controlled by the parent Vingroup of the car manufacturer. Vinfast has big international ambitions. Speaking of the early reviews of VinFast’s EVs done by some professional US car reviewers. they called them scathing, “simply not ready”, and “abysmal”. The sales of VinFast aims to deliver between 40,000 and 50,000 vehicles in 2023, despite the challenges posed by a weakened global economy almost 7 times the 7,400 EVs sold last year.