Home / VinFast News: First U.S. Dealership Launch & Q1 2025 Earnings Report

VinFast News: First U.S. Dealership Launch & Q1 2025 Earnings Report

By: Jasmin Espinas
June 18, 2025

VinFast, a Vietnamese electric vehicle manufacturer, continues to expand into global markets with bold expansion strategies. In recent VinFast news, the EV maker is set to debut its first U.S. dealership in California.

This article breaks down this significant milestone for VinFast, as well as the company’s Q1 2025 earnings results. It also outlines an outlook on where VinFast stands within the current and future EV landscape.

Latest VinFast News: VinFast to Open First U.S. Dealership in California

In this VinFast news, the company confirmed on Wednesday, June 18, the launch of its first authorized dealership in California.

🚗🇻🇳 VinFast Opens First U.S. Dealership in California This Month

Vietnam’s EV maker VinFast will launch its inaugural U.S. dealership in California, expanding its footprint in a key EV market.

The move marks a shift from direct sales as it ramps up U.S. presence. pic.twitter.com/Bc35OrVjr3

— PiQ (@PiQSuite) June 18, 2025

The new location marks a shift toward a broader retail strategy as the company moves beyond its online-only model.

Moreover, this partnership is part of VinFast’s ongoing efforts to strengthen its presence through traditional sales channels in high-demand EV states.

The dealership, which is set in San Diego, is scheduled to open this June.

Customers will be able to view, test drive, and lease or purchase the VF 8, a five-seat midsize electric SUV, and the VF 9, a three-row, seven-seat full-size SUV.

The location will also house full after-sales support, covering warranty work, routine maintenance, and certified parts.

Additionally, the San Diego store, operated by Sunroad Automotive Group, is backed by formal training programs led by VinFast to ensure consistent service and product knowledge.

These efforts aim to support customer experience while laying the groundwork for future dealership collaborations across California.

California remains a focus due to its concentration of EV buyers and infrastructure.

In addition to the San Diego site, VinFast is currently reviewing proposals from other dealership groups across the state as it scales its U.S. rollout.

VinFast News: VinFast Reports Bigger Q1 2025 Loss Due to Higher Spending

VinFast released its unaudited Q1 2025 financials on June 9, highlighting sharp year-over-year growth in deliveries and revenue.

The company reported 36,330 electric vehicle deliveries, nearly quadrupling its Q1 2024 figure.

It also exceeded its vehicle delivery count from the first half of last year, despite the auto sector’s typically slower Q1.

E-scooter performance followed a similar trend. The company delivered 44,904 units, up 473% from the same period last year.

Total revenue reached VND16,306.4 billion (US$656.5 million), reflecting an annual increase of nearly 150%.

These numbers point to continued demand for VinFast products across multiple segments.

Still, operating costs remained high. Gross loss stood at VND5,736.5 billion (US$231.0 million), while net loss widened to VND17,693.8 billion (US$712.4 million).

That said, gross profit margin improved from negative 58.7% in Q1 2024 to negative 35.2%, a shift driven by better cost control and increased production scale.

This VinFast news also ties into the company’s funding efforts.

To maintain growth, Vingroup has pledged additional financing of up to VND35,000.0 billion (US$1.4 billion) through 2026.

By May 31, it had already disbursed VND30,571.3 billion (US$1.2 billion) in loans, reinforcing its commitment to VinFast’s expansion plans.

Final Thoughts

VinFast is adjusting its strategy while scaling operations. Operational metrics show improvement, and the company is expanding its presence in critical markets, signaling intent to compete at scale.

At the same time, ongoing losses may introduce uncertainty. This factor doesn’t undermine VinFast’s ambitions, but it can raise questions about the pace and sustainability of its growth.

To stay current on the latest VinFast news and EV market developments, subscribe to Financial Daily Update today.