VinFast Powers Ahead: Q3 Sales Surge 49%, Vehicle Deliveries Double & More

Nabaparna Bhattacharya

November 26, 2024

VinFast Auto Ltd. (NASDAQ:VFS) shares are trading higher on Tuesday.

The company reported a third-quarter loss per share of 23 cents, which beat the analyst consensus estimate for a loss of 28 cents. Quarterly sales of $511.6 million (+49.3%) beat the street view of $477.25 million.

The company delivered delivering 21,912 vehicles, representing a 115% year-over-year increase.

“We expect to finish 2024 on a strong note and meet our 80,000-vehicle delivery target, as the momentum in Q3 has continued into Q4,” said Madam Thuy Le, Chairwoman of VinFast.

Notably, B2C deliveries experienced a considerable quarterly increase of 163%, highlighting strong market demand for VinFast’s EVs.

The gross margin in the third quarter of 2024 was negative 24.0%, compared to the negative 27.0% margin in the same quarter of the previous year.

Also Read: Biden Proposes Medicare, Medicaid Access For Popular Weight-Loss Drugs

Recently, VinFast said its Founder and Chief Executive Officer, Pham Nhat Vuong, and his associated companies intend to provide up $2.1 billion in free grants to the company and its subsidiaries through the end of 2026.

In addition, Vingroup Joint Stock Company intends for it and its subsidiaries to provide VinFast’s subsidiaries incorporated in Vietnam with up to $1.5 billion in loans through the end of 2026.

“Our overall liquidity position has been enhanced by the recently announced loans from Vingroup and grants from our Founder, whereby we expect to receive a potential of $3.5 billion injection by the end of 2026,” said Lan Anh Nguyen, Chief Financial Officer of VinFast.

VinFast aims to meet its annual delivery target of 80,000 vehicles, driven by strong momentum in Vietnam and North America.

The company is focused on cost optimization and improving profitability while expanding its global presence.

Price Action: VFS shares are trading higher by 1.15% to $3.975 at last check Tuesday.

Read Next:

Intel To Receive Nearly $8 Billion In Federal Funding Under CHIPS Act for US Expansion

Image via Shutterstock.

Recommended

If You Hold Any Dollars in Your Bank Account, Read This... - Ad

Legally "Skim" $6,361 Into Your Account? - Ad

The Tesla Shock Nobody Sees Coming - Ad

Popular

Marjorie Taylor Greene Buys Blue Chip Stock Near 52-Week Low

Marjorie Taylor Greene is known for buying multiple stocks at a time, based on recent disclosures. A new filing shows one stock bought in November.

Marjorie Taylor Greene Goes Bargain Shopping, Discloses Buying These Two Stocks At 52-Week Lows

Congresswoman Marjorie Taylor Greene disclosed some new stocks recently. Unlike past trades in 2024 and 2025, the latest disclosure is rather unique.

The Market Just Crossed a Dangerous Line

The Market Just Crossed a Dangerous Line - Ad

The man who predicted the 2008 crash and 2020 says today's soaring markets are NOT a bubble - they're something far stranger and more dangerous. He says it's about to change everything you know about money.

These are the 37 donors helping pay for Trump's $300 million White House ballroom

WASHINGTON (AP) — President Donald Trump says his $300 million White House ballroom will be paid for “100% by me and some friends of mine.”

Trump EPA moves to abandon rule that sets tough standards for deadly soot pollution

WASHINGTON (AP) — The Trump administration is seeking to abandon a rule that sets tough standards for deadly , arguing that the Biden administration did not have authority to set the tighter standard on pollution from tailpipes, smokestacks and other industrial sources.

Global Demand for Defense Metals Is Surging 7X

Global Demand for Defense Metals Is Surging 7X - Ad

Lithium, uranium and titanium are at the center of a global race. Nations are scrambling to secure them for fighter jets, EVs, and reactors. One N. American project could help fill the West's critical-minerals gap.

Schwab: Half Of US Investors May Ditch Other Assets For ETFs — 4 Funds To Watch

Nearly half of ETF investors could go all-ETF within five years, Schwab says. Here's how they're building portfolios with funds like ITOT, BND, and XLK.

Trump-Pardoned Ponzi Schemer Faces 37-Year Sentence For $44 Million COVID Scam

A previously convicted Ponzi schemer who had received a pardon from President Trump is heading back to prison due to involvement in a new fraudulent scheme.

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Washington's push for domestic copper, silver, gold, and tungsten is reshaping the resource landscape. Their neighbor's multi-metal hits, supported by $6M in federal funding and a 300%+ YTD surge, confirmed this Nevada corridor is the right kind of ground. Now another early-stage explorer has stepped into the same trend as interest accelerates.

Here's Why Bitcoin's 'Run' In 2025 Is Nothing Like That Of 2021

Bitcoin's (CRYPTO: BTC) historical top, bottom, and overall cycle structure

How To Earn $500 A Month From HP Stock Ahead Of Q4 Earnings

HP offers an annual dividend yield of 4.75% ($1.16 a year). How can investors exploit its dividend yield to pocket a regular $500 monthly?

Trump Signs Law to Launch Dollar 2.0

Trump Signs Law to Launch Dollar 2.0 - Ad

Trump just signed law S.1582, unleashing the biggest money shift in 100+ years. For the first time since 1913, private firms - not the Fed - can mint a "Dollar 2.0." Treasury says it could drain $6.6T from banks and pay 10X current savings rates. Early investors in minting firms could see 40X returns by 2032.

Warren Buffett Initiates Alphabet Position, Trims Apple In Q3 — Here Are Berkshire's Moves

Warren Buffett's Berkshire Hathaway took a new stake in a member of the Magnificent Seven, while lowering its stake in Apple in the third quarter.

Small Caps, Pharma Surge As AI Rotation Broadens, Nvidia Tumbles: What's Moving Markets Tuesday?

Wall Street's sector rotation entered full throttle Tuesday, with investors pouring into previously overlooked corners of the market amid an AI-driven shift that now favors undervalued small caps and defensive names such as health care.

Trump's DOGE Payouts Keep Flowing (Up to $32K a Year)

Trump's DOGE Payouts Keep Flowing (Up to $32K a Year) - Ad

Musk may be out, but Trump's DOGE program keeps paying. Ordinary Americans can collect up to $8,276 every 3 months - as much as $32K a year. No gimmicks, no federal workers allowed. Start with just $10 and 5 minutes before the next payout hits.

Cathie Wood Bets Big On These Stocks As Bitcoin, Ethereum Crash —Dumps Instagram Rival

On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably increasing its holdings in Bullish (NYSE:BLSH), Coinbase Glo

AT&T reached a $177M data breach settlement. What consumers should know about claiming their money

NEW YORK (AP) — AT&T has reached a combined $177 million settlement over two . And impacted consumers have a little over a month left to file a claim for their chunk of the money.

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26?

Elon's Optimus to Mint New "Musk Millionaires" as Soon as Jan 26? - Ad

Elon Musk may be set to create more "Musk Millionaires" as soon as January 26... Because on that day, he's expected to officially launch his Optimus robot... An AI-powered robot that Elon himself says will be capable of "doing anything bar nothing". Now, it's important to point out that Elon hasn't released it to the public yet... But ahead of the launch, one Silicon Valley insider has identified a "backdoor way" for any American to invest in Optimus with a regular brokerage account...

MacKenzie Scott Has Donated More Than $19 Billion, Yet Her Wealth Grows Faster

MacKenzie Scott, the billionaire philanthropist and ex-wife of Amazon founder Jeff Bezos, has donated a staggering $19.25 billion since 2020.

Some Social Security Recipients Won't Have To Wait Until 2026 For COLA Hike

Social Security and SSI recipients will receive a 2.8% cost-of-living adjustment in 2026, with SSI beneficiaries seeing the increase a day earlier due to a federal holiday.

Buy This Gold Stock Before the New Year

Buy This Gold Stock Before the New Year - Ad

America is about to see a massive shift in how regular people buy and store gold. Next year, the world's largest gold buyer is expected to launch a new way for everyday Americans to invest in gold with a simple tap on their phone - and it could go live in 2026. When it does, a tiny gold stock trading around $1.60 could explode.

Trump Administration Wins Temporary Supreme Court Reprieve In Fight Over Billions In SNAP Payments For 42 Million Americans

The Supreme Court temporarily froze a lower court ruling that had compelled the Trump administration to immediately provide full federal food benefits to roughly 42 million Americans.

Donald Trump's Popularity Falls As Shutdown Drags On

President Donald Trump's approval rating has continued to drop, with the latest poll showing a significant decline, raising concerns for the Republican Party as the 2026 midterm elections approach.

If You Hold Any Dollars in Your Bank Account, Read This...

If You Hold Any Dollars in Your Bank Account, Read This... - Ad

Strange events are unfolding in the global financial system. A monetary reset dubbed the "Mar-a-Lago Accord" is quietly in motion, and the financial elite are already taking protective action. If history is any guide, you could lose up to 40% of your wealth in the next two years. Move your money before it's too late.

Pfizer clinches deal for obesity drug developer Metsea after a bidding war with Novo Nordisk

NEW YORK (AP) — U.S. pharmaceutical giant Pfizer signed a deal to purchase development-stage obesity drugmaker Metsera Inc., winning a bidding war against Novo Nordisk, the Danish drugmaker behind weight-loss treatments Ozempic and Wegovy.

Bill.Com Scales Payments Footprint With 33 Million Transactions

Bill Holdings, Inc. (BILL) reports Q1 fiscal 2026 results, beating analyst estimates with adjusted EPS of 61c and revenue of $395.74M.

Legally "Skim" $6,361 Into Your Account?

Legally "Skim" $6,361 Into Your Account? - Ad

A former hedge fund manager is now sharing his "Skim Codes" with regular people. They're not stocks. They're not crypto. They're 18-character codes designed to profit from recent market conditions. All you have to do is punch them into an ordinary brokerage account. 84% of these codes have given people the chance to generate cash payouts so far... and his next code is going out any day now.

Bill Gates Wasn't Eager To Meet Warren Buffett Until He Learnt This About The Oracle Of Omaha

Bill Gates almost skipped his meeting with Warren Buffett in 1991, but a push from his mother led to a daylong conversation that reshaped his business thinking and began a long friendship.

Investigators look into 'repeating bell' heard during takeoff of UPS cargo plane that crashed

LOUISVILLE, Ky. (AP) — A repeating bell sounded in the cockpit for 25 seconds as pilots tried to control a UPS cargo plane that caught fire, had an engine fall off and this week in Louisville, Kentucky, a National Transportation Safety Board member said Friday.

The Tesla Shock Nobody Sees Coming

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

Trump may become the face of economic discontent, a year after such worries helped him win big

WASHINGTON (AP) — President got a serious that he’s out of touch with their fears about a deteriorating U.S. economy.

Deep in Trump country, coal miners with black lung say government is suffocating the 'working man'

OAK HILL, W.Va. (AP) — Lisa Emery loves to talk about her “boys.” With each word, the respiratory therapist’s face softens and shines with pride. But keep her talking, and it doesn’t take long for that passion to switch to hurt. She knows the names, ages, families and the intimate stories of each one’s scarred lungs. She worries about a whole community of West Virginia coal miners — including a growing number in their 30s and 40s — who come to her for help while getting sicker and sicker from what used to be considered an old-timer’s disease: black lung.

The Market Just Crossed a Dangerous Line

The Market Just Crossed a Dangerous Line - Ad

Bitcoin's Crash Below $100,000 Isn't The End: Wall Street Vet Says: 'We Have To Get Through This'

For the first time since July, Bitcoin (CRYPTO: BTC) fell below $100,000 on Tuesday as the crypto sell-off saw $1.7 billion in liquidations in 24 hours.

Denmark eyes new law to protect citizens from AI deepfakes

COPENHAGEN, Denmark (AP) — In 2021, Danish video game live-streamer Marie Watson received an image of herself from an unknown Instagram account.

Global Demand for Defense Metals Is Surging 7X

Global Demand for Defense Metals Is Surging 7X - Ad

Qatar Airways to sell its holdings in Hong Kong's Cathay Pacific for $896 million

DUBAI, United Arab Emirates (AP) — Qatar Airways will sell its stake in Hong Kong-based Cathay Pacific Airways in a share buyback valued at $896 million, the companies announced, ending the Qatari carrier's .

Why TAL Education, Shake Shack And DexCom Just Appeared On Value Investors' Radars

A trio of stocks made an impressive leap in their Benzinga Edge value scores this week, with one standout making a 138% jump.

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment

The U.S. Wants Metal Independence - And This Nevada Opportunity Fits the Moment - Ad

Serbia passes a special bill enabling Trump's son-in-law to build luxury complex despite opposition

BELGRADE, Serbia (AP) — Serbian lawmakers on Friday passed a special law clearing the way for a proposed real estate project that would be financed by an investment company linked to Donald Trump’s son-in-law despite and legal hurdles.

Trending Now