Vietnamese automaker VinFast is pulling a late demand lever in 2024 to entice US clients to get behind the wheel of its VF 8 SUV. Designed for SUV-loving households within the US, the VinFast VF 8 is now out there to lease for nicely beneath $300 a month with $0 down.
The VF 8 is VinFast’s ($VFS) flagship EV, hitting the US market two years in the past as a 2023 mannequin. We drove the VF 8 early on, and it was wonderful, however there have been some clear bugs that wanted to be sorted out. We famous that 2024 could be a pivotal yr for the Vietnamese automaker trying to elevate revenues and make up for missed supply targets in 2023.
This yr, the automaker turned to its guardian firm, Vingroup, and its founder for extra funding whereas launching two new fashions, together with the three-row VF 9.
Though it confronted early software program hiccups, VinFast pushed ahead to get extra of its VF 8 SUVs on US roads, pulling demand levers whereas increasing its stateside supplier community. At the moment, VinFast has introduced an attractive new lease program for the VF 8 that requires $0 down at signing.
VinFast is providing a VF 8 lease for $279/month
VinFast revealed a press launch at the moment that’s extra of a love letter to its flagship VF 8 SUV, which features a little tidbit a few new lease deal. When you get by means of the paragraphs of the Vietnamese automaker shilling its innovation and nod to its spot on TIME’s 2024 checklist of influential firms, there’s a juicy little bonus for any clients inquisitive about a brilliant low cost EV lease from a comparatively unknown and unproven automaker.
VinFast hailed its new VF 8 lease supply as one of the vital aggressive within the US, and that’s arduous to argue. Proper now, you’ll be able to lease a base-level ECO trim of the SUV for $0 down and $279 a month thereafter. The VinFast VF 8 lease time period is 24 months and consists of 10,000 miles a yr.
Be aware that VinFast doesn’t have showrooms in all 50 states but, so if , it’s finest to see if the VF 8 and subsequent lease are even doable in your space. What do you assume? Would you take a look at out a VF 8 for 2 years and avoid wasting inexperienced?
Electrek’s take
The worth of this lease supply for a VF 8 from VinFast can’t be denied, nevertheless it’s nonetheless a troublesome promote for quite a few causes. As somebody who has pushed the VF 8, I feel it’s greater than sufficient and might do the job for many individuals, particularly these new to EVs who don’t have something to match it to.
My first trip was far too early on within the improvement course of, and there have been too many points for me to overlook, so I’d personally move on this supply. Nevertheless, VinFast has completed quite a lot of work to resolve these software program points for different customers.
I nonetheless assume the largest hurdle right here is model consciousness. The typical US shopper has no thought VinFast exists and isn’t looking for out extra info on it to maybe come across this VF 8 lease deal. It’s a steal for individuals who are conscious of the model and really feel snug committing to 2 years of driving one, however that appears like a distinct segment phase in an already small market pattern.
I additionally assume this demand lever exhibits proof that VinFast is just not making the affect on the US promote it had hoped with the VF 8. I’ll have an interest to see the place their 2024 financials land and the way these examine to a yr in the past, when deliveries had been decrease than anticipated. We are going to control that and report again.
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