VinFast announces jaw-dropping starting price for vehicles

VinFast announced the starting price of its cars at the launching ceremony. Source:VNA

VinFast issued the price list of its cars at the launching ceremony of its vehicles organised on November 20 at Thong Nhat Park.

These are only the listed selling prices, while at the beginning, customers will be able to access significant discounts. Thus, at first, the Fadil will cost VND336 million ($14,608), Sedan Lux A2.0 VND800 million ($34,782), and SUV Lux SA 2.0 VND1.136 billion ($49,391).

“Vinfast cars have impressive prices, so I don’t think that Vingroup will gain profit from these cars, they may even lose on each car sold. The sedan and SUV models are sold at a price lower than the BMW 5 Series and X5 in North American markets (around $50-60,000). The price is quite affordable, previously I thought these models would go for VND1.3-1.5 billion ($56,500 - 65,200),” said Nguyen Thanh Hai (also known as Hai Kar), an automobile expert.

“I cannot comment on the quality of these cars just yet, but their configuration and specifications are all higher than my expectations. For example, the airmatic suspension system has not been seen in cars under VND1 billion. Thereby, Vinfast has been very careful to equip its vehicles. In my opinion, with the affordable price and what it gets, Vinfast stands a good chance of stirring up the market,” Hai said.

In the framework of the launching ceremony, VinFast also officially debuted its electric motorcycles with surprisingly low pricing. Notably, along with the “Three No” policy ­– No Depreciation Charge, No Financial Charge, and No Profit –­ Klara electric motorcycles will also receive a discount policy.

Debuting the cars and electric motorcycles surprised customers because to date the VinFast facilities have yet to begin production. The Fadil model, which was displayed at the launching ceremony, was imported from South Korea and from 2019 they will be manufactured in VinFast’s facilities in Haiphong. Besides, the Sedan Lux A2.0 and SUV Lux SA2.0 are only concept models, not commercial models for manufacturing.

With the selling price of VND423 million ($18,391 excluding VAT) the Fadil will have to compete with other brands at the same segment, namely Hyundai Grand i10 ($13,700-18,000), KIA Morning ($12,600-17,000), Toyota Wigo ($15,000-17,600), and Chevrolet Spark ($11,200-14,300).

"Vinfast cars are quite good-looking. Despite similarities with Chevrolet products, the Fadil seems to be bigger and its features are more rounded. I really love it and intend to buy one for my wife. This segment is the best-selling market segment because it suits the transport conditions in Vietnam.

Meanwhile, I myself am very interested in the strong and luxurious features of the sedan and the SUV, which are very much like the exquisite BMW 5 Series at a far more affordable price," Nguyen Xuan Tung, IT engineer.