Q3 2025 VinFast Auto Ltd Earnings Call Transcript
Key Points
- VinFast Auto Ltd (VFS) achieved a significant milestone by surpassing 100,000 vehicle sales within the first three quarters of 2025, marking 13 consecutive months as Vietnam's best-selling carmaker.
- The company delivered 38,195 EVs in Q3 2025, representing a 74% increase year over year and 7% quarter-over-quarter growth.
- VinFast Auto Ltd (VFS) is expanding its international presence, with successful market entries in India and Indonesia, and plans to strengthen its dealership network in the US and Europe.
- The company is investing heavily in R&D, focusing on vehicle platform, electrical and electronic architecture, and autonomy to enhance long-term competitiveness.
- VinFast Auto Ltd (VFS) has a strong liquidity position with USD3.7 billion available, providing approximately 18 months of runway to support operations and growth plans.
- VinFast Auto Ltd (VFS) reported a negative gross margin of 56.2% in Q3 2025, impacted by timing differences in revenue recognition and higher warranty costs in the US and Europe.
- The company's net loss for the quarter was USD953 million, with a net loss margin of negative 132.7%.
- Operating expenses increased, with SG&A expenses rising by 27% quarter over quarter and 25% year over year, partly due to an impairment charge for the battery project.
- The company faces challenges in the US market due to tariff situations and instability in the EV market, leading to a cautious approach in expanding dealerships.
- VinFast Auto Ltd (VFS) is still in its growth phase, requiring continued investment in R&D and facing significant white space opportunities across core markets, which may delay profitability.
Good day, and thank you for standing by. Welcome to VinFast Auto Limited third-quarter 2025 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I'd now like to turn the call over to your first speaker today, Ms. Nhi Nguyen. Please go ahead.
Thank you, operator, and good morning, everyone. Welcome to VinFast's quarterly earnings call. Joining me today are Chairwoman of the Board, Madam Thuy Le; Deputy CEO of Investments, Ms. Anne Pham; and our CFO, Ms. Lan Anh Nguyen.
Before we begin, please note today's call will include forward-looking statements under US federal securities law. These statements reflect our current views on future events, financial operational performance, and other matters that involve risks and uncertainties, which may cause actual results to differ materially. Please refer to our most recent filings with the SEC for a discussion of these risk factors.
We will also reference certain non-GAAP financial measures. A
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
