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Visual21 Nov 2025
Data center suppliers
VinFast Auto (VFS) investor relations material
VinFast Auto Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary21 Nov, 2025
Executive summary
Delivered 38,195 EVs in Q3 2025, up 74% year-over-year and 7% quarter-over-quarter; nine-month global deliveries reached 110,362 EVs, up 149% year-over-year.
Surpassed 100,000 vehicle sales in the first three quarters of 2025, maintaining leadership in Vietnam and expanding internationally.
E-scooter and e-bike deliveries surged 535% year-over-year, driven by policy shifts favoring electric two-wheelers.
Four models ranked among Vietnam's top 10 best-selling cars in 9M 2025, reinforcing market leadership.
Expanded global presence with new showrooms and partnerships in India, Indonesia, the Philippines, the U.S., Europe, and the Middle East.
Financial highlights
Q3 2025 revenue was $719 million (VND18,100.2 billion), up 47% year-over-year and 9% quarter-over-quarter.
Cost of goods sold was $1.1 billion, up 85% year-over-year; gross margin was -56.2%, impacted by delayed revenue recognition and higher warranty costs.
Adjusted EBITDA was -$576 million; net loss was -$953 million, with net loss margin at -132.7%.
Cash and cash equivalents stood at $349 million as of September 30, 2025.
CapEx reached $261 million, up 24% quarter-over-quarter and 108% year-over-year.
Outlook and guidance
On track to at least double 2025 volumes; expect 30,000 vehicle deliveries per month soon.
2026 guidance to be released early next year, with strong growth trajectory anticipated.
Two-wheeler deliveries targeted at 1.5 million units in Vietnam for 2026, about 50% of new sales.
Expanding annual designed capacity to 600,000 cars with new plants in Vietnam, India, and Indonesia.
Growing charging infrastructure and mobility ecosystem across Vietnam and international markets.
What specific actions address gross margin decline?
How will related party EV sales evolve?
What is the long-term funding strategy?
What drives future gross margin improvement?
What is the strategy for international market scale?
New platform: How will it boost competitiveness?
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Next VinFast Auto earnings date
Q4 202520 Feb, 2026
Next VinFast Auto earnings date
Q4 202520 Feb, 2026
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Frequently asked questions
VinFast Auto Ltd. is a Vietnam-based automotive manufacturer that has quickly emerged as a significant player in the electric vehicle (EV) industry. The company's operations span across several segments, including the design, development, manufacturing, and sale of cars and electric buses, as well as e-scooters.The company is headquartered in Hai Phong City, Vietnam, with legal and financial headquarters in Singapore, and its shares are listed on the NASDAQ.
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