VinFast’s US Strategy: Taking Responsibility with Long Warranties

Unlike other companies that only prioritize sales volume, VinFast has invested significantly in cultivating strong customer relationships. This is achieved through exceptional after-sales support and the provision of long warranties. This approach not only drives sales but also fosters lasting customer loyalty. Furthermore, VinFast’s commitment to offering long warranties underscores the company’s confidence in its product quality. This is because long-term success cannot be sustained by offering extensive warranties for low-quality goods.

Car warranties have a long history, predating the electric vehicle era. Traditionally, automakers with superior after-sales service have enjoyed a competitive edge. This remains true today, with a 2023 YouGov survey revealing that 75% of global consumers prioritize warranties when purchasing a vehicle.

This emphasis on warranties is understandable. A robust warranty safeguards owners from unexpected repair expenses, a crucial factor in the electric vehicle market where consumer trust is still evolving.

VinFast customers in the U.S. market consistently express satisfaction with the brand’s after-sales support, particularly its industry-leading 10-year/125,000-mile bumper-to-bumper warranty.

“It Provides Me with Significant Peace of Mind”

When asked about the importance of warranty coverage in electric vehicles and the impact of VinFast’s 10-year warranty, Jason Cheung, Staff Services Manager for the government, enthusiastically stated, “It sure does! It’s paramount to have the 10 year/125,000 miles bumper to bumper warranty.”

Similarly, Hung Pham, an Electronic Engineer, emphatically agreed that VinFast’s 10-year warranty provides him with significant peace of mind: “Yes, yes, and yes!”.

VinFast has recently begun delivering its flagship VF 9, a 7-passenger, 3-row all-electric SUV, to U.S. customers. This event underscores VinFast’s commitment to providing environmentally conscious consumers with premium options in the full-size SUV segment, which currently has limited electric vehicle offerings.

The VF 9 is distinguished by its industry-leading warranty and service package, encompassing 10 years or 125,000 miles of vehicle coverage, along with 24/7 roadside assistance and mobile repair services.

The VF 9 will be available in two versions: Eco, priced at $69,800, and Plus, priced at $73,800. As part of a limited-time promotion for the first 100 VF 9 vehicles delivered in the U.S., VinFast is offering qualified lessees the Plus version for a lease price of $529 per month. This rate includes a direct discount of $3,500 and a down payment of $2,000. VinFast VF 9 Eco will be available in the U.S. market later this year.

Beyond its inclusive pricing, VinFast enhances consumer value through an exceptional after-sales policy. This comprehensive approach extends beyond the initial purchase, minimizing long-term ownership costs for customers.

Tony Nguyen, an Engineer, expressed his appreciation for VinFast’s 10-year warranty, stating that it provides him with significant peace of mind. He encourages everyone to personally experience the VinFast’s vehicles through a test drive to fully appreciate its driving dynamics.

Behind VinFast’s Long-term Commitment: A Testament to Product Confidence

VinFast’s introduction of this after-sales policy reflects the company’s confidence in the quality and durability of its vehicles. This initiative further emphasizes VinFast’s dedication to customer satisfaction and providing exceptional after-sales support.

Aligned with its “customer-centric” philosophy, VinFast prioritizes continuous service improvement and maximizing user benefits. The Vietnamese Nasdaq-listed electric vehicle manufacturer believes that customers in all markets will recognize and appreciate these efforts, fostering a positive perception of VinFast’s approach.

In the U.S. market, VinFast prioritizes long-term customer relationships and exceptional after-sales service over short-term sales gains. This customer-centric approach fosters trust and cultivates loyal customer bases.

This strategy has proven highly effective. Despite the dynamic evolution of the global electric vehicle market, VinFast continues to experience growth, solidifying its position as a leading pure-play electric vehicle manufacturer dedicated to accelerating the global transition to electric transportation.

In the third quarter of 2024, VinFast delivered 21,912 electric vehicles, a 66% increase from the second quarter and a 115% increase from the same period in 2023. Notably, B2C deliveries surged 163% quarter-over-quarter, indicating strong consumer demand for VinFast’s EVs.

Industry experts attribute VinFast’s growth in part to its strategic focus on exceptional after-sales service, designed to create a seamless and positive ownership experience for electric vehicle customers. This commitment to premium products, inclusive pricing, and exceptional after-sales support forms the foundation of VinFast’s success strategy.

Fundamentally, no promotional efforts or after-sales programs can compensate for a subpar product. Businesses cannot sustain long-term success by offering extensive warranties on low-quality goods.

VinFast adheres to this principle. The company’s paramount objective is to prioritize customer satisfaction and ensure maximum value for VinFast vehicle owners.

VinFast’s customer-centric strategy, prioritizing after-sales service over short-term sales gains, has proven highly successful in the Vietnamese market. According to Vietnamese auto market analyst Phan Thanh Man, “Unlike traditional manufacturers that primarily focus on sales volumes, VinFast has invested heavily in building strong customer relationships through exceptional after-sales support. This approach not only drives sales but also cultivates enduring customer loyalty.”

This customer-centric focus explains VinFast’s rapid market share growth in Vietnam, surpassing established automakers with decades of experience.

As VinFast expands its global presence, the company will adapt its strategies to effectively address the unique needs and preferences of each market. However, the core principle of prioritizing customer experience will remain steadfast. 

By placing the customer at the center of all operations, VinFast strives to provide an exceptional ownership experience throughout the entire vehicle lifecycle. This customer-focused approach will enable VinFast to contribute meaningfully to the global transition to electric transportation.