VinFast Reports Unaudited Second Quarter 2026 Financial Results

Overseas markets accounted for approximately 11% of quarterly electric vehicle deliveries.

Rhea-AI Summary

VinFast (NASDAQ: VFS) reported unaudited second-quarter 2026 revenue of US$1,203.7 million as electric vehicle deliveries rose from both comparison periods. Revenue increased 32.9% from the first quarter and 85.5% year over year. Electric vehicle deliveries reached 70,085, up 20% sequentially and 96% year over year; approximately 11% went to markets outside Vietnam. E-scooter and e-bike deliveries reached 286,039, up 100% sequentially and 311% year over year.

Vehicle sales revenue was US$1,143.9 million, up 33.4% sequentially and 92.7% year over year. The VF 8 and VF 2 generated more than 12,700 and 28,700 reservations, respectively, but reservations are non-binding and cancellable until deposits are placed. VinFast plans a 200-vehicle autonomous taxi pilot in late 2027, subject to regulatory approvals, and expects to bring the VF Wild to international markets next year.

10 points · 0 major

PositiveiHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointRevenue of US$1,203.7 million increased 32.9% sequentially and 85.5% year over year in Q2 2026.
• Moderate point70,085 electric vehicle deliveries rose 20% sequentially and 96% year over year in Q2 2026.
• Moderate point286,039 e-scooter and e-bike deliveries increased 100% sequentially and 311% year over year in Q2 2026.
• Minor pointVehicle sales revenue of US$1,143.9 million increased 33.4% sequentially and 92.7% year over year.
• Minor pointVF 8 reservations exceeded 12,700 within days of launch.

5 minor points

• Minor pointVF 2 reservations exceeded 28,700 within days of launch.
• Minor point. Forward-looking: it has not happened yet and may not happen.200 Level 4 robotaxis are planned for a late-2027 pilot at Vinhomes Green Paradise in Can Gio.
• Minor point. Forward-looking: it has not happened yet and may not happen.VF Wild international rollout is expected next year following availability in Vietnam.
• Minor point. Forward-looking: it has not happened yet and may not happen.International expansion plans include scaling activities in the Philippines, Indonesia and India, alongside expansion in the United States and Europe.
• Minor point. Forward-looking: it has not happened yet and may not happen.Manufacturing and assembly capabilities are being strengthened alongside distribution expansion, primarily through dealer partnerships.

Negative

• Minor pointVF 8 and VF 2 reservations are non-binding and cancellable until customers place deposits.
• Minor point. Forward-looking: it has not happened yet and may not happen.Late-2027 robotaxi pilot depends on obtaining required regulatory approvals.

Key Figures

Total revenue: VND30,340.9 billion (US$1,203.7 million); +32.9% QoQ; +85.5% YoY EV deliveries: 70,085; +20% QoQ; +96% YoY E-scooter and e-bike deliveries: 286,039; +100% QoQ; +311% YoY +1 more

Total revenue

VND30,340.9 billion (US$1,203.7 million); +32.9% QoQ; +85.5% YoY

Second quarter 2026

EV deliveries

70,085; +20% QoQ; +96% YoY

Second quarter 2026

E-scooter and e-bike deliveries

286,039; +100% QoQ; +311% YoY

Second quarter 2026

Vehicle sales

VND28,833.1 billion (US$1,143.9 million); +33.4% QoQ; +92.7% YoY

Second quarter 2026

Previous Earnings Reports

2 past events · Latest: Sep 04

Same Type 2 events

1. Sep 04

   Q2 earnings

   24h Move

   -2.1%

   Reported Q2 revenue and EV-delivery growth alongside a US$812.0 million net loss.

2. Nov 21

   Q3 earnings

   24h Move

   -6.8%

   Reported quarterly revenue and EV-delivery growth and secured two loans from MUFG and Barclays.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ebitda, bev, regulatory sandbox

3 terms

ebitda financial

"strengthen our consolidated EBITDA and cash generation over time"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

View in glossary

bev technical

"among battery EV ("BEV") brands"

Bev is a common shorthand for bevacizumab, a lab-made antibody drug that blocks blood vessel growth to tumors; think of it as cutting off the supply lines a growing city needs. Investors watch news about bev closely because trial results, regulatory decisions, or changes in use can materially affect sales forecasts, drug portfolios and a company’s valuation in the oncology market.

regulatory sandbox regulatory

"working with the relevant authorities on the regulatory sandbox"

A regulatory sandbox is a limited trial space set up by government agencies that oversee industries where companies can test new products, services or business models under relaxed rules and close supervision. For investors it matters because sandboxes can speed a company’s path to market or reveal problems early—like a rehearsal that shows whether an idea can work in the real world without full legal exposure, affecting growth prospects and valuation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SINGAPORE, Oct. 19, 2026 /PRNewswire/ -- VinFast Auto Ltd. ("VinFast" or the "Company") (NASDAQ: VFS), a pure-play electric vehicle ("EV") company with the mission of making EVs accessible to everyone, today announced its unaudited financial results for the second quarter ended June 30, 2026.

EV deliveries were 70,085 in the second quarter of 2026, representing an increase of 20% from first quarter of 2026 and 96% increase from the second quarter of 2025. International markets outside of Vietnam accounted for approximately 11% of total deliveries during the quarter.

E-scooter and e-bike deliveries were 286,039 in the second quarter of 2026, representing a 100% increase from first quarter of 2026 and 311% increase from the second quarter of 2025.

Total revenues were VND30,340.9 billion (US$1,203.7 million) in the second quarter of 2026, representing an increase of 32.9% from the first quarter of 2026 and an increase of 85.5% from the second quarter of 2025. Total revenues were primarily comprised of revenue from EV sales.

Vehicle sales were VND28,833.1 billion (US$1,143.9 million) in the second quarter of 2026, representing an increase of 33.4% from the first quarter of 2026 and an increase of 92.7% from the second quarter of 2025. Revenue growth from the first quarter of 2026 and second quarter of 2025 was driven by an increase in EV sales volumes due to growth in the Vietnam market and contributions from overseas markets such as India, Indonesia and the Philippines.

VinFast is also actively expanding its global retail network. As of June 30, 2026, customers can purchase VinFast EVs from 474 showrooms globally.¹

Mr. Pham Nhat Quan Anh, CEO and Chairman of VinFast, said: "VinFast entered the second half of 2026 with strong momentum across our core markets and continued progress in expanding our global platform. During the quarter, we reached several important milestones, including continued growth across both electric four-wheelers and two-wheelers. We are also broadening the financial and ecosystem foundation supporting our long-term strategy. Looking ahead, our priorities remain focused on scaling up our activities in key international markets, including the Philippines, Indonesia and India, while continuing strategic expansion across markets such as the United States and Europe, expanding our product and technology roadmap, and strengthening after-sales capabilities. We believe these initiatives position VinFast to sustain growth while building a more globally diversified, capital-efficient and resilient electric mobility business."

Ms. Lan Anh Nguyen, Chief Financial Officer of VinFast, added: "Our second-quarter results reflect continued strong revenue growth in our core electric mobility business as we scale vehicle volumes and invest in our next generation of products and technology. At the same time, we have taken deliberate steps to strengthen VinFast's long-term financial profile, including the transition to a more capital-efficient manufacturing model in Vietnam and the addition of a complementary earnings stream. Together, these initiatives are intended to reduce the capital intensity of our operations, strengthen our consolidated EBITDA and cash generation over time, and provide greater financial capacity to support continued investment in our EV business. Electric mobility remains at the center of our strategy, and we believe these actions position VinFast on a stronger foundation as we pursue sustainable growth and a pathway toward profitability."

Recent Business Updates

Product and Technology

The VF Wild REEV is the latest addition to VinFast's product portfolio. Built on VinFast's next-generation large-vehicle platform, it combines an electric drivetrain with extended-range capability, giving customers greater flexibility for longer-distance driving while retaining the core driving characteristics of an EV. The VF Wild is now available in Vietnam, and the Company expects to bring it to international markets next year.

On autonomous driving, VinFast continues to make progress toward its planned pilot of 200 Level 4 robotaxis at Vinhomes Green Paradise in Can Gio in late 2027, subject to obtaining the required regulatory approvals. In parallel with technology development, the Company is working with the relevant authorities on the regulatory sandbox, safety standards, and training protocols required to support the pilot.

Key Markets

In Vietnam, by the end of the second quarter, VinFast has maintained the number-one position for 22 consecutive months since September 2024. As of June 30, its share of the overall Vietnam automotive market was approximately 38%². 

During the quarter, VinFast launched the new generation VF 8 as well as the VF 2, its most compact passenger vehicle. Initial customer response was strong, with each model generating more than 12,700 and 28,700 reservations³ respectively within days of launch. Its two-wheeler business also continued to scale.

Southeast Asia and India continue to be a core growth engine for VinFast. In the second quarter of 2026, VinFast ranked #1 in the Philippines⁴, #5 in India⁵ and #8 in Indonesia⁶ among battery EV ("BEV") brands.

To support its global expansion, VinFast continues to strengthen its financial foundation, enhance its resources and maintain greater capital flexibility to support its business operations and long-term investment plans.

VinFast continues to expand its operations across key markets, including Vietnam, Indonesia, the Philippines, India, the Middle East, North America and Europe, while continually evaluating opportunities in new markets with long-term growth potential. The Company is also expanding its distribution network, with dealer partnerships as the primary channel, while progressively strengthening its global manufacturing and assembly capabilities and continuing to broaden its electric vehicle portfolio.

Conference Call

The Company's management will host its second quarter 2026 earnings conference call at 8:00 AM U.S. Eastern Time on October 19, 2026.

Live Webcast: https://edge.media-server.com/mmc/p/qy7nmbcv

Registration Form: https://register-conf.media-server.com/register/BIe2e54174d1ed4dbf8f1215a46e676919

¹ Includes VinFast-owned and dealer showrooms.
² Based on data from the Vietnam Automobile Manufacturers' Association, TC Group and the Company's internal data (for VinFast only).
³ Reservations are non-binding and cancellable until deposits are placed by the customers.
⁴ According to the Chamber of Automotive Manufacturers of the Philippines (CAMPI).
⁵ Based on Vahan registrations among BEV brands.
⁶ According to the Association of Indonesia Automotive Industries (GAIKINDO).

 

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SOURCE VinFast

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did VinFast revenue grow in the second quarter of 2026?

VinFast's second-quarter 2026 revenue increased 32.9% sequentially and 85.5% year over year to VND30,340.9 billion (US$1,203.7 million). Revenue was primarily from electric vehicle sales.

How many electric vehicles did VinFast deliver in the second quarter of 2026?

VinFast delivered 70,085 electric vehicles in the second quarter of 2026, up 20% from the first quarter and 96% from the second quarter of 2025. International markets outside Vietnam accounted for approximately 11% of total deliveries.

What drove VinFast's second-quarter 2026 revenue growth?

Higher electric vehicle sales volumes drove revenue growth compared with both the first quarter of 2026 and the second quarter of 2025. The volume increase reflected growth in Vietnam and contributions from overseas markets such as India, Indonesia and the Philippines.