VinFast Q1 sales rise 40%, loss per share widens to $0.48
VinFast Auto Ltd. reported a 40.23% increase in Q1 revenue to $920.686 million, driven by a 61% rise in EV deliveries, though sales missed analyst targets. The net loss per share widened to $(0.48), significantly missing the consensus estimate of $(0.31). Operational highlights include a 219% surge in e-scooter deliveries and continued expansion of its global retail network.
*this image is generated using AI for illustrative purposes only.
VinFast Auto Ltd. reported unaudited financial results for the first quarter ended March 31, 2026, with revenues rising 40.23% to $920.686 million. Despite the revenue growth, the company reported a net loss per share of $(0.48), which missed the analyst consensus estimate of $(0.31) by 54.84%. This represents a 60% deterioration in loss per share compared to $(0.30) in the same period last year. The revenue figure also missed the analyst consensus estimate of $1.025 billion by 10.19%.
The revenue growth was driven by strong electric vehicle sales volumes in Vietnam and contributions from overseas markets such as India, Indonesia, and the Philippines. The company delivered 58,577 electric vehicles during the quarter, representing an increase of 61% from the same period last year. Electric vehicle deliveries in Vietnam increased by 53% year over year. VinFast maintained its position as the number one original equipment manufacturer (OEM) in the domestic automotive market since September 2024.
Operational Performance
International markets accounted for approximately 8% of total deliveries during the quarter. In Southeast Asia and India, VinFast ranked as the number one battery electric vehicle (BEV) brand in the Philippines, fourth in India, and eighth in Indonesia by the end of the first quarter of 2026. The company also delivered 143,136 units of e-scooters and e-bikes in the first quarter, representing an increase of 219% from the first quarter of 2025.
In March alone, VinFast received more than 135,000 e-scooter orders and shipped over 93,000 e-scooters to dealers in Vietnam. The company holds the leading position in Vietnam's electric motorcycle market and expanded its share of the overall motorcycle market to 17% in March.
Financial Highlights
| Metric | Q1 2026 | Change |
|---|---|---|
| Revenue | $920.686 million | +40.23% |
| EV Deliveries | 58,577 units | +61% |
| E-scooter and E-bike Deliveries | 143,136 units | +219% |
Strategic Developments
VinFast continued to expand its retail and after-sales network, reaching 447 showrooms globally by the end of Q1 2026. The company signed new memoranda of understanding with 29 after-sales partners to establish EV service workshops and aims to expand to more than 1,100 service workshops globally in 2026. In autonomous vehicle technology, VinFast, NVIDIA, and Autobrains announced a strategic collaboration for a next-generation level 4 program for Southeast Asia built on NVIDIA DRIVE Hyperion.
Mr. Pham Nhat Quan Anh, Chairman of VinFast, stated that the company has entered a new phase focused on disciplined execution and long-term sustainability. Ms. Lan Anh Nguyen, Chief Financial Officer of VinFast, added that priorities remain centered on disciplined financial management and operational excellence. The company plans to grow its presence through dealership partnerships and strengthen its manufacturing and assembly capabilities across international markets.
What specific measures will VinFast implement to bridge the gap between rising revenues and the widening net loss per share?
How does the company plan to increase the international market share beyond the current 8% of total deliveries?
What is the expected timeline for the Level 4 autonomous vehicle program in Southeast Asia to move from development to commercial deployment?
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