Indian media highlights VinFast’s surge, attributing its success to localized strategies and competitive pricing in India, while Tesla lags in one of the world’s fastest-growing EV markets.
VinFast Outpaces Tesla in Sales, Securing a Stronger Market Entry
India’s electric vehicle (EV) market is entering a growth phase, with the rivalry between international newcomers VinFast and Tesla taking center stage during this festive season.
According to Business Standard, VinFast’s sales soared to 131 units in October, while Tesla’s sales dropped to 40 units. “The festive season has seen a tight competition between the two international newcomers, Tesla and VinFast, with VinFast gaining the upper hand,” the publication noted. Data from Vahan, India’s automotive platform, further reveals that VinFast has registered 204 vehicles this year, surpassing Tesla’s 118.
This surge propelled the Vietnamese automaker into the top 8 EV brands by sales in India for October, as reported by ABP Live.
(Image Source: Economic Times)
In an article titled “Tesla Struggles as Practical Buyers Favor VinFast,” Economic Times highlights that both brands entered the market as it transitioned to its next growth phase but at “vastly different levels.”
“Data indicates that Vietnam’s VinFast, despite being a newcomer, is navigating India’s landscape more smoothly than its established American rival, which is moving slower in one of the world’s fastest-growing EV markets,” Economic Times observed.
Localized Strategy Emerges as a Key Differentiator
Observers attribute the difference to contrasting approaches. VinFast prioritized early localization with plans for a Tamil Nadu factory, focusing on mid-range models tailored to Indian consumers’ budgets. Following its impressive market debut in September, the brand launched two mid-segment SUVs, VF 6 and VF 7. Simultaneously, VinFast expanded its network to 24 showrooms in major cities, aiming for 35 by year-end.
VinFast VF 6 at its India launch event
ABP Live echoed this sentiment: “Aggressive pricing and a focus on local markets have given VinFast a competitive edge, fueling its momentum in the expanding EV sector.”
In contrast, despite its global EV leadership, Tesla’s entry has been sluggish, offering only the premium imported Model Y, per Economic Times. The brand maintains a presence in cities like Mumbai and Delhi but relies heavily on private imports. Notably, Tesla has yet to commit to local production. “Tesla aims only to open showrooms and sell imported vehicles,” stated India’s Heavy Industries Minister Kumaraswamy earlier this year.
Economic Times concludes that VinFast has secured an early advantage with its clear localization strategy, while Tesla’s progress stalls, its reputation yet to translate into robust sales.
Although EVs currently account for just 3-4% of India’s total auto sales, experts view this as an early stage. With players like VinFast, India’s EV market is poised for rapid expansion in the coming years.
TH (Tuoitrethudo)
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