Saturday , December 5 2020

What opportunities for VinFast in Vietnam?



VinFast creates a good wave of publicity for product and brand information to reach customers quickly. There are many supporters in the media, but there are doubts about the market approach of the two new models. Buying a car instead of a traditional motorcycle will make many people think of it.

"Based on product capabilities, what Klara has is no superior to traditional motorbikes," said an eternal motorcycle dealer.

Challenge

Klara runs a $ 34 million lead-acid (wet battery) battery and runs a $ 57 million lithium-ion battery (dry battery). For the price of 34 million, Vietnam can choose the station as Honda Vision (the best-selling car now), Yamaha Acruzo. Meanwhile, level 57 million is a place to play high-end models such as Honda SH mode, Piaggio Liberty.

Mr. Bui Minh Tuan, owner of a network of traditional motorcycle dealers and electric cars, expressed his doubts about the high price of VinFast. "The price is very high, it's not feasible, mostly in the context of Vietnamese people still used for gasoline," Mr. shared.

He analyzed, if it was intended for female customers, the mass of the car was around 100 kg of heavy-duty gasoline vehicles. Maximum capacity of 21 liters, the same as traditional cars.

The Klara lithium-ion battery at the VinFast plant in Hai Phong, costs 57 million.

The Klara lithium-ion battery at the VinFast plant in Hai Phong, costs 57 million.

At the same point, Mr. Hoang Ha, former director of marketing, sales of Yamaha Vietnam said that the price of more than 30 million is not feasible because guests have many choices of motorbikes.

According to Mr. Ha, the price of motorcycles in Vietnam is divided into 4 segments. From 18-22 million are popular cars, 27-32 million are popular cars, 37-42 million are fashionable cars and 50 million or more are luxury cars. The original price is 34 million and 57 million VinFast targets the high-end segment of traditional trains. However, this market has many large products such as Honda, Yamaha, Piaggio.

"Two VinFast electric cars are almost identical, different in batteries and engines, but the difference of up to VND 23 million is quite high," said Mr Ha. The price of the first batch is 21 million for wet batteries and 35 million dry batteries.

Not only competition from traditional motorcycles, Klara also had to fight with cheap electric cars that were flooded. Vietnamese car brands are not leading in assembling electric motorbikes, but positioning products beyond what is sold on the market, which is dominated by Chinese cars.

Nguyen Son, who sold electric cars in Hanoi for years, said that the most sold cars were Chinese brands worth 10-15 million. The advantage of this model is the small design, the design is intended for young customers, but the quality is not high. Equipment such as frames, the quality of the suspension system (even vehicles without rear shock absorbers), plastic, paint is not beautiful. However, because the cheap price must sell well.

Some investment vehicles for electric vehicles such as SYM, Pega (formerly HK Bike). Pega rummaged through smart electric vehicles, using Bosch technology and engines. But the project was "forgotten" in less than a year.

Nguyen Son was more afraid that after 5-7 years the electric car blossomed, now the sales segment gradually backed down when prices did not overwhelm losses. It did not reveal the sales figures but he proved with the chain store, after only a year had to close more than half.

Industry monitoring experts, the level of VinFast finishing products is quite good, even higher than traditional motorbikes. Therefore, car prices are almost no lower. But with an electric car, not every item will be sold.

Japanese electric car Terra A4000i was launched in Hanoi in 2014. High prices make this car not gain market share.

Japanese electric car Terra A4000i was launched in Hanoi in 2014. High prices make this car not gain market share.

In 2014, the Vietnam market welcomed the upscale Terra A4000i Japanese tram, which cost 90 million, equivalent to Honda SH. Terra uses 40 Ah lithium-ion batteries, 4,000 W. motorcycles, however, high prices make this car absent from the market.

Being a "wet leg" on the market, the difficulty for the VinFast electric motor is present but the Vietnamese car company has other facilities to trust potential sales.

The advantages

According to Hoang Ha, if VinFast has a good price product plus ecological support for electric vehicles, the chances of success will be high. In the case of high prices, customers can only be good producers.

In the development plan, the VinFast eco-car system will include battery charging and station charging, an official dealer system and cloud computing and a mobile application support system.

By 2020, VinFast will have between 30,000 and 50,000 battery charging stations throughout the country. Vietnamese car brands will utilize a variety of utility products available to make filling stations available to customers immediately after the first batch of sales and deploy other support systems.

There is no operator that provides charging stations and battery rentals. So, if VinFast's calculations on infrastructure and after-sales services meet demand, competitiveness in the market is quite satisfying, especially when there are new products in 2019.

Other specialists in this industry, with an initial price of 21 million and 35 million for two versions, are not difficult for Vietnamese people to reach, especially those who have used many products in the ecosystem. from Vingroup. The story is more difficult when the company returns $ 34 million and $ 57 million, customers will shrink.

"Then, maybe the car will come out a new model and that is the car responsible for sales," he analyzed.

This might be similar to the car segment, because many commented that the two SUVs and the first sedan played a marketing role, including the brand, the next small car A was "a car for sale"

According to the National Traffic Safety Committee in 2016, Vietnam consumed around 2.5 million motorbikes, while every year it sold 250,000-300,000 electric vehicles. This number is equivalent to the initial production phase of VinFast.

Vietnamese car companies are ready to meet the large number on the market, the remaining experts immediately complete the infrastructure filling stations, battery replacement and prices.

Mr. Ngoc


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