What's Going On With VinFast Auto Stock Wednesday?

VinFast Auto Ltd. VFS shares are trading relatively flat in premarket trading on Wednesday after a +12% gain the previous day.

The company reported delivering 21,912 electric vehicles (EVs) in the third quarter of 2024, marking a remarkable 66% increase from the previous quarter and a 116% rise year-over-year.

September was particularly strong, with over 9,300 EVs delivered in Vietnam, setting a record for the highest monthly deliveries in the domestic market. This achievement highlights VinFast’s growth and signifies a milestone for the Vietnamese automotive industry, as it becomes the first local EV brand to outperform international competitors and take the lead in the market.

Also Read: VinFast Hits Roadblock: Fails To Meet Q2 Earnings And Sales Expectations, Cautions On Challenging Macro EV Outlook

VinFast said its initiative, “Fierce Vietnamese Spirit – For a Green Future,” has received widespread backing from individuals and businesses in Vietnam due to its strong focus on social responsibility.

In addition to helping reduce urban pollution, the program encourages Vietnamese companies to unite and contribute positively to society.

VinFast also announced that it will release its third-quarter financial results on November 26, prior to the market opening.

The analyst consensus estimate for the quarterly earnings per share is pegged at a loss of 27 cents. The street view for third-quarter sales stands at $540.58 million.

On that day, management will host a live webcast to discuss the company’s performance and future strategy.

Price Action: VFS shares are trading higher by 0.47% to $4.250 premarket at last check Wednesday.

Image via Shutterstock

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