VinFast Auto Ltd. ( VFS ) shares are slightly lower on Thursday following the company’s announcement of strong fourth-quarter 2024 vehicle deliveries.

In an exchange filing, VinFast said it delivered 53,139 electric vehicles globally in the fourth quarter, marking a 143% quarter-over-quarter increase and a 342% year-over-year rise.

This performance helped the company achieve a record 97,399 EVs delivered globally for the full year 2024, exceeding its revised guidance of 80,000 vehicles, and representing a 192% year-over-year increase.

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Driven by strong demand for affordable models and domestic market in Vietnam, VinFast achieved new delivery records for three consecutive months during the quarter under review.

Building on this momentum, the company is targeting to at least double its global deliveries in 2025.

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In January 2025, VinFast’s domestic deliveries reached over 10,000, including more than 4,000 VF 3s and 3,300 VF 5s.

Additionally, the company delivered 31,170 e-scooters and e-bikes in the fourth quarter, a 65% increase from the previous quarter.

For the full year 2024, e-scooter and e-bike deliveries totaled 70,977, a 1% increase year-over-year.

VinFast said it plans to release its fourth quarter and full-year 2024 financial results on April 24.

Price Action: VFS shares are trading lower by 0.807% to $3.72 at last check Thursday. 

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