Vinfast (VFS) 2Q deliveries jump fivefold

September 18, 2023 8:43 AM EDT

Vietnamese electric vehicle manufacturer VinFast Auto (NASDAQ: VFS) announced on Monday that it experienced a substantial increase in deliveries during the second quarter, with 9,535 vehicles delivered, marking a more than fivefold surge compared to the first quarter. For the first half of this year, the company reported a total of 11,315 deliveries.

Vinfast made a highly anticipated debut on Wall Street in August, resulting in its shares more than tripling in value. However, due to the limited availability of publicly traded shares, the company's stock has exhibited significant volatility. Since its debut, Vinfast's shares have seen a decline of approximately 53%, and in premarket trading on Monday, they experienced a further drop of 2.17% to reach $17.15.

Vinfast has scheduled the release of its 2Q results for September 21st.

Shares of VFS are down 2.17% in pre-market trading Monday.

By Michael Elkins | [email protected]

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