For the first time ever, sport utility vehicles, or SUVs, cruised past a major sales milestone in Europe in 2023, claiming more than half of all new car sales, according to industry data.
Fueled by consumer demand, SUV sales surged 23 percent in the first half of the year compared to the same period in 2022, reaching 3.37 million units, Automotive News Europe reported. This translated to a commanding 51 percent market share, a significant jump from 48 percent just a year prior.
The popularity of SUVs even outpaced the overall growth of the European auto market, which saw a 17 percent increase during the same period. This trend suggests a sustained appetite for these vehicles, often seen as the heirs to the traditional four-wheel-drive models, with their imposing forms navigating both cityscapes and countryside alike.
Larger and roomier than their sedan counterparts, SUVs are typically built on the same platform but offer increased height and bulk. This formula has proven successful, attracting a growing base of European car buyers.
Recognizing the growing European appetite for SUVs, Vietnamese Nasdaq-listed electric carmaker VinFast, has built a comprehensive portfolio of sport utility vehicles. Spanning the A-SUV to E-SUV segments, VinFast's offerings cater to a wide range of driver needs.
To compete in the European market, VinFast is leading with the VF 8, a C-segment SUV. This strategic introduction will be followed by the launch of the smaller VF 6, a B-segment model. The VF 8 signifies a significant milestone for Vietnam's auto industry, showcasing Vingroup's manufacturing prowess and VinFast's commitment to excellence.
European consumers can expect the VF 8 to be a compelling proposition. The car is designed to impress with its stylish aesthetics, exhilarating electric performance, and a suite of cutting-edge technologies that prioritize safety. VinFast further aims to exceed expectations with a market-leading warranty, ensuring a peace-of-mind ownership experience.
The Manufacturing Capability Behind VinFast's VF 8
Established six years ago on reclaimed land near Cat Hai, VinFast's 335-hectare factory embodies the nation's ambition to become a major player in the electric vehicle space. The VF 8 itself stands as a testament to this ambition, combining Vietnamese manufacturing prowess with global expertise.
VinFast strategically partnered with Pininfarina, the legendary Italian design house responsible for iconic vehicles from Ferrari to Peugeot. This collaboration imbues the VF 8 with a touch of luxury, placing it firmly in competition with established luxury car brands.
The design itself avoids fleeting trends, striking a balance between modern elegance and timeless appeal. VinFast's "Dynamic Balance" design language shapes the VF 8, resulting in a forward-looking aesthetic. The exterior features a harmonious interplay of curves and sharp cuts, creating a visually striking and well-balanced whole.
This design philosophy extends beyond aesthetics, prioritizing stability and functionality. A central balance element ensures all design details work together cohesively, promoting a lower center of gravity for improved handling. This approach offers a range of practical benefits, including minimized noise during operation, potentially extended battery life, and a smoother driving experience.
Furthermore, the VF 8 leverages a modern design language optimized for aerodynamics, reducing energy consumption and enhancing overall efficiency.
The VF 8's interior is designed to match the exterior's elegance. It seamlessly blends high-end aesthetics, meticulous craftsmanship, and modern features, creating a technological yet relaxing space. Heated and cooled seats provide comfort, while a large, high-resolution center screen offers intuitive control for both driver and passengers.
Electricians have praised the VF 8's interior quality, comparable to European standards. High-quality materials, including soft yet firm leather, and excellent finishing touches are evident throughout the cabin.
Spaciousness is another highlight, offering ample legroom and headroom for passengers in all seats. Additionally, a unique Head-up Display (HUD) projected onto the windshield allows drivers to easily monitor key information without taking their eyes off the road.
The VF 8 comes in two variants, the Eco and the Plus, catering to different driving preferences. The Eco offers a powerful electric motor with a maximum output of 260 kW and 500 Nm of torque. The Plus takes performance a step further with a 300 kW motor and an impressive 620 Nm of torque, accelerating from 0 to 100 km/h in a mere 5.5 seconds.
Building Trust in Europe: VinFast's Long-Term Strategy
Furthermore, the VF 8 is equipped with an advanced driving assistance system (ADAS) featuring advanced functionalities like highway driving assistance, automatic lane changing, and smart parking assistance. This system will receive continuous updates and enhancements to provide customers with the safest and most optimal driving experience.
The VF 8's robust safety features have garnered recognition from prestigious safety organizations. Euro NCAP, a rigorous testing program relied upon by manufacturers and drivers alike, awarded the VF 8 a 4-star safety rating, narrowly missing a 5-star designation by a mere 4%.
The VF 8 excelled in child occupant protection during both frontal and side impact tests, with child mannequins demonstrating exceptional protection across critical body areas. This achievement is reflected in the car's outstanding 89% score for child occupant protection in its Euro NCAP debut. This category score ranks among the best tested by the independent assessment program throughout 2023, underlining VinFast's commitment to developing vehicles with top-tier safety standards. As a result, the VF 8 emerges as an ideal choice for families seeking a secure and comfortable driving experience for their children.
The first car model introduced by VinFast on the international stage became the main character at the ASEAN NCAP Grand Prix Awards on the evening of May 28, 2024 in Bangkok (Thailand), when it was consecutively honored with 5 awards. important: "Best Child Protection", "Best Safety Assistance", "Best Motorcyclist Safety", "Best Car" and "Best SUV".
Organized biannually by the Southeast Asia New Car Assessment Program (ASEAN NCAP), these awards recognize excellence in the auto industry. This year, the VF 8's outstanding safety equipment impressed the experts.
Adding to the peace of mind ownership experience, VinFast offers a comprehensive warranty package – 10 years or 200,000 kilometers for the powertrain and 10 years with unlimited mileage for the battery. This commitment to customer satisfaction extends to Europe. Through partnerships with Bosch and Mobivia, VinFast ensures convenient charging access with Bosch's 700,000 charging ports across 30 European countries, and reliable after-sales service through Mobivia's 1,200 service workshops in France and Germany.
To ensure comprehensive support for European drivers, VinFast offers a market-leading warranty, customer-focused technology features, and is actively expanding its after-sales network, demonstrating its long-term commitment to the region./.
Hashtag: #VinFast
The issuer is solely responsible for the content of this announcement.
