VinFast recently announced its financial results for the first quarter of 2026, sharing that it has experienced significant year-on-year (YOY) growth across its portfolio. In terms of total revenue, VinFast posted earnings summing up to $920.7 million (around P56.8 billion), which represents an increase of almost 42% compared to Q1 2025.
Outside of its home country Vietnam, where it enjoys a healthy lead in the automotive market, the Philippines is a key market for VinFast. The company ranked as the number one BEV brand in the Philippines in Q1; VinFast also sits in the upper ranks of BEV charts in other key markets such as India (ranked fourth) and Indonesia (ranked eighth).
Going into detail on each of VinFast’s businesses, the automaker shares that it delivered 58,577 BEVs in total during Q1 2026—an increase of 61% compared to Q1 2025. The company specifies that 92% of that volume is units shifted inside Vietnam, with the remaining 8% being sales in international markets.
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VinFast’s e-scooter and e-bike sales, however, saw a big boom at 219% YOY growth. This translates to 143,136 deliveries of the brand’s two-wheelers. This has given VinFast the leading position in the electric motorcycle segment in Vietnam, as well as 17% of the overall motorcycle market encompassing all categories (electric and combustion models).
In the Philippines, VinFast has attracted attention to itself through affordable offerings in popular segments, such as the VF3 subcompact hatchback and the MPV 7 people-mover. These options are further subsidized by aggressive promos and programs such as the battery subscription option which takes away a chunk of initial cost in return for a recurring cost that covers the battery.
It is also expected that the company will launch its e-scooter and e-bike models (as well as its battery-swapping infrastructure) in the country sometime in the near future as part of VinFast’s expansion plans for the Philippines in 2026.
