Vietnamese electric-vehicle maker VinFast, which made a splash this week when its shares debuted on the Nasdaq, has stirred a mix of caution and interest among dealers with a recent change in how it will distribute its cars in the U.S. market.
at the time. Since then, VinFast shares have retreated, and were down 17.2% at $24.92 at midday on Thursday.
"Opening our own stores is great but it takes a lot of time," CEO Le Thi Thu Thuy told Reuters on Tuesday. "Joining forces with other partners to go faster has always been our nature." U.S. dealers said there are too many unanswered questions, including how VinFast will distribute parts needed to make repairs."The dealer has to be concerned with their reputation," said Scott Fink, CEO of Fink Automotive Group, which owns VW and Subaru stores near Tampa, Florida. "If I sell a car to you and you can't get a fender, you're going to be pissed off at me. I'm not going to do that.
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