VinFast Edges Out Tesla in Festival Season EV Sales

The festival months of September and October saw a close contest between two new global electric vehicle (EV) brands in India, VinFast and Tesla. According to data from the Federation of Automobile Dealers Associations (FADA), VinFast sold 137 cars, while Tesla sold 109 during this period.

Monthly Retail Data

Tesla recorded 69 units in September and 40 in October, while VinFast sold 6 cars in September and 131 in October. Both companies are new to the Indian market and are still setting up their operations and networks across the country.

VinFast’s India Expansion

VinFast has been expanding its retail footprint faster. It recently opened its 24th dealership in Gurugram and aims to have 35 dealerships across India by the end of 2025. The company also inaugurated its assembly plant in Thoothukudi, Tamil Nadu, which has a capacity to assemble 50,000 units a year, with plans to scale up production in the coming years.

Tesla’s Current Setup

Tesla has two showrooms, one each in Mumbai and Delhi, and has reportedly received around 600 bookings so far. As per the reports, its rollout has been slower compared to VinFast, and it currently imports vehicles as fully built units, leading to higher prices.

Pricing and Models

VinFast offers two models in India the VF6, starting at ₹16.4 lakh, and the VF7, starting at ₹20 lakh. Tesla’s Model Y, imported as a completely built unit, starts at ₹60.99 lakh (on-road). The Model Y is priced at about ₹35.3 lakh in the US and ₹32 lakh in China, showing the cost difference due to import duties.

Competition from BYD

Chinese automaker BYD sold 1,117 vehicles during September and October and 3,506 units between April and October. The BYD Atto 3 starts at ₹25 lakh, and its higher-end Sealion 7 costs around ₹48 lakh.

Read more: Tesla Shareholders Greenlight $1 Trillion Pay Package for Elon Musk

Conclusion

Together, BYD, VinFast, and Tesla accounted for around 4% of India’s EV sales in October. EVs made up 3-4% of total passenger vehicle sales during April-October, with over 90,000 electric cars sold in this period. India targets 30% EV adoption by 2030.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.