On the morning of June 21st, Ocean Marketing USA, a member of SBDN, participated in marketing at DiversityCON 2023 held at Irvine Valley College.
This is a business networking event organized by the non-profit organization, The Small Business Diversity Network (SBDN).
Ocean Marketing USA and several member businesses of SBDN had the opportunity to learn and talk with VinFast representatives regarding the brand's US market accessing process.
There is a reality that VinFast is facing significant competition in conquering the most demanding market in the world. It will take a long time to meet strict requirements of
product quality, consumer’s belief, and market accessing method through effective marketing and promotions.
It’s quite significant that in mid-May, VinFast and Black Spade (USA) officially announced a business merger agreement. The merged company will have an enterprise value of around 27 billion USD.
After 4 months since the official delivery of VinFast VF8, electric models to users in the US, the company has sold 17 units, a relatively low figure compared to its competitors.
According to data from Experian (Automotive News), the total number of registered Battery Electric Vehicles (BEV) in the US in Q1/2023 reached 257,507 units. Among them, Tesla continues to lead the market with record sales, capturing 60% of the market share.
Tesla - 155,360 units (60% market share)
Chevrolet - 19,947 units (7.7% market share)
Ford - 13,362 units (5.2% market share)
Volkswagen - 10,053 units (3.9% market share)
Hyundai - 8,064 units (3.1% market share)
Mercedes-Benz - 7,168 units (2.8% market share)
Rivian - 7,134 units
BMW - 7,107 units
Kia - 6,046 units
Audi - 4,494 units
Nissan - 4,365 units
Volvo - 2,763 units
Polestar - 2,630 units
Lucid - 1,739 units
Toyota - 1,570 units
Subaru - 1,399 units
Cadillac - 945 units
Genesis - 786 units
Lexus – 338 units
GMC – 17 units
VinFast – 17 units
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