VinFast is currently facing challenges in its expansion efforts in Thailand, primarily due to a significant slowdown in the overall automotive market. Here are the key points regarding the situation:

- Dealer Network Delays: VinFast has announced delays in rolling out its dealer network in Thailand, which is attributed to a sharp decline in passenger vehicle sales in the country. The Thai vehicle market saw a 24% drop in sales during the first half of 2024, leading to a revised forecast for the year.

- Market Competition: Despite a 24% increase in battery electric vehicle (BEV) sales, competition has intensified with more Chinese brands entering the market. VinFast is competing against established players like BYD, which has dominated BEV sales in Thailand.

- Initial Plans and Adjustments: VinFast had previously signed agreements with 15 dealers to open 22 showrooms in major cities, including Bangkok and Chiang Mai, focusing on the growing demand for electric vehicles. However, the company is now carefully evaluating the timing of its BEV sales in light of the current market conditions.

- Future Prospects: Despite these setbacks, VinFast's CEO has reiterated that Thailand remains a strategic market for the company. The firm aims to establish a strong presence and is still exploring the potential for building an assembly plant in the future, although no final decision has been made yet.

Recent rumors indicate that VinFast might completely stop its operations in Thailand, but these claims have not been officially verified.

Overall, while VinFast has ambitious plans for the Thai market, the current economic climate and competitive landscape are forcing the company to reassess its strategies.