VinFast has just implemented a covert pricing increase for auto and battery subscriptions in North America.
Earlier this year, VinFast revealed North American pricing for its first two EVs, the VF8 and the VF9. Both cars are scheduled for release by the end of 2022 and the beginning of 2023, respectively. In Canada, the VF9 now costs more than $100,000 thanks to the Vietnamese automaker’s stealthy price hikes for its electric vehicles and battery subscription service.
VinFast blames higher prices for raw materials for the price hike, but customers with confirmed reservations as of September 1 will still pay the old rate.
What Are The Changes?
The VinFast website states that the Canadian pricing of the VF8 has increased from $51,250 to $54,990 (a rise of $3,740). Both of these costs do not include the battery, which has its own subscription plan. In the following, you may read about the pricing adjustments that have been made to the battery membership.
VinFast claims that its pricing model, which includes a separate cost for the battery in addition to the cost of the car, would help mitigate the first “sticker shock” felt by potential EV buyers. However, for an additional $10,000 (Canadian $64,990 plus base price), VinFast now offers a “battery included” option when purchasing the vehicle.
The bigger VF9 electric SUV had a far steeper price hike. The original Canadian pricing of $69,750 has been raised to $79,990, an increase of nearly $10,000. The gain is more than the one seen in the United States, where the average increase is just about $2,000. When you include in the cost of the battery, you’re looking at a whopping $103,790.
Changes to their Monthly Plans
As opposed to the old plan, the new one offers two options: a cheaper Flexible battery subscription plan (as low as $39 a month) with a monthly mileage restriction, and a more costly Fixed plan with unlimited miles.
With the elimination of the Flexible plan, VinFast has also significantly raised the price of the Fixed plan. Both the VF8 Fixed Plan (formerly $139) and the VF9 Fixed Plan (previously $199) have increased in price in Canada, with the former now costing $249 and the latter now $349, respectively.
It is unknown whether or not those who already have reservations will be allowed to keep paying the old rates because none of these price increases have been publicised. VinFast’s website contains a notation saying rates are subject to change, and their reservation agreement notes the deposit “does not lock in pricing,” so it seems doubtful that this would happen.
What do you think of these changes? Would you still consider a VinFast at this price range?