VinFast PH will have a resale value guarantee program
VinFast Philippines can buy back used VF models in bid to strengthen EV confidence
When any automaker enters the Philippine market, they like to focus on the conventional aspects of automobile design, comfort, fuel efficiency, EV range, luxury, water wading, technology, and so on and so forth. That's only natural, as these are the factors they can engineer into every vehicle.
There is, however, one question that every automaker -particularly new OEMs- in the market is afraid of. What is the resale value of your car?
That is the one question that many generally don't have an answer to, as resale value is a difficult one to compute, and often all the so-called "values" you see in the classifieds are asking prices. As to whether the vehicle sells for that price is another matter, but still, there is one answer because a new brand wouldn't have an idea. And it's even more difficult for an EV company.
VinFast Philippines -itself a new player in the country- will have an answer, and it will be called RVG or Residual Value Guarantee. This comes directly from new VinFast Philippines CEO Antonio "Toti" Zara, who told us that the Vietnamese automaker or original equipment manufacturer (OEM) will be launching the RVG program that quite literally gives a customer a guaranteed resale price for their VinFast vehicle. They will do this by having a kind of buyback program if a VinFast customer wants to let go of his or her VinFast vehicle. Yes, it will be VinFast Philippines that will purchase the used vehicle from them.
And the rates will definitely be better than any sale to another end user. While he hasn't given full details on the project, Zara said that a 6-month old VinFast EV will be bought back for up to 90% of the price that the customer paid for it. As you may know, any vehicle that departs a dealership with a new customer will lose much more than that in terms of residual value.
That is the guarantee that VinFast Philippines will stand behind, and there will be other rates depending on the age and condition, of course. So what will VinFast Philippines do with these somewhat slightly used vehicles? Well, they will put them to work with VinGroup's Green GSM taxi service. That is what makes VinFast unique, as they will be focusing on positioning the brand to really maximize the potential of being a true mobility company. Zara says this program will be launched soon and hopes it will elevate the consumer confidence in the brand.
