Buying a new EV from a rising brand might feel like you’re taking a confident step into the future. However, if you’re considering a VinFast vehicle in South Carolina or if you’ve already bought one, you may want to take a closer look at what’s happening behind the scenes. The Vietnamese EV automaker has started closing stores in Canada, halted plans for a U.S. manufacturing plant in North Carolina, and continues to struggle with recalls and financial instability. If you purchased your vehicle here in South Carolina, these developments could matter more than you think.
A Company Scaling Back and What That Means for You
VinFast launched with some very big promises when it came to their direct-to-consumer model. In just a few years, it opened 10 stores across Canada, began selling in the U.S., and announced a $4 billion plant in North Carolina. Now, half of those Canadian stores are closing, and the U.S. factory has been put on hold. According to the company’s own financial reports, VinFast lost nearly $600 million just in the first quarter of 2023. That’s on top of $2.1 billion in losses the year before.
As of now, there’s a Charlotte-area VinFast location in Fort Mill, SC, but if the trend continues, there’s a possibility that local support could shrink or disappear. That matters if your vehicle develops defects, and you may struggle to get service or parts quickly.
As of now, there’s a Charlotte-area VinFast location in Fort Mill, SC, but if the trend continues, there’s a possibility that local support could shrink or disappear. That matters if your vehicle develops defects, and you may struggle to get service or parts quickly.
Recalls and Risk: The VF8’s Early Warning Signs
VinFast’s debut in the U.S. market came with serious safety concerns. In May 2023, the National Highway Traffic Safety Administration issued a recall for all 999 VinFast VF8s. The issue involved a software glitch that could cause the dashboard display to go blank while driving. For an EV, where critical information is shown digitally, that’s extremely dangerous.
When you combine a serious safety recall with financial instability and shrinking infrastructure, it raises real concerns about long-term support for your vehicle. If parts become harder to get or the service network thins out, your ownership experience may not be what you were promised.
When you combine a serious safety recall with financial instability and shrinking infrastructure, it raises real concerns about long-term support for your vehicle. If parts become harder to get or the service network thins out, your ownership experience may not be what you were promised.
SC Lemon Law Protections Depend on Where You Buy
South Carolina’s Lemon Law only protects vehicles that are both purchased and registered here. If you buy a VinFast across state lines, those protections will not apply, so you should take that into consideration if the current store closes and you go out of state to purchase your vehicle. Also, if VinFast does end up closing its South Carolina presence, support for your warranty could get a lot more complicated.
You deserve a vehicle that performs as expected, and, when things go wrong, you should be able to rely on service and repairs promised by the manufacturer. If your new VinFast is already showing signs of trouble, or you’re unsure whether your purchase qualifies under Lemon Law, it’s worth getting legal clarity from Steven Moskos. We can help you understand whether it qualifies under the state Lemon Law. Contact us today to discuss your situation and find out what next steps are available.
You deserve a vehicle that performs as expected, and, when things go wrong, you should be able to rely on service and repairs promised by the manufacturer. If your new VinFast is already showing signs of trouble, or you’re unsure whether your purchase qualifies under Lemon Law, it’s worth getting legal clarity from Steven Moskos. We can help you understand whether it qualifies under the state Lemon Law. Contact us today to discuss your situation and find out what next steps are available.
RSS Feed