Targeting the low-cost segment under 20,000 USD, will VinFast VF 3 make a difference?
According to Carscoops, the growing inflation rate, the increasing price of new cars, and the supply of affordable cars is also shrinking, meaning that owning a car is affordable for most people. The number of Americans gradually became distant. Since 2020, new and used car prices have both grown significantly. For vehicles rolling off the assembly line, the average retail price is now 30% higher than before the pandemic. For used cars, the average price is now up 38% compared to pre-pandemic times. Fortunately, in 2023, growth slowed and prices were only 1% higher than a year earlier. However, the average price of a new car today is $50,364, while the average price of a used car is $31,030. “Simply put, cars have become more expensive,” said Joseph Yoon, consumer taste analyst at Edmunds. In November 2019, the average transaction price for a new vehicle was $38,500. In November 2023, that number increased to $47,939.” Both new and used car purchases are expensive for drivers. According to a previous study by Market Watch, Americans need a total household income of at least $100,000 to buy a new car if they follow general budgeting principles and practices. While there is no…