Vietnamese car manufacturer VinFast is very keen to make an impression on the U.S. market and is already offering a lease incentive for the electric VF8 SUV.
It’s been revealed that the 2023 VinFast VF8 City Edition is currently available with a $3,000 lease cash incentive. The Eco and Plus trims are eligible but importantly, the incentive is only available in California and for those that want to lease a VF8 rather than buy one.
Read: VinFast Details VF 8 City Edition, Offers Up To 402 HP
Taking the incentive into account, the VF8 Eco is available to lease at $599 per month for 24 months with $5,774 due at signing while the VF8 Plus can be leased for $699 per month for 24 months with $6,789 at signing. Cars Direct notes that this works out at an effective lease cost of $840 per month before taxes and fees for the VF8 Eco, making it slightly cheaper to lease than a Tesla Model Y Long Range starting at $634 per month with $5,829 due at signing.
While the incentive means the VF8 is now cheaper to lease than the Model 3, it remains more expensive to buy, starting at $56,700 for the City Edition Eco compared to the $54,880 starting price of a Tesla Model Y Long Range. As such, it’s hard to imagine all that many EV shoppers opting for the VinFast over the Tesla.
Powering the VF8 City Edition Eco is an 82 kWh battery pack that drives a pair of electric motors delivering 349 hp and 369 lb-ft (500 Nm) of torque. While that sounds quite promising, what’s not so impressive is the SUV’s claimed range of 179 miles (288 km) on a single charge. That’s significantly less than the 330-mile (531 km) range of the Tesla Model Y Long Range and comes despite the fact that the VinFast has a larger battery pack.