VinFast PH highlights RVG Program

MANILA: VinFast Philippines is highlighting its Residual Value Guarantee (RVG) Program, an initiative that will allow eligible electric vehicle (EV) buyers to have a predetermined reference point for their vehicle’s future value. 

“A brand-new car starts losing value the moment it leaves the dealership. How quickly that happens is harder to predict, and it can weigh on a buyer’s mind when the time comes to choose between a familiar name and a newer one. The big question then is simple: what will a vehicle be worth when it is time to let it go?” VinFast Philippines wrote in a press release.  

“That question can be harder to answer for electric vehicles, particularly the newer brands with limited local resale history. For Filipino buyers considering an EV, the doubt around future value can become part of the decision long before they ever put the car up for sale,” it noted. 

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VinFast RVG Program 

VinFast Philippines’ RVG Program (launched earlier this year) works by establishing a predetermined value for an EV based on a fixed schedule.  

According to the local wing of the Vietnamese car manufacturer, eligible VinFast vehicles—under the program—are guaranteed up to 90 percent of their net retail price after six months.   

Then, the prices understandably drop by 86 percent after one year, 78 percent after two years, and 70 percent after three years, subject to the program’s conditions.  

Using the VinFast VF 5 as an example, the car costs P1.099 million and—under the program’s 70 percent three-year guarantee—would set its resale value at P769,300 after three years, provided the vehicle meets eligibility requirements. 

VinFast Philippines’ RVG Program isn’t for everyone, though. Per the company’s literature, customers who buy EVs for service operations (like ride-hailing vehicles or other transport businesses) are not allowed to sign up for the program. 

Further, there is a mileage limit. Vehicles must not exceed 25,000 kilometers (km) per year or 75,000 km in the full three-year period.  

“The distinction is important: an RVG does not mean the vehicle will not depreciate. Rather, it gives the buyer a predetermined reference point and provides a path for VinFast to take on part of the resale-value risk,” VinFast Philippines said. 

“With VinFast’s RVG, a qualifying owner has another option: instead of finding a buyer through the open market, they can go through the program’s buyback mechanism, with VinFast purchasing the vehicle at the guaranteed value applicable under the program, subject to its terms and conditions,” it added. 

VinFast PH looks into EV resale value concerns 

VinFast Philippines has looked into the growing concern of EV resale value, citing a study conducted last year, which reveals that 48 percent of the Filipino respondents agreed or strongly agreed that EVs have a lower resale value than conventional fuel-powered vehicles. 

The same study showed that 44 percent indicated uncertainty about EV resale value. 

In 2023, another study found that 19 percent of Philippine respondents cited uncertain resale value as a concern regarding battery EVs. 

As such, VinFast Philippines believes that a newer EV brand has less history to lean on. And because the Philippine used-car market is ultimately shaped by what buyers and sellers are willing to accept, there is no guaranteed answer to what a vehicle will be worth several years after purchase. Hence, the RVG Program. 

“An EV’s future value relies on an ongoing cycle of trust: accessible parts, practical daily use, and a thriving second-hand market. This explains why established legacy brands command premium used-car prices—widespread familiarity breeds buyer confidence, which inherently fuels an active resale market for the next generation of EV adopters,” the company stated. 

“VinFast tackles this challenge from two fronts: the brand’s RVG program establishes a predetermined reference value financial floor for the future, while an expanding charging and aftersales ecosystem makes daily ownership practical in Philippine realities,” it concluded. 

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