CLOSURE: Car company shutting half of its stores in Canada

An electric vehicle company is closing half of its stores in Canada.

VinFast confirmed to INsauga.com it will be shuttering five of its 10 stores.

“VinFast Canada is announcing the closure of our three boutique mall locations and two showrooms in outlying areas as part of a broader strategy to refocus resources and enhance long-term performance in the evolving Canadian automotive retail landscape,” the Vietnamese company said in a statement.

There will still be five stores open in British Columbia, Ontario and Quebec.

A VinFast showroom located on Ambler Drive in Mississauga, near Dixie Road and Highway 401, is one of the locations that will remain open.

VinFast first opened a store in Canada in December 2022 at Yorkdale Mall in Toronto.

“VinFast is committed to offering high-quality electric vehicles and outstanding customer service to all Canadians and this is why it is critical that we continue to adapt and evolve our business to ensure we are best positioned for future growth,” the statement said.

“Later this year, VinFast will announce an authorized after sales network expansion, while continuing to assess new business opportunities, including the potential future introduction of franchise dealers in Canada, though no decisions regarding franchising have been taken at this time.”

It’s not clear when exactly the closures will occur or how many jobs may be lost.