As December approaches, many car manufacturers in Vietnam are launching aggressive promotions to stimulate demand in the run-up to Tet (Lunar New Year).
Hyundai Thanh Cong Vietnam (HTV) is launching an attractive promotional program offering up to 100% discount on registration fees for Hyundai vehicles from now until the end of June 2025.
According to Decree No. 51/2025/ND-CP, the 100% exemption from registration fees for electric vehicles has been extended for another two years, until February 28, 2027.
The Ministry of Finance has officially proposed extending the policy of exempting registration fees for electric cars until February 28, 2027, instead of March 1, 2025.
Following the end of the policy reducing registration fees for domestically manufactured and assembled cars, demand for these models decreased significantly in December.
Immediately after the policy of a 50% reduction in registration fees expired, many dealerships announced further price reductions equivalent to 50% of the registration fee to attract car buyers.
Domestically assembled and manufactured cars, as well as trailers or semi-trailers, will receive a 50% reduction in registration fees for three months, starting from September 1st.
In their comments on the draft regulations on vehicle registration fees for domestically produced and assembled cars, many ministries and agencies expressed concerns that a 50% reduction would violate international commitments.
Toyota Vietnam and its dealer network are offering many incentives when buying cars in July, the highest of which is a 50% discount on registration fees.
Many argue that the proposal to reduce vehicle registration fees benefits the wealthy, while imposing VAT on fertilizers burdens farmers, who are generally poor.
The Ministry of Finance has proposed a 50% reduction in registration fees for domestically manufactured and assembled automobiles for six months, from August 1, 2024 to January 31, 2025.
According to a new government decree, from July 1st, the vehicle registration fee for domestically manufactured and assembled cars registered for the first time will be reduced to 50% of the previous rate.
On June 28, the Government issued a Decree stipulating the rate of registration fee for automobiles, trailers or semi-trailers towed by automobiles... manufactured or assembled domestically.
The Ministry of Finance has proposed not yet reducing the vehicle registration fee by 50% for domestically produced and assembled cars, but has also added a plan to reduce the registration fee for the Prime Minister to decide upon.
According to the Ministry of Finance, now that COVID-19 is under control, continuing to reduce the vehicle registration fee for domestically produced and assembled cars is inappropriate.
To attract customers, many car models are being offered with discounts ranging from 50% to 100% on registration fees by manufacturers and distributors.
The government has assigned the Ministry of Finance and the Ministry of Industry and Trade to study incentives for registration fees and extensions for the payment of special consumption tax on domestically assembled automobiles.
The COVID-19 outbreak, coupled with the policy of a 50% reduction in registration fees for domestically assembled vehicles, effective from December, has put the used car market in a difficult position, resulting in sluggish transactions.
Due to a 50% reduction in vehicle registration fees for domestically produced and assembled cars, people lined up in huge crowds at registration points in Hanoi to complete the procedures.
In early November, manufacturers and dealers implemented a policy of subsidizing 50-100% of registration fees for imported vehicles in order to increase competitiveness with domestically produced cars.
Representatives from 11 importers, including Audi, Volkswagen, Subaru, Volvo, Jeep, and Porsche, have submitted a proposal to the government regarding regulations to support a reduction in registration fees.