According to Decree No. 109/2024/ND-CP, registration fees for domestically manufactured and assembled cars will be reduced by 50% from September 1, 2024 to November 30, 2024. Thus, there is only 1 day left for people who want to buy cars to enjoy this preferential policy.
According to Lao Dong's records on November 29, at Vehicle Registration Office No. 3 (No. 2 Nguyen Khuyen, Van Quan, Ha Dong, Hanoi), hundreds of cars lined up waiting for their turn to register.
Present here since 1 pm, Mr. Vu Huan (Ha Dong, Hanoi) said that he had to take half a day off work to complete the car registration procedure. It is known that this is the second car he owns. Mr. Huan and his wife still decided to buy the car earlier than expected to enjoy the preferential reduction in registration fees.
“At the beginning of 2024, my wife and I intended to buy another car. However, because we didn’t have enough money, we were still hesitant. In the middle of this month, when the registration fee reduction policy was about to expire, we decided to buy it, even though we had to borrow an additional 30% of the car’s value from the bank,” Mr. Huan shared.
Similarly, Ms. Le Thanh Hai (26 years old, Ha Dong, Hanoi) also rushed to buy a car to enjoy the incentives.
“For the past month, my husband and I have been busy borrowing money to buy a car, taking advantage of the many discounts. Luckily, with the support of our parents and siblings, we have just bought the car for exactly one week,” said Ms. Hai.
The Vietnam Automobile Manufacturers Association (VAMA) said that the policy of reducing 50% of registration fees for domestically produced and assembled cars has been effective, contributing to boosting demand for car purchases in Vietnam.
According to VAMA statistics, in September, car sales reached 36,585 units, up 45% compared to August (before the support policy) and up 44% compared to the same period last year.
By October, this figure continued to set a new record with 38,761 units sold, up 5.9% compared to September and up 52.7% compared to the same period last year. Domestically assembled vehicles reached 21,113 units (up 8% compared to the previous month), while imported vehicles reached 17,648 units (up 3%).
Through 10 months of 2024, total sales according to VAMA statistics were 264,344 vehicles, an increase of 12.3% over the same period last year (235,296 vehicles).
