Prime Minister cuts registration fee for locally-manufactured car buyers
Prime Minister Nguyen Xuan Phuc will cut 50 percent of registration fees for locally-manufactured and -assembled cars from now to the end of this year.
Customers will benefit from a cut to registration fees after buying locally-manufactured and assembled cars from now to the end of this year (Photo: VNA)
Hanoi (VNS/VNA) - Prime Minister Nguyen Xuan Phuc will cut 50 percent ofregistration fees for locally-manufactured and -assembled cars from now to theend of this year.
The cut will help customers save from tens of millions to hundreds ofmillions of dong, depending on the type of vehicle.
The decision was announced at a meeting held this week on the Government’sdraft resolution on tasks and solutions to continue solving difficulties forproduction and business, promoting disbursement of public investment capitaland ensuring social safety in the context of the COVID-19 pandemic.
The registration fee reduction is one of the solutions proposed by theMinistry of Industry and Trade in order to help local businesses recoverproduction and trade as well as stimulating the consumption of locally-manufacturedand -assembled cars.
Cars currently have a registration fee of 12 percent of the value in Hanoi, and10 percent in remaining cities and provinces nationwide.
Some ‘hot’ models in the markets, including: Mercedes Benz with pricesranging from 1.39 billion VND (59,600 USD) to 4.6 billion VND will now haveregistration fees of between 83 million VND and 276 million VND; Huyndai Accentpriced at 426 million VND will now have registration fee of about 26 millionVND; as for Toyota Fortuner priced at 1.033 billion VND, customers will now payabout 62 million VND.
Moreover, dealers are also offering attractive promotions and discounts formany models. Therefore, customers will enjoy great benefits when buying acar at this time.
Thanks to this reduction, locally assembled automobile models have a bigadvantage over imported cars. To be able to compete, imported cars are facingpressure to reduce prices further.
Phuc also required the Ministry of Planning and Investment to build a projecton solutions for supporting industries, taking advantage of opportunities fromthe investment wave after the COVID-19 pandemic and developing ecosystems forthe automobile industry./.
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Customers will benefit from a cut to registration fees after buying locally-manufactured and assembled cars from now to the end of this year (Photo: VNA) 
