The Ministry of Finance (MoF), in the latest submission to the Government, has proposed a plan to consider not reducing registration fees for domestically produced and assembled cars.
The 50 per cent registration fee reduction scheme, previously proposed by the government for cars made and assembled in Viet Nam, should apply to imported vehicles as well.
The Government has asked the Ministry of Finance and other relevant ministries to devise a 50 per cent cut on auto registration fees for locally assembled or manufactured cars which aims to support the domestic automobile industry.
Honda Vietnam Co., Ltd. (HVN) is launching its Support 100 per cent promotion, through which the car manufacturer will pay the registration fee for customers who buy a Honda CR-V from January 1 to January 20, 2023.
The 50 per cent reduction of registration fee for domestically-assembled cars is considered a push to help the auto market grow in the next six months.
A report by the Vietnam Automobile Manufacturers'' Association (VAMA) said its members sold 13,585 vehicles in the month, down 22 per cent over the previous month.
On the last Saturday of November a unique market opened for a day in a café in District 1, HCMC: one selling fresh foods with organic certificates issued by Vietnamese and international agencies.
EuroCham proposed the Government to apply the 50 per cent registration fee reduction to all automotive assembly firms, importers and dealers of new vehicles.
The Ministry of Finance has officially asked the Government to cut 50 per cent of the registration fee for customers who buy locally-produced and assembled automobiles.
Registration fees for pickup trucks and vans will be raised to 6 per cent of the vehicles value from the current rate of 2 per cent from April 10, according to a revised Government decree.
Auto sales in HCM City are likely to dip this month because many
customers are waiting for a registration fee cut to come into effect
from January 1, 2014.