DTiNews
  1. VIETNAM TODAY

  2. Business

PM approves 50% cut for auto registration fees

Prime Minister Nguyen Xuan Phuc has agreed to a 50% reduction in auto registration fees until the end of this year.

Prime Minister Nguyen Xuan Phuc has agreed to a 50% reduction in auto registration fees until the end of this year.

However, it is unclear which exact day the fee cut applied to locally-assembled and produced cars only would take effect.

PM approves 50% cut for auto registration fees - 1
 

The auto registration fees cut by 50%


The current auto registration fees in Vietnam is 10%, except for Hanoi where the fees of 12%.

The Mercedes-Benz S 450 Luxury is now the most expensive locally-made car with the price of VND4.96 billion (USD215,652). It costs the owner in Hanoi up to VND596 million in registration fees. So the registration fee decrease of 50% could help to save VND298 million (USD12,956).

Similarly, the registration fees for Mercedes-Benz E 300 AMG will be slashed to just by VND146-175 million.

The new policy will benefit local carmakers such as Truong Hai, Thanh Cong, Vinfast, Toyota and Mercedes-Benz. This is also expected to help stimulate demand for domestically-made and assembled cars, instead of imports.

According to experts, car traders would have to adjust imported car prices to compete with locally-made models.
Source: dtinews.vn
More news
Fuel prices continue to rise

Fuel prices continue to rise

The Ministry of Finance and the Ministry of Industry and Trade announced changes to retail fuel prices, effective from 3 pm today, August 28.
Loading...