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The Prime Minister assigned the Ministry of Finance to study and propose a plan to extend tax payment and reduce registration fees for domestically produced and assembled vehicles in May.
This has caused many customers to postpone their car purchases to wait for the benefits of the new policy.
However, when he learned that the registration fee might be reduced in the near future for domestically produced and assembled cars, helping him save more money, he decided to postpone buying a car at this time, waiting for the State's support policy.
Sharing the same thought with Mr. Le Hai, Ms. Huyen Linh, an office worker, said that her husband also planned to buy her a size A car as a birthday present in May, but they agreed to postpone the purchase to wait for policies to support the reduction of registration fees in order to save some money.
"In these difficult economic times, saving any amount is the right thing to do," said Linh.
Faced with the reality that many customers have abandoned their car purchase plans or do not want to receive their cars at this time, a sales consultant at Hyundai Dong Do said that this dealership has also recorded many similar cases.
However, this person analyzed that normally if the registration fee is reduced according to the State's support policy, car manufacturers and dealers will often cut down on discounts and incentives because then market demand may exceed the manufacturer's supply.
According to this employee, for some hot car models, buyers at the time of reduced registration fees may have to pay additional "grease" or "buy beer with peanuts" costs.
In particular, at the end of the year, when the policy of supporting the reduction of registration fees is about to expire, there may be a situation of overloading the new vehicle registration system. This has happened in previous registration fee reductions.
Therefore, instead of waiting for a reduction in registration fees, customers should also consider the appropriate time to buy a car to optimize car purchase costs in the most effective way.
Prime Minister Pham Minh Chinh has just signed Directive No. 12/CT-TTg dated April 21, 2024 on key tasks and solutions to promote socio-economic development.
One of the contents requested by the Prime Minister in Directive No. 12 is to assign the Ministry of Finance to urgently study and propose to the Government and the Prime Minister in May to extend the tax payment deadline, reduce registration fees for domestically produced and assembled cars, and reduce land and water surface rental fees.
Previously, the Vietnamese automobile market was promoted three times by the Government with a preferential policy of reducing 50% of registration fees for domestically produced and assembled automobiles. The first time took effect in the last 6 months of 2020; the second time applied in the first 6 months of 2022 and the most recent in the second half of 2023.
In all three applications, the above incentive policy has created explosive results in terms of sales. It is recorded that the number of domestically produced and assembled vehicles - the beneficiaries of the incentive - has increased by an average of 200% in new vehicle registrations.
Notably, in terms of total automobile market capacity in 2022, Vietnam achieved a sales output of more than 500,000 vehicles - setting a record sales level ever.
Meanwhile, the first quarter of 2024 has ended, with the business results of most large and small car brands not meeting expectations. The Government's assistance at this time is a hope for the market to soon become vibrant again in the second half of 2024.
.jpg "Hai Duong's agricultural, forestry and fishery value increased by 7.51% in the first quarter.")
