25 C
Ho Chi Minh City
Tuesday, November 24, 2020

Auto dealers deemed main beneficiaries of registration fee cut

Must read

Four new imported cases of Covid-19 reported

HCMC – Four Vietnamese returnees from abroad that were quarantined upon arrival in Vietnam have been diagnosed to be infected with Covid-19, sending the...

Vietnam Airlines online check-in service now available at Cat Bi airport

HCMC - Vietnam Airlines is offering the online check-in service to passengers departing from Cat Bi airport in the northern port city of Haiphong...

NA agrees on solutions to help Vietnam Airlines

HCMC – The National Assembly (NA) on November 17 passed a resolution at its 10th sitting, approving the Government’s proposals to eliminate the difficulties...

ACB and Sun Life Vietnam establish bancassurance partnership

HCMC - Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) has entered into a 15-year exclusive bancassurance partnership with the Asia Commercial Joint...
HCMC – Auto dealers have proved to be the biggest beneficiaries of the Government’s move to introduce a 50% cut in car registration fees, and not car buyers, as expected, since many dealers have taken advantage of the cut to end their promotional programs and increase the prices of cars, according to operators of auto showrooms.

Many car buyers expected to enjoy huge price cuts after the move to lower the auto registration fee by half took effect from June 28 this year. It will go on until the end of 2020, reported Dan Tri news site.

The owner of Manh Thang showroom based in Hanoi, Pham Manh Thang, said that auto dealers reduced their promotional programs after the registration fee reduction took effect. The programs were introduced in the previous months to deal with the slump in sales and attract more customers.

Accordingly, auto manufacturers and dealers have proved to be the biggest winners of the 50% cut as they no longer have to offer discounts to customers. From the perspective of customers, there has been no change in the cost of buying cars, Thang added.

Further, as the registration fee reduction encouraged consumers to purchase cars during the period, auto dealers grasped this opportunity to raise car prices, resulting in an increase in registration fees.

Thang advised people who wish to buy cars from now until the end of the year to exercise caution and not follow the crowd. The fee cut is only valid on locally assembled or manufactured cars.

Nguyen Van Dung, owner of an auto dealership in Hanoi, confirmed that car prices have increased by VND10 million-VND100 million since the end of May when the Government planned the registration fee cut.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest articles

Four new imported cases of Covid-19 reported

HCMC – Four Vietnamese returnees from abroad that were quarantined upon arrival in Vietnam have been diagnosed to be infected with Covid-19, sending the...

Vietnam Airlines online check-in service now available at Cat Bi airport

HCMC - Vietnam Airlines is offering the online check-in service to passengers departing from Cat Bi airport in the northern port city of Haiphong...

NA agrees on solutions to help Vietnam Airlines

HCMC – The National Assembly (NA) on November 17 passed a resolution at its 10th sitting, approving the Government’s proposals to eliminate the difficulties...

ACB and Sun Life Vietnam establish bancassurance partnership

HCMC - Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) has entered into a 15-year exclusive bancassurance partnership with the Asia Commercial Joint...

An Phat Holdings wins big at ASEAN Business Awards 2020

HANOI - At the ASEAN Business Awards (ABA) 2020 within the framework of the ASEAN Business and Investment Summit held from November 12 to...