return icon

Auto dealers deemed main beneficiaries of registration fee cut

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.

Cars undergo final checks at a Thaco Mazda auto plant before being launched in the market. Auto dealers stand to be the biggest beneficiaries of the 50% car registration fee cut instead of car buyers – PHOTO: VNA

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. SGT




Data centers: Vietnam's bright spot

Under the impact of Covid-19, many activities have moved to online platforms and amount of data uploaded has been increasing.

More Vietnamese scientists returning to home country

More Vietnamese scientists decided to return to the country with a desire to devote themselves to their homeland’s growth.

Hoang to defend WBA belt in hometown next month

Truong Dinh Hoang announced the bout on his Facebook page on February 26, though the challenger has yet to be named.

Sea tourism and expectations for a 'made in Vietnam' fleet

The number of cruise tourists accounts for only 2-3% of the total number of international visitors to Vietnam.

Hanoi’s tourism sector rakes in over VND1 trillion during Tet holiday

The capital expects to welcome roughly 332,000 visitors, including 32,000 international guests, during the Lunar New Year holiday from January 21 to January 26, with total revenue anticipated to reach more than VND1 trillion.

Stone lion statues - Symbol of stone sculpture art of Ly Dynasty

According to Buddhism, lion is the embodiment of intellectual power, but with stars on the body, the stone lions of the Ba Tam pagoda-temple also have the meaning of carrying the moving sky.

Vietnam's retail market predicted to bustle in 2023

Although 2023 is forecast to see many difficulties, experts expect this is a recovery year of the retail sector after COVID-19 pandemic as there are many signs showing the return of investors and higher demands.

Vietnam's leather and footwear industry targets US$27 billion in 2023 exports

The leather and footwear industry is striving to reach US$27 billion in export turnover in 2023, an increase of about 10% compared to one year earlier amid shrinking major markets and falling demand.

Discovering artisans' skills in Thanh Ha ancient pottery village

If pottery villages now mainly use molds, artisans in the Thanh Ha ancient pottery village in Hoi An city, Quang Nam, have kept their traditional method of making pottery - hand made and wheel thrown.

Destinations across Vietnam report surges in holiday-maker numbers during Tet

Tourist attractions across Vietnam have lured large numbers of holiday-markers during the week-long Lunar New Year (Tet) festival from January 20-26.

EVFTA presents tremendous trade, investment advantages

Commitments outlined in the EVFTA on both trade and investment are expected to contribute to attracting European businesses and investors to expand their activities in Vietnam, further promoting trade and investment cooperation.

10 houses with special architecture in Vietnam

With bold ideas, architects can create houses that are both aesthetic and functional. Here are 10 interesting houses in Vietnam.

89 people killed in traffic accidents during seven-day Tet holiday

A total of 152 traffic accidents occurred nationwide, killing 89 people and injuring 111 others during the 2023 Tet Lunar New Year holiday from January 20-26, reported the Traffic Police Department.

End of Tet holiday marked by high traffic congestion around major cities

In a bid to avoid the congestion, many people opted to return on Wednesday afternoon or Thursday morning.

Water resources planning scheme for 2021-2030 announced

The Ministry of Natural Resources and Environment (MONRE) has announced a water resources planning scheme for the 2021-2030 period with a vision to 2050, which was approved by the Prime Minister in December 2022.