The Ministry of Transport’s (MOT) Circular 02/2023, amending and supplementing articles of Circular 16/2021 which took effect on March 22, 2023 includes an important article: brand-new vehicles manufactured within the last two years are exempted from inspection. The decision has been applauded by the public.
The watchdog agency estimates that under the old regulation, about 574,000 new cars will need to be registered for the first time in 2023, which is 115 percent of the number of newly registered cars in the whole year 2022.
Now, as the number of cars won’t have to be inspected for the first time, VND127.8 billion will be saved.
Also, according to the Vietnam Register, brand-new passenger cars with up to 9 seats that do not provide transport services account for the highest proportion, about 415,900 cars, or 72.4 percent of total newly registered cars.
With the first registration waiver policy, the owners of these cars will be able to save VND86.2 billion.
For passenger cars with up to 9 seats that provide transport services, the total amount of money to be saved is VND3.39 billion (16,500 cars); passenger cars with more than 9 seats, VND1.5 billion (5,900 cars); trucks, specialized vehicles, VND35.18 billion (125,800), trailers and semi-trailers, VND1.54 billion (9,900).
Except for the amount of VND130 billion as mentioned above, Circular 02 also extends the time between two inspection circles for family-owned cars (passenger cars with up to 9 seats that are not used for transport service). The extension means the saving of nearly VND100 billion a year for millions of car owners.
A report found that there are 5,016,569 vehicles of different kinds. Of these, passenger cars with up to 9 seats not used for transportation service are 2,924,557 cars, accounting for 58.3 percent.
Of the over 5 million vehicles now, the number of cars bearing the direct impact of the new policy in 2023 (registration exemption, extension inspection time) will be 3.793 million cars, of which 2.753 million cars belong to the group of cars with less than 9 seats and no transportation service.
It is estimated that nearly 416,000 brand new cars won’t have to undergo the first inspection in 2013, the group of family-owned cars with the use time of less than seven years will also get benefits when the inspection circle has been extended from 18 months to 24 months. The number of cars belonging to this group is relatively high with 1.871 million cars.
Besides, the old cars with the use time of 12-20 years will also benefit when the inspection circle has been extended from 6 months to 12 months. There are about 466,000 cars in this group. Meanwhile, very old cars (over 20 years old) won’t be impacted by the new regulation because they will still need to be inspected once every six months.