Domestic Automobile Market Strengthened by Fee Reduction

After much anticipation, the Government has issued Decree No 70 on reducing registration fees on domestically-manufactured and assembled motor cars. With the resultant 50% cut in fees, car-owners will save tens of millions or even hundreds of millions of Vietnam dong if they buy a car this year.

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According to experts, motor car prices are still largely influenced by supply and demand factors. If the lower registration fees increase demand beyond supply levels, the price of cars may not decrease as much as expected. However, now is still considered a favorable time to make a purchase, as demand and prices typically rise towards the end of the year.

VNA