The policy of reducing 50% of registration fee issued in recent days has made both car sellers and buyers in Quang Tri province very happy. Although it only lasts for 3 months, this policy is expected to help the car market recover.
Customers are consulted by sales staff at PGSCorp Quang Tri about Honda's CR-V model - Photo: TP
The Government has just issued Decree 109/2024/ND-CP regulating the registration fee for domestically produced and assembled automobiles, trailers or semi-trailers and similar vehicles. Accordingly, from September 1, 2024 to November 30, 2024, the registration fee will be 50% of the fee prescribed in Decree 10/2022/ND-CP dated January 15, 2022 of the Government regulating registration fees.
Having learned about this information on the mass media, right after the National Day holiday on September 2, Ms. Ngo Thi Kim Lien and her husband, in Trieu Thuan commune, Trieu Phong district, went to see cars at the PGSCorp Quang Tri dealership. After walking around, the couple was very satisfied with the Honda CR-V and decided to buy the car right away while the registration fee reduction policy was still in effect. “We planned to buy a car 2 months ago but waited until now when we heard about the 50% reduction in registration fees. According to the advice of the staff at the store, we will save nearly 40 million VND. I think the wait for the past 2 months was completely worth it,” Ms. Lien said excitedly.
Similarly, buying a car right at the time when the Government decided to reduce 50% of registration fees for domestically produced and assembled vehicles, Mr. Phung Ngoc Hung, in Dong Ha City, was very excited because he could reduce the registration fee by tens of millions of VND. "Having experienced Hyundai cars, I plan to buy a car from this company. I also know that depending on the car model, after applying the registration fee reduction, Hyundai can reduce from 18 to 80 million VND/car. I will inform my friends who are interested to buy a car at this time."
It is known that from the beginning of 2024 until now, although car manufacturers and dealers have launched many promotions, big incentives, and direct cash discounts on selling prices to stimulate demand, sales are still growing slowly, the auto market has not escaped the recession. The output of most assembled car models has decreased sharply. However, according to reporters, after understanding the Government's policy of reducing registration fees, many Quang Tri people in need have taken the opportunity to go to showrooms to see and buy cars. According to statistics from car dealers, the sales of domestically produced and assembled cars of dealers in the area from September 1 to now have increased by 20% - 25% compared to the first months of the year. Assembled car models such as: Toyota Vios, Veloz; Hyundai Accent; Honda City; CRV; Mazda CX-5... are of the most interest. The sharp increase in the number of customers wishing to buy cars at dealerships is a positive sign, as previously the auto market had almost “frozen” waiting for information on the reduction of registration fees. According to a consultant at Hyundai Quang Tri, the policy of reducing registration fees brings good news to both car buyers and sales staff. “Just reducing registration fees, whether for one or three months, is something to look forward to, and can stimulate demand and increase sales,” said a consultant.
From 2020 to the end of 2023, the Government has applied a policy of reducing 50% of registration fees for domestically produced and assembled cars three times, each time for 6 months, to support people when buying cars. This year, although the registration fee reduction period only lasts for 3 months, it is also one of the factors that helps stimulate market demand at the end of 2024.
In fact, the previous policy of reducing 50% of registration fees has created positive effects, contributing to stimulating people's car buying psychology, while helping car businesses regain sales growth momentum.
Reducing the registration fee does not reduce the selling price of the car, because this is collected after the customer has purchased the car, but it will reduce the cost of the car. According to calculations, when the registration fee is reduced by 50%, customers buying cars with less than 10 seats, using gasoline, produced and assembled domestically will save from 15 to 300 million VND, depending on the car model, thereby stimulating the market, helping domestic cars increase production.
Speaking to reporters, Mr. Le Quang Minh Hung, Head of PGSCorp Representative Office in Quang Tri, said that over the past 3 years, the purchasing power of the Quang Tri auto market has grown at the same rate as the two major markets in the region, Hue and Quang Binh. However, in the first 3 quarters of 2024, the auto market was relatively gloomy, with purchasing power decreasing by 25% - 30% compared to the same period last year. After the policy of reducing 50% of registration fees officially took effect, the number of customers showed signs of increasing again.
Even during holidays, the number of customers wanting to come and see cars at the dealership is higher than usual.
“I think that reducing the registration fee by 50% for newly assembled cars in the country is a good policy, harmonizing the interests of many parties. It not only helps car manufacturers increase sales, improve market share, and promote product production, but also helps showrooms increase the number of customers researching and buying cars, contributing to increasing sales and solving inventory. As for consumers, reducing the registration tax will help customers save a significant amount of money, making it easier for them to access and decide to buy a car,” said Mr. Hung.
According to Mr. Hung, in addition to reducing registration fees, the Government needs to introduce many policies on special consumption tax to help reduce car production costs, promote a more vibrant and sustainable market than temporary policies.
Nam Phuong
Source: https://baoquangtri.vn/tin-hieu-vui-cho-thi-truong-xe-o-to-188305.htm
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