The registration fee for Vietnamese-made cars will be cut by 50% for three months starting in September, according to the government.
This is for a fourth straight year that the cut is being implemented, but every time in the past it was only for six months.
The original rates for cars are 12% of the vehicle’s price in Hanoi and 10% in HCMC. The rate for pickup trucks is 60% of that of passenger cars.
The cuts are meant to stimulate consumption of locally made vehicles.
The auto industry is struggling in Vietnam. Sales of locally made cars in the first half of this year fell by 15% year-on-year to 67,849 for members of the Vietnam Automobile Manufacturers Association.
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