Car sales this month have alreadytripled those in November last year, with customers looking to avoid anew registration fee that becomes effective later this year.
Nguyen Sang, a car salesman from a dealership on Hanoi’s Pham HungStreet, said in the second half of December, his showroom sold more than40 imported cars, including models such as Daewoo, Hyundai and Kia,while in November, they sold less than 10, with prices ranging from23,000 USD and 55,500 USD per vehicle.
Dealershipsexperienced a sudden rush on the final day of December, selling 10-15vehicles each, and now that figure was up to 20, Sang said.
Nguyen Ha Thoan, an employee of GP Auto Showroom, said customers arebuying new cars in preparation for the new year and to avoid theimminent new registration fees.
Prospective buyer Hong Maisaid that many of her friends had advised her to buy a car before thenew number plate and registration fees came into effect. Mai bought aToyota Yaris for 28,500 USD, saving her 18 million VND compared to theprice she would have to pay next month.
Automobile tradersattributed the rise in car sales to a Ministry of Finance policy thatwill raise registration fees from between 10 and 15 percent to 20percent from the beginning of February. In addition, the number platefee will increase by 1000 percent to 20 million VND per car.
The General Department of Customs is also going to apply new tax rates on imported cars and this has caused a further rush./.