The Great Motorcycle License Plate Auction: Bidding Starts at 5 Million!

On the afternoon of June 27, the Law on Road Traffic Order and Safety was passed by the National Assembly, allowing for the auction of car, motorcycle, and scooter license plate numbers. Accordingly, the reserve price for a motorcycle or scooter license plate number up for auction shall not be less than 5 million VND. The deposit must not be lower than the reserve price of the license plate number being auctioned.

If, by the registration deadline for the auction, there is only one participant or multiple participants but only one bidder, or if there are multiple bidders but only one offers a price equal to or higher than the reserve price of the license plate number being auctioned, that person shall be declared the winning bidder.

Registration of the vehicle and winning license plate number after the transfer, exchange, donation, or inheritance of a vehicle with a winning license plate shall be managed, issued, and revoked as stipulated in Article 39 of this Law.

The money earned from the auction of license plate numbers shall, after deducting the costs of organizing the auction, advertising, and managing the auction system, be submitted to the state budget as stipulated by law.

The Law stipulates that the Government shall detail this article and prescribe the increment, form, method, order, and procedure for auctioning license plate numbers.

One of the novelties in the Law on Road Traffic Order and Safety is the management of license plate numbers using an identifier code.

Specifically, Article 36 of the Law stipulates: License plate numbers shall be issued and managed according to the identifier code of the vehicle owner, whether an individual or an organization; in the case of an organization without an identifier code, management shall be according to the tax code, the decision on its establishment, or equivalent documents.

In the case of a vehicle that has reached the end of its useful life, is damaged beyond repair, or has been transferred to another owner, the owner may keep the license plate number for a period of 5 years to register another vehicle that they own.

After the aforementioned period, the license plate number shall be revoked by the vehicle registration authority and returned to the license plate number inventory for issuance to other organizations or individuals, except in cases of transfer, exchange, donation, or inheritance of a vehicle with a winning license plate number.

If the vehicle owner changes their address, place of residence, or temporary residence, they shall be allowed to keep the identifier license plate number.

TT (Tuoitrethudo)