In the recently published draft decree related to the new registration fee, the Ministry of Finance proposed extending the full exemption from registration fees for electric cars running on batteries for another two years. If this draft is approved, electric cars in Vietnam will be exempt from registration fees until February 28, 2027, instead of February 28, 2025.
However, the above proposal was not passed. Therefore, starting today, March 1, 2025, electric cars in Vietnam are no longer exempt from 100% of the registration fee as stipulated in Point c, Clause 5, Article 8 of Decree 10/2022/ND-CP, which took effect on March 1, 2022.
Thus, electric cars in Vietnam are currently subject to a registration fee equal to 50% of the fee for gasoline and diesel cars with the same number of seats. The registration fee rate for cars registered for the first time in Vietnam ranges from 10% to 12%, depending on the locality. This means that the registration fee rate for electric vehicles from that time will range from 5% to 6%, depending on the registration location.
The requirement to pay the registration fee will significantly increase the rolling cost of electric car models in Vietnam. For example, for an electric VinFast VF3 priced at VND 299 million, the rolling price was only ranging from VND 302 – 321 million. However, from March 1, 2025, the rolling price of VinFast VF3 will increase to VND 317 – 339 million.
The increase in rolling costs will affect the sales of electric cars in the Vietnamese market in the coming time. Therefore, it is not surprising that manufacturers and dealers will have to launch new incentive programs to attract customers.
There are currently quite a few brands in Vietnam that are trading in electric cars, such as VinFast, BMW, Mercedes-Benz, Wuling, BYD, Haima, Aion, Hyundai, and Audi. However, the market is dominated by the Vietnamese brand VinFast.
Recently, VinFast also announced the discontinuation of the electric car battery leasing policy from March 1, 2025. In other words, VinFast electric cars are now only sold with a battery purchase option. This, coupled with the loss of the registration fee exemption, is expected to reduce the accessibility of VinFast electric cars to customers.
By the end of 2024, VinFast had delivered a total of 97,399 electric cars, 70,977 electric motorcycles, and electric bicycles globally. In the Vietnamese market alone, VinFast sold 87,000 units, becoming the number one car brand in terms of market share. In 2025, VinFast aims to double the number of vehicles delivered globally compared to 2024.
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