The Perfect Time to Buy a Car?

The Vietnamese automotive market enters the final phase of May with a plethora of incentives offered by car manufacturers and dealers to stimulate demand during the summer shopping season. These promotional programs, worth up to hundreds of millions of VND, make this an ideal time to purchase a car.

Attractive Promotions with Significant Value

Promotions and discounts have always been an effective strategy to stimulate demand, commonly employed by car manufacturers in Vietnam. These promotions come in various forms, such as registration fee support, direct price reductions, cash gifts, or accessory packages that can be converted into cash. Sometimes, the value of these promotions can reach up to hundreds of millions of VND.

For instance, Subaru is offering promotions for its urban SUV duo, the Subaru Crosstrek and Subaru Forester. The highest discount of 230 million VND is applicable to the Forester 2.0 i-S EyeSight, reducing the price from 1.199 billion VND to 969 million VND.

Skoda’s imported SUV lineup also offers cash incentives of up to 200 million VND for customers purchasing vehicles in May. The Czech automotive brand is preparing to launch the Skoda Kushaq, the brand’s first locally assembled model in Vietnam, positioned in the B-segment SUV category.

Skoda offers a maximum discount of 200 million VND. Image source: TC Motor.

Well-known car brands among Vietnamese customers, such as Ford, Toyota, Honda, Hyundai, Mazda, Kia, and Suzuki, have also launched incentives in the form of registration fee support, direct price reductions, or genuine accessory packages.

Among these, the Ford Explorer currently enjoys a direct discount of 100 million VND, bringing the price below the 2 billion VND mark. The Kia Sorento, a collaboration between Kia and Thaco, offers a maximum discount of 80 million VND, while the Mazda CX-5 offers a 20 million VND discount for all 2025 production versions.

VinFast, a domestic electric vehicle manufacturer, introduces a range of incentives in May, including vehicle price promotions and a two-year physical insurance package. The total value of these incentives varies by model and can reach up to 68 million VND for the VF 9 full-size SUV.

VinFast offers a range of incentives for car buyers. Image source: VinFast.

BYD also launches a promotional program that includes official gift packages and preferential interest rates for the first two years, in collaboration with a Vietnamese bank. This program applies to the BYD Dolphin, BYD Atto 3, and BYD Seal.

According to dealer information, the BYD Atto 3 is priced from 686 million VND for the Dynamic version. The BYD Seal Advanced version, originally priced at 1.119 billion VND, is now available at 927 million VND.

Additionally, all electric vehicles in Vietnam continue to be exempt from registration fees, allowing Vietnamese customers to save tens of millions, or even billions, of VND in vehicle registration costs when choosing to purchase an electric vehicle at this time.

Buying a Car before Potential Number Plate Fee Increase?

Recently, some car sales consultants have been encouraging customers to purchase vehicles before July to take advantage of potential savings on number plate registration fees.

Information shared by a car sales consultant.

Specifically, these consultants suggest that customers with permanent residence in Binh Duong and Ba Ria – Vung Tau provinces may have to pay up to 20 million VND for number plate registration after these provinces are merged with Ho Chi Minh City.

This information may stem from the plan to integrate Ho Chi Minh City, Binh Duong province, and Ba Ria – Vung Tau province to form a new administrative unit named Ho Chi Minh City, a centrally governed city.

At the 22nd meeting (a specialized session) of the Ho Chi Minh City People’s Council for the 2021-2026 term, the delegates approved the resolution agreeing in principle to the rearrangement of administrative units and the construction of a model for local government organization with two administrative levels.

According to the resolution, Ho Chi Minh City, Binh Duong province, and Ba Ria – Vung Tau province will be integrated to form a new administrative unit named Ho Chi Minh City, a centrally governed city.

Based on this information, the car sales consultants believe that customers in Binh Duong and Ba Ria – Vung Tau provinces who purchase vehicles before July 1st will save 19 million VND.

While the plan to integrate Ho Chi Minh City with Binh Duong and Ba Ria – Vung Tau provinces has been approved in principle, the official implementation timeline and details related to number plate fees in the new administrative unit have not yet been confirmed.

Number plate registration fees vary by locality. Illustrative image source: Hong Quang.

Currently, the fee for the first-time registration of a car number plate in major cities like Hanoi and Ho Chi Minh City is 20 million VND per car with up to 9 seats. Binh Duong and Ba Ria – Vung Tau provinces belong to Region II, where this fee is currently set at 1 million VND per car.

There has been no new guidance on changes to car registration fees in the localities after the merger. However, the promotional programs offering discounts of up to hundreds of millions of VND provided by car manufacturers also present a great opportunity for Vietnamese customers to own a car at a reasonable cost.

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