The Ministry of Public Security’s Circular No. 79/2024/TT-BCA, which stipulates the issuance and revocation of vehicle registration certificates and license plates for motor vehicles and specialized machinery, has introduced new regulations regarding the auction of license plates.
The new regulations allow for the auction of license plates for personal and business vehicles (with a yellow background and black letters and numbers) as well as motorcycles. The starting bid for car license plates is set at VND 40 million, while for motorcycles and scooters, it is VND 5 million. Before each auction, the authorities will publicly announce the number of registered participants for each license plate.
Notably, for license plates in the format of AAAAA (quintuple) and ABCDE, the starting bid for the second and subsequent auctions will be VND 500 million for cars and VND 50 million for motorcycles and scooters.
The circular also stipulates that successful bid license plates will be affixed with an identification sticker with a red and yellow background and blue letters and numbers. The sticker is round with a diameter of 30mm, printed with anti-fade ink, and incorporates anti-counterfeiting technologies.
Winners of the license plate auction are required to pay the full amount within 30 days of the announcement of the results. The winning bid does not include registration and license plate fees.
If the winner fails to pay or pays insufficiently within the 30-day period, the license plate will be auctioned again or transferred to the vehicle registration and management system. Simultaneously, the winner will not be refunded their deposit or any payments made and will be barred from participating in license plate auctions for one year.
Winners of the license plate auction must register their vehicles and attach the plates within 12 months. In case of force majeure, this period may be extended by an additional six months. Beyond this deadline, the license plate will be auctioned again or transferred to the registration system, and no refunds will be given for any payments made.
TH (Tuoitrethudo)
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