The Race to Register: How Dealerships are Speeding Up Car Registrations for their Clients

The fourth wave of registration fee incentives for domestically assembled cars in Vietnam, which began in September and lasted for three months, is coming to an end this week.

At many dealerships, sales consultants are in a rush to complete car registrations for their customers to take full advantage of the 50% registration fee discount.

The Rush to Register Cars

A sales consultant at a Hyundai dealership in the southern region of Vietnam shared with Tri thức – Znews that they are expediting car registrations for their customers during the final week of the discounted registration fee period.

“I’m in a race against time to get my customers’ car registrations done before the end of the month, when the 50% registration fee discount ends,” the sales consultant said.

Hyundai offers a range of domestically assembled models.

The consultant mentioned that they are prioritizing customers who are purchasing vehicles through bank loans. The process of approving loan applications for car purchases typically takes a minimum of 2-3 days, so if the loan application is not processed early in the week, the buyer will miss out on the registration fee discount.

“I had to decline to accept a deposit from a customer because I was concerned about not being able to complete the registration in time. This particular customer chose a model that is in high demand and will be purchasing it through a bank loan,” the sales consultant explained.

A sales consultant at a Toyota dealership in Ho Chi Minh City shared that during the final week of the incentive program, the dealership is not accepting any new deposits and is focusing on finalizing registration procedures for customers before the end of the month.

“The sales team is working tirelessly to complete car registrations for our customers. This time around, the focus is mainly on domestically assembled models such as the Toyota Vios and the Toyota Veloz Cross,” the consultant said.

The Toyota Vios is a domestically assembled model that has gained popularity among Vietnamese customers.

Mazda dealerships have also witnessed a significant number of customers opting for domestically assembled models such as the Mazda3 and the Mazda CX-5.

“The new Mazda3 has just been launched, and we are ready to process the registration fee discount for customers who are interested in this model. However, the price of the Mazda3 Euro 5 version has increased by 20 million VND, so Vietnamese customers are not overly enthusiastic about it,” shared a sales consultant from a Mazda dealership in Ho Chi Minh City.

A Much-Needed Boost for the Vietnamese Automotive Market

According to sales consultants interviewed by Tri thức – Znews, the number of car buyers has surged during the period when the registration fee incentives for domestically assembled cars were in effect.

“This year’s registration fee incentive program only lasted for three months, so customers were eager to place deposits and make purchases early on,” revealed a sales consultant from a Japanese car brand.

As reported by the Vietnam Automobile Manufacturers’ Association (VAMA), the first two months of the registration fee discount period had a very positive impact on the Vietnamese automotive market.

September saw a 45% increase in car sales compared to the previous month, while October set a new high for the year, with a total of 38,761 vehicles sold.

In the first ten months of the year, the total sales of domestically assembled cars reached 134,754 units, while imported car sales stood at 129,590 units.

While the sales of domestically assembled cars decreased by 3% compared to the same period last year, the sales of imported cars increased by a significant 35%.

Thus, the registration fee incentives not only positively impacted the sales of domestically assembled cars but also boosted the sales of imported vehicles.

According to Tri thức – Znews‘s survey, importers are also offering incentives equivalent to the registration fee to stay competitive with domestically assembled cars.

The majority of imported cars are offered a 50% registration fee discount, but some models, such as the Ford Everest Ambiente and Skoda’s SUV offerings, the Karoq and Kodiaq, are promoted with a 100% registration fee equivalent discount.

Many imported and domestically assembled car models offer total incentives equivalent to a 100% registration fee discount.

Additionally, some domestically assembled models, including the Kia Sorento PHEV, Toyota Vios, Toyota Veloz Cross, Toyota Avanza Premio, Ford Ranger, and Ford Territory, are being offered an additional 50% registration fee discount on top of the 50% state-mandated discount, resulting in a total discount equivalent to 100% of the registration fee during November.

These double incentives are seen as a crucial “boost” to help car sales recover and rescue the Vietnamese automotive market from the stagnant phase it experienced earlier this year.

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