The waiver of registration fees for electric cars will end, and buyers will be subject to a registration fee of up to 50% compared to gasoline cars from March 1, 2025.
According to Decree No. 10/2022/NĐ-CP, issued by the Government on January 15, 2022, regarding registration fees, which will take effect from March 1, 2022: For a period of three years from the effective date of this Decree, electric cars running on batteries will be subject to a first-time registration fee of 0%. For the next two years, the first-time registration fee will be 50% of the fee for gasoline and diesel cars with the same number of seats. From the second registration onwards, a fee of 2% will be charged, uniformly applied nationwide.
Consequently, the exemption of registration fees for electric cars will conclude on February 28, 2025. Starting March 1, buyers will be required to pay a registration fee equivalent to 50% of that for gasoline-powered vehicles.
The waiver of registration fees for electric cars is coming to an end
Currently, the registration fee for cars registered for the first time in Vietnam is typically 10%, while in Hanoi, Hai Phong, and Quang Ninh, it is 12%. This implies that purchasers of battery-powered electric vehicles from March 1 onwards will be subject to a registration fee ranging from 5% to 6%.
For instance, assuming a buyer in Hanoi purchases an electric car priced at VND 300 million, they will need to pay an additional VND 18 million in registration fees. For a VND 1 billion car, the buyer will incur an extra cost of VND 60 million to get on the road…
The Vietnamese automobile market witnessed an explosion in electric vehicles in 2024. Aside from VinFast, a domestic electric car manufacturer, prominent automakers have also accelerated their plans to introduce pure electric and hybrid models to consumers.
In the previous year, VinFast alone sold 87,000 electric cars (an increase of approximately 150% compared to 2023) and emerged as the market leader, surpassing Toyota, which sold 68,000 units.
Nhat Linh (ANTĐ)
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