Ho Chi Minh City Auctions Over 24,000 Seized Motorcycles as Scrap Metal

Managed and transferred by the Ho Chi Minh City Traffic Police Department, these vehicles are being processed in accordance with legal regulations.

The first auction lot comprises 6,992 vehicles, including 1 four-wheeled cargo vehicle, 162 three-wheeled vehicles, and 6,829 used motorcycles. With a starting price of approximately VND 3.3 billion and a deposit of over VND 657 million, the average price per vehicle is around VND 470,000.

The second lot, the largest, features 10,238 used motorcycles. Its starting price exceeds VND 5.8 billion, with a deposit of over VND 1.1 billion, averaging about VND 560,000 per vehicle.

The third lot includes 7,337 vehicles, primarily 7,276 used motorcycles. This lot has a starting price of over VND 3.9 billion and a deposit of more than VND 792 million, with an average price of approximately VND 530,000 per vehicle.

Notably, all three lots are designated for sale as scrap. According to the disposal plan, all vehicles will have their chassis and engine numbers removed, and motorcycles will be cut into three equal parts before being handed over to the winning bidder. The online auction will take place on January 16th, using an ascending bid method with a minimum bid increment of VND 50 million per lot.

In total, 24,343 two-wheeled motorcycles are being auctioned in this round. Despite being sold as scrap, many vehicles still retain their license plates, chassis, and engine numbers, belonging to popular brands such as Honda, Yamaha, and SYM.

Experts emphasize that auctioning vehicles seized for administrative violations is essential for recovering asset value for the state budget. However, the prolonged process from seizure to auction often results in significant deterioration and damage to the vehicles, substantially reducing their actual value and leading to potential public asset waste.

TH (Tuoitrethudo)

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