Even though they have to buy a hundred million difference, every minute Vietnamese people still buy a car

Vietnam is one of the hottest growing auto markets in recent years. That is not only shown by the entry of many new car models and new brands, but also the sales that reflect the actual demand for car ownership of Vietnamese people.

Although due to the influence of the global shortage of components and semiconductor chips when China is temporarily stopping the supply of goods due to the Covid-19 epidemic, the number of cars sold in our country has continued to increase during this time. past time.

Every minute Vietnamese people buy a car

According to a report by the Vietnam Automobile Manufacturers Association (VAMA), in April, sales of members reached 42,359 vehicles, Hyundai Thanh Cong (HTC) shipped 6,959 vehicles and VinFast recorded sales number 2,427 vehicles.

Also according to the reports of the 3 above units, in April, the total market sales reached 51,745 vehicles, an increase of about 8% compared to March and an increase of nearly 32% compared to the same period in 2021. does not reflect the reality because many car manufacturers doing business in Vietnam do not announce sales such as Nissan, Mercedes-Benz…

On average, with the sales of nearly 52,000 cars leaving the dealership, more than 1 new car is sold every minute to Vietnamese consumers. This is an impressive figure of the Vietnamese auto market despite facing many difficulties.

In addition to the shortage of auto parts, causing the number of cars to drop to users, Vietnamese customers also have to face the situation of selling cars with accessories. In particular, models such as Hyundai Tucson, Santa Fe, Toyota Corolla Cross, Veloz Cross, Land Cruiser, Ford Ranger, Explorer … all recorded a record high “lost” from a few hundred to a billion dong.

However, the purchasing power of the whole market was still extremely impressive in April 2022. This is forecasted to increase strongly in May and from now until the end of the year.

Where is the “springboard” to help the Vietnamese car market create “waves”

The impressive sales of the Vietnamese auto market in recent years come from the fact that user demand has been pent-up for too long. Before the Lunar New Year, the situation of selling cars with “peanuts” took place in a difficult situation, many users had to pause and wait for January.

However, the longer you wait, the higher the actual difference between the car’s price and the list price will be due to the shortage of components. Meanwhile, the expiration date of 50% registration fee incentives for domestically assembled cars is approaching.

According to Decree 103/2021/ND-CP, domestically manufactured and assembled cars will enjoy a 50% discount on registration fees. This is considered the strongest “springboard” to help the Vietnamese auto market grow miraculously in recent years.

Not only that, the deadline of Decree 103/2021/ND-CP is approaching the deadline of May 31, 2022, so people are more and more eager to own a car to keep up with the preferential registration fee. Although compared to the price difference of many “hot” cars, the reduction in registration fees is really nothing.

For example, like Hyundai Tucson, customers are having to buy a difference of up to 150 million VND, while the highest registration fee incentive in Hanoi only saves more than 50 million VND. Thus, users still lose up to 100 million dong.

The accumulation of many reasons from the lack of cars, the high demand of the people and the 50% discount on registration fees for assembled cars are gradually ending, causing the auto market to grow continuously. It can be considered that the market is like a pent-up spring and this is the right time to unleash it before the preferential policy expires.