Registration fees for second-hand cars with fewer than 10 seats will remain at 2 per cent.
The current level of 15 per cent has been in effect since the beginning of April. Previously, the fee was 20 per cent.
The decision aims to increase car sales in the city, helping automobile manufacturers overcome difficulties caused by falling sales.
Motorbike users will pay a road-use fee of VND100,000 each year, to be sent to the country’s road maintenance fund.
In a response to these changes, HCM City is considering lowering its fee to 10 per cent.
The Viet Nam Automobile Manufacturer’s Association (VAMA) reported that sales of locally assembled automobiles in May rose 11 per cent over April and 42 per cent over the same month last year, totalling more than 9,700 units.
The association raised its prediction of total car sales this year from 100,000 to 108,000.
Toyota Viet Nam Company took the lead, selling around 2,800 units – an increase of 74 per cent over the corresponding period last year.
Ford sold 620 units, a rise of 176 per cent over the same period last year, while Kia saw a 26 per cent increase.
Several new models were provided to the market such as the Mercedes GLK220 CDI, BMW 3 GT, Honda City, Honda CR-V and Hyundai Elantra.
Rolls-Royce Motor Cars planned to launch an exhibition this week, confirming Viet Nam’s potential for the ultra luxury market. — VNS