2022 marks many events for the auto market with a series of policies to stimulate shopping demand after disruptions.

In 2022, although the pandemic was under control, supply constraints persisted but was gradually overcome. Among the many policies supporting buyers and stimulating demands, quite a few were for electric vehicles to change consumers’ habits.

Car sales rose when the government supported 50% of registration fee

To stimulate demand for the auto market, from December 2021 to the end of May 2022, Decree No. 103/ND-CP came into effect and stipulated the level of pre-fee collection for domestically manufactured and assembled cars. Accordingly, people who registered domestically produced and assembled cars would receive a 50% reduction in registration fees.

All assembled cars received a 50% discount on the registration fee to help reduce the rolling price. As a result, vehicle consumption in the Vietnamese market within the first half of 2022 also increased significantly. According to VAMA, there were 176,681 cars sold by the end of May 2022, an increase of nearly 40% over the same period in 2021. The above figures did not include VinFast and Hyundai.

100% of registration fee was reduced for electric vehicles

Registration fee support is considered the most popular policy post-Covid. The fact that electric cars in Vietnam were completely exempt from registration fees has helped many users switch to this futuristic vehicle.

According to the Government’s Decree 10/2022/ND-CP stipulating the new registration fee for battery electric cars, the first registration fee rate of 0% for battery electric cars applied from 1 March 2022, which lasts for 3 years. The Decree also states that in the next 2 years, the registration fee for electric cars will be equal to 50% of that for petrol and diesel cars with the same number of seats.

Thus, electric cars were and still are the beneficiaries of the policies. This will be a popular means of transport in the future to protect the environment and reduce greenhouse gas emissions.

Vietnam’s electric vehicle brand goes international for the first time

VinFast held a ceremony to export a batch of electric cars including 999 VF8 units to the international market on November 25, 2022. The event marks a special step forward for the Vietnamese car industry when, for the first time, automotive technology products owned and manufactured by Vietnamese officially entered the world. In which, the US is the first international market, known for its strict standards.

The first batch of VinFast VF8 cars exported for the US market will be handed over to the first customers at the end of December 2022. This is the first exported batch among 65,000 orders for VinFast VF8 and VF9 electric cars globally.

Right after the US, VinFast will export the next batch of VF8 to the Canadian and European markets to promptly hand over to customers in 2023. In Vietnam, VinFast is planning to deliver the VF9 to users in the first quarter of 2023.

Affordable practical cars took the throne

Usually in the segment of low-cost cars from 500 to 700 million VND, sedans are often chosen. But recent times, user trend has changed as practicality now holds higher value.

Since the birth of Mitsubishi Xpander, this segment had begun to heat up. Major car manufacturers have also jumped into this market, such as Toyota Veloz Cross and Avanza Premio, which had also made their own mark.

Recently, there are two other names from Korea, Kia Carens, and Hyundai Stargazer, to help users have more new options. It is expected that next year, this segment will have many great fluctuations when the supply of car manufacturers has been resolved.

Many newly launched models topped the segment

In 2022, about 50 vehicles were be launched in all segments. Many models have changed the market landscape. The most prominent is Ford Everest with the price from 1.099 to 1.452 billion VND, having the highest price in the segment but surpassing many other competitors to lead the market share for 2 consecutive months.

Next, Ford Territory also showed its strength when surpassing many veteran rivals such as Mazda CX-5, Honda HR-V, Hyundai Tucson to take the first position in the segment right from the first month of launch. The end of year is considered a prime time for Ford Vietnam when 3 out of its 5 models lead their segments.

In addition, Toyota Veloz Cross also shows its attraction when continuously closing onto Mitsubishi Xpander; Hyundai Creta surpasses Kia Seltos and Toyota Corolla Cross, etc. However, in 2022 there have also been a series of names that no longer appear on Vietnamese markets such as Ford Eco Sport, Toyota Hilux, and VinFast fuel-based cars.

Source: cafeauto.vn