Several carmakers and dealers are offering huge discounts on electric vehicles (EVs) to customers in Vietnam ahead of the forthcoming Lunar New Year holiday, or Tet, due in February.

The incentives, paired with the exemption from EV registration fees, are expected to beef up the consumption of electric cars in the lead-up to Tet.

In January 2022, the Vietnamese government issued a decree granting a three-year exemption from registration fees for electric vehicle buyers, effective from March 1 of the same year.

This measure aimed to boost sales in the local market and foster the growth of the environmentally-friendly vehicle segment.

In the next two years, the registration fee for electric cars will be half that of fuel-powered vehicles with the same number of seats, as per the fiat.

Meanwhile, locally assembled or manufactured petrol-fueled cars are no longer entitled to the 50-percent registration fee cut in 2024.

Despite being the cheapest electric car model in the local market, Wuling MiniEV coming from China is often sold at less than the sticker price.

Many car dealers in Vietnam are offering a discount of VND40 million (US$1,630) on all four versions of the electric car.

The prices of Wuling MiniEV now range from VND199 million ($8,107) to VND239 million ($9,740).

Also, Vietnamese EV maker VinFast is lowering the prices of a series of its models.

As many as 2,000 VinFast cars, except for VF 7, are available at reduced prices to only residents in Ha Tinh Province, north-central Vietnam until the end of January.

VinFast is offering discounts of five and seven percent on its models. The VF 9, an electric sport utility vehicle model, sees its price reduced by some VND162 million ($6,600).

VinFast has introduced models with an electric range approaching 400 kilometers.

For instance, the VF 6 can cover 399 kilometers on a single charge, while VF 7 cars boast an electric battery with a range of 431 kilometers.

Since the start of 2024, two German carmakers Mercedes-Benz and BMW have been introducing various promotional programs and gifts to EV buyers in Vietnam.

Mercedes-Benz is giving the buyers of all of its models a Wallbox charger worth VND46.95 million ($1,910). Its gift-giving program will last until June this year.

Besides, BMW is running a promotional program, offering a Wallbox charger and a charging cable free of charge to buyers of its i4 and iX3 models.

These cars have an eight-year, or 160,000-kilometer warranty on the battery. 

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