HCMC – The starting price for motorcycle license plate auctions will be VND5 million, starting January 1, 2025, according to Decree 156/2024.
The decree, effective January 1, 2025, provides detailed regulations for Articles 37 and 38 of Vietnam’s 2024 Road Traffic Order and Safety Law, governing online license plate auctions through an ascending price method.
License plates for cars, motorcycles, and motorbikes will be publicly listed, allowing individuals and organizations to select and register for participation.
The starting auction price for car license plates is VND40 million. Meanwhile, for motorcycles and motorbikes, the starting price is VND5 million.
Premium license plates with formats such as AAAAA (A > 4) or ABCDE (A < B < C < D < E, A > 4) that are re-auctioned after the second round will have a starting price of VND500 million for car plates and VND50 million for motorcycle plates.
The bid increment is set at VND5 million for car license plates and VND500,000 for motorcycle or motorbike plates. Auction registration fees are VND100,000 for car license plates and VND50,000 for motorcycle plates.
Participants must pay a deposit equal to the starting price of the license plate they intend to bid on. This deposit must be transferred to a separate account held by the auction organization at a bank, starting from the auction announcement date until two days before the auction begins.
If a bidder wins, the deposit will be transferred to the Ministry of Public Security’s designated account for payment into the state budget, as per regulations.
The winning bidder must pay the full auction amount, minus the deposit, within 30 days from the notification of auction results.
