Regulator protects car buyers from price traps
The Department of Competition and Consumer Protection has asked automakers and distributors in the Vietnamese market to fix sales prices prior to the payment of deposits.
The department, under the Ministry of Industry and Trade, said it has learned that some car producers and dealers have finalized sales prices after deposits are paid.
Car transaction at a dealer. Photo courtesy of Anycar.vn
By and large, these cases likely mean the buyer must pay a price higher than that offered at the time of deposit. These price differences are not permitted under Vietnamese law, the department said.
The regulator asked automakers and distributors to check over finished deals to avoid price traps.
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