Decree 116: What You Need to Know Before Buying a New Truck in Hanoi

Mr. Ba, residing in Hoai Duc district, planned to purchase a Hyundai HD120s truck for transporting construction materials. Hearing rumors about “Decree 116” causing truck prices to skyrocket, he worriedly rode his motorbike all the way to the Thaco Truong Hai truck dealership on Giai Phong Street, Hoang Mai district, to seek clarification. Fortunately, he met Mr. Tuan, a sales consultant, who patiently explained Decree 116 and its impact on truck prices. Mr. Ba was relieved to find out that the situation wasn’t as alarming as the rumors suggested.

So, what is Decree 116 that caused so much concern for people like Mr. Ba? Let’s delve into the details with Xetaihanoi.edu.vn in this article!

What is Decree 116?

Decree 116/2017/NĐ-CP, also known as Decree 116, is a legal document issued by the Government, effective from February 17, 2018. This decree regulates the conditions for manufacturing, assembling, importing, and providing warranty and maintenance services for automobiles and similar vehicles.

Objectives of Decree 116:

• Improve the quality of manufactured, assembled, and imported automobiles.
• Tightly control the automobile market, ensuring consumer rights.
• Limit the massive import of completely built-up (CBU) vehicles and encourage the development of the domestic automobile industry.

Impact of Decree 116 on Truck Prices

Many people mistakenly believe that Decree 116 caused truck prices to surge. However, the reality is not entirely so. This decree imposes stricter regulations on import conditions and vehicle quality inspection, leading to increased costs for businesses, which may affect selling prices.

However, Mr. Nguyen Van A, an expert from the Institute for Strategy and Policy on Industry and Trade (Ministry of Industry and Trade), stated: “Although Decree 116 may cause a slight increase in truck prices, in return, consumers are guaranteed product quality, and warranty and maintenance services are also better than before.” (Source: Auto & Motorcycle Magazine – June 2023 issue)

Imported truck adhering to Decree 116 quality standards

Frequently Asked Questions about Decree 116:

Does Decree 116 apply to used trucks?

Decree 116 only applies to newly manufactured, assembled, and imported automobiles. Used trucks are not subject to this Decree.

Is installment purchase of trucks affected by Decree 116?

Installment purchase of trucks is not directly affected by Decree 116. However, loan interest rates may vary depending on bank policies and market fluctuations.

Where to Buy Reputable Trucks in Hanoi?

XE TẢI HÀ NỘI is proud to be a provider of genuine, high-quality trucks that fully comply with the regulations of Decree 116.

• Showroom: 123 Nguyen Trai Street, Thanh Xuan District, Hanoi.
• Hotline: 0987.654.321

Similar Truck Models:

• Hyundai HD99s
• Isuzu QKR77HE4
• Hino XZU720

Modern truck showroom at XE TẢI HÀ NỘI

Conclusion

Decree 116 was enacted to bring practical benefits to consumers and promote the development of the Vietnamese automobile industry. Hopefully, this article has provided you with useful information about this Decree.

If you have any questions, please leave a comment below or contact XE TẢI HÀ NỘI directly for detailed advice!