Paying extra "soft fees" is necessary to get a car for Tet holiday.

To have a car for the Lunar New Year holiday, many people pre-ordered vehicles and eagerly awaited delivery before the holiday, causing a surge in sales for many manufacturers. Some models became scarce, forcing manufacturers to postpone delivery until after the holiday, or buyers accepted paying "softer fees" to receive their cars immediately.

For Toyota Vietnam, this was the highest sales month ever. Total sales of the company's models in January 2015 reached 4,262 vehicles, an increase of 35% (1,117 vehicles) compared to the same period last year.

Meanwhile, Kia vehicles from Truong Hai also sold well, reaching nearly 1,800 units in the first month of 2015 - the highest level since officially entering the Vietnamese market in 2007.

Ford Vietnam also announced that January 2015 was its best sales month ever, with 1,523 vehicles sold, a 60% increase compared to the same period last year. Hyundai Thanh Cong also reported selling over 1,000 vehicles.

Luxury car brands also sold well. In January 2015, Mercedes-Benz Vietnam sold more than 200 luxury cars of all types. Lexus also achieved its highest sales in over a year since its launch, with 107 vehicles delivered to customers.

As Tet approaches, some businesses are stepping up promotions to attract customers (Illustrative image).

Not only new cars but also used cars are in high demand. In the Pham Hung and Le Van Luong areas, used car dealerships are bustling with customers. Mr. Nguyen Hung, the owner of a used car showroom on Le Van Luong Street in Hanoi, said that for more than a month now, the number of customers looking to buy used cars has increased significantly.

With the advantage of lower upfront costs and immediate availability, unlike buying a new car which requires waiting, you can get a fairly new car for around 500 million VND. Prices are also not inflated. In addition, dealerships have prepared a large number of used cars in advance, so there is a wide variety for customers to choose from, Mr. Hung said.

According to a salesperson at a used car dealership, successful used car transactions in January and early February 2015 nearly doubled compared to previous months. Customers were primarily looking for cars in the price range of 300-700 million VND. The company sold more than 10 cars per day.

Another abundant source of supply is the import of completely assembled vehicles. According to the General Statistics Office, in January 2015, the number of imported completely assembled cars also increased sharply with over 10,000 units, reaching a value of 156 million USD, an increase of 220% in quantity and 144% in value compared to the same period last year.

According to businesses, demand for cars increased even more sharply at the beginning of February 2015, causing shortages and insufficient supply of many models.

For example, Toyota Vietnam's Vios model sold 1,106 units in January 2015, but demand remained very high, resulting in a shortage of vehicles for immediate delivery. Some customers reported that dealerships required them to pay an additional fee of up to 30 million VND to receive their vehicles sooner. Truong Hai is currently short of over 200 Mazda 3s, while Hyundai Thanh Cong has yet to deliver over 100 domestically assembled SantaFe vehicles. Ford Vietnam is also facing a shortage of Ranger pickup trucks for delivery to customers before the Lunar New Year.

However, overall, the automotive market, despite increasing demand, has seen relatively stable prices. In fact, car prices are quite competitive as manufacturers continuously launch new models.

For example, in the small car segment, at the end of December 2014, after Hyundai Thanh Cong sold 10,000 i10s in 2014, competitors also joined the fray. GM Vietnam launched the new Chevrolet Spark and restarted the race. Not to be outdone, Kia immediately added Morning Si versions, creating more choices for customers and driving prices down.

According to Vietnamnet