The rental market for cars has become boisterous in Viet Nam with the approach of the Lunar New Year (Tet) holiday. Even as rental prices have risen two or three times their normal rate, demand remains high, leaving many customers without a car during the holiday. Thanh Vinh, a resident in District 3, HCM City, told plo.vn that his office would stop working late this Tet, so he decided to rent a car to visit his hometown in the Tay Nguyen (Central Highlands) province of Lam Dong, along with his family. “Renting a car for Tet is an expensive affair, but passenger cars are cramped, while my family comprises five members, including children, so I want to rent a car to drive home,” said Vinh. However, Vinh said that despite approaching many dealers, he was unable to find a car that could accommodate four to seven passengers. Finally, he was able to rent a car with the support of his friend, although the price was steep at VND1.8 million per day. Vinh is one of many trying to rent a car for Tet. Many car agents have reportedly hiked rental prices by 50 to 60 per cent, up from VND900,000-VND1.2 million to VND1.5-VND1.7 million per day. Some agents are even asking double the rental price on normal days. For example, the rental price of a four-seat sedan, such as Kia Morning or Hyundai Grand i10, is some VND10 to VND12 million for 10 days. Although the rental price is high,… [Read full story]
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