The Ultimate Scooter Experience: Stocked and Stacked, with Prices Slashed for the Lunar New Year

Scooter prices are cooling down, with significant drops ahead of the Lunar New Year. Photo by: Boi Ha.

The Lunar New Year is approaching, and it is also the time when motorcycle sales are likely to increase due to the shopping demand of consumers. Thanks to the abundant supply in the last months of 2022, the number of motorcycles in general and scooters in particular at this time are filling up the warehouses, and the selling prices are also quite reasonable.

Abundant supply, stable prices

Present at a Honda motorcycle store in District 11, Ho Chi Minh City, the reporter recorded a large number of Vision scooters available, diverse in colors and versions. This store currently only has the 2023 Honda Vision line, which was recently introduced by Honda.

“Vision currently has a lot of stock. Only the gray-black color option of the Sport version is temporarily out of stock,” said a store employee.

Also, at this store, the actual selling prices of the 2023 Honda Vision versions are quite reasonable. Specifically, the Luxury version costs VND 35.6 million, and the Special version is priced at VND 36.6 million.

For the Sport version of the Honda Vision, which has just been launched, the actual selling price at the store is VND 40.1 million, a difference of nearly VND 3.5 million compared to the listed price of Honda Vietnam.

The actual price of the Honda Vision scooter line is only a few million dong higher than the official price. Photo by: Boi Ha.

Here, the Vario 160 is also present with prices ranging from VND 52 million to a maximum of VND 56.8 million for the Sport version. Thus, this newly launched model still has a quite stable price if compared to the price difference of a few million dong of the Honda Vision.

Although it has to bear the same price increase as the Honda Vision, the Honda Air Blade scooter also only recorded a maximum difference of VND 2.6 million in the 125 cc versions. In the variant with a larger engine capacity, the selling price of the Air Blade 160 cc at dealers is fluctuating from VND 58 million to VND 59.9 million depending on the version.

At a Yamaha store in District 7, Ho Chi Minh City, the Janus and Grande models are also available in large quantities. Sales staff revealed that the number of customers coming to the store in the recent period has increased significantly.

“The price of the Janus Limited version is very good, currently at only VND 33.7 million,” said the employee.

Thus, the actual selling price of this once-scarce scooter model has dropped to near the official price. Compared to the suggested price by Yamaha Vietnam on its homepage, the market price of Janus is only VND 600,000 different.

As for the Grande, the selling price of this scooter model also recorded a significant drop compared to many months ago. Specifically, in the early days of the new year, consumers can buy the Yamaha Grande with prices ranging from VND 47 million to VND 55.1 million depending on the version.

Yamaha’s Grande and Janus scooters are also reasonably priced. Photo by: Boi Ha.

Compared to the middle of last year, the actual price of the Grande has come closer to the suggested price, with only a difference of VND 200,000 in the Standard version and only a significant price increase in the Limited version.

Currently, Honda and Yamaha customers are offered a lucky draw program by the two manufacturers, with valuable prizes such as the Honda SH 350i or SJC gold.

Abundant supply, strong demand

The latest data released by the General Statistics Office shows that the number of domestically produced motorcycles in December 2022 is estimated at 351,100 units. Although there was a slight decrease of 0.8% compared to November (353,900 units), the number of domestically produced motorcycles in Vietnam increased by 4.4% over the same period in 2021.

In the fourth quarter of 2022 alone, it is estimated that the country produced and assembled more than 1 million motorcycles, up 33.3% over the third quarter of 2022 and up 19.8% over the same period in 2021.

Thanks to this, the number of domestically produced motorcycles in Vietnam last year is estimated to have exceeded 3.3 million units, marking a growth rate of 9.9% over the previous year.

The large number of motorcycles supplied to the market in the second half of 2022 has helped stabilize the selling prices of some motorcycle models, especially scooters.

Previously, in the period of June-July, the Honda Vision’s on-the-road price once peaked at VND 60 million in some areas. Yamaha Janus and Grande also fell into the same situation when they were priced at VND 7-8 million higher.

Data released by the Vietnam Motorcycle Manufacturers Association (VAMM) shows that the total sales of its members in the first three quarters of 2022 reached more than 2.17 million units. On average, Vietnamese people buy nearly 8,000 motorcycles every day.

Thus, the sales of VAMM members in 2022 will almost certainly surpass the figure in the previous report. According to Zing’s estimates, the 2022 sales of the Vietnamese motorcycle market could reach nearly 2.9 million units or even higher.

After 12 months of 2021, the total sales of the 5 VAMM members reached nearly 2.5 million units. This figure for 2020 was more than 2.7 million units, while the sales peak of nearly 3.4 million units was set in 2018.

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