Scooter Prices Soar Post-Tet, Vision Nears 40 Million VND Threshold

Scooter prices rise again post-Tet due to limited supply. Photo: Phuc Hau.

Post-Tet, there has been a slight fluctuation in the selling prices of many scooter models in the Vietnamese market.

Scooter Price Hike

At a Honda motorcycle dealership in District 4, Ho Chi Minh City, Zing observed a moderate flow of customers.

When asked about the Honda Vision, a sales consultant confirmed a minor price adjustment post-Tet.

“Currently, the selling price of the Vision ranges from VND 31.49 million to VND 39.59 million for the different versions. We have a good stock of vehicles in various colors and models for customers to choose from,” the consultant affirmed.

Specifically, the standard version of the Honda Vision is priced at VND 31.49 million. The premium version is offered at VND 32.69 million, while the special edition Vision is priced at VND 33.59 million.

For unique color combinations like green-black in the special edition or red-black in the premium version, customers have to pay an additional VND 1.4 million to VND 1.7 million.

The Honda Vision Sport version is approaching the VND 40 million mark. Photo: Boi Ha.

The recently launched Sport version of the Honda Vision is currently priced at VND 39.59 million at this dealership. The staff mentioned that they have a good number of units in stock and are ready to deliver to customers immediately.

At this dealership, the SH Mode, across its standard to special editions, is priced between VND 54.79 million and VND 67.69 million. The Sport version of the SH Mode is offered at nearly VND 72 million, a VND 7.5 million premium over the manufacturer’s suggested retail price.

The Air Blade 125 cc versions are priced between VND 41.29 million and VND 42.69 million. The 160 cc variant of the Honda Air Blade is available at this dealership for VND 56.29 million to VND 59.59 million.

When asked about the price trend for scooters in the post-Tet period, the sales staff predicted that limited supply will be a factor in preventing motorcycle prices from dropping in the near future.

“It is likely that scooter prices will continue to rise in the next few weeks,” the salesperson said.

For Yamaha scooters that are currently sold in the Vietnamese market, there is still a price markup, but it is not as significant as at Honda dealerships.

Specifically, different versions of the Yamaha Janus are priced between VND 29.4 million and VND 33.2 million at dealerships, only slightly higher than the prices listed on the company’s website.

The Limited version of the new Yamaha Grande is offered at VND 53.7 million, while the special edition is priced at VND 52.3 million at dealerships.

Yamaha scooter prices are not too far off from the manufacturer’s suggested retail price. Photo: Phuc Hau.

Notably, the Yamaha Freego scooter has seen a significant price increase. Despite a suggested retail price of only VND 34.4 million, a Yamaha dealership in Ho Chi Minh City is offering this model at VND 40.6 million.

New Motorcycle Supply Decreases Significantly

According to the General Statistics Office, in the first month of 2023, the Vietnamese motorcycle market is estimated to have received approximately 228,400 new domestically produced and assembled vehicles.

Compared to the output of 354,000 motorcycles achieved in the last month of 2022, this figure represents a 35.5% drop, or about 125,600 fewer vehicles. When compared to the same period last year, the number of domestically produced motorcycles estimated for this first month also showed a 32.1% decrease.

Going back to the period of June-July 2022, the Vietnamese motorcycle market only received approximately 208,000 new domestically produced and assembled vehicles per month. The limited supply during this period was considered the main reason for the sharp increase in scooter prices in the country, with the on-the-road price of the Honda Vision reaching nearly VND 60 million at the end of June.

However, the decrease in motorcycle supply in the first month of the year is likely temporary, as January also included the long holiday period of the Tet festival.

In February 2022, the Tet holiday overlapped with the first week of the month, which also affected the domestic motorcycle supply in Vietnam. During this period, the country recorded only 204,500 domestically produced and assembled vehicles, the lowest figure for the whole of 2022.

Although limited supply may push scooter prices upward in the near future, this situation is unlikely to last long, and the motorcycle market will soon return to a stable state.

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