Scooter Prices Continue to Rise

Scooter prices in Vietnam remain significantly higher than the official MSRP. Photo: Bối Hạ.

According to the latest report from the General Statistics Office of Vietnam, the country’s domestic motorcycle production and assembly reached an estimated 252,400 units in February, a 5.25% increase compared to the output recorded in the first month of 2023.

Despite Vietnamese motorcycle manufacturers ramping up production after the Tet holiday, prices for popular scooter models have not shown any signs of cooling down.

Honda Vision Price Increase

Zing’s survey reveals that, except for the Sports version, the dealer prices for the remaining Honda Vision models have increased compared to mid-February.

Specifically, the Special edition of the Honda Vision currently retails for VND 38.49 million, while just two weeks ago, the price of this scooter was VND 35.99 million.

The price of the Honda Vision’s Luxury version has also been adjusted, increasing by VND 1.4 million compared to mid-February. Currently, the Honda Vision Luxury model is priced at VND 36.29 million at dealerships in Ho Chi Minh City, while the Sports version is offered at VND 39.99 million.

Honda Vision prices are showing signs of increasing again, despite a gradual improvement in supply. Photo: Bối Hạ.

Notably, the Standard version of Vietnam’s best-selling scooter has also seen a price fluctuation. As a result, customers opting for the Vision Standard model have to pay VND 33.39 million, excluding taxes and on-road costs.

“The price of the Honda Vision at this point is only for reference. Depending on the time and dealer, there will be different policies for customers buying the scooter,” a dealership employee revealed.

At this dealership, the Honda Vision Standard model is only available in black. For the Special version, customers can only choose the green-black color option.

In addition to the Honda Vision, the SH Mode’s market price has also increased significantly in recent times. Currently, the SH Mode Sports version is priced at VND 75.79 million, VND 1.6 million higher than two weeks ago and a substantial VND 11.3 million more than the manufacturer’s suggested retail price.

The remaining versions of the SH Mode, including the Standard, Special, and Luxury editions, are also selling at prices VND 1.4-3 million higher than the rates proposed by the manufacturer.

The Honda Air Blade is currently priced at VND 44.39-45.29 million, depending on the version. Meanwhile, the Honda Vario’s official prices range from VND 49.19-55.79 million at dealerships.

Yamaha Scooters Prices Remain Stable

According to Zing’s survey, Yamaha Janus scooter prices have remained relatively stable compared to mid-February.

Only the Standard version of the Janus has seen a slight increase of VND 300,000, reaching VND 28.48 million. The prices of the other two versions of the Janus, the Special and Limited editions, remain unchanged at VND 32.28 million and VND 32.76 million, respectively.

On the other hand, the Yamaha Grande’s Standard and Special versions have witnessed a price decrease of VND 300,000-800,000 compared to mid-February.

The Limited edition of the Grande, however, is offered at VND 53.1 million at dealerships, which is VND 1.2 million higher than the manufacturer’s suggested retail price.

Yamaha scooter prices have been relatively stable. Photo: Phúc Hậu.

“The prices are quite stable now due to improved supply. We’ve had many customers coming in to inquire and purchase scooters in recent days,” a dealership employee shared.

Compared to Honda scooters, Yamaha scooter prices in Vietnam are currently not significantly higher than the MSRP.

However, in mid-2022, the market price of the Yamaha Janus was VND 8.4 million higher than the MSRP, while the Yamaha Grande was sold at a premium of VND 6.5-7.1 million.

Motorcycle Supply Recovers After Tet Holiday

Looking back to that period, Vietnam’s motorcycle market experienced a severe shortage of supply. The months of June and July 2022 saw domestic motorcycle production struggling to surpass 209,000 units per month.

This situation significantly impacted market prices for many models in Vietnam, especially scooters.

At the peak in early July 2022, the on-the-road price of the Honda Vision reached VND 60 million, but customers still had to wait for an extended period to receive their vehicles due to supply constraints.

In the early months of this year, in addition to the total motorcycle output reaching an estimated 492,200 units according to the General Statistics Office, Vietnam also completed the import of motorcycles and components and accessories worth over $305 million.

At present, it is unclear how the motorcycle supply situation will evolve and what impact this factor will have on the overall sales of Vietnam’s motorcycle industry in the remaining months of 2023.

According to a report by the Vietnam Association of Motorcycle Manufacturers (VAMM), motorcycle sales in Vietnam in 2022 exceeded 3 million units. On average, more than 8,200 motorcycles were sold every day in 2022.

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Scooter Sales Slump, But Prices Stay Sky-High.

The Vietnamese market witnessed a significant dip in motorcycle sales, specifically scooters, in the first month of 2023.

Scooters remain unavailable at numerous dealerships, despite having the funds.

Due to the high demand, there is currently a shortage of many scooter models, leading to a surge in prices. This has left many customers in a tough position as they are eager to make a purchase but are facing challenges in finding scooters that are available for sale.