The Scooter That Refuses to Budge: Unyielding Prices Despite Slow Sales.

Sales of Honda’s scooter models remain high, but prices are not showing signs of decreasing. Photo: Boi Ha

Honda Vietnam’s sales report for February shows that the Japanese brand sold 140,669 motorcycles in the Vietnamese market, a 36.8% decrease compared to the previous month and a 4% decrease year-on-year.

Despite being Honda’s best-selling scooter model, the Honda Vision’s sales also decreased by 34.9% compared to the previous month, although it was 7.1% higher than the same period last year.

Prices Remain High

According to Zing‘s survey, the actual selling price of the Honda Vision at dealerships currently ranges from VND 33.39 million to VND 39.99 million, depending on the version.

Compared to the beginning of March, only the Premium version of the Honda Vision has seen a slight decrease in price by VND 500,000. The remaining versions, including the Standard, Special, and Sports editions, have maintained their prices at dealerships, at VND 33.39 million, VND 38.49 million, and VND 39.99 million, respectively.

When compared to the manufacturer’s suggested retail price, the Honda Vision is being sold at a premium of between VND 2.1 million and VND 4.1 million at dealerships. The highest premium is for the Special version, while the Sports version, despite being offered at almost VND 40 million, has a premium of only VND 3.4 million.

Honda Vision’s sales have decreased in the early months of the year. Photo: Phuc Hau

“The actual selling price at dealerships may vary and is only valid at the time of purchase”, said a sales representative.

Another Honda scooter model, the Air Blade 125, has seen a decrease in market prices. Specifically, the actual selling price of the Honda Air Blade 125 at a dealership in Ho Chi Minh City is approaching the manufacturer’s suggested retail price, with a difference of less than VND 400,000.

Currently, the Standard version of the Honda Air Blade 125 is being offered at VND 42.49 million, which is VND 400,000 higher than the suggested retail price. The Special version is priced at VND 43.39 million, only VND 100,000 higher than the suggested retail price.

Similar to recent weeks, the Honda Air Blade 160 remains a challenging model to purchase as most dealerships report having no stock available.

“At the moment, our dealership does not have any Air Blade 160 models in stock, and it is unclear when we will have more,” said a sales representative in a conversation with Zing.

For the Honda SH Mode, the actual selling prices of the different versions at dealerships are VND 6.81 million to VND 21.81 million higher than the suggested retail prices. The Sports version of the SH Mode, for example, has an actual selling price of VND 86.3 million, excluding on-road costs.

Yamaha Scooters Show Stable Prices

During the same period, the actual selling prices of Yamaha scooter models in Vietnam have not seen much change.

In a conversation with Zing, a sales representative from a Yamaha motorcycle dealership in Ho Chi Minh City stated that prices have remained stable since the beginning of March.

Yamaha’s scooter models have shown stable prices. Photo: Phuc Hau

Specifically, the Yamaha Janus Standard, Special, and Limited versions are priced at VND 28.48 million, VND 32.28 million, and VND 32.76 million, respectively.

Compared to Yamaha’s suggested retail prices in Vietnam, the actual prices of the Janus models at dealerships are currently lower by approximately VND 320,000 to VND 520,000.

Meanwhile, the Standard version of the Yamaha Grande is being sold at the suggested retail price, while the Special and Limited versions are offered at VND 52.76 million and VND 53.1 million, respectively, which is VND 1.2 million to VND 1.56 million higher than the suggested retail prices.

Motorcycle Supply is Stabilizing

According to a report by the General Statistics Office, Vietnam’s domestic motorcycle production in February was estimated at 252,400 units, indicating a slight recovery in production after a decrease in January.

Earlier, in the first month of the year, Vietnam’s domestic motorcycle output reached 239,800 units, a significant drop from the 354,000 units produced in December 2022.

Last year, Vietnam’s total domestic motorcycle production exceeded 3.32 million units, contributing to the total sales of the members of the Vietnam Automobile Manufacturers’ Association (VAMM) surpassing 3 million units.

As a result, 2022 marked the fifth time in the last seven years that Vietnam’s motorcycle market reached the 3-million-unit sales milestone.

Previously, sales data from VAMM members showed that the Vietnamese motorcycle market sold over 3 million units during the period of 2016-2019, with a sales record of nearly 3.4 million units in 2018.

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