Scooters sold below proposed price to stimulate consumer demand
Contrary to a year ago, a selection of models can now be procured by Vietnamese consumers at prices below those suggested by the manufacturers themselves.
In stark contrast to the same period last year, the going rate of numerous scooter models in the Vietnamese market has demonstrated remarkable steadiness.
Contrary to a year ago, a selection of models can now be procured by Vietnamese consumers at prices below those suggested by the manufacturers themselves.
The Honda Vision in HCM City was known to have hit a high of VNĐ60 million (US$2,531) around the June-July timeframe last year.
Fast forward a year, and the price trajectory of the Honda Vision in the marketplace has exhibited significant signs of moderation.
More specifically, even though Honda Việt Nam has recently bumped up the recommended retail price by a margin of VNĐ400,000-500,000 since the start of April, the current price differential of the Honda Vision at various dealerships ranges from VNĐ100,000 to VNĐ1.5 million.
Of particular note, the Honda Vision Standard and Premium variants are presently being sold at dealership counters at VNĐ31.79 million and VNĐ33.69 million, respectively.
Regarding the Sport version, the effective selling price stands at VNĐ37.89 million, amounting to a disparity of VNĐ800,000 when compared to the proposed amount.
Especially noteworthy is the Special version of Honda Vision, where the actual purchase price is at VNĐ36.29 million, marking a divergence of as much as VNĐ1.5 million from the suggested retail price by Honda Việt Nam.
Despite this, such price difference remains fairly palatable when juxtaposed with the circumstances a year prior.
Presently, the SH Mode universal scooter series sees a fairly sizeable price discrepancy amongst dealers.
The Sports variant of the SH Mode is being offered by dealerships at VNĐ70.59 million.
Despite witnessing a reduction of VNĐ900,000 relative to the start of June, this price still sits VNĐ5.6 million above the proposed price of VNĐ64.99 million put forth by Honda Việt Nam.
The Premium and Special versions of the Honda SH Mode are currently ticketed at VNĐ64.79 million and VNĐ66.29 million respectively, translating into a disparity of VNĐ1.5-1.8 million when contrasted with the recommended retail price.
The Standard variant of the SH Mode presents merely a VNĐ600,000 disparity.
About a quarter ago, a scarcity of stock rendered the procurement of the Honda Air Blade 160 at dealerships a challenging task for consumers.
Some locales that still hold stock of this model have announced a price divergence of VNĐ10 million, thereby positioning the Honda Air Blade 160 as a "hot" commodity within the Vietnamese motorcycle market.
However, currently, the price tag attached to the Honda Air Blade has considerably cooled, both in the 160 cc engine variation and the 125 cc engine versions.
Relative to the initial days of June, the selling price of the Honda Air Blade 160 has declined by VNĐ500,000-800,000, and is now aligned with the officially suggested price.
Likewise, the present selling price of the Honda Lead is also quite appealing as it is undercutting the maximum proposal by up to VNĐ2.5 million.
In particular, the disparity of VNĐ2.5 million pertains to the Premium version of this model, with dealerships currently offering it at just VNĐ39.99 million, rather than the listed price of VNĐ42.49 million.
The Standard version of Honda Lead is sold at VNĐ300,000 lower than the suggested retail price, while the Special version is also priced at VNĐ1.6 million lower at the dealers.
Like the Honda Lead, the scooter model in the same segment as the Yamaha Grande is also being sold at a lower price than the recommended price.
Currently, the Standard version of the Yamaha Grande is being offered for sale at VNĐ45 million, which is VNĐ1.9 million lower than the retail price of VNĐ46.9 million proposed by Yamaha Việt Nam.
Special and Limited versions of Yamaha Grande are also offered by dealers for VNĐ500,000 lower than listed.
Specifically, the Yamaha Grande Special edition is priced at VNĐ51 million, while the Limited version is priced at VNĐ52 million.
Meanwhile, all three versions of Yamaha Janus are priced from VNĐ600,000 to VNĐ800,000 lower than the price suggested by the manufacturers.
Supply rises, purchasing power falls
The recent fluctuations in the price of motor scooters on the Vietnamese market are likely heavily influenced by a surge in supply alongside declining purchasing power.
The most recent report from the General Statistics Office estimates that approximately 292,100 motorcycles have been manufactured in Việt Nam, marking an increase of nearly 4 per cent relative to the output of 281,300 vehicles reached in the preceding month.
From the start of the year, the total domestic motorcycle output in Việt Nam after five months is estimated to exceed 1.3 million units, indicative of a 7.5 per cent downturn compared to the same timeframe last year.
Conversely, a report from the Việt Nam Association of Motorcycle Manufacturers (VAMM) indicates that the combined sales of its five members in the initial quarter totalled 634,688 vehicles, representing a drop of almost 16 per cent compared to the same quarter of the previous year.
In the month of May alone, the motorcycle sales recorded by Honda Việt Nam numbered 142,580, exhibiting a 31.5 per cent dip compared to the figures amassed in April.
Furthermore, the VAMM's report disclosed that the cumulative sales achieved by its five members in the Vietnamese market in the initial quarter of the previous year stood at 753,571 vehicles, which subsequently declined to 655,433 vehicles in the subsequent quarter. — VNS
