Motorbike dealers are deserted, purchasing power has decreased but Honda SH prices are still high

By the end of the first 6 months of 2024, the motorbike market has not shown any signs of growth again. Many large motorbike dealers in Ho Chi Minh City are still deserted, with only a few customers looking at motorbikes, and the atmosphere is extremely gloomy.

Records in Ho Chi Minh City show that only a few special Honda motorbike models still maintain a difference compared to the listed price, including: Honda SH, SH Mode and Air Blade,... Accordingly, the listed price of Honda SH125i is from 74-83.5 million VND but the actual price is 6.1-6.8 million VND higher, depending on the version.

The Honda SH160i has a listed price of 92.5-102.5 million VND but is still priced 6-7.3 million VND higher depending on the version, the actual price at dealers ranges from 98.5-109.8 million VND. In addition, the Honda Air Blade model is also being sold at a price 2.5-4.5 million VND higher than the listed price, the 125i version has an actual price of about 44.5-46 million VND and the 160i version has a price of about 58.5-61.5 million VND.

In addition to the above models, most of the remaining Honda models are discounted with gifts to stimulate demand. For example, Honda Vision currently only has a price range of 31.2-37.8 million VND, a reduction of 1-2.3 million compared to the listed price. Honda Lead has an actual selling price ranging from 38.8-42.3 million VND, a reduction of 1-1.2 million VND compared to the listed price.

Ms. Ngoc Diep (Head Honda District 11 sales staff) shared: "Compared to previous months, Honda motorbike prices in late July continued to decrease slightly and this is also the third consecutive month that my dealership has launched incentive and discount programs to stimulate consumer demand."

Not only Honda, reporters also recorded the lack of customers at some Yamaha dealerships in Ho Chi Minh City. Mr. Vinh Tuong, a salesman at a Yamaha dealership in Go Vap, complained: "Compared to the previous June, many Yamaha motorbike models now have better discount programs. However, the number of customers who actually want to buy a motorbike can still be counted on the fingers."

Currently, the price of Yamaha PG-1 is being discounted by 1-1.5 million VND, some dealers are generously giving away additional accessories to customers. The popular Yamaha Exciter clutch model is also priced from 48-52 million VND, with an additional repair voucher, which was very rare in the past.

The Yamaha Grande scooter model is currently discounted by 1.5-2 million VND, the actual price is around 52-56 million VND, depending on the version. Meanwhile, the Yamaha NVX is also discounted by 1-2.5 million VND, the actual price is only 53-57 million VND.

New and upgraded models are also expected to bring new vitality to the market. These include the Suzuki V-Strom 250 and Yamaha Lexi 155cc. In June, the SYM Proti 50cc will be launched. In early July, Honda added a new design to the classic Wave Alpha and a new color to the Super Cub C125.

According to the announcement of the Vietnam Association of Motorcycle Manufacturers (VAMM - including 5 members: Honda, Piaggio, Suzuki, SYM and Yamaha), in the second quarter of 2024, 603,127 motorbikes were sold, an increase of 2.41% over the same period in 2023 but a decrease of 618 vehicles compared to the previous quarter.

Currently, the motorbike market still shows no positive signs, especially as the seventh lunar month is approaching, many people are avoiding buying motorbikes so sales of companies may continue to decline sharply.