According to the reporter’s survey, by the end of February 2024, the motorcycle market in Vietnam is still in a downturn, with many models being heavily discounted by manufacturers and dealers to attract buyers and boost sales. Notably, even hot names like Honda SH, LEAD, and Vision have joined the race, with many models being offered by dealers at prices lower than the manufacturer’s suggested retail price by millions of Vietnamese dong.
Specifically, the standard version of Honda Vision currently has a price of 30 million Vietnamese dong, slightly higher than 100,000 dong compared to the beginning of January 2024, but still below the suggested price by over 1 million dong. The premium, special, and sport versions are priced at 33 million dong, 35 million dong, and 37 million dong, respectively. The classic version of Honda Vision has a slight increase of a few hundred thousand dong to 37.5 million dong.
At some dealerships, the Honda SH scooter models are offered at attractive prices as all versions of the SH series are almost reaching the suggested retail price. Specifically, the standard version of Honda SH 125i is sold by dealers for 75 million dong. The premium, special, and sport versions of Honda SH 125i are priced at 84 million dong, 85 million dong, and 85.5 million dong, respectively. Similarly, the premium and special versions of Honda SH 160i are currently priced at 103 million and 104 million dong.
Especially, the standard version of SH 160i and the sport version of SH 350i are experiencing a significant discount below the manufacturer’s suggested retail price. The standard version of SH 160i is priced at 92 million dong (lower by 490,000 dong compared to the suggested price), and the sport version of SH 350i with ABS is priced at 128 million dong (lower by 24.5 million dong).
Illustrative image.
SH Mode – once being sold for over 10 million dong difference, now only varies from 360,000 to nearly 1.2 million dong difference, even some dealers sell it at the suggested price. Currently, the standard version of SH Mode is priced at 57.5 million dong, and the premium, special, and sport versions are priced at 63 million dong, 64.5 million dong, and 65 million dong, respectively.
Similar to many other Honda models, the mid-range scooter model Air Blade is also being heavily discounted by many dealers. The standard version of Air Blade 160 ABS 2023 is priced at 56 million dong. The special and standard versions of Honda Air Blade 125 CBS 2023 are priced at 41.5 million dong and 40.5 million dong (below the highest suggested retail price by 1.6 million dong). The special version of Air Blade 160 ABS 2023 is priced higher than the manufacturer’s suggested price by 3.11 million dong, reaching 61 million dong.
As of now, the standard, premium, and special versions of Honda LEAD are priced at approximately 38-39 million dong, 40.5-41 million dong, and 41-42 million dong, respectively (varies by region). Compared to the suggested price, the selling price of Honda LEAD in February is lower by 550,000 to nearly 1.8 million dong.
The only underbone motorcycle model of Honda Vietnam, Winner X, is still struggling. The market price of Winner X ranges from 31 to 36 million dong, even lower. These prices are lower than the suggested retail price from the manufacturer by nearly 16 million dong.
Illustrative image.
Not standing outside the trend, Yamaha Vietnam dealerships also offer many attractive promotions for customers. Currently, Yamaha Exciter 155 VVA 2023 is discounted by about 5 million dong. In addition, Yamaha also provides a 2 million dong discount for customers purchasing Grande, Janus, Latte, Freego, and NVX scooters. For Suzuki, both Suzuki Raider and Suzuki Satria models have a discount of 3 to 5 million dong.
According to the sales report from the Vietnam Association of Motorcycle Manufacturers (VAMM), the total sales in 2023 reached 2,516,212 units, a 16.21% decrease compared to 2022. This is also the lowest level in nearly 6 years, even lower than the years of the Covid pandemic, 2019 and 2020.
