Yamaha PG-1 Revives History: A Glimpse at Honda Reveals Why Price Hikes of Tens of Millions Still Drive Buyers in Droves

Not long ago, Yamaha Vietnam officially introduced new, premium versions of the PG-1 model. Almost immediately, the actual selling price at dealerships surpassed the manufacturer’s suggested retail price.

This surge stems from heightened consumer demand, reminiscent of the model’s initial launch in Vietnam in late 2023. At that time, soaring demand pushed prices nearly 10 million VND higher before they plummeted to a low—2 to 3 million VND below the suggested price—about six months later.

Currently, Yamaha lists the PG-1 at 30.9 million VND for the Standard version, 34.36 million VND for the Premium version, and 34.85 million VND for the Limited Edition. However, some dealerships are selling the Premium version for nearly 39 million VND, with immediate delivery guaranteed—a markup of over 4 million VND.

The higher selling price of the Yamaha PG-1 compared to the manufacturer’s suggested price can be attributed to the supply-demand imbalance: demand exceeds the available supply.

This high demand can be understood by examining the broader market landscape.

With the PG-1, Yamaha has carved out a unique niche in Vietnam’s entry-level motorcycle segment. Consumers no longer need to spend nearly 100 million VND on high-displacement bikes to enjoy a “playful” ride.

The Yamaha PG-1 appeals to consumers, especially young adventurers, with its Scrambler-style design—a classic off-road motorcycle aesthetic that’s both distinctive and visually appealing. Yamaha also offers three accessory kits, allowing for diverse customization options.

Additionally, the Yamaha PG-1’s technical specifications make it exceptionally user-friendly. Its compact size and lightweight construction cater to riders of all sizes, while the semi-automatic transmission is ideal for those unfamiliar with manual clutches.

Years later, the Yamaha PG-1 remains the only domestically assembled and officially distributed model in its class, making it highly affordable—priced comparably to premium commuter bikes like the Honda Future 125 or Yamaha Jupiter Finn.

Its affordability, eye-catching design, high customization potential, and ease of use have solidified the Yamaha PG-1 as a top choice for consumers.

However, a broader look at Vietnam’s motorcycle market reveals another reason for Yamaha’s dominance in this niche.

Honda’s CT125, a similar Scrambler-style model in the same segment, is not officially distributed in Vietnam. Some units have been imported and sold at reference prices of up to 170 million VND.

If Honda were to import and officially distribute the CT125, its price could still reach 80 to 90 million VND—similar to the Super Cub C125 imported from Thailand. The CT125’s price could only drop if Honda assembles it domestically.

However, domestic assembly is a complex equation involving sales volume, production capacity, supply chains, and labor to ensure competitive pricing in the market.