UNDERPRICED HONDA LEAD
The scooter market is witnessing a fierce race, even popular scooters like Honda Vision, Air Blade, and SH. These once “jumbled” models have now been reduced to very attractive prices in the Vietnamese market.
At authorized Honda dealers in Hanoi (HEAD), Honda Vision is being sold at attractive prices. As a quick reference, the Standard version is currently priced at 31.8 million VND, the Premium version is 33 million VND, the Special version is 35 million VND, and the Sport version is 37 million VND. Compared to the previous month, the price of Honda Vision has decreased from 200,000 to 1 million VND. Compared to the same period last year, the price of the scooter has decreased from 2.5 to 3.5 million VND.
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Similarly, with Honda Air Blade, the Standard version of the Air Blade 160 ABS is priced at only 56 million VND, 690,000 VND lower than the suggested price; the Special version of the Air Blade 125 CBS is priced at 41.5 million VND, 1.69 million VND lower; and the Standard version of the Air Blade 125 CBS is priced at 40.5 million VND.
Honda SH 125i and SH 160i also have attractive offers. The Sport version of the Honda SH 125i is priced at only 85.5 million VND, 500,000 VND lower than the previous month. The other versions of the SH 125i and SH 160i maintain their selling prices, while the Standard version of the SH 160i is reduced by an additional 1 million VND to 92 million VND, and the Sport version of the SH 160i sees the deepest reductions with a decrease of 4 million VND to 104 million VND.
In addition, Honda LEAD is also being sold below the suggested price. The Standard version is currently priced at 38 million VND, while the Premium and Special versions are priced at 41 million VND and 42 million VND respectively, 700,000 VND to 1.5 million VND lower than the suggested prices.
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With ample supply and reduced purchasing power, the motorcycle market is currently being pushed to lower prices to stimulate demand. This is seen as a good opportunity for consumers to buy suitable scooters.
TOYOTA VIOS FROM 458 MILLION VND
Not only the motorcycle market, but the Vietnamese car market is also witnessing fierce competition. Price reduction strategies are being widely applied to attract customers and maintain sales.
Starting from March 1, 2024, Toyota Vietnam has adjusted the prices of two models that contribute significantly to their sales, Vios and Veloz Cross. With extremely attractive price reductions, Vios takes the lead with a reduction of up to 47 million VND: The highest-end version of Vios is currently priced at 545 million VND, significantly lower than its competitor (Honda City – 609 million VND) and comparable to one of the best-selling models (Hyundai Accent – 542 million VND); the Standard version of Vios has also become very attractive with a price of only 458 million VND.
Not only Vios, Veloz Cross is also equally attractive with a reduction of up to 38 million VND. The starting price of this model after the reduction is only 638 million VND.
Toyota Vios is priced from 458 million VND.
For the 2023 Hyundai Accent with VIN numbers, some dealers have chosen to offer discounts of up to 45 million VND or 100% registration fee exemption for customers. The price of the Standard version of the Hyundai Accent with a 2023 VIN is currently lower than other A-segment models like the Kia Morning or the Toyota Wigo.
Another discounted model is the Hyundai Grand i10. Some dealers are implementing programs offering discounts of up to 20-30 million VND for customers depending on the model they choose.
Honda Vietnam also announced that they will be implementing attractive promotions to give customers more opportunities to experience their models from March 05 to March 31, 2024.
Honda is offering attractive discounts for their key models produced in 2023 (VIN2023): Honda CR-V L/G and Honda City. The two L/G versions have a 100% registration fee exemption and an additional 30 million VND in cash, totaling a reduction of nearly 90 million VND.
Honda City RS has a 50% registration fee exemption, equivalent to more than 30 million VND. This will be the last opportunity to receive special support with limited quantities for the 2023 model year.
Honda City RS version.
Not to be left behind, Nissan is also offering special promotions in February 2024. Customers who buy the Nissan Almera, Navara, and Kicks models will enjoy a 100% registration fee exemption and receive a gift of SJC gold.
The sharp decline in the car market’s sales in the first month of 2024 is believed to be due to low consumer demand caused by the impact of challenging economic conditions.
