The used motorcycle market in Ho Chi Minh City has recently surged as numerous shops simultaneously release inventory to meet year-end shopping demands.
Along streets densely populated with used motorcycle shops like Phan Đăng Lưu, Hoàng Văn Thụ, and Lê Đại Hành, the number of sales points has rapidly increased. While only a few dozen shops were open in previous months, the count has now soared to nearly a hundred. The number of bikes on display at each shop has also doubled, or even tripled, compared to usual.
Despite the proliferation of shops and bikes spilling onto sidewalks, customer footfall remains sparse. Mr. Bùi Văn Trung, who manages a used motorcycle shop on Hoàng Văn Thụ Street, notes that in previous years, customer traffic typically peaked at this time. However, this year, the shop sees very few visitors, most of whom only browse and inquire about prices before leaving.
Even bikes priced around 10 million VND are attracting few buyers.
According to Mr. Mười, owner of a used motorcycle shop on Phan Đăng Lưu Street, most current buyers are only interested in bikes priced under 10 million VND for temporary use. Higher-priced used bikes are selling very slowly.
He attributes this to buyers’ concerns that gasoline-powered motorcycles will quickly depreciate and become difficult to resell in the future, especially with news of restrictions on gasoline vehicles in the city center.
Used motorcycle shops in Ho Chi Minh City await customers.
A survey of multiple shops reveals significant price variations for the same bike models, differing by up to tens of millions of VND. For instance, used Air Blade bikes are priced between 8 and 15 million VND, depending on the year, condition, engine performance, and exterior appearance.
Overflowing used motorcycles for the Tet season.
Notably, listed prices at used motorcycle shops are often higher than actual transaction prices. Inexperienced buyers can easily overpay by several million VND. For example, a used Liberty bike listed at 19 million VND can be reduced by 1 million VND as soon as a customer expresses dissatisfaction with the price.
Further negotiation can lower the price by an additional 2–3 million VND, or even up to 5 million VND, while the shop’s initial purchase price was only around 8–9 million VND, or even 3–5 million VND for older models.
Abundant used bikes, but scarce customers.
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