Purchasing power decreases, motorbike prices 'cool down' after Tet
A series of motorbike models on the market have been reduced in price by distributors to stimulate demand in the context of people's demand for motorbikes gradually decreasing after the 2018 Lunar New Year.
Motorcycle dealerships are empty of customers as demand for motorbikes drops after the Lunar New Year holiday.
There is no longer the situation of motorbikes being “short of stock and selling at high prices” like before Tet. People’s demand for motorbikes has decreased sharply in the past two weeks, causing the shopping atmosphere at motorbike dealerships to become quiet. Sales have decreased, and some popular motorbike models have been heavily discounted by dealers from 300,000 VND to nearly 4 million VND.
Drought... after the showers
In contrast to the bustling and vibrant shopping atmosphere before the Lunar New Year 2018, in recent days, the number of customers coming to buy motorbikes at motorbike dealerships in Ho Chi Minh City has been gradually decreasing.
Demand for car purchases after Tet has dropped sharply, some car models are no longer "in short supply" as before. |
At an authorized Honda dealership (HEAD) on Nguyen Tat Thanh Street, District 4, Ho Chi Minh City, although it is still crowded with customers coming and going, the owner of this store said: "The majority of customers bring their cars for service and maintenance. While waiting, they stop by to look at the car to relieve boredom, but they do not really have a need to buy a car. Compared to the time before Tet, the market tends to decrease sharply in the months after Tet."
According to some motorbike shop owners in District 5, Ho Chi Minh City, the market changes in each period depending on consumer demand. The peak season falls about 2 months before Tet, when workers receive year-end bonuses and often need to buy vehicles to travel during Tet. This is also the time when manufacturers often launch new models or improved versions to increase sales. However, in the months after Tet, the market tends to slow down and often lasts until July. Therefore, sales of dealers often decrease right after Tet.
The actual selling price of Honda Air Blade has decreased slightly but is still higher than the listed price. |
Mr. HTD, a salesman at a Yamaha dealership on Nguyen Tri Phuong Street, District 5, said: “Before Tet, the dealership sold about 8-10 vehicles per day, but now it only sells 2-5 vehicles per day. The best-selling models are mainly the Exciter manual transmission, Janus scooters, and NVX 125/155.”
The sluggish situation also occurred at some Honda and Suzuki motorbike dealers in Ho Chi Minh City after the market had passed its peak season. People's demand for motorbikes tended to decrease gradually, the market was almost frozen at this stage, forcing dealers to reduce prices and apply promotional programs to stimulate demand.
Car prices "cool down"
According to a survey by Thanh Nien reporters, the selling prices of some Honda and Yamaha scooters and motorbikes are currently entering a period of decline after skyrocketing before Tet.
Honda SH 150i ABS/CBS is currently priced at dealers from 100 - 112 million VND |
The Honda SH 125i/150i model, which was in short supply before Tet and is known as the “king of price gouging” in the high-end scooter market, has been reduced in price by dealers since the beginning of March 2018. The selling price of the SH 150i ABS/CBS version is currently reduced by 1 - 4 million VND compared to the time before Tet.
Other models such as Honda Air Blade, SH mode are also slightly discounted by Honda HEADs in Binh Thanh District, District 5... from 150,000 VND to 1.5 million VND. In particular, the 10th anniversary Air Blade is sold by dealers for 49 million VND (including VAT), a decrease of 1 million VND compared to before Tet. In particular, scooter models such as Honda Vision, Lead and popular motorbikes such as Wave Alpha 110, Blade and Future... all keep their selling prices the same but dealers apply promotions and give gifts to customers who buy the car.
The Honda Winner manual clutch model continues to be distributed at a price of 38.5 - 39 million VND for the sport version, and the premium version is priced at 40 - 40.5 million VND. This price is 6 - 7 million VND lower than the manufacturer's listed price.
Yamaha Exciter manual transmission motorbike versions are discounted by 500,000 VND by dealers |
Meanwhile, most of Yamaha's current scooter models such as Janus, Grande... are discounted by dealers by about 500,000 VND compared to before Tet. At Yamaha QP dealer on Nguyen Tri Phuong street, versions of the Janus model are priced from 31.3 - 34.8 million VND including papers and license plates. A sales staff here said: "This price has been reduced by 500,000 VND compared to before Tet, and if papers are not included, the manufacturer's listed price will be applied." Similar to Janus, compared to before Tet, the actual selling price of the Yamaha Exciter manual clutch model is reduced by 500,000 VND by dealers.
Currently, some popular models such as Honda SH, Air Blade or Yamaha Exciter are no longer in short supply because the peak season has passed and the output of vehicles from the factory to the dealers has stabilized. In the gloomy context of the market, the trend of vehicle price reduction is expected to continue in the near future, this is considered an opportunity for customers who want to change models or buy motorbikes for daily commuting.