Scooters in Vietnam Market Sold Below Manufacturer’s Suggested Price to Boost Consumer Demand
The Vietnamese market for scooters has seen a significant shift in pricing strategies, with many models now being sold at prices below those recommended by manufacturers. This stands in stark contrast to the same period last year when prices were more consistent. One particular example is the Honda Vision, which last year reached a high of VND60 million (US$2,531) in HCM City around June-July. However, this year, the price trajectory of the Honda Vision has shown signs of moderation.
While Honda Vietnam has recently raised the recommended retail price by VND400,000-500,000, the current price at various dealerships ranges from VND100,000 to VND1.5 million below the suggested price. For instance, the Honda Vision Standard and Premium variants are currently being sold at VNĐ31.79 million and VNĐ33.69 million, respectively. As for the Sport version, the effective selling price is VNĐ800,000 lower than the proposed amount.
Another notable example is the Honda SH Mode universal scooter series, which has a noticeable price discrepancy among dealers. The Sports variant is being offered at VNĐ70.59 million, which is VNĐ5.6 million higher than the proposed price by Honda Vietnam. The Premium and Special versions are also being sold at a higher price than suggested, with a disparity of VNĐ1.5-1.8 million.
The Honda Air Blade 160 is another model that has seen fluctuations in pricing. Previously, a scarcity of stock made it difficult for consumers to purchase this model, resulting in dealers announcing a price divergence of VND10 million. However, the price of the Honda Air Blade has since cooled down and is now aligned with the suggested price.
Similarly, the Honda Lead and Yamaha Grande models are also being sold at lower prices than recommended. The price discrepancies range from VNĐ300,000 to VNĐ2.5 million, making these scooters more appealing to consumers.
The recent fluctuations in scooter prices can be attributed to an increase in supply combined with declining purchasing power. According to the General Statistics Office, motorcycle manufacturing in Vietnam has increased by almost 4% compared to the previous month. However, motorcycle sales have dropped by nearly 16% in the same period.
Despite the price differences, it is worth noting that these disparities are relatively smaller compared to the circumstances a year ago. Overall, the current pricing strategies aim to stimulate consumer demand in the Vietnamese motorcycle market.
In conclusion, the Vietnamese market for scooters has witnessed a trend of selling below the manufacturer’s suggested price. This strategy is aimed at boosting consumer demand amidst an increase in supply and a decline in purchasing power. While prices have fluctuated, the disparities remain relatively palatable compared to the previous year. The scooter market in Vietnam continues to adapt to changing conditions and aims to cater to consumer preferences by offering competitive prices.
