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Scooter prices on the rise, despite stable supply
The demand for scooters has not increased, but their prices have been increasing dramatically in recent days. Analysts say that the scooter market is witnessing a ‘Virtual fever attack’.
Honda’s LEAD, for example, has seen its price soar by VND8-10mil/motorbike. Meanwhile, Honda Vietnam has affirmed that the manufacturer’s supply remains stable with 12,500 LEADs churned out in April 2009 alone. The manufacturer said that in the first three months of the year, the number of motorbikes it launched onto the market was 116% of that of the same period of last year.
Supply profuse, prices up
The prices of motorbikes offered by Cho Lon Motorbike Centre in district 5 of HCM City have been increasing dramatically over the last few days. The two models which have seen the sharpest price increases are Air Blade, selling at VND39mil/motorbike, up by VND2mil over the beginning of April, and LEAD, selling at VND37mil, up by VND4mil.
Meanwhile, a HEAD (Honda Exclusive Authorised Dealer) on Nguyen Trai road in district 1 of HCM City is quoting prices VND200,000/motorbike higher than those quoted by other motorbike shops.
Air Blade motorbikes are also being offered at VND38.9mil at minimum. Meanwhile, the manufacturer’s suggested retail price is VND28.5mil.
HEADs and motorbike shops have attributed the sharp price increases to short supply. Meanwhile, Honda Vietnam affirms that it launched 365,000 motorbikes onto the market in the first three months of the year, up by 116% over the same period of last year, 30% of which were scooters.
According to Yashuhiro Imazato, Director of Honda Vietnam’s HCM City, in the first three months of the year, Honda Vietnam provided 319,744 motorbikes to HEADs, while in April 2009, it churned out 12,500 LEADs.
Imports unsalable due to high dollar prices
In HCM City, the prices of imported scooters with cylinder capacities of 125 cc and higher have been increasing sharply. The price increases have been explained by the fact that the luxury tax on scooters was raised by 20% on April 1, 2009. However, VietNamNet’s reporters have found out that the prices in US$ have not increased considerably.
At scooter markets on Ly Tu Trong, Phan Dang Luu and the Crossroads of Cach Mang Thang Tam-Ly Tu Trong-Nguyen Trai-Nguyen Thai Hoc, import prices have increased by $100-200 only in comparison with the beginning of the year.
Honda’s PS is now selling at $6,700, up by $200 over pre-Tet days. As such, if paying in US$, buyers will not have to pay much higher, but if paying in VND, they will have to pay nearly VND10mil more than pre-Tet days.
According to Nguyen The Quan, the owner of The Quan Motorbike Shop on Ly Tu Trong in district 1, the dollar price has been on the increase so people do not want to purchase motorbikes these days.
Quan said that when the dollar price was low, he could sell ten SH and PS a month, both of which are priced at over $7,000. The prices have decreased in comparison with two years ago, but now Quan is selling 2-3 motorbikes a month.
Currently, the favourite model in HCM City is the Thai-made Air Blade, which has the price of VND54mil/unit, up by VND2mil over pre-Tet days.
Scooter shops complain that as the dollar price has been increasing, scooters’ prices have become VND5-10mil/unit more expensive, thus making sales slower. Many of the shops have shifted to sell popular models in order to attract more customers.
Ca Hao
vietnamnet
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