HCM CITY — The domestic motorbike market could go into a long period of gloom with prices forecast to decrease further in the coming months, the Nguoi Lao Dong (The Labourer) newspaper reported on Saturday.
Shops selling motorbikes on HCM City's Ly Tu Trong, Nguyen Tri Phuong, An Duong Vuong and Phan Dang Luu streets had a sorry look about them these days as they waited for customers, the report said.
Leading manufacturers like Honda, Yamaha and Suzuki have launched many new models like New Wave, Nouvo "Fifth Generation" and Hayate 125, offering more options, and there are many new imported motorbikes from Thailand and China as well, but sales have been slow.
Tran Dinh Phuc, owner of a motorbike shop on Nguyen Tri Phuong-An Duong Vuong Street, said that the shops were currently competing with each other on price and offering various promotions, however the discounts had failed to attract enough customers.
The difficult economic situation that has forced customers to tighten their belts and the failure to find why many motorbikes and cars have burst into flames and been destroyed over the last year or so have combined to suppress sales, industry insiders say.
Since the beginning of this year, prices of both homemade and imported bikes have decreased by between VND500,000 (US$24) and VND1 million ($48) per unit. For instance, the price of the Lead motorbike has gone down by VND500,000 ($24) to VND37 million ($1,778), while Vision is priced at VND30 million ($1,442), down VND1 million ($48).
Meanwhile, the Vespa LX125, made by Piaggio Viet Nam, now sells for VND72 million ($3,461) per unit, a decrease of VND3 million ($144).
The prices of some imported motorbikes, including the SH, have also decreased by $300 to $8,000-8,400 per unit, while Air Blade Thailand can be purchased for VND74 million ($3,557), a drop of VND7 million ($336.5).
The PCX Thailand and LX150, imported from Italy, now cost VND85 million ($4,086) and VND82 million ($3,942), a decrease of VND2 million ($96) and nearly VND5 million ($240.3), respectively. — VNS