Recently, motorbikes at stores and agents have been in short supply, causing their price, especially motor scooters, to skyrocket from a few million to more than tens of VND millions/apiece compared to the manufacturer’s proposed price.

A customer went to the Honda Head Tien Thu 1 motorcycle dealer in Ngu Hanh Son District to buy a vehicle. Photo: VAN HOANG

Prices of motorbikes have jumped by tens of VND millions

For the time being, at a number of local authorized dealers and motorcycle shops, many types of motorbikes, especially scooters, are being quoted much different from the proposed price on the website of the manufacturer.

As shared by Ms Nguyen Thi Thuy, residing in Vinh Trung Ward, Thanh Khe District, although she had visited some stores, she still could not buy a Vision motor scooter since the price has been fairly high. Meanwhile, Nguyen Hoang Phi, resident of Man Thai Ward, Son Tra District, said that the price of motorbikes has been constantly increasing, causing many people to consider buying one at this time.

According to Mr Nguyen Huynh Ngoc Anh, Sales Team Leader of Honda Tien Thu Dealer, the price of Honda scooters such as Vision, Air Blade or SH  are always in a state of several tens of millions of dong different from the listed price. Therefore, dealers have adjusted, updated and changed the sales price to match the market price given by the manufacturer. According to some dealers, despite the sharp increase in the price of motor scooters, many of them also have no stock to sell.

Why are motorbike prices skyrocketing?

As shared by an employee at a Yamaha motorcycle dealer on Phan Chau Trinh street, before the Lunar New Year, popular Yamaha motor scooters such as NVX, FreeGo, and Grande were diverse in colours as well as models. However, in the past few months, some vehicles are out of stock due to a lack of many assembled components supply and high demand of people. Meanwhile, consumers who want to buy a motorbike must order early,  wait for the store or dealer to "hunt motorbikes" for them, and have to bear a large price difference.

In the same vein, at the Honda Quoc Tien - Ha Giang motorcycle dealer on 21 Ly Thai To Street, some motor scooters loved by consumers are almost absent as there are no longer available for sale. This pushes the business of the dealer into a tough time because it has to bear many costs to operate and maintain operations.

Mr Nguyen Ba Quoc, manager of Head Tien Thu 1 dealer located at 215 Ngu Hanh Son Streer, informed that the price of all products on the market has continuously risen due to the influence of the sharp increase in petrol. At the same time, the number of imported vehicles is low, and spare parts and assembly components are scarce due to the disruption of the global supply chain while the market demand is high. The dealer must increase the selling price on the basis of the general price of the market and the manufacturer’s selling price to maintain the operation of the store.

However, besides the high-priced motor scooters, manual transmission motorcycles such as  Honda Blade, and Honda RSX have diverse models and moderate prices compared to the listed price. In particular, the Honda Winner X model has a selling price of 36-38 million VND/one, lower than the proposed price of 10 VND million.

Demand for electric motorcycles increases

According to some electric vehicle shops, people's demand for electric motorcycles and electric bicycles has currently increased because of rising petrol prices and reasons for saving. Besides, the new school year is coming, so the demand for these types of vehicles has been more crowded than before. The price of popular electric bicycles is from 9 to 17 million VND. For the time being, their price increased by an average of 500,000 - 2 million VND / one due to increased transportation costs and in line with market prices.

Nearly 16,000 two-wheeled vehicles registered for new license plates

According to statistics from the Da Nang Traffic Police Department under Da Nang Police, from January 1 to June 14, there are 15,829 vehicles including motorcycles of all kinds registered for motor number plates, an increase of more than 3,047 newly registered vehicles compared to the first 6 months of 2021. Specifically, there are 1,058 two-wheeled vehicles with a displacement of less than 50cc, 14,364 vehicles with a displacement of 50-175cc, 162 vehicles with a displacement of over 175cc and 245 electric vehicles.

Reporting by VAN HOANG - CHIEN THANG- Translating by T.VY