Increasing Opportunities In Vietnam’s Market For High-Engine Displacement Motorbikes
Motorbike models with high-engine displacement were recently launched in the Vietnam market and generated excellent reception from riders in spite of the high import prices. The import tax on high-engine displacement motorbikes is about two or three times higher than global prices but it will be reduced systematically and abolished within the next eight years so that the prices of motorbikes will be reduced in the Vietnamese market.
The leader in the high-engine displacement motorbike models is Honda Vietnam with the SH 300i imported from Italy. Its current price is US$10,880 which is almost the price of a small sedan. Good sales have been noticeable in urban areas and it is expected that about 400 units will be sold next year.
One of the future plans for this motorbike segment is to introduce Kymco from Taiwan which is a close competitor of Honda SH300i. Meanwhile, Yamaha Vietnam is also planning to launch model X-MAX 300 in the coming year to compete with Honda’s SH300i. Early this year, Piaggio has launched two models of its high displacement motorbikes – the Aprilia and Motto Guzzi including two other models Beverly 300i.e and Vespa GTS 300. Peugeot, a French manufacturer has also entered Vietnam’s domestic market with models Geopolis 300 and Satelis 300 to compete for market share.
Vietnam’s domestic market provides the perfect opportunity for high-engine displacement motorbikes because of the country’s improving economic development and the increasing demand from consumers. Five years ago, it was quite rare to find a high-engine displacement motorbike in the streets of Vietnam but today it has become rather common. The market has opened its doors to imported motorbikes when the ministry of transport removed the restrictions on the number of riders that will be allowed to drive using an A2 license. The removal of the regulation stimulated the growth of the high-engine displacement market of Vietnam.
There are UK dealers offering Piaggio MP3, the first of the 3-wheeled scooters from the Italian manufacturer. The Piaggio motorcycle has three wheels, a combination of 2 front wheels and 1 rear wheel that allows it to be parked on an irregular or side sloping ground using the traditional kickstand.