While the manual transmission segment has decreased in growth, the scooter and motorbike segment has increased rapidly, another segment has begun to develop, which is a nostalgic motorbike line, for customers who always miss the past or prefer classic style.
The era of nostalgic cars
The nostalgic motorbike market is increasingly vibrant with many new models appearing. Many motorbike businesses have launched classic products, based on previous legendary models, with new technology and new materials to suit the times, meeting the needs of customers.
Most recently, Honda Vietnam has simultaneously launched two nostalgic products, Super Cub 125 and Monkey, imported entirely from Thailand.
With the Super Cub 125 version, this legendary car, although still having the characteristics of the Cub line, has been re-branded in a modern style. The breakthrough of the Honda Super Cub C125 with previous generations is the engine that is increased to 125cm3, accompanied by a 4-speed semi-autonomous gearbox. The Honda Super Cub C125 is priced at 84.99 million VND, equal to the price of a Honda SH.
Monkey is a manual transmission motorbike model, with a nostalgic design. This is a model of the car originating for minibikes of young Japanese people from the 1960s of the last century. Monkey still maintains a compact, fun and dynamic traditional design style. The highlight of this model is that the manufacturer adds modern equipment with a 125cm3 engine,... This car is also priced at 84.99 million VND.
In mid-2018, Piaggio Vietnam also imported the Vespa Six Days model, with a nostalgic design in a classic way, inspired by the Vespa 66 years ago but with modern features... The selling price of this car is up to 199 million VND.
Not only Honda or Piaggio bring nostalgic products to Vietnam. Recently, a series of motorbike enterprises have developed this product. At the end of 2017, SYM Vietnam launched the nostalgic Husky 125 classic manual clutch motorbike. The name Husky 125 classic, reminiscent of the first Huskys available in Vietnam in 1996, with a romantic design, quite sought after at that time.
Other brands such as Kawasaki, Suzuki, Yamaha, Peugeot, one-off, ... also have imported nostalgic car models distributed in Vietnam, both genuine and un genuine.
Potential market
In Vietnam, where there are many users of motorbikes, the motorbike market has developed for decades. Among them are models that have become legendary, attached to many people over the years.
During the development process, many models have been terminated, but customers still miss the cars of life and memories. On the streets, every time a Honda Cub or Vespa Sprint appears, many people cannot help but be moved, thinking about a distant time with a familiar shape.
Grasping the psychology of consumers who do not lose their love for the past, businesses have combined old elements, combined with modern trends, to create nostalgic models with similar designs and names, or worn out as before to evoke old memories.
This segment currently has small sales, but is considered quite potential. Because people's income is getting higher and higher, while many old car models have disappeared, many people want to preserve memories of the past or prefer classic style.
Many nostalgic cars are cheap but sell very well. Piaggio Vietnam said that the Vespa Six Days is priced at 199 million VND, very popular with customers, with every single one sold out. Currently, many customers are still waiting for the next imported cars.
A private enterprise that previously imported the 110cm3 Super Cub from Japan said that in the Vietnamese market, this vehicle is priced at 82 million VND, but some are immediately purchased by customers. More and more Vietnamese people are favoring nostalgic car models. Up to now, many people have sought to buy a Cub 110 cm3 but there are no more because they are no longer produced in Japan.
Motorcycle businesses said that re-living historical models, with many new improvements, is both to honor "heritage" and breathe new life into the Vietnamese motorbike market.
According to statistics from the Vietnam Association of Motorcycle Manufacturers (VAMM) consisting of 5 members Honda, Yamaha, Piaggio, Suzuki and SYM, in the first 9 months of 2018, 2.452 million new motorbikes were sold, an increase of nearly 3.3% over the same period in 2017. That is not to mention the number of cars of more than 100 other enterprises, including both assembly and import of completely built-up cars outside of VAMM.
Motorcycle sales in 2018 are expected to grow by about 5% compared to 2017 and the Vietnamese motorbike market will surpass the threshold of 3.5 million vehicles/year. On average, in Vietnam, there are about 10,000 new motorbikes rolling every day.
