gloomy market
Before the roadmap for motorbike emission control being prepared by the authorities, the old motorbike market was unprecedentedly gloomy, vehicle prices plummeted, many models produced before 2008 almost disappeared.
At Chua Ha old motorbike market (Cau Giay district, Hanoi) - one of the largest "units" of old motorbike trading in the North, the current scene is completely opposite to the bustling period before. The shops are close together, the vehicles are long-lined and cover the frontage, but people come to ask to count on the fingers.
Mr. N.T.K, owner of a store here, shared that since Circular 24/2023/TT-BCA of the Ministry of Public Security regulating vehicle license plate identification took effect, the purchase and sale of used cars has become significantly more complicated. "It takes a long time to change owners, buyers are afraid of procedures, so sales have decreased sharply. Before, I sold 20 to 30 cars a month, now sometimes I only sell more than a dozen cars a month," said Mr. K.
The rapid development of electric motorbikes with prices starting from just over 10 million VND has also caused consumers to change direction. New electric vehicles are cheaper, do not consume gas, do not need to register complicated license plates, and are easily accessible to students who are the main customers of old motorbikes.
Mr. N.T.L. The owner of Chua Ha car market said that the market has decreased by 20 30% compared to the same period in previous years. "From April to July every year is the low season, but this year is even worse because there are fewer and fewer customers".
Along the surrounding streets such as Cau Giay, Pham Van Dong..., many stores purchasing used motorbikes are in a similar situation. Many shops even closed early from 4pm due to lack of customers.
SH, Vespa under 20 million
From traditional motorbike markets to online platforms, the price of used motorbikes has dropped to a very low level.
scooters that were once popular, such as the Honda SH Mode in 2016, only 8,500 km, are currently being sold for 13.5 million VND, half of the reference price on the market in the same year.
The 2019 Vespa Sprint and Liberty models are only worth 18 to 20 million VND, although the appearance is still quite new and the engine is guaranteed.
For low-cost gasoline motorbikes. Digital cars such as the Honda Wave in 2010, running about 15,000 km, costing only 2.9 to 3.2 million VND. The 2012 Yamaha Sirius is still original, the engine has not been repaired, and is being advertised for 3.3 million VND. However, according to the seller, "even with such a student price, customers asking to buy are still sparse".
Another factor that is also pushing down the price of used motorbikes is that manufacturers are constantly adjusting policies and deeply reducing prices for new vehicles.
Pre-2008-made cars disappear from the market
Notably, a market survey shows that cars manufactured before 2008 no longer appear in old car stalls. According to the Ministry of Agriculture and Environment, when tightening motorbike emissions, vehicles manufactured before 2008 may be eliminated.
"Now everyone is afraid of buying old cars, because they are afraid that they will not be registered or not be allowed to circulate when the tightening regulations take effect. For 2008 cars and earlier, we do not import them anymore because no one is buying them," said the owner of an old motorbike shop in Chua Ha.
