In a bid to regain market share in Vietnam's electric scooter segment, Honda and Yamaha have significantly reduced the prices of their electric models. This decision comes as local competitors, particularly VinFast, have been rapidly gaining traction with more appealing pricing and features.

Both Honda and Yamaha have been present in the Vietnamese electric scooter market for some time. However, their cautious approach, coupled with higher prices and limited range, has led to a decline in their competitive edge. VinFast and other local brands have capitalized on consumer preferences by offering more affordable options with longer ranges.

The recent price adjustments indicate a strategic shift for these Japanese manufacturers. Yamaha's Neo's 2026 model, for instance, has seen a price drop to 36.9 million VND, making it more accessible to consumers. Despite this reduction, the model's range of approximately 72 km per charge still poses challenges in attracting buyers.

Honda has made even bolder moves by slashing the price of its UC3 model by over 23 million VND, bringing it down from an initial suggested price of 80 million VND. While this model boasts a range of about 120 km, it faces stiff competition from both premium gasoline scooters and other electric models that offer superior range and pricing.

The electric scooter market in Vietnam is rapidly evolving, with VinFast selling over 406,000 electric scooters in 2025, marking a 473% increase from the previous year. This growth underscores a shift in consumer acceptance towards electric vehicles, prompting Honda and Yamaha to rethink their strategies.

As both companies aim to enhance their market positions, they must not only lower prices but also demonstrate that their electric scooters deliver comparable value to traditional gasoline models. The pressure is on for Honda and Yamaha to adapt to this new competitive landscape, where consumer expectations and preferences are shifting towards more practical and cost-effective electric options.