Honda Canada had a press soiree last night in Toronto in which they announced that they will be cutting prices of their new 2010 models and offering significant incentives on unsold ’08 and ’09 models.
According to big cheese Warren Milner, the building of the whole Powerhouse dealership network over the last few years has sapped financial and manpower resources, but with the job almost complete (43 up and running and another 17 to go), Honda can now focus on some aggressive repricing to help get the brand back into motorcyclists’ heads.
The new pricing is supposed to put the range "into the ballpark" of U.S. pricing, which — with the Loonie creeping back towards par — would seem like a prudent move. Take the Varadero, for example (Honda would be happy if you did). This year the big adventure bike was asking $14,500, but for 2010 the sticker price drops to $13,199, now within $900 of Suzuki’s V-Strom 1000 — which doesn’t have ABS.
The 2009 unsold models will not see MSRP adjustments but instead get cash rebates (which brings ’09 pricing below 2010 models), with the ’09 Varadero getting a $2,500 rebate on its $14,500 list price (all rebates are available on the Honda Canada website).
Honda Canada also used the event to announce the pricing of the VFR1200, which is listed at $18,999 for the manual shift; though no price has been set for the dual-clutch auto model, they hinted heavily that it will likely command a $1,500–$2,000 premium and should be in stores by May.
This pricing puts the VFR $2-3k under the sport-touring competition (though it doesn’t come with bags as standard) or about the same amount above the sporty competition (BMW K1300S, Hayabusa, ZX14).
A mirror for $387!! What an effing joke. So Honda wants to be BMW/Harley/Ducati now? Canadian parts distributors are thieving scum. Just like the big five Canadian banks who identically rattle you with debit fees, but once they open shop south of the border (like TD) charge nothing, just like the other US banks. So we have competition in Canada? No, we have cartel capitalism.
Part price reduction would be great, a mirror for my bike is $387 in Canada and $119 in the US. With shipping and duty I still saved over $100.
So, they increased their prices last year and now bringing them down so we’re back where we started?
First Honda products are overpriced. Second buy it or leave it’s starting to hurt sales. I bought another brand.
The VFR1200 at the Toronto MC show was tagged $18299
Please kill this comment and my comment above as it is missing 1/2 of the content that I had intended.
It would be interesting to know how bad they have killed their market share with their “Powerhouse” concept”. Here in Calgary I would guess that their 09 sales were upwards of 80% t is already way overpriced is also stupid (I bought my kid an 80cc Yamaha for $1300 all-in instead). It sounds like they might starting to get-it with the price reductions, but many of their multi-time customers have since moved on.
Now if they would just put their parts prices in line with the same as the U.S. I would be happy. For instance my ’05 VFR800 needed a new stator. Honda Canada price over $400 with taxes. U.S. price, $197.