The motorcycle industry lost 9 million pieces of equipment
In the first 8 months of 2020, global motorcycle sales sank 21.5%.
The global motorcycle industry lost 9 million units of equipment in the first 8 months of this year. Worldwide sales totaled 32.8 million units, down 21.5 percent from the same period last year.
Global trends in the motorcycle industry 2020
The first half of 2020 hit all non-digital industries in the world, including the motorcycle industry. Sales fell 29.7% to 21.9 million units in units. In the first quarter, the decline was 15.9%, and in the second – 42.2%.
The key reason for the decline in sales is the period of self-isolation. This problem has affected almost all spheres of activity in all countries: production, shipment, distribution has stopped. However, motorcyclists, locked in their homes and apartments, along with nearly a billion other people, did not stop dreaming of travel and convenient city transport, and at the first opportunity they went to buy two-wheeled vehicles.
So in July, global sales reached 5.2 million units of equipment (3.8% lower than last year’s level), and in August – already 5.7 million (and the growth here was 9 percent). In the first eight months of this year, sales were 32.8 million units, down 21.5 percent and 9 million units below the same period last year.
At the regional level, the situation is as follows: the most affected indian market, here the dip was 37.4 percent, and only August broke the chain of 12 failed months in a row.
The rest of the Asian market (China, Japan, Taiwan, Korea) the dip was 4.1%, and forecasts suggest year-end results may be comparable to last year’s. Southeast Asia (Indonesia, the Philippines, Vietnam, Thailand, Malaysia, Cambodia and Singapore) lost 23.5% and things only get worse in the third quarter.
The fourth largest market, Latin America, lost 19.6% in the first 8 months, while North America only 9.6%. In Europe, the failure was 4.7% and the recovery of annual indicators to pre-crisis levels is expected.