As we settle into life after COVID-19, both industries and individuals are still in the process of recovering. High interest rates, lower disposable income and persistent supply chain issues continue to pose challenges, but we have started to witness a gradual stabilization in motorcycle sales. According to the year-to-date (YTD) 2023 figures released by the Federal Chamber of Automotive Industries (FCAI), there has been a 2.3 per cent decline in overall motorcycle sales since 2022.
Leading the pack in manufacturer sales is Yamaha, followed closely by Honda, Kawasaki and KTM.
So, what’s been selling? Off-road motorcycles account for the largest share of sales at 39.6 per cent, followed by road motorcycles at 27.7 per cent, Off-Highway Vehicles (OHV), and finally, scooters, which make up 16.2 per cent of the total sales. A total of 68,752 bikes have sold so far in 2023, with the most significant decline occurring in Off-Road motorcycles, which reported a 5.9 per cent decrease.
However, scooters have experienced a noteworthy 9.0 per cent increase in sales, bucking the industry trend. What does this indicate? Possibly factors such as affordability, traffic conditions, fuel efficiency and convenience are influencing this trend towards more affordable transport. It will be intriguing to observe how the market evolves in the next six to 12 months.