Are motorcycle sales down?

Are motorcycle sales declining?

Retail sales in the United States – the company’s biggest market – fell for the 16th straight quarter, resulting in an 8 percentage-point decline in big-motorcycle market share. The decline comes at a time when motorcycle sales have gone up on the back of a demand for socially distanced recreational outdoor activity.

Are motorcycles losing popularity?

The motorcycle category has been struggling for some time. Shares of U.S. market leader Harley-Davidson Inc. HOG, +1.86% have tumbled more than 25% over the past year, with U.S. retail unit sales falling for the past three years. In comparison, the S&P 500 index SPX, +0.72% has run up 12% the past year.

Why are motorcycles sales down?

There have been many reasons postulated for the shrinking ridership numbers and flagging sales, from Millennials being more risk (and motorcycle) averse, to smartphone addiction to enthusiasts aging out of the market, and the dreaded “combination of all these factors.” But then, the COVID-19 pandemic hit and something …

How are motorcycle sales in 2021?

In the first half of 2021, US motorcycle sales rose 19.4% overall compared to the same 2020 period. And they’re up 33.8% compared to the same period in 2019. … The MIC says that Q1 2021 US motorcycle sales were up 37.2% overall compared to the same period.

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Do Millennials buy motorcycles?

Millennials may be a bunch of fussy, entitled brats, but at least we’re buying a lot of motorcycles. According to a study by CDK Global Lightspeed reported in Powersports Business, Millennials purchased 43% of all off-road motorcycles over the course of the last year.

Is Harley-Davidson losing money?

Harley posted a fourth-quarter loss of $96 million, or 63 cents per share, compared with a profit of $13 million, or 9 cents per share, a year earlier. Revenue fell to $725 million, down 32% from a year earlier. The company said its North American motorcycle sales were down 15% in the quarter and 18% for the full year.

Why is Harley-Davidson failing?

With its motorcycle sales dealt a blow by the pandemic, Harley-Davidson Inc. … The company’s U.S. retail motorcycle sales fell 27% in the quarter, the steepest decline in at least six years and partly attributed to COVID-19 production cutbacks and temporary closures of dealerships this spring.

Is there a shortage of new motorcycles?

The microchip shortage for the motorcycle industry is expected to continue into 2022 or even 2023. Though it sounds ominous, the good news is that demand continues to climb for motorcycles, which is a welcome thought for motorcycle manufacturers and dealerships like Peterson’s Harley-Davidson.

Will motorcycle prices increase in 2021?

Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from September 20, 2021. According to a statement released by the company, the price hike has been necessitated to offset the impact of steadily increasing commodity prices.

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