Impact of COVID-19 on the Motorcycle Industry - Sales Fell 10.6% During the First Quarter of 2020 - ResearchAndMarkets.com

Motorcycle sales fell 10.6% during the first quarter of 2020 compared to the same period last year.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Friday, July 3, 2020
Information
Tags: 
Automotive, Motorcycles, Audi, Volkswagen Group, Ducati Motor Holding S.p.A., Ducati, Retail, Motor vehicles, Business, Automotive industry
Summary
Key Points: 
  • Motorcycle sales fell 10.6% during the first quarter of 2020 compared to the same period last year.
  • Many manufacturers had to shut down their production facilities and as a result of lower production dealers may not receive additional models.
  • The company is also offering dealers financial support for motorcycle inventory and extending credit payment due dates on parts and accessories.
  • Ducati has reported that dealers have seen higher retail sales in April 2020 versus April 2019 as a result of this program.


ResearchAndMarkets.com published a new article on the motorcycle industry "Impact of COVID-19 on the Motorcycle Industry"

Motorcycle sales fell 10.6% during the first quarter of 2020 compared to the same period last year. Many manufacturers had to shut down their production facilities and as a result of lower production dealers may not receive additional models. Harley Davidson reopened factories in May and plans to offer a narrower range of motorcycles to dealers as a result of the shutdown in production. The company is also offering dealers financial support for motorcycle inventory and extending credit payment due dates on parts and accessories.

Several motorcycle manufacturers have seen high demand for online ordering during the pandemic. Polaris introduced the Click.Deliver.Ride program in response to high levels of traffic on their website. The program allows customers to arrange delivery of motorcycles from local dealers. Ducati also implemented the Ducati Delivers program which gives customers an entirely contactless purchase and delivery process. Ducati has reported that dealers have seen higher retail sales in April 2020 versus April 2019 as a result of this program. Analysts predict that motorcycles may see increased popularity post COVID-19 as a result of fears over using public transport and increased comfort with two wheeled transport through electric motor scooter services like Revel and Scoot.

To see the full article and a list of related reports on the market, visit "Impact of COVID-19 on the Motorcycle Industry"

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