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Motorcycle Market 2018Motorcycle Sales Recovery StalledAccording to Statista, 487,100 new motorcycles were sold in the US during 2016, a 2.7% decrease from the 500,700 sold during 2015. Motorcycle sales peaked during 2006 when 1,1900,000 were sold, and sales have been stagnant since the recession (2008).During spring 2017, there were approximately 12.65 million households that owned a motorcycle, an increase of 1.6% from autumn 2016, but still less than the 12.86 million motorcycle-owning households during spring 2016.The aging of Baby Boomers has negatively impacted motorcycle sales, as fewer are riding, plus, continued disinterest from Millennials. During 2003, only a quarter of motorcycle riders was 50 or older; by 2014, it was almost half.US Motorcycle Unit Sales, by Type, 2015 vs. 2016Type20152016% ChangeOn-road350,869335,804-4.3%Off-road82,84489,446+8.0%Dual sport36,91735,432-4.0%Scooter30,06526,462-12.0%Total500,695487,144-2.7%Statista (Motorcycle Industry Council), January 2018A Shift Towards Smaller MotorcyclesThe industry has shifted from larger, heavy motorcycles to more lightweight and less-expensive models to appeal to Millennials and women. Between 2011 and 2016, sales of bikes with engines smaller than 600cc increased 11.8%, while those with larger engines increased 7.4%. Sales of motorcycles with the smallest engines (less than 125cc), however, decreased 32.2% during May 2017.Smaller motorcycles are less intimidating and more affordable. Harley-Davidson’s Street 500 costs less than $7,000 and Kawasaki’s Ninja 300 approximately $5,000, compared to Honda’s traditional-sized Gold Wing F6B, at more than $20,000.American Motorcyclist Association Demographics, 2018CharacteristicAverage/PercentAverage age48 years oldRiding experience26 yearsMale94%Household income $85,300Education21% postgraduate degree/study;33% college degree; 32% some college; and13% high school gradUse78% on-road, 41% off-roadAmerican Motorcyclist Association, January 2018 Hog Market Loses WeightHarley-Davidson, the industry leader, continues to experience declining sales. Its Q3 2017 US sales decreased 8.1% YOY and worldwide motorcycle sales decreased 14.3%. The only bright spot was general merchandise sales, increasing 11.3% worldwide.During Q3 2017, Polaris retail sales increased 16% YOY and sales increased at least double-digit percentages since Indian bikes were released for the 2014 model year. The company claims its US market share is more than 10%, as of September 2017.Italian manufacturer Ducati sold 55,451 bikes during 2016, including 8,787 in the US, its number-one market. BMW Mortorrad USA sales increased 3.8% to 7,157 units during Q1 and Q2 of 2017; it sold 88,389 units worldwide, an increase of 9.5%.Motorcycle Manufacturers’ US Market Share, 2015 vs. 2014Company2015 Share2014 ShareHarley-Davidson29.3%35%Honda14.0%15%Yamaha13.0%13%KawasakiNA9%Polaris4.4%5%SuzukiNA5%Other manufacturersNA18%City Data, January 15, 2017; The Motley Fool March 5, 2017Motorcycle Market InterestDuring the first three quarters of 2017, Harley-Davidson continued to be the most researched brand in the cruiser (61%) and touring (75%) categories, according to NADAGuides.Harley-Davidson, however, didn’t appear in the sportbike category. The leader was Kawasaki, at 24%, followed by Yamaha, 20%, and Suzuki, 18%. In off-highway, KTM was the winner, with 30%, followed by Yamaha and Honda at 25% each.Web traffic for motorcycles was lowest in Florida, Texas and California and highest in Montana, North Dakota, Wyoming, New Mexico, Mississippi, Arkansas, Vermont, West Virginia, Rhode Island and Delaware.Average Motorcycle Retail Value, by Category, Q1–Q3 2017Time PeriodCruisersSport BikesJan–Feb 2017$5,522$6,071Mar–Apr 2017$5,473$5,982May–Jun 2017$5,756$6,376Jul–Aug 2017$5,788$6,375Sept–Oct 2017$5,623$5,961NADAGuides Powersports Market Insights Q3 2017Rules of the RoadMotorcycles sales are seasonal, with the summer the strongest, followed by spring.Alliance Bernstein believes that motorcycle sales growth in the US will remain flat, or no growth, and the growth of the number of riders will decrease through 2021.Motorcycles are the most common type of powersport vehicle to be traded for a new one. When a new unit was bought, an older unit was traded in 20% of the time, usually (96% of the time) another motorcycle.Correlations of Adults 18+ Whose Households Own a Motorcycle in Minneapolis- St. Paul, MN and Norfolk, VA and Their Household Incomes, Summer 2017Range of Household IncomeMinneapolis-St. PaulNorfolk, VAPercentIndexPercentIndex$15,000–$24,9994.5%581.8%21$25,000–$34,99910.3%9715.9%129$35,000–$49,9998.2%6011.2%81$50,000–$74,99925.5%11917.8%83$75,000–$99,9993.7%2318.9%136$100,000–$149,99916.8%12024.5%161$150,000–$199,99915.3%3132.6%85$200,000–$299,9992.4%105**$300,000+6.8%454**$500,000+2.2%1,111**$1,000,000+2.2%1,398**Based on The Media Audit’s Summer 2017 Surveys*insufficient dataAdditional AnalysisUsed motorcycle sales have increased by 14% to 1.2 million units, and this is a growing market. The ratio of used motorcycle sales to new motorcycle sales is 3:1.Since the used market is so big, it is important to know which motorcycles hold their value. Among motorcycles that are two years old, Harley-Davidson models were all of the top 10 in resale value, holding between 90% and 94.8% of their value.In somewhat older cruiser and touring motorcycles, Harley-Davidson accounted for 7 of the top 10, retaining 80.3% to 88.9% of their value. Other models were the Boss Hoss BHC-3 LS300 at #5, the Boss Hoss BHC-3 LS300 Super Spt at #8 and the Motor Trike 750 Scooter at # 9.In the 10-year old category, H-D motorcycles had 4 of the top-10 spots. Boss Hoss had three at #4, #6 and #7 and Campagna T-Rex 1400R was #2, Ural Tourist with Sidecar was #5 and Triumph Bonneville Black #10.KTM had 4 of the top 10 among 2-year old sport bikes, BMW had 3 and Kawasaki 2 of the top 10 5-year old sport bikes and Ducati had 3 and Kawasaki 4 of the top ten 10-year old sport bikes.Dealers can increase profits on pre-owned motorcycles by:Using the term “pre-owned” when sellingUsing an appraisal form when evaluating tradesDetermine relative value of stripping or adding accessories depending on the local market needsSources: Statista Website, 1/18; Revzilla Motorsports Website, 1/18; Motorcycle News Website, 1/18; Bloomberg Website, 1/18; American Motorcyclist Association Website, 1/18; Move Ten Manual Shift Website, 1/18; The Motley Fool Website, 1/18; City Data Website, 1/18; Polaris Website, 1/18; Ultimate Motorcycling Website, 1/18; NADAGuides Website, 1/18; Northcoast Research Website, 1/18; CNBC Website, 1/18; Powersports Business Website, 1/18. The Media Audit Website, 1/18.Updated: January 2018? 2018 Media Group Online, Inc. All rights reserved. ................
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