We got our hands on the number of motorcycles registered at the Land Transportation Office (as collated by the Stradcom, the IT provider of the agency) for the period January to June, 2019.
By end of June 2019, the LTO has registered a total of 1,228,793 units of brand new motorcycles. If we are to annualize the trend, it will surely surpass the total number of units registered in 2018 at 2,223, 460 units.
In general terms, the continued growth in motorcycle population can be attributed to the positive economic conditions that has kept the interest rates steady and the employment rate going up. This has sustained the purchasing power for motorcycles.
The worsening traffic conditions and the uncertainty in public mass transport system is driving more demand for motorcycles as alternative means to beat traffic woes. Affordable financing scheme that offer low down payment and low monthly installment has been attracting a major portion of the labor force looking for reliable commuter for daily use.
There is also the growing business of ride-sharing and food delivery that is creating additional demand for 2-wheelers. Tired of their daily routine, many employees are leaving the comfort of corporate employment and venturing into self-employment in habal-habal and delivery service.
The manufacturers and distributors are busy introducing new models to keep the buying interest. The promotions and other marketing events are just icing on the cake.
Leading the pack is perennial leader Honda with 325,605 units, equivalent to 26.5% share. Following closely is Yamaha at 23.7% share, or 290,880 units.
Coming in in third slot is home-grown brand RUSI at 163,932 units (13.3% share). While its share has shrunk from 14.4% in previous year, it still outranked the better-known Kawasaki (129,384 units with 10.5% share) and Suzuki (109,637units with 8.9% share).
Together, the five brands accounted for 83% of the total volume of registered motorcycles in the first half of the year. Bringing up the 6th to 10th place are Mitsukoshi, Skygo, Motorstar, Motoposh and Bajaj. The full list has a total of 92 brands crowding each other in the local market.
Industry observers are keenly looking at further expansion of the market due the jitters brought about by the surging fuel prices and anticipated fare hike increases. We will probably see more and more motorcycles on the road in the second half of 2019.