We are happy to note that the total new registration of motorcycles has reached 1,802,707 in January to October, 2021. The volume is almost at par with 1,886,405 new registrations recorded in Jan-Oct 2018 before the Covid-19 pandemic. By November 2021, the year-to-date volume has reached 1,970,423 units of motorcycles. Annualized, the total new registration of motorcycles may reach more than 2.1 million this year, a clear sign that the motorcycle industry is on the rise again after the initial setback brought about by the restrictions due to the Covid-19.
The restrictions in mobility and lack of public transporation due to Covid-19 restrictions triggered fresh demand for motorcycles as a means of transportation, as well as other alternative modes. Fortunately, motorcycle sellers maintained their affordable financing scheme to allow easy ownership of two-wheelers (and three-wheelers as well).
Moreover, online shopping during the period of community quarantines gave rise to the delivery services where motorcycles proved to be efficient, quick and economical. While motorcycle distributors launched new and updated models to the market to sustain the buying appetite.
Honda continue to remain on top of the market with 625,675 units or 31.8%, followed closely by Yamaha with 400,472 units or 20.3%.
Home-grown Rusi brand is third with 319,368units or 16.2%, outranking better-known brands Kawasaki (150,649 units or 7.6%) and Suzuki (146,649 units or 7.4%).
Together, the five brands accounted for 83.4% of the total volume of registered motorcycles in the first 11 months. Bringing up the 6th to 10th place are Mitsukoshi, Skygo, Motorstar, Motoposh and Bajaj.
Industry observers are keenly watching for possible increase in the demand for motorcycles because of fuel price increases in the last few months. We will most likely see more and more motorcycles on the road.