MOTORCYCLE sales are expected to hit 1.6 million this year for an estimated growth of 6.7% from the 1.5 million units sold last year, according to the Motorcycle Development Program Participants Association (MDPPA).
“MDPPA conducted a comprehensive review of its sales targets for the balance year. Unanimously, its members agreed to achieve a modest yet steady 5% growth rate for motorcycle sales from August to December,” the group said in a press release on Wednesday.
In the seven months ended July, motorcycle sales rose by 4.6% to 932,220 units from 890,720 units in the same period last year, data from MDPPA showed.
MDPPA President Norminio Mojica said the sales performance as of July could potentially be mirrored in the remaining months of the year.
“Drawing from historical trends, the months of September, October, and November have consistently exhibited heightened sales volumes, whereas the months of August and December have maintained an average profile in terms of monthly sales,” he said.
However, MDPPA said the projected growth for the remainder of the year could be significantly affected by foreign and local economic factors.
“Elements like rising prices and the lingering impacts of the pandemic, such as supply chain issues and a mix of rise on in-person and remote work setups, have contributed to a situation of slower growth,” the group said.
Data from the ASEAN Automotive Federation showed that first-semester local motorcycle and scooter sales rose by 4.6% to 798,366 units from 763,117 units last year.
Meanwhile, cumulative production in the Philippines during the period reached 694,946, up 57.4% from the 441,484 units produced in the same period in the previous year.
MDPPA is composed of manufacturers of the industry’s prominent brands, namely: Honda, Kawasaki, Suzuki, and Yamaha. — Justine Irish D. Tabile
