PHILIPPINE motorcycle sales increased by 16.7% in the first three months of the year amid surging demand, said a sellers’ association, as it expects a 10% sales growth for 2023.
Motorcycle Development Program Participants Association, Inc. (MDPPA) said in a statement on Thursday that the motorcycle sales of its group members — Honda, Kawasaki, Suzuki, and Yamaha —reached 447,429 units, short by 3,674 units from 2019 sales of 451,103 units.
Of the total first-quarter sales, scooters accounted for a share of 60% or 269,652 units, followed by business units with an 18.6% share or 83,616 units, mopeds or underbond motorcycles with a 17.2% share or 77,152 units, and street and big bikes with 4% or 17,000 units.
“We hope that the performance of the first quarter will be sustained. The market is so volatile as influenced by internal and external variables,” MDPPA President Norminio C. Mojica said.
Amid improving sales, Mr. Mojica disclosed that MDPPA is aiming to reach a 10% sales growth this year.
“Our conservative forecast this year is 10% growth, in light of the headwinds of [an] imminent recession in the US and other regions. If the existing business landscape will prevail, the 1.7 million units recorded sales in 2019 may be surpassed,” Mr. Mojica said.
According to MDPPA, around 149,000 units were sold on average per month in the first three months, which is higher than the monthly sales average of 127,000 units in the same period last year.
“This makes the three-month totals of 2023 the best-recorded sales in comparison to the first quarters of the three previous pandemic years, including 2020, 2021, and 2022,” the MDPPA said.
In 2022, MDPPA members sold 1.54 million units, up 9% compared with 1.43 million units sold in 2021, led by scooter sales. — Revin Mikhael D. Ochave
Motorcycle sales up 16.7% in Q1 as demand rises
Source: Bantay Radio
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