Read more: auto industry, automakers, harley, harley-davidson, international motorcycle show, latest racing news, motorcycle, motorcycle makersMotorcycle makers showcased cheaper and more fuel-efficient models at the nation’s premier motorcycle show, as the industry tries to navigate a tough road of crippled consumer confidence and tighter access to credit that are weighing on sales.
The companies sought to drown out the gloomy news with the revved engines of 600 bikes from more than 250 exhibitors at the International Motorcycle Show, which ran through Sunday at the Jacob K. Javits Convention Center in Manhattan.
“We’re definitely seeing where manufacturers are taking advantage of the smaller motorcycles in their lineup, the motorcycles that don’t get the kind of attention when things are sort of economically strong,” said show spokesman Robert Pandya. “We’re seeing motorcycles coming in that were originally designed for other markets that, because of people’s consciousness for fuel economy and ease of getting around, are all of a sudden finding a home in the U.S.”
Harley cuts back forecast
Motorcycle sales tend to take a beating when the economy slows, and sales industrywide fell 2.2 percent in the third quarter of 2008, according to the Motorcycle Industry Council. In 2007, sales ended a 14-year growth streak by falling 6 percent.
In October, the top-selling U.S. motorcycle company, Harley-Davidson Inc., cut its 2008 sales forecast to between 303,500 and 306,000 motorcycles, down from 330,619 in 2007. The Milwaukee company is scheduled to report fourth-quarter earnings on Jan. 23, and analysts widely expect it to report that profit for the full-year declined from 2007.
Scooter sales in the U.S. surged 50 percent in the third quarter of 2008 compared with the previous year’s quarter, said Ty van Hooydonk, spokesman for the Motorcycle Industry Council.
Gas price fears linger
“You’re seeing a lot of people who are looking for alternative transportation going to scooters and dual-purpose bikes,” van Hooydonk said. Scooter sales might have been even higher last year if companies could have made more of them to keep up with the spike in demand, he said.
Van Hooydonk said the summer run-up in gas prices likely contributed to the spike, along with more riders using two-wheelers to commute. Although fuel prices have dropped more than 50 percent from the peak national average of $4.11 per gallon in July, representatives at the show said they believe consumers will continue to be drawn to motorcycles for their fuel efficiency, as many bikes get 50 or more miles per gallon.
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The companies sought to drown out the gloomy news with the revved engines of 600 bikes from more than 250 exhibitors at the International Motorcycle Show, which ran through Sunday at the Jacob K. Javits Convention Center in Manhattan.
“We’re definitely seeing where manufacturers are taking advantage of the smaller motorcycles in their lineup, the motorcycles that don’t get the kind of attention when things are sort of economically strong,” said show spokesman Robert Pandya. “We’re seeing motorcycles coming in that were originally designed for other markets that, because of people’s consciousness for fuel economy and ease of getting around, are all of a sudden finding a home in the U.S.”
Harley cuts back forecast
Motorcycle sales tend to take a beating when the economy slows, and sales industrywide fell 2.2 percent in the third quarter of 2008, according to the Motorcycle Industry Council. In 2007, sales ended a 14-year growth streak by falling 6 percent.
In October, the top-selling U.S. motorcycle company, Harley-Davidson Inc., cut its 2008 sales forecast to between 303,500 and 306,000 motorcycles, down from 330,619 in 2007. The Milwaukee company is scheduled to report fourth-quarter earnings on Jan. 23, and analysts widely expect it to report that profit for the full-year declined from 2007.
Scooter sales in the U.S. surged 50 percent in the third quarter of 2008 compared with the previous year’s quarter, said Ty van Hooydonk, spokesman for the Motorcycle Industry Council.
Gas price fears linger
“You’re seeing a lot of people who are looking for alternative transportation going to scooters and dual-purpose bikes,” van Hooydonk said. Scooter sales might have been even higher last year if companies could have made more of them to keep up with the spike in demand, he said.
Van Hooydonk said the summer run-up in gas prices likely contributed to the spike, along with more riders using two-wheelers to commute. Although fuel prices have dropped more than 50 percent from the peak national average of $4.11 per gallon in July, representatives at the show said they believe consumers will continue to be drawn to motorcycles for their fuel efficiency, as many bikes get 50 or more miles per gallon.
Read the full story
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