PTW MARKET REFLECTS SIGNS OF CURRENT ECONOMICAL ISSUES

“October was a disappointing month for the Power Two-Wheeler (PTW) market, registering a decline of sales in all sectors. An overall summary of the market revealed new registrations decreased 6.0% in October, with 8,517 total registrations. However, the registrations of new PTW year to date has increased moderately, with a 2.8% increase. These are signs of the challenges the industry is currently facing with the energy crisis and the cost-of-living crisis set to further impact figures in the following months” said Symon Cook, Head of NMDA, commenting on the latest MCIA new registration figures.

Motorcycles suffered a -5.7% decrease in figures with a 2.8% increase in  year to dates figures. Within the sector, touring motorcycles keep following the upward trend with a 55.9% increase in new registrations.

Mopeds suffered a decline with a decrease of -10.9 in registrations.
On another note, tricycles recorded an increase of 8.8% in new registrations.

Disappointingly, electric Power Two Wheelers (ePTWs)  suffered the most, with a -32.8% decrease in the month of October, although year to date figures revealed a 13.7% increase from 5,085 units to 5,782 units. Electric bikes which are≤ 35 kW experienced a 177.3% increase in year-to date registrations, a very positive sign in prospect of 2030.

Motorcycle rider test passes continue to rise, showing 2021/2022 to be the most successful year in recent history. Currently, the number of successful passes is 48.6 thousand.

The Honda PCX 125 keeps placing itself as the most successful PTW vehicle registering 480 new units in September, seeing Honda as the most successful brand with 1,540 new registered units.
As the previous month, the Vmoto SUPER SOCO CPXThe remains highest selling electric PTW vehicle, with 40 new registered units.

Symon Cook concluded “October has been a disappointing month for the Power Two-Wheel Motor market. This could be legitimized by the end of the summer and the start of the rainy season, putting many riders off the roads. However, it is evident that the current issues our country is facing, like the rising inflation, poses risks for consumer demands.
Despite the fall in registration figures year on year, dealers remain cautiously optimistic for future months. It is encouraging to see a growth in YTD figures are on the rise, and the electrification of the market is certainly here to stay and is likely to return to growth for the remainder of the year”.