Wednesday, May 22, 2024
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Market reflects current economy issues

“October was a disappointing month for the PTW market, registering a decline of sales in all sectors. An overall summary of the market revealed October registrations decreased by 6.0% compared to 2021, with 8003 total registrations. However, the registrations year-to-date remained positive, with a 2.8% increase over 2021’s numbers. These are reflective 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 the NMDA.

“Motorcycles suffered a 5.7% decrease in figures, with a 2.8% increase in year to dates figures, helped by Touring motorcycles continuing their upward trend, with a 55.9% increase. Mopeds suffered a decline of 10.9% in registrations, while tricycles recorded a rise of 8.8%.

“The Honda PCX 125 keeps placing itself as the most successful PTW vehicle, registering 480 new units in October and helping Honda to remain the most successful brand with 1540 new registered units.

“Disappointingly, electric PTWs suffered most, with a 32.8% decrease in October, although year-to-date figures revealed a 13.5% increase from 5103 to 5793 units. Electric machines in the 11-35 kW power band experienced a 177.3% increase in year-to-date registrations, a very positive sign in prospect of 2030. As with the previous month, the Vmoto Super Soco CPX remains the highest-selling electric PTW vehicle, with 40 new registered units.”

Cook concluded, “October has been a disappointing month. This could be explained by it being 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 rising inflation, pose risks to consumer demands.”

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