Study says Motorcycle sales set to rise
Motorcycle sales are set to boom according to an Australian industry research firm.
Bike sales tipped to jump.
Rising fuel prices will be a driver for a solid recovery in motorcycle sales in 2011. In fact, according to Melbourne based research firm IBISWorld, motorcycle dealers will be the 4th best performing industry in terms of growth.
IBISWorld believe that one reason will be rising petrol pump prices as the result of our dollar softening, and fuel demand rising. Add to that an increasing number of ageing baby boomers freed of responsibility that may also join the sales queue.
Tipping a 7.4% industry growth rate, only Electricity distribution, Video games and Organic farming will better the motorcycle business.
Whilst this may be reassurring to some, we would see some potential flaws in the argument, one being that a lot of people who have issues with fuel prices may this time round seek alternatives in public transport, electric vehicles, or most likely, scooters.
Scooter sales soared during the last fuel price media blitz, and promptly fell after we all found something else to be fixated on.
Along with that, it will take more than 7.4% to get back to the level the industry had reached 2 years ago, on the back of years of solid increase year on year.
It is true many dealers are doing it tough, but IBISWorld also reveals caution about sampling other industries, with Professional Photography tipped as the worst performer, with a predicted 10% drop.
Note: Motoaus business plan for 2011 – An organic farm with electricity generating wind towers that incorporates a motorcycle shop stocked with video games. And we won’t be taking pictures either.