Despite higher sales as of July, members of the Motorcycle Development Program Participants Association (MDPPA) have expressed concern projected growth this year would be tempered by global and economic issues, including rising prices and supply chain problems.
In a report, MDPPA said its members sold 932,220 units in the first seven months of the year, a 4.6-percent increase from 890,720 units in the same period in 2022.
The MDPPA said it expects a steady 5 percent growth for the remaining months of the year to achieve its goal of 1.6 million units, surpassing last year’s 1.5 million units by more than 6 percent.
But MDPPA noted the projected growth is likely to be significantly affected by rising prices and the lingering impacts of the pandemic, such as supply chain issues and a mix of rise on in-person and remote work setups.
Norminio Mojica, MDPPA president, said sales performance during the first semester could potentially mirror that of the subsequent semester.
“Drawing from historical trends, the months of September, October, and November have consistently exhibited heightened sales volumes, whereas the months of August and December have maintained an average profile in terms of monthly sales,” Mojica said.
MDPPA is composed of manufacturers of Honda, Kawasaki, Suzuki, and Yamaha.
