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Local motorcycle sales grow close to 5 percent in H1 2023
Local manufacturers hope to enjoy a steady 5 percent growth rate for the remainder of the year, as well.
Motorcycle sales in the Philippines have seen moderate growth in the first half of 2023. Information from a Philippine Star article mentions a report by the Members of the Motorcycle Development Program Participants Association Inc., or MDPPA, a group of motorbike makers including Honda, Kawasaki, Suzuki, and Yamaha. The data reveals that from January to July 2023, these brands sold a total of 932,220 motorcycles. This is a significant increase compared to the same period in the previous year when 890,720 new bikes were sold.
This means there was a significant increase of 4.7% in motorcycle sales from January to July 2023 compared to the same time in 2022. The MDPPA members have set their sights on achieving a consistent five-percent growth rate for the rest of 2023. Altogether, it is expected that motorcycle sales from the major four manufacturers will reach 1.6 million in 2023, surpassing the remarkable 1.5 million motorcycles sold in 2022.
It's worth mentioning that while most motorcycle sales in the Philippines come from MDPPA member companies, there are other significant manufacturers gaining traction in the country. For instance, CFMOTO has built a large fan base, particularly in the premium motorcycle category. Affordable models like the 450NK have made it easier for people to enter the big bike market. Additionally, premium brands like KTM, BMW, and Ducati also play a substantial role in the premium motorcycle segment.
Furthermore, the Philippines is experiencing an expansion in local motorcycle production. In addition to the big four manufacturers with existing local production facilities, there have been newcomers establishing operations in the country in recent years. For example, KTM manufactures its 200, 250, 390, and 790 series motorcycles in the Philippines and exports them to nearby markets. According to data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation, motorcycle and scooter production in the country increased by a significant 57.4 percent in the first half of 2023.
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