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Cautious optimism as local motorcycle makers post sales growth in H1

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Cautious optimism as local motorcycle makers post sales growth in H1
Motorists experience a bumper-to-bumper traffic along West Avenue Quezon City on May 5, 2023.
Philstar.com / Jovannie Lambayan

MANILA, Philippines — Local motorcycle manufacturers reported higher sales in the first half, all while staying cautiously optimistic as lingering headwinds threaten their growth target for the year.

Manufacturers sold 932,220 units from January to July, up 4.6% year-on-year, the Motorcycle Development Program Participants Association (MDPPA), an industry group, said in a statement on Wednesday.

MDPPA members include Honda, Kawasaki, Suzuki and Yamaha.

With that performance, MDPPA forecasts it can achieve a “modest yet steady” 5% growth during the remaining months of the year. MDPPA President Norminio Mojica explained that sales 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," he said.

The industry group is targeting to close 2023 with an overall sales of 1.6 million units, higher than the 1.5 million motorcycles sold in 2022. But this goal, MDPPA said, is still not safe from headwinds.

“Elements like 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, have contributed to a situation of slower growth,” MDPPA said.

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MOTORCYCLE SALES

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