The motorcycle industry will cruise to its 12th straight year of growth. What’s more amazing, 24% more units were sold in the past four years than in the entire 1990s:

It’s smooth riding for the motorcycle industry, which is on the road to its 12th year of consecutive growth, says the Motorcycle Industry Council (MIC). According to the not-for-profit national trade association based in California, year-to-date sales have increased 4.4% through October 2004, making it another growth year for the U.S. motorcycle market.

In fact, the popularity of motorcycles in the U.S. has accelerated so rapidly that 24% more units have been sold in the past four years than in the entire previous decade (1990-1999). “Sales are at an all-time-record high, all brands, all styles,” John Wyckoff, a veteran industry consultant, tells American International Automobile Dealers. “It just took off like a flying goose.”

And the market’s long-term trajectory is just as impressive. “Our industry’s 12-year growth cycle is nothing short of spectacular,” says MIC president, Tim Buche. “Motorcycling today is more mainstream than ever and the numbers prove it. The new MIC Owner Survey shows that since 1998, there has been a 34% increase in the number of motorcycles in use in the United States.”

In 2003, robust demand was reflected in strong new unit sales which topped 996,000, up from 936,000 units in 2002. If the current rate of growth holds, MIC estimates that 2004 new unit sales of motorcycles could clear 1 million. Overall, the association anticipates revenues to exceed $20 billion in consumer sales and services, including some $7.5 billion in retail sales of new units.

In the global motorcycle industry, Milwaukee-based Harley-Davidson, along with BMW and Ducati, is claiming niche markets while Honda, Kawasaki, Suzuki and Yamaha held the top spots from 1975 to 2003, according to a Stanford Technology Ventures Program report. Harley-Davidson has bounced back from near collapse in the early 1980s to dominate the market for large custom motorcycles.

In the U.S., motorcycles are more popular than ever and more likely to be owned by women, according to the latest Motorcycle Owner Survey, conducted by MIC. The survey also found:

• Easy ridin’ catches on. An estimated 24 million people in the U.S. hopped on a motorcycle at least once in 2003.

• Ruling the road. The 34% rise in the number of motorcycles since 1998 translates to about 8.8 million motorcycles in use in the U.S.

• More women enjoying a sweet ride. The ranks of female motorcycle owners are increasing. The proportion of motorcycles owned by women reached 9.6% in 2003, up from 6.4% in 1990.

• Not as freewheeling as you would think. More than half of motorcycle owners are married. Additionally, the median household income of motorcycle owners is higher than that of the U.S. population as a whole. Also, more motorcyclists today have white-collar jobs.

• More mature and likely to have matriculated. The median age of motorcycle riders is 42, up from 38 in 1998. Additionally, more riders today have college degrees–29% compared to 23% in 1998.

• Brand spanking new. A greater percentage of motorcycles in use are purchased new, rising to 43% in 2003 from 33% in 1998.

Sources:

Motorcycle Industry: 24 Percent More Units Sold in the Past Four Years Than in the Entire Preceding Decade
The Auto Channel, November 18, 2004
www.theautochannel.com/F/news/2004/11/18/284016.html

MIC Releases New Motorcycle/ATV Owner Survey
Motorcycle Industry Council
Discover Today’s Motorcycling, November 18, 2004
www.motorcycles.org

The Global Motorcycle Industry — 2003
Eric Cherng
Stanford Technology Ventures Program
[PDF] www.tuta.hut.fi/studies/Courses_and_schedules/Isib/TU-91.120/coursematerial/global%20motorcycle%20industry%202003.pdf

More Motorcycles Hit American Highways as the Price of Gasoline Soars
John Kekis
American International Automobile Dealers, September 7, 2004
www.aiada.org/article.asp?id=22459