COVID-19 Hasn’t Decimated Sales
When the world shuts down, what do you do? You go for a ride on your motorcycle, ATV, or other powersports equipment. If you don’t own anything to ride, you go out and buy one apparently. According to multiple sources, including Cycle World and Roadracing World, powersports sales are doing well during the pandemic.
This is a sentiment that the Motorcycle Industry Council stated and I reported on back in May. The numbers then seemed to be good and appeared to indicate positive momentum in the industry, but it was tough to say at that time what exactly was happening. Now we know. People want to buy bikes and ATVs to stay busy.
On a personal note, I had a guy who works at a local dealership near me tell me that the dealer can’t keep new dirtbikes on the showroom floor. It sounds to me like a lot of off-road vehicles are being purchased, but I sure wouldn’t count out street bikes. KTM has previously reported that sales have stayed strong since the pandemic. While there was an initial dip, now people seem to want bikes.
Also, it’s worth noting that there could be some supply and demand issues due to the pandemic. Many factories and production facilities had to shut down, which could mean there simply aren’t enough new bikes around. That’s where the used market will come into play. All told, this is good news for motorcyclists and powersports enthusiasts.