Following the rapid growth scored in the summer period, covid 19 resurgence blocked the motorcycles market in October when sales declined 10.1%. Year to date October sales have been 217.382 (-7.0%). While short terms outlook is negative, in the middle the market demand for individual mobility will boost sales.
Two-wheelers sales in October
The Covid 19 second wave arrived in Italy and in Europe with a devastating effects due to the government’s decisions to not block the virus spread immediately, as already done for the first wave, giving short terms priority to the economy.
In Italy the motorcycles industry was booming from the day after the end of the first lockdown (May 6th) with a huge recovery scored between June and September. After 9 months, sales were down only 6.9% projecting the entire year with a really moderate lost, considering the lost of two entire months, in the spring, the most relevant period for seasonality of motorcycles sales.
However, the mood changed week after week in October, despite Government introduced progressively more restrictive rules and the consumer goods demand dropped down. The sales of new motorcycles and scooter dropped as well with 18.410 sales (-10.1%), first decline after four month.
Year to date October sales have been 217.382 (-7.0%).
The demand for electric vehicles is still strong with a 127% increase from the correspondent month last year, with the annual growth at 142%.
In the first ten months of the year, the top selling manufacturer was Honda with 44.135 units (-13.3%) ahead of Piaggio with 34.841 (-12.3%) and Yamaha with 24.907 (-0.4%).
Looking at the emerging segment of electric models, the best seller this year is Silence landed this year in the market and already first with 2.554 sales, well ahead of the former leader, the italian Askoll with 1.906 units (+21.2%) and recently launched Chinese NIU with 1.405 (+94.9%).
So far the electric vehicles demand was mainly fuelled by fleet and rental business segment. Matched with our expectations, August and September showed a boom on private consumers demand, thanks to the e-incentives put in place by the government.
Market Outlook 2020-2025
In the short term the market will struggle for the impact of covi19 second wave and sales are expected to be negative in double digit in the next four months. Market can be even hit by higher price for certain models, due to the introduction of Stage 5 emission rules for the European Community zone.
However, in Italy as in all the other main motorcycles industry, the demand for individual mobility has been boosted by covid19. This trend could even be reinforced by the new restrictions and as soon as the local and regional shutdown will be reduced, people will search for a new bike more than in the past.
For this reason, our forecast for the next years are almost positive and the 2021-2025 sales growth has a deeper growing curve than before covid.