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Monday, September 12, 2005
Motorcyle demand up by 28%
Motorcycles are becoming more popular these days due to the increasing cost of fuel, worsening traffic conditions in the urban areas, like Cebu, as well as the need for greater mobility, changing lifestyles and the growing awareness that bikes are safe, an industry player said.
In a statement, Norkis Yamaha said that according to the registration statistics of the Land Transportation Office, the demand for motorcycles has been growing by an average of 28 percent annually since 2001.
This has encouraged Norkis Yamaha to set a minimum sales target growth of at least 25percent this year, and perhaps increase the target later, despite the stiff competition in the market due to the entry of cheaper motorcycle brands.
Norkis said the global market for the solo motorcycles is fast growing. The segment now accounts for 80 percent of the local industry’s sales.
Sales
In the past, the market was almost evenly distributed between the solo and the tricycle, a popular mode of transportation invented by Norkis president Nor-berto Quisumbing in 1963.
Norkis expects industry sales to be over a million units a year in the near future. Thailand’s motorcycle industry sells as many as two million units annually.
“Norkisans are cognizant of the tremendous potential market that the solo riders could offer,” the statement said.
To strengthen its foothold in this growing market, Yamaha Motor Corp. Ltd. of Japan repositioned itself by coming up with a variety of state-of-the-art motorcycles that cater to the changing lifestyles, especially of the youth.
Environment-friendly, fashionable and sporty Yamaha solo models—fourstroke Crypton-R, Cyrpton-Z and hybrid mopeds like Nouvo and Mio—were introduced in the Philippines in 2004.
Increase
“These models were instant market hits. Norkis—the Philippines’ exclusive distributor and manufacturer of Yamaha motorcycles, spare parts and accessories—posted a 21 percent increase in sales,” said Manuel Albos, Norkis group managing head for marketing.
Norkis Yamaha has positioned itself to respond to the growing market preference for trendy and reliable bikes that are now becoming more of a statement of lifestyle and success rather than a source of livelihood, which was what they were known for for four decades, Norkis said. (JBN)
(September 11, 2005 issue)
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