The European MC industry has seen a lot of growth, especially in Q1 of 2019. Sales are up almost 20%, which is quite impressive.
This data is collected from over 37 markets, and it covers Russia and Turkey.
The European economy experienced some tough time in Q4 2018. While the economic backdrop is still somber, given the uncertainty on Brexit, there are signs of stability. Retail sales were up in January and unemployment in Europe is still quite low. The low oil prices have also helped to keep inflation at bay.
The MC Market
The motorcycle market appears to be doing quite well in Europe right now. The data is collected from 37 nations and it shows 2019 started off well for the MC industry.
Growth was above expectation, which is partly driven by the growth of electric-powered MCs. Despite the economic environment not being so great, the MC sector appears headed for more growth.
It is worth noting that the motorbike segment has been seeing growth for years. In the 2019 Q4, most of the growth appeared to have come from the scooter segment. The electric segment has seen the most growth at about 42.3 percent
France was the largest source of growth for the MC sector; it had a sales growth of over 31.8 percent. Italy came in second, followed by Spain, Germany, Turkey, the UK, Netherlands, and Belgium in that order.
In 2018, sales were not good with the growth of -1.3 percent. In fact, the European market has not been doing well in the motorcycle world for a decade. In fact, Europe only accounts for 2.4 percent of the motorcycle sector. France retains the position of being the largest MC market in Europe.
The Market Look Good Overall
The latest growth in sales is quite positive. The best part about it is that environmentally friendly motorbikes have seen a spike in sales.
There is also the issue of the upcoming Euro 5 environmental standard. It will ensure that all motorbikes in the EU comply with an even higher standard of environmental sustainability.
With the recent adoption of clean energy MCs, the future looks promising for the MC sector in Europe. It is worth noting that the growth is taking place despite the tariffs imposed on European bikes in the US market.
One reason for the growth could be in the fact that the bike war instigated by the US over tariffs has helped to promote awareness on bikes. A good example of the growth in the bike market is XLmoto. The company is now the largest MC store in Europe.
The Future of the European Motorcycle Sector
The European MC sector will not experience a slow death, only a fast rebirth. It is also worth noting that while Japanese makers shifted attention to the mass market, the European manufacturers have shifted to premium products.
For the industry, it has risen to meet any technological challenge and create desirable bikes that are generating interest from European consumers.