Motorcycle Industry Is In a Decline?
The motorcycle industry has seen changes in its consumers.
Motorcycle industry is in a decline.
Baby boomers have been the main target in the motorcycle industry for the last four decades. Now the new customers are millennials but they have yet to become an important factor in the market. The motorcycle industry is in a decline. And that means it is in a transitional point. Most manufacturers, dealers, suppliers have remained focused on these baby boomers, the older aging riders, instead of the new young riders. The problem lies in that while the older riders want bigger, faster, more powerful motorcycles, the new riders don't. For the most part, those types of bikes are very expensive and younger riders don't have the same income as the generations before.
Manufactures and dealers have taken notice of the new rider trend and have started to focus on their wants. The industry knows that if it doesn't change sells will continue to decline. Some of the changes that are happening is that more female, smaller-sized riders, and beginning riders are joining the motorcycle community.
One of the companies that is starting to build bikes for these new segments is BMW. They gave U.S. customers a first look at s G 310 R. This new bike is scaled-down version of a street bike to attract younger riders. Features an off-road-friendly 17-inch rear and 19-inch front tire combination.
Honda is also making bikes for the new market with the CRF250L Rally.
Kawasaki and Suzuki are not to be left behind with their own bikes.
Kawasaki is adding a 300cc option which is seen below.
Suzuki is adding a 250cc version of the V-Strom line.
These are just a few of the companies that have decided to make scaled-down versions of their successful bikes. They all know that if they don't race to catch up to new demographics and new segments, they will continue to lose money. Even worse, lose business to other manufacturer who know how to reach the emerging market.
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