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COVID 19 Impact on Motorcycle Market

Mohit Loshali, Anuj Mudaliar, Shantanu Ingale*

The global pandemic of COVID-19 has severely impacted economies of numerous countries, and the probability of a recession in the near future is extremely high, with effects that are anticipated to surpass the economic recession of 2008. As the movement of people has been severely curtailed with nationwide lockdowns around the world, the manufacturing sector is highly likely to be impacted by such an adverse economic fallout. The global automotive sector is expected to be hit even harder. The global motorcycle industry has already been struggling with a number of challenges, such as a overall decline in sales, inconvenience associated with the conventional dealership system, and the imminent arrival of autonomous vehicles. In addition, the baby-boomer consumer demographic which until now has been a mainstay for the industry is phasing out. The motorcycle industry has not managed to build up interest among millennials, women, and minorities.