While new bike sales in the U.S. have seen better days, motorcycle ownership is doing well.
According to the Motorcycle Industry Council, 8 percent of U.S. households had a motorcycle in 2018, the most ever recorded by the MIC. It’s a slight increase from 6.94 percent in 2014, the last time the MIC conducted a full survey.
Per the release, “the United States Census Bureau’s most recent estimate put the number of U.S. households at 126,224,000. The MIC Owner Survey found that 10,124,400 of those homes had a motorcycle.”
“The household penetration numbers have always been among the most important figures to us,” said MIC President and CEO Tim Buche. “We’re certainly happy to see more homes that have a motorcycle. Riders who talk about motorcycling to friends and neighbors help to inspire people who don’t yet ride.”
In addition, the MIC is reporting that the total number of motorcycle owners has reached record levels, with 13,158,100 motorcycles around the U.S. The MIC says it’s an increase of more than 2.5 million motorcycles compared to 2014.
How is it possible that new bike sales aren't soaring but motorcycle ownership is growing? Because of the used bike market, really.
“Modern motorcycles are high-quality machines, enabling the pre-owned market to be a key part of the overall growth in the motorcycle and rider population,” said Jim Woodruff, secretary/treasurer of the MIC Board of Directors and COO of National Powersport Auctions. “The annual pre-owned market is actually three times larger than the new market. Used bikes appeal to many riders because there are so many options in terms of price and style.”
You can read the entire release here.