It's no coincidence you've been noticing a lot more motorcycles on the road these days as vehicular congestion continues to pose problems for motorists on a daily basis.
President Armando Reyes of the Motorcycle Development Program Participants Association (MDPPA) spoke to the media yesterday regarding the tremendous growth of the motorcycle industry in the country, partly caused by the traffic congestion that has forced consumers to buy motorcycles instead of four-wheeled vehicles.
Motorcycle industry sales in the Philipines is expected to reach 1.68 million units this 2017. That's only 40,000 units short of Thailand's current sales volume of 1.72 million units.
The MDPPA has noted that the country's gross domestic product (GDP) and per capita GDP as well as available financing and easier terms of payment from local dealers has made purchasing motorcycles easier and more affordable.
Composed of motorcycle manufacturers Honda, Kawasaki, Suzuki, Yamaha, and Kymco, the MMDA predicts that the sales of their brands will collectively grow by 12 to 15-percent at the end of the year.
In 2016, sales of units from MDPPA members grew by 34-percent to 1.14 million units from only 952,570 in 2015.
Moped motorcycles dominated sales among MDPPA members with 418,043 units followed by automatic transmission models at 274,104 units.
Sales in Luzon made up 60-percent of the total volume, followed by the Visayas and Mindanao, each with 20-percent.
Next year, the MDPPA eyes sales to reach 1.9 million units.