U.S. Motorcycle and Bicycle Price Reduces Slightly to $554 per Unit
U.S. Motorcycle And Bicycle Import Price in April 2023
In April 2023, the motorcycle and bicycle price amounted to $554 per unit (CIF, US), dropping by -2% against the previous month. Overall, import price indicated resilient growth from April 2022 to April 2023: its price increased at an average monthly rate of +5.3% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on April 2023 figures, motorcycle and bicycle import price decreased by -25.1% against December 2022 indices. The most prominent rate of growth was recorded in December 2022 an increase of 51% m-o-m. As a result, import price reached the peak level of $740K per thousand units. From January 2023 to April 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In April 2023, the country with the highest price was Taiwan (Chinese) ($1,365 per unit), while the price for China ($148 per unit) was amongst the lowest.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by Cambodia (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Motorcycle And Bicycle Import Prices by Type
Prices varied noticeably by the product type; the product with the highest price was motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, with or without side-cars; side-cars ($1,602 per unit), while the price for bicycles and other cycles totaled $162 per unit.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was attained by motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, with or without side-cars; side-cars (+2.4%).
U.S. Motorcycle And Bicycle Imports
In April 2023, motorcycle and bicycle imports into the United States expanded remarkably to 928K units, increasing by 12% compared with March 2023. Overall, imports, however, saw a abrupt shrinkage. The growth pace was the most rapid in September 2022 with an increase of 16% month-to-month. Imports peaked at 1.9M units in April 2022; however, from May 2022 to April 2023, imports failed to regain momentum.
In value terms, motorcycle and bicycle imports rose markedly to $515M (IndexBox estimates) in April 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2022 with an increase of 19% against the previous month. As a result, imports reached the peak of $707M. From November 2022 to April 2023, the growth of imports failed to regain momentum.
U.S. Motorcycle And Bicycle Imports by Type
In April 2023, bicycles and other cycles (675K units) constituted the largest type of motorcycle and bicycle supplied to the United States, accounting for a 73% share of total imports. Moreover, bicycles and other cycles exceeded the figures recorded for the second-largest type, motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, with or without side-cars; side-cars (253K units), threefold.
From April 2022 to April 2023, the average monthly rate of growth in terms of the volume of import of bicycles and other cycles stood at -6.9%.
In value terms, motorcycles (including mopeds) and cycles; fitted with an auxiliary motor, with or without side-cars; side-cars ($405M) constituted the largest type of motorcycle and bicycle supplied to the United States, comprising 79% of total imports. The second position in the ranking was taken by bicycles and other cycles ($109M), with a 21% share of total imports.
U.S. Motorcycle And Bicycle Imports by Country
In April 2023, China (745K units) constituted the largest motorcycle and bicycle supplier to the United States, with a 80% share of total imports. Moreover, motorcycle and bicycle imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (66K units), more than tenfold. The third position in this ranking was held by Cambodia (36K units), with a 3.9% share.
From April 2022 to April 2023, the average monthly growth rate of volume from China amounted to -5.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: Taiwan (Chinese) (-2.7% per month) and Cambodia (-11.7% per month).
In value terms, the largest motorcycle and bicycle suppliers to the United States were China ($110M), Taiwan (Chinese) ($90M) and Cambodia ($20M), together accounting for 43% of total imports. Vietnam lagged somewhat behind, accounting for a further 3.5%.
Among the main suppliers, Vietnam, with a CAGR of +4.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.
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