July 26, 2020
This pandemic has presented many restrictions and limitations for every single sector of society and especially different industry sectors. Many industries and companies within those industries are significantly struggling just to keep their heads above water. One of the industries that had initially been hit the hardest were interestingly the car and motorcycle parts industry. The reason is that many people simply would not leave their homes due to the pandemic and would rather stay in the comfort and safety of their homes as much as possible. There has also been a growing number of people who are now working from home and therefore there are less people leaving their homes using their vehicles. And obviously the less people leave their homes, the less people will be using their vehicles. And as less people used their vehicles, there was a smaller chance that their motorcycles would break down. And if motorcycles don’t break down there is no need for new aftermarket and OEM motorcycle parts. But this is actually changing and now the demand for motorcycle parts is actually increasing.
How has demand for aftermarket and OEM motorcycle parts increased?
When the pandemic started in most countries around the world, the common belief was that it will all be over after a few months. But now, over 6 months has passed and the number of corona infections and the spread of the virus does not at all seem to be slowing down. And with this sad realization most of us have had to come to terms with the fact that this virus is here to stay for the foreseeable future. So slowly more and more people have accepted that this is the “new normal” and that they have to try to get used to living with the corona virus. And as a result more and more people have been going about their everyday lives like they would in the past. But most people prefer not to use public transportation anymore. Those who had a car or motorcycle have started using it more than they would before and therefore due to higher usage and depreciation, now there is actually a higher demand for aftermarket and oem motorcycle parts.
A new growth opportunity
In addition to the people who owned motorcycles and are now using them more than they did before, due to the fear and dangers of using public transportation, there is also a new group of people who did not even think about buying their own vehicles in the past. As I said, nowadays much less people prefer to use public transportation and are shopping for their own cars and motorcycles. That means those selling motorcycle parts will slowly see a huge growth in demand for parts a few months after these people buy their motorcycles.