What you need to know about motorcycle dealers and the motorcycling industry
A new report released by the nonprofit Center for Responsible Government (CPRG) reveals that motorcycle dealerships in the U.S. have become the most profitable business in America.
According to the study, between 2008 and 2017, the industry grew at an annual rate of 7 percent.
The study also shows that dealerships were responsible for more than $10 billion in annual revenue, accounting for nearly a third of the industry’s total revenue.
While this may not sound like a lot, it’s more than double the total sales of the entire automobile industry, which accounted for only $3.7 billion in revenue in 2008.
The study shows that motorcycle sales accounted for nearly 90 percent of total U..
S motorcycle sales between 2007 and 2017.
According the report, this figure will continue to grow as more states legalize recreational use of motorcycle and driverless vehicles.
The report also found that motorcycle dealership revenue is projected to continue to increase as the demand for motorcycles continues to grow.
“The growth in motorcycle sales in the last decade has been driven by the growing demand for the product, coupled with the increase in the supply of dealers,” wrote CCRG President and CEO Scott Hargreaves.
“The motorcycle industry is an important part of the U,S.
economy and its success will depend on how consumers, consumers, and manufacturers adapt to a changing and growing market for motorcycles.”
Hargreasts stated that the number of motorcycle dealers in the United States has increased from approximately 40,000 in 2008 to nearly 60,000 today.
The industry’s expansion has been fueled by new technologies and an explosion in demand for motorcycle parts and accessories.
“Over the past decade, the number and type of motorcycle parts sold increased at a rate of about 25 percent annually, reaching a high of over 200,000 parts per million in 2020,” Hargres said.
“We believe that the demand and supply of motorcycle products is continuing to grow and, at the same time, the supply will continue growing, which will allow more and more dealers to compete with each other and drive up sales.”
The report also reveals that the motorcycle industry was responsible for $10.7 trillion in revenue, which was $1,096 per person.
Hargreyes stated that over this time period, the motorcycle sales industry generated nearly $1.2 trillion in income, which is about a quarter of the total revenue from the auto industry.
The report found that while the motorcycle dealers are responsible for over $10,000 of total motorcycle sales, the cost of producing and distributing motorcycles is a staggering $2.2 billion.
This includes the cost to produce and install and maintain the equipment, as well as to purchase and store the equipment.
This is the cost that many of the motorcycle companies and the manufacturers that own them are paying to the government and the companies themselves.
“These businesses need to be regulated, and if they are allowed to operate, they need to operate responsibly,” said Hargreys.
“They need to have the public’s support and they need help in complying with the law.”