MOTOR Trader 2024

Peter Chu From the Publisher A lthough the chip shortage in 2023 has been eased, due to factors such as epidemics, high inflation, high interest rates, high fuel costs and China's economic recession, as well as international situations such as the Ukraine-Russia war and the Israel-Palestine war, the sales of gasoline-powered motorcycles have shrunk, while the sales of electric motorcycles have grown slightly compared to last year, indicating that the public's choice of motorcycles has shifted significantly to electric motorcycles. Overall, Taiwan's export growth rate has turned from negative to positive in September 2023, and is expected to continue to grow in the fourth quarter. The cumulative number of motorcycles exported from Taiwan in October 2023 was 130,087 units, a 10.12% increase compared to the same period last year. Looking to the future, global demand for commodities will recover in 2024, boosting global trade growth. According to the International Monetary Fund (IMF), the annual growth rate of global trade growth in 2024 is expected to increase from 0.9% in 2023 to 3.5%. In addition, it is expected that economic inflation will gradually slow down in 2024, and the FED will cut interest rates, so the overall motorcycle consumption market is relatively optimistic compared to 2023, and is likely to grow slightly. In addition, under the influence of net-zero carbon emissions in 2050 and the European Union's expected implementation of a carbon tariff (CBAM) in 2026, automobiles and motorcycles are moving toward full electrification. It is estimated that the global electric motorcycle market share will increase to 8% in 2023, with the Asian market accounting for more than 90% of the total. In Taiwan, the National Development Council (NDC) announced the "Taiwan 2050 Net Zero Emission Pathway and Strategy", which sets the target for the electric motorcycle market share to reach 100% by 2040. In March 2023, a Taiwanese company, Gogoro, will launch community stores to follow the trend of electric motorcycles and to comply with Taiwan government’s policy. Gogoro's main focus is to provide instant repair services without the need to make an appointment, and it aims to set up 150 stores in 2023 to achieve this goal. By that time, the electric motorcycle market will become more stable. 2024 The premier motorcycle & parts buyer’s guide Photo/EICMA 10