Motorcycles fall out of favour as cheap car COEs flood the market
Sales fell 30% in 2014.
Motorbikes are falling out of favor among Singapore-based buyers as Certificates of Entitlement (COEs) become cheaper.
According to BMI Research, motorbike sales fell a whopping 30% in 2014, with only 8,145 units sold last year compared to 11,650 units in 2013.
“The fall in COE prices has made cars more attractive once again and we expect this trend to continue in 2015. We forecast motorbike sales to grow at an annual average of 3.0% over the 2015-2019 period to hit 9,442 units by 2019,” BMI Research said.