The average price of a motorcycle sold in Taiwan reached NT$55,000 per unit last year, up 38 percent from eight years earlier, the Ministry of Economic Affairs said yesterday.
Last year’s figure compares with an average price of less than NT$40,000 per unit before 2008 and up from NT$53,100 in 2014, the ministry said in a report.
Prices have trended higher in recent years as manufacturers have added more sophisticated features to their products, such as electronic fuel-injection devices, on the back of increased environmental awareness, the report said.
With more public attention being given to air pollution and carbon reduction issues, the government set a new standard for motorcycle emissions in 2009, requiring manufacturers to upgrade fuel-injection systems to electronic ignition.
The new regulations have increased the requirement for more advanced equipment and made motorcycles more expensive, the report said.
It said that the addition of large motorcycles, models of 251 cubic centimeters or bigger, and electric scooters to the market has also contributed to rising prices.
Meanwhile, domestic sales of motorcycles dropped from 869,000 units in 2008 to 694,000 units last year due to the completion of MRT lines and the growing popularity of YouBike services since 2009, the ministry said.
Motorcycle exports decreased from 558,000 units in 2007 to last year’s 200,000 units because of market changes, the ministry said.
The report said that Taiwan’s motorcycle market has shifted to a focus on domestic sales, as the ratio of domestic to foreign sales has increased significantly from 57.5 percent in 2007 to 77.3 percent last year.
IMPORTS
In addition, imported motorcycles have shown double-digit percentage growth over the years, as large motorcycles are becoming popular in Taiwan, especially following regulatory approval four years ago for them to use major roads, the report said.
‘GREEN’ BOOST
Motorcycles, which are one of the most popular forms of transportation in the nation, are expected to see an increase in production and price thanks to the promotion of “green” energy and the government’s incentive programs aimed at consumers, the ministry said.
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