ECONOMY

Motorbike sales set to reach record high this year

Sales of motorbikes are to reach record levels in Greece this year, exceeding 60,000 units, according to a study by the Foundation for Economic and Industrial Research (IOBE) published yesterday. Greeks choose to go on two wheels to beat traffic jams, with sales of motorcycles in the last decade up by 8.2 percent year-on-year and mopeds up by 2.9 percent on average. The recent lowering of taxes that drove prices down and the various financing programs offered by dealers have contributed to the rise in sales, along with advertising and progress in technology. Internationally, competition among manufacturers keeps prices low while quality improves. The local market’s outlook is particularly positive, says the study, despite the very small local bike production. Greeks’ first choices are Italian motorbikes, with a market share of 27.5 percent, with Japanese and German ones in second and third place, respectively. IOBE stresses the need for better roads, the more so since motorbike numbers are expected to rise further in Greece in the next few years. The poor quality of the Greek road network limits the market’s expansion, which would also benefit from better rider training and licensing, the study concludes.