economy

Royal Enfield will have the highest number of new models

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by Swaraj Baggonkar from https://www.moneycontrol.com Royal Enfield will have the highest number of launches this year: CEO Vinod Dasari This year, Royal Enfield is ready to introduce more models annually than ever before as the niche bike maker looks to further strengthen its iron grip on the middleweight motorcycle segment The Eicher Motors-controlled company that specialises in building bikes with engine sizes of 350cc to 650cc, currently, has its order backlog full. This can keep its factories running for the next 2-3 months without any new bookings. Speaking to analysts, Vinod Dasari, CEO, Royal Enfield, said: “We have a very exciting (product) pipeline. This year will probably see the highest number of new models that is ever seen from Royal Enfield in a year. And that is just the beginning of the pipeline.” Over the last few months, Royal Enfield launched the Meteor 350 and the new Himalayan, besides offering new colours on the 650 twins – Continental GT and Interceptor. Dasari did not provide details on the models that can be expected from Royal Enfield. “We will continue to have one new model every quarter. Because there is a delay due to COVID right now, I don’t think we will squeeze everything in but there are some very big models coming in. We are very excited about it. We will have to do all the marketing and market preparedness for that,” Dasari added. While sales of the 650 twins in India nearly halved to 10,256 units in FY21, largely due to COVID-19 disruption, Royal Enfield believes that there is space for more 650cc products. “Yes, there is a need to think about every platform. Not just the Twins, but Himalayan, Meteor and Classic. So we should think about every platform on how we can meet other kinds of customer […]

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Update from Progressive Laconia Motorcycle Week

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Come Ride in NH – Laconia Motorcycle Week, June 12th-20th, 2021 – New Hampshire – home to America’s Original Riding Rally® https://laconiamcweek.com/ Progressive Laconia Motorcycle Week® returns to the Lakes Region this June 12-20 for its 98th year. Over a quarter of a million riders are expected to attend this year after a pandemic-induced postponement to last year’s rally. The event is host to a full week of music, vendor exhibits, racing and, of course, riding. Although Motorcycle Week centers around Weirs Beach, you’ll find riders in every corner of the state, from the seacoast to the White Mountains. That’s because New Hampshire’s scenery, fresh air and accessibility are unmatched. Riders can cruise through the mountains, the state’s famed covered bridges, iconic lakes and along the seacoast, all within a matter of hours. Try that anywhere else! And unlike other events that draw such large crowds, and with that- traffic, residents and businesses embrace this uniquely New Hampshire tradition. By conservative estimates, the week-long event brings over 100 million dollars to the state’s economy each year. Restaurants, hotels, fuel & liquor sales across the state see a huge boost. It is a catalyst for countless tourism dollars, especially helpful because it occurs during the spring season, before the bustle of summer kicks in. Whether you’re a Motorcycle Week veteran or a first-time attendee, Laconia Motorcycle Week® invites you to experience the thrill of the world’s oldest motorcycle rally®. Come see history in the making as we count down to 100. Come ride in New Hampshire! Laconia Motorcycle Week® gives great appreciation to all of our sponsors, especially our Presenting Sponsors: Progressive, AMSOIL and Team Motorcycle, as well as the State of New Hampshire for their large financial support of our rally each year. For more information about visiting the state

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Why shortages of a $1 chip sparked crisis in the global economy

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by Bloomberg from https://auto.economictimes.indiatimes.com The chip crunch was born out of an understandable miscalculation as the coronavirus pandemic hit last year. When Covid-19 began spreading from China to the rest of the world, many companies anticipated people would cut back as times got tough. To understand why the $450 billion semiconductor industry has lurched into crisis, a helpful place to start is a one-dollar part called a display driver. Hundreds of different kinds of chips make up the global silicon industry, with the flashiest ones from Qualcomm Inc. and Intel Corp. going for $100 apiece to more than $1,000. Those run powerful computers or the shiny smartphone in your pocket. A display driver is mundane by contrast: Its sole purpose is to convey basic instructions for illuminating the screen on your phone, monitor or navigation system. The trouble for the chip industry — and increasingly companies beyond tech, like automakers — is that there aren’t enough display drivers to go around. Firms that make them can’t keep up with surging demand so prices are spiking. That’s contributing to short supplies and increasing costs for liquid crystal display panels, essential components for making televisions and laptops, as well as cars, airplanes and high-end refrigerators. “It’s not like you can just make do. If you have everything else, but you don’t have a display driver, then you can’t build your product,” says Stacy Rasgon, who covers the semiconductor industry for Sanford C. Bernstein. Now the crunch in a handful of such seemingly insignificant parts — power management chips are also in short supply, for example — is cascading through the global economy. Automakers like Ford Motor Co., Nissan Motor Co. and Volkswagen AG have already scaled back production, leading to estimates for more than $60 billion in lost revenue for the industry

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2020 pandemic left indelible mark on motorcycle world

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by Bud Wilkinson from https://www.rep-am.com It’s stating the obvious to say that 2020 was quite a year. While the number of miles covered on two wheels may not have changed appreciably from previous years for many motorcyclists, the places traveled probably did due to the cancellation of so many motorcycle shows and other events because of the COVID-19 pandemic. In venturing out, the wise and respectful among us always carried face masks, kept group size small and kept physically distant at all times. Others acted irresponsibly and selfishly, placing themselves and everyone they came in contact with at risk. It was while out gathering a “My Ride” classic car feature for the newspaper back in early fall that I came across a coronavirus skeptic. As I walked up the owner’s driveway, my camera bag slung over my shoulder and a mask covering my mouth and nose, he appeared out of his garage maskless. Coming to within inches of my face, he scowled and declared of COVID-19, “It’s a hoax. It’ll be gone Nov. 4,” a reference to the day after the presidential election. Stepping back, I responded that I wasn’t there to discuss the pandemic and asked if he would please keep at least six feet away; debating in my head whether I should just turn around, walk back to the truck and drive off. I stayed and did the story. Here it is just after Christmas, and people are still dying at a considerable rate because of coronavirus. The death toll in the U.S. is now close to 325,000. Some hoax. So many people have succumbed that we’ve become inured to the toll. COVID-19 certainly took a toll this year on the motorcycle industry, which wasn’t exactly in sterling shape before the pandemic. Here in Connecticut, the Stamford-based “American

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End of the road for Hawkesbury’s legendary Harley Davidson dealership

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from https://www.cbc.ca For 41 years, Goulet Motosports a gathering place for bikers, non-bikers alike An iconic motorcycle shop in Hawkesbury, Ont., has reached the end of the road after a ride that spanned more than four decades. Goulet Motosports, a Harley Davidson dealership, will close Oct. 31. “It is with nostalgia that I write this but also with pride to have had the chance to lead a retailer that has grown so much in our small town,” store owner Sophie Goulet wrote in a French post on the company’s Facebook page on Thursday. “What a wild and exciting ride it has been, meeting wonderful people, attending meetings, travelling to many cities and much more.” Goulet, who took ownership of the family business from her parents in 2001, said the decision to close wasn’t linked to the performance of the dealership, but is the result of weak regional demand for motorcycles. The news sent shock waves through the small town around 95 kilometres east of Ottawa and beyond. Hundreds of people responded to the Goulet’s Facebook post, with many expressing their sadness and sharing stories of visiting the store. Yves Charlebois, who has been working at the dealership for eight of its more than 40 years, said it served as a gathering place for bikers and non-bikers alike. “Just to think about that, the fact that … this place is going to be empty and nothing in it and no customers and no bikers coming in town, I just can’t get my head over it,” he said. “It’s much more than a dealership.” Goulet Motosports is well-established in the community, sponsoring community events such as the Hawkesbury Bike Fest, which brings together Harley enthusiasts from far and wide. The dealership also raises money for local institutions, such as the Hawkesbury General

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No masks required as 250,000 expected at 10-day Sturgis Motorcycle Rally. Here’s what to know.

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by Joel Shannon from https://news.yahoo.com One of the largest events since the beginning of the pandemic has begun in South Dakota: More than 250,000 people are expected at the iconic Sturgis Motorcycle Rally. That’s scaled down from previous years, where about half-a-million people have descended on the city of about 7,000 for an event that has developed a reputation as an anything-goes festival. While the 80-year tradition isn’t as raucous as it once was, festivalgoers will be largely free of social distancing restrictions common elsewhere in the country during this year’s 10-day festival. Bikers flocking to the small town from around the country won’t face quarantining requirements if they are from a coronavirus hot spot. And masks? They’re encouraged – not required. So far, few people are heeding that encouragement, according to an Associated Press reporter at the event. Many who rode their bikes into Sturgis on Friday expressed defiance at the rules and restrictions that have marked life in much of the world during the pandemic. “Screw COVID,” read the design on one T-shirt being hawked. “I went to Sturgis.” Local officials have made efforts to scale down the event, but some expect restriction-weary bikers to flock to Sturgis in large numbers. “It’s the biggest single event that’s going on in the United States that didn’t get canceled,” said Rod Woodruff, who operates the largest campground and concert venue that lies outside the bounds of the city. “A lot of people think it’s going to be bigger than ever.” In addition to normal concerns about crime, many locals are worried the huge crowds and lack of social distancing rules will lead to an unmanageable outbreak of COVID-19. What is Sturgis? The rally may be known for rowdy, drunken and naked shenanigans, but in recent years longtime attendees complain it

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Motorcycles Sales Bounce Back Post Pandemic Slump

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by Sabrina Giacomini from https://www.rideapart.com Rising from the ashes. To say that 2020 has been an eventful year so far is an understatement. “2020, written by Stephen King” is probably the best description of this year’s events we found so far. Of course, with a pandemic forcing most of the global population into lockdown, the health crisis was bound to have an impact on the motorcycle industry. For several manufacturers, between suspended production and customers shying away from the dealers, the months of April and May 2020 have been challenging to say the least. Thankfully, with life gradually resuming, so are sales, and the numbers are bouncing back. Things Are Going Better Than Expected: An increasing number of people and publications suggest that the pandemic will encourage more people to turn to motorcycles and scooters for transportation—the perfect type of commuter for social distancing. In the U.S., buyers didn’t waste any time running for the hills—literally—as soon as COVID-19 poked its ugly head. Honda, BMW, Suzuki, and Yamaha’s North American branches reported that sales are thriving since the beginning of the year, particularly in the off-road segment. For instance, American Honda Motor Co. confirmed that motorcycle sales for May 2020 have more than doubled over May 2019—both in the road and off-road segments (+103% and +172% respectively). For BMW North America, while official sales numbers were not disclosed, the spokesperson did say that May 2020 sales were far exceeding last year’s. The European market is showing a similar, positive trend. Italian sales numbers for June 2020 show a 37-percent increase over June 2019—not even over the catastrophic month of May 2020. More bikes and scooters sold in Italy post-pandemic than last year, back when nobody had even heard of a coronavirus. A total of 39,085 motorcycles, scooters, and mopeds have

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Harley’s New Rewire Strategy Is A Bad Idea

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by Justin Hughes from https://www.rideapart.com Why refocus the brand on capturing a rapidly shrinking demographic? Earlier this week we reported on Harley-Davidson’s latest change in direction: to abandon some of their more ambitious ideas and focus on growing the core brand, with their core bikes, in the US. While models like the LiveWire, Bronx, and Pan America are already far enough down the pipeline to continue, beyond that we can expect nothing more than cruisers, baggers, and tourers from Harley for the foreseeable future. That’s too bad. As an amateur radio operator, I have often heard the derogatory joke that the average age of one who participates in the hobby is “dead.” Sadly, that is beginning to apply more and more to the average age of a typical Harley rider. There are always exceptions. I’ve had my radio license since I was 15, and I’m actually considering an 80s or 90s Harley for a future project bike. But even I have a bit of gray in my hair and beard, something you will see in the vast majority of Harley enthusiasts. We’re only getting older. From the investors’ perspective, I get it. They’re not in it for the bikes or the culture. They’re in it for the money, and especially these days the money isn’t there. Shareholder Impala Asset Management has been arguing for a while that a change in direction is needed, and chose to act during the recent management shakeup at Harley. While we hoped this might be good for Harley, it looks like they have chosen to take what it sees as the safe path, prioritizing short term profit over the long term survival of the company. Given the crazy economic condition of the world right now, maybe that’s the right choice for now. It’s not like

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Denver Motorcycle Show reinforces industry’s new focus

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The Progressive International Motorcycle Show rolled through Denver last weekend, and if memory serves, it was the first appearance in a half-decade or so. Colorado once had a major part in non-Harley-centric motorcycle drama. The Copper Mountain Cycle Jam was a giant event that featured the AMA Supermoto circuit amongst the high Rockies and brought thousands from out-of-state. Pikes Peak International Raceway was home to an AMA SuperBike round that featured some great racing on the unconventional race course. There was even of a round national vintage racing with AHRMA at Pueblo. Those days, and that motorcycle industry is gone, casualties of the Great Recession and a millennial generation hooked on phones, not speed and adventure. So when the IMS came to town, it was a solid look at how the industry is trying to recast itself. The first clear observation was the number of women. Women have always been the great, untapped market. And between gear, smaller bikes and dropping some of the macho facade, the industry seems to be getting it. The attendees certainly did. The second was the focus on new riders. The Motorcycle Safety Foundation demo area and multi-brand new rider section took up a third of the floor. You can’t get people hooked on riding if you don’t get them on a bike first. And the industry is finally putting the full-court press on making that happen with young, old, men and women all hopping on the wide range of demo alternatives. And actually riding, on an indoor course set-up just to train new riders. The motorcycle industry is not alone in the current active sports paradox. The technology in current bikes makes them safer, more accessible and more exciting than ever. Bikes are ever more sophisticated, with electronics and computing power surpassing desktop computers

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2019 federal spending package increases infrastructure funding

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It took a while, but a 2019 spending package was finally approved by Congress, signed by President Trump, and enacted February 15. In addition to the $1.375 billion for southwest border barriers, the package also includes full-year 2019 funding levels for important federal infrastructure programs, including the Department of Transportation (DOT) and the Environmental Protection Agency (EPA), the Engineering News-Record reports. The 2019 package is the second year of a two-year, bipartisan House-Senate budget deal that included a pledge to raise overall federal infrastructure spending by $20 billion over 2017 levels. It sets the federal-aid highway obligation ceiling at $45.3 billion, up $1 billion, or 2 percent, from 2018 and equal to the amount authorized in the 2015 Fixing America’s Surface Transportation Act (FAST Act), which comes from the Highway Trust Fund. The legislation also contains $3.25 billion more from the general fund for highways, up from $2.525 billion in 2018. A 2019 “bonus” amount includes $2.73 billion for states, up from $1.98 billion in 2018, and $475 million for bridge replacement and rehabilitation, more than double the 2018 amount. Better Utilizing Investments to Leverage Development (BUILD) grants received $900 million for 2019, down 40 percent from 2018, but it was not discontinued as President Trump suggested. The program was originally called Transportation Investment Generating Economic Recovery, or TIGER. The Federal Transit Administration will receive $13.4 billion for 2019, down $67 million from 2018, with transit formula grants getting $9.9 billion and capital investment grants receiving $2.5 billion, down from $2.6 billion in 2018. An additional $700 million, down from $834 million in 2018, goes for transit infrastructure grants, which include bus facilities and “state of good repair” projects. The Federal Aviation Administration’s Airport Improvement Program was frozen at 2018’s $3.35 billion, an amount that comes from the Airport and

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