"Motorcycling is playing a bigger role in our fast-changing world and many of the trends we were hoping to see some twenty years ago have become reality," said MIC President Tim Buche. "Household penetration over the past five years has increased by 1,516,610 individuals or 20%. As an activity, a form of transportation or a lifestyle, motorcycling still has tremendous room for growth, but two-wheeling has made significant inroads among various key demographics and is a larger part of American culture than ever."
Other key findings showed significant financial advantages of motorcyclists ahead of the four-wheeled owners. Owning a motorcycle is much more affordable compared to having a car, not to mention that the median household income of motorcycle owners exceeds that of the average American.
The survey also shows an increase in percentages of women and youth who turn to riding as a mobility solution. Female ownership of motorcycles increased to 12.3 percent in 2008, as younger generations have even more female riders. The youth is not to be neglected, as the industry also recognizes the importance of engaging younger customers as long-time riders begin to age out of motorcycling.
Not only the demand for the latest and greatest bikes increased over the past five years, but also sport bikes are preferred ahead of traditional cruisers. As for the expenses, touring owners spent significantly more on aftermarket purchases, including tires, repairs and maintenance, and replacement parts and accessories. Demonstrating a strong interest in gear, sport bike riders spent more on apparel than any other segment.