The looming collapse of an Australian motorcycle giant is a direct result of falling consumer confidence amid a cost of living crisis.
News that dealer giant Peter Stevens Motorcycles fell into voluntary administration rocked the motorcycle industry this week. But it’s bigger than that, representing a warning shot for the economy as a whole.
Motorcycle sales in Australia have declined steadily in recent years, dropping from 123,530 annual sales in 2021, to 94,224 last year.
Federal Chamber of Automotive Industries chief executive Tony Weber said “motorcycles are often a discretionary purchase, and in the current environment of high living costs and interest rates, many Australians are understandably more cautious with their…
