Why are millennials not buying motorcycles?
It appears they observed 5 reasons why millennials are buying fewer motorcycles, with the principal two reasons being college debt, and the fact that “millennials generally appear to be moving through traditional life stages later than previous generations.” They also cited decreased use of dirt bikes by youngsters, a …
Are millennials buying Harleys?
What is notable is that millennials seem to spend more on them. The average quote value for these Harleys—what a collector thinks it’s worth—is on average higher for millennials than Baby Boomers. The only group paying more for recent Harleys are Gen–Xers. That trend continues as the Harleys get older.
Why do boomers like Harleys?
Baby Boomers are approaching their social security age so why in the world do they want a Harley? Boomers are not like any of the prior groups of people who have already approached retirement. Boomers still want to continue to live their youth. Harleys offer fun, excitement, thrills and also a position of class envy.
What is the average income of a Harley Davidson owner?
Today’s median Harley Davidson owner is a white male about 47 years old, with an income of around $90,000, according to company demographics.
Why don’t millennials buy Harley-Davidson?
There’s no doubt that growing up in a recession has impacted the spending habits of Millennials, but that doesn’t tell the whole story of why young people aren’t interested in Harley. The truth is, Harley-Davidson is a luxury brand cleverly disguised as a blue-collar, workin’ man’s brand.
Are millennials taking over the motorcycle industry?
“Our data suggests the younger Gen Y [Millennial] population is adopting motorcycling at a far lower rate than prior generations,” Alliance Bernstein analyst David Beckel said in the note. “Gen Y’s are aging into the important ‘pre-family’ cohort of riders and Boomers are increasingly handing over their keys to the smaller Gen X population.”
Can Harley-Davidson attract 2 million New Riders in 10 years?
Harley-Davidson has initiated an ambitious plan to lure 2 million more riders to the brand in 10 years. Among other things, the company is setting up riding schools around the country, and it is releasing an electric motorcycle called the “Livewire.” The company also previewed two electric concept bikes earlier in January.
Is Harley-Davidson an expensive brand?
Harley-Davidson is in the same price range as BMW and Ducati, two brands with a public perception of being expensive toys for the upper-class. We’re (fellow Millennial speaking) a generation famous for not having any money, so are any analysts really scratching their heads wondering why we don’t want to spend $20 grand on a motorcycle?