This situation has not only motivated motorcycles sales, but has also driven the development of marketing strategies to win over customers.
"The fierce competition for a slice of the cake has also unleashed a barrage of price offers, because in the motorcycle market there are some at $900, and they are being offered everywhere from appliances stores to bus terminals", reported ElSalvador.com. "But if you do not have cash, credit schemes abound. For example, Yamaha is offering $75 a month payment plans, without a deposit or guarantor. Nor do you need to have a credit record and the resolution can be obtained in 24 hours."
Another example. The store chain La Curacao has bikes available from United Motors (UM), which can be purchased with a deposit of $224.85 and a monthly fee of $82.76 for two years. Funding is through the program Credizaz and if you buy the bike, the handling of the number plates is free, and it offers two mechanical checks, a helmet, and even, for now, a DVD.
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Unicomer group recorded an increase in sales of 160%, with 310.000 motorcycles sold throughout the region each year.
Sales in Central America and the Dominican Republic have experienced remarkable growth, judging by the results from various distribution houses due to a combination of favorable prices and credit facilities.
At the end of 2011, 84,000 bikes will have been sold, 33% more than in 2010, when 62,900 were sold.
In September alone motorcycle sales rose by 30% compared to the same period in 2010.
Antonio de Leon, marketing manager of Grupo Sikamotor noted that despite the increase, the market has not recovered to 2008 levels when a total of 88,300 units were sold.