Superbike segment is slow but steadier in Singapore

THE Singapore exotic superbike market is relatively resilient compared with other countries in Asia, and sales may have slowed because of the economic crisis but they remain steady, say importers.

Mean machine: Ducati sales here have picked up in the last two months

About 2,500 big bikes were registered here in 2008. Within these, there is a superbike segment that is mainly dominated by the Japanese makes, which can cost from about $30,000 to $40,000.

Then there is the niche exotic Italian superbike, which is even more expensive. A motorcycle bearing a Ducati, MV Agusta or Bimota nameplate can cost as much as $135,000, or about the same as a Mercedes-Benz C180 sedan.

But someone eyeing one of these extremely pricey two-wheelers is more than willing to shell out the money because of their performance and rarity.

'It's a 'want' thing, not a 'need' thing,' explains Tiffany Pan, marketing manager for Minerva Motor, the importer for Ducati.

She says Ducati owners enjoy their bikes as a hobby.

'Not many owners use a Ducati for transport; it's their weekend ride. They normally own a Ferrari or a Lamborghini and now they want a Ducati.'

But the onset of the economic crisis led to sales slowing down late last year, says Ms Pan. Minerva Motor also experienced dismal numbers in the first quarter of 2009 - a total of 12 Ducatis sold in those three months.

However, volume has since picked up. April saw 10 bikes roaring out the showroom, while May racked up 13 units.

'People still have a need to get a new toy,' explains Ms Pan, referring to the spike.

Last year, Minerva registered a total of 101 units locally, mainly to male buyers. Currently, the model range is priced between $21,700 and $95,000.

A limited edition model, the Desmo Sedici, was even more expensive at $135,000. But Minerva says this road-use version of Ducati's MotoGP racing bike has since sold out.

The company also distributes Ducati in Indonesia, the Philippines, Thailand and India. But so far, the Singapore market has been the first to register a sales bounce.

'The rest of Asia seems to be feeling the pinch more than Singapore,' says Ms Pan.

The importer of MV Agusta agrees. Hong Seh Superbikes, which also has the distribution rights for Thailand and Indonesia, says sales in these two Asian markets are half of Singapore's.

Still, the Republic's demand for the handcrafted bikes, which range from $48,000 to $65,000 here, is low mainly because of supply, says Hong Seh executive director Edward Tan.

But 'demand is steady because those who can afford luxury toys tend to be less affected by the crisis'.

Hong Seh has been selling 'one or two' MV Agusta models each month since it began representing the brand in November 2008.

'The bikes are very fast and very stable but also very rare because of their small volume,' says Mr Tan, explaining that factory output is limited to only about 6,000 units annually.

'They are handcrafted and every engine is tested on the bench,' he adds. So far, all buyers of MV Agusta here have been male, in their mid-20s to early 50s and are businessmen or professionals like doctors and pilots.

Mr Tan says Hong Seh expects to sell about 20 bikes a year in Singapore. But then, Asia is a relatively small market for MV Agusta. Only 5 per cent of last year's total volume was headed to this part of the world.

As expected, Italy accounts for the bulk of MV Agusta sales, absorbing 39 per cent of 2008's global sales. The rest of Europe follows with 36 per cent. while North America takes up 10 per cent.

As for Bimota, it is an even rarer sight on the road. The stunningly designed Italian brand recently reappeared in the Singapore market with this year's BikeAsia trade show but most examples are said to be kept as a showpiece for the owner's visual enjoyment.