Imports saw a dramatic turn around in the second half of 2023. When we looked at imports of small electric scooters in August, 2023 was down ~21% compared to 2022 through the same period. This suggested a similar curve as faced by bicycles. However, imports in advance of the holiday shopping season pulled up total imports to the third consecutive year of ~13% growth.
Above we see how 2020 had abnormal growth compared to the proceeding years. Although 2023 YoY growth fell to 10%, it still stayed within the prior two years general trend.
Below we see the monthly sales by year, with 2023 highlighted. We see here how imports climbed strongly in August, September, and October, likely in anticipation of holiday demand. November continued this trend before falling off precipitously in December.
The upward trend of imports highlights the significant importance of holiday sales for the scooter industry, and how limited the affect of early season imports has on total year imports.
Finally, we see January imports in early 2024 have continued to grow, with a slight increase in the pace of growth. We’ll continue to monitor imports to see if 2024 presents another year of import growth.
