INDIANAPOLIS, IN – February 18, 2011 -(Motor Sports Newswire) – The Motorcycle Industry Council (MIC) today announced two new initiatives – Quarterly Retail Sales Forecasts and Make/Model Program – that will produce vital industry data to support strategic business planning by its member companies.
The MIC Retail Sales Forecast is a proprietary member benefit and will forecast sales trends by segment. Inputs to the model will include retail sales, dealer information, regulatory updates, owner survey data and economic trends. It also will integrate feedback from a panel of recognized experts who will comment on industry issues, trends and observations.
“For more than twenty years, MIC Retail Sales Reports have kept members up to date on recent market trends with timely, accurate data on retail sales,” said Tim Buche, MIC president. “Looking forward, the Retail Sales Forecasts will give our members important data to assist them with their future analysis and planning efforts.”
The MIC Make/Model database will standardize current and historical vehicle attribute data, eliminating unnecessary work within the powersports industry and resulting in significant cost savings for MIC’s members and industry companies, such as insurance and finance providers, as well as aftermarket manufacturers and distributors.
“Having access to standardized data is a major benefit because everyone is using the same language and making decisions based on the same data,” Buche said. “This type of vehicle information will be available quickly via computer and will assist in numerous sales and marketing strategies, including research, sales planning, sales analysis, and forecasting.”
The Make/Model Program will document vehicle information by manufacturer and model name, and the collected information will be maintained in a database. In addition, the program will break out attribute details such as vehicle type, engine configurations and more – creating a virtual storehouse for information on thousands of models. The MIC will collect, update and provide secure distribution of the data to participants and consumers of the program.
The MIC’s direct access to its member companies and hands-on management of data will ensure that complete and accurate model representation is documented and delivered to the powersports industry.
The Motorcycle Industry Council exists to preserve, protect and promote motorcycling through government relations, communications and media relations, statistics and research, aftermarket programs, development of data communications standards, and activities surrounding technical and regulatory issues. As a not-for-profit, national industry association, MIC seeks to support motorcyclists by representing manufacturers and distributors of motorcycles, scooters, motorcycle/ATV/ROV parts and accessories, and members of allied trades such as insurance, finance and investment companies, media companies and consultants.
The MIC is headquartered in Irvine, Calif., with a government relations office in metropolitan Washington, D.C. First called the MIC in 1970, the organization has been in operation since 1914. Visit the MIC at mic.org.