Motorcycle tire sales have been slow in the past few years, but new research by the University of Michigan shows that motorcycle tires are selling at higher rates than they have in years past.
According to a new report from the University’s Automotive Research Institute, the average monthly sales of motorcycle tires increased by 7.6 percent in 2016, the latest year for which data is available.
That’s up from 5.7 percent in 2015.
The report notes that while that increase is “small,” it’s a significant increase for the industry.
Tire sales have historically fallen when inflation rates rise.
That’s because the cost of producing new tires for the market is higher than the price of new tires.
The number of motorcycle tire sales also rose in 2016.
That increase was about 6.3 percent, the fastest growth in a decade, the report said.
Tires accounted for nearly a quarter of the new motorcycles sold in 2016 according to the U.S. Bureau of Transportation Statistics.
That number is up from less than 2 percent in 2011.
The new report notes there were 1.6 million new motorcycles registered in the U, up from 1.3 million in 2016 and down from 1 million in 2011, according to U.