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iMotorbike Budget 2023 Response

7th October 2022 – iMotorbike, Southeast Asia’s pioneer e-commerce platform for buying and selling preloved motorbikes, believes the initiative by the government to allocate a RM10 million to subsidise the cost of obtaining a Class B2 motorcycle licence through the Skim Tekun MobilePreneur programme under Budget 2023 will help revitalise the country’s economy.

With businesses opening up and an increase in inflation rates as well as higher fuel prices, we expect to see more people turning to bikes as a mode of transportation and as a means of generating income. This government initiative will allow more people to mobilise for work quickly and affordably. More than 47,000 new licences are expected to be obtained under the subsidy.

Two-wheelers remain a viable, low-maintenance option for many commuters, e-commerce riders and micro tourism operators, amongst others. According to the Federation of Asian Motorcycle Industries, new motorcycle purchases in Malaysia to-date have hit 501,587  units, already surpassing last year’s total of 499,175 motorcycles. There are an estimated 16 million registered motorbikes in Malaysia currently.

We recognise that owning new motorcycles may be financially steep for some, and as such, iMotorbike offers affordable pre-loved motorbikes – including in the B2 category –  with guaranteed quality as all bikes have undergone and passed a minimum 170-point inspection. Motorbikes purchased through iMotorbike also include a 6-day return policy and 6 months warranty – which gives peace of mind to buyers. The process is also fast, secure and simple as we also offer insurance & roadtax service.

iMotorbike has seen a 20 percent increase in quarterly sales in the pre-loved motorcycle market this year. Our site has over 150,000 monthly visitors and 5,000 registered dealers from across Southeast Asia where we operate.

On electric motorcycles, the volume in Malaysia is currently low. We welcome more of such bikes to be traded on our platform as the country moves towards a greener economy.