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Daytona Beach, Florida, is in the midst of a bustling Daytona Bike Week despite economic uncertainty.
Bike Week, described as the “world’s largest motorcycle event,” kicked off Feb. 28 and will run through Sunday.
Daytona Beach and the broader Volusia County are expected to see an influx of $100 million thanks to the hundreds of thousands of motorcycle enthusiasts attending the festivities, Spectrum News 13 reported.
The weeklong-event features “racing, live entertainment, scenic rides, bike shows, vendors and food,” according to a press release from the Daytona Beach Area Convention & Visitors Bureau.
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This year’s iteration marks the event’s 84th anniversary. Bike Week attracts hundreds of thousands of people each year.
FOX Business’ Ashley Webster reported Thursday from Daytona Beach that motorcycles available at the Bike Week cost anywhere from $12,000 to upwards of $50,000 or $60,000.
FOX Business’ Ashley Webster reports from Ormond Beach, Fla. during Daytona Bike Week to discuss the motorcycle industry.
He also spoke to Teddy Morse, the CEO of Ed Morse Automotive Group. Morse told Webster that business at his Harley-Davidson dealership was “very, very good.”
“We always want it to be better. I am very, very happy, never satisfied, but I’m happy,” he said.
“The joy of getting on a motorcycle is the freedom,” Morse also told Webster. “It’s those few moments – we’re so connected nowadays through everything, through our phones, through work, people – it’s that moment when you can be by yourself, and you can be alone with your thoughts.”
In the U.S., the motorcycle market hit a value of $10.48 billion in 2024, according to Grand View Research.
Harley-Davidson, one of the most well-known motorcycle makers, said in early February that its 2024 financial performance had been “significantly impacted by the continued cyclical headwinds for discretionary products, including the high-interest rate environment affecting consumer confidence.”
The corporate logo for Harley-Davidson Motorcycles is displayed at a store at Disney Springs at Walt Disney World on June 1, 2024, in Orlando, Florida. (Photo by Gary Hershorn/Getty Images / Getty Images)
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“The industry has faced many challenges over the past couple of years, impacting all levels, but we believe we are best positioned to take advantage of any uptick in consumption,” CEO Jochen Zeitz said at the time.
In recent days, a slew of industries have had uncertainty hanging over them amid the fluid tariff situation between the U.S., Canada and Mexico and how it could affect the U.S. economy. President Donald Trump on Thursday said he had put in place exemptions for Mexico and Canada on goods under the United States-Mexico-Canada Agreement until early April.
President Donald Trump speaks with members of the media on the South Lawn before boarding Marine One at the White House in Washington, D.C., on Feb. 28. On Tuesday, the Trump administration imposed tariffs on Canada and Mexico. (Reuters/Nathan Howard / Reuters)
Trump has indicated that “reciprocal tariffs” are coming in early April.
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