MIC predicts costs from lead law could reach $1 billion
The Motorcycle Industry Council (MIC) predicts the new law banning youth ATVs and motorcycles containing more than 600 parts per million of lead could potentially cause $1 billion in lost economic value for the industry, according to a press release issued by the MIC.
The potential losses could be severely damaging to the powersports industry, especially during the current economic situation, says Paul Vitrano, general counsel for MIC and Specialty Vehicles Institute of America.
“With these vehicles sitting in warehouses instead of on showroom floors, the related sales of most protective gear, accessories and parts and services are virtually non-existent,” he said in the release. “Thousands of small businesses across America are impacted by this ban.”
The prediction is based on the 2008-estimated value of the retail marketplace for ATVs and off-highway motorcycles. It does not include vehicles and related economic value not included in the ban.
For information regarding the new lead law, visit www.mic.org.
