OCTOBER PUTS BRAKES ON MOTORCYCLE DEMAND
Published 09/11/2016 00:00:00 in Press Releases
“Demand in the motorcycle market cooled in October recording a growth of just 0.3%,” said Stephen Latham, Head of the National Motorcycle Dealers Association (NMDA) which represents motorcycle retailers across the UK.
A total of 8595 units were registered in October 2016 – just 22 more bikes compared to the same period in 2015.
Latham continued, “There was substantial growth in the naked and scooter categories which both saw increases around 7%. For the first time in many months, bikes in the 51 – 125cc sector recorded a slight decline of -1.7%
“Following our vote to leave the EU, motorcycle riders are concerned what affect a long drawn out and protracted exit negotiation will have on their employment security, inflation and their ability to retain their current living standard. Also, we have seen the devaluation effect on our currency with a few manufacturers increasing their retail prices. There is certainty that in the coming months no brand will be able to sustain the devaluation of sterling much more. All these are factors which could be influencing buyers to delay replacing their current motorcycles.
“More positively, we are confident that the residual values of 2 - 3 year old motorcycles will remain strong, and this in turn will enable consumers to change their bikes and to take out new PCPs at competitive prices.
“Overall dealers remain optimistic that demand will hold up near to the current year-to-date growth figure of 6.7%, and as the final push come to move on the last of the Euro 3 machines prior to the January deadline.”
NOTES TO EDITORS: Results taken from the Motor Cycle Industry Association Press Statistics October – New Motorcycle registrations.
Rupal Rawal, Press Officer
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The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.