Registrations declined once again in February, falling short of 2022’s tally by 7.6%. However, like January, February is a typically low-volume registration month, with the difference being just under 400 machines.
Although the cost of living and high interest rates continue to be a concern, the next few months will give a more accurate indication of how the market is performing as the season fully begins.
Recent feedback from dealers suggests that enquiries and forward orders were relatively buoyant in February, with some reporting more muscular activity than last year. However, increasing interest rates have hindered customer finance penetration, with consumers choosing to self-fund instead. Overall, dealers remain cautiously optimistic about the season ahead, with new models due to arrive in dealerships imminently, which is expected to boost demand further.
Stock supply continues to improve, with dealers reporting a stronger position than last year, albeit longer lead times remain on certain models. Demand is stable across the board, but naked, modern classics and adventure machines are particularly sought after.
Paul McDonald
Leisure Vehicles Editor