November Used Stats

Glass’s used market overview

Following two months of growth, data published by the Motor Cycle Industry Association (MCIA) showed that registrations declined by 5% in November compared to 2022. The year-to-date deficit now stands 2% behind the previous year. However, 2023 has already overtaken 2019’s pre-pandemic registration tally, with 0.8% more machines recorded. Considering economic challenges and ongoing cost of living issues, this should be viewed as positive news.

The new BMW R1300 GS continues to be a hit with consumers, with dealers reporting solid sales. Meanwhile, the new Triumph Speed and Scrambler 400 models have also been well received, with forward orders already being taken.

The 2023 Motorcycle Live Show took place at its usual venue, Birmingham’s NEC, between November 18 and 26. Feedback suggested that the first weekend was well attended with strong enquiry levels on new models. Although most manufacturers reported 2023 to be a tougher year as expected, with 2024 likely to be similar, the general vibe was positive. The show itself had a thriving atmosphere with plenty to keep the crowds entertained.

Used Motorcycle Feedback

Used sales and enquiry levels during November were fairly typical for the time of year, with variable demand but overall quieter than in recent months. 

Demand was reasonably consistent across the board, particularly for mid-range machines, appealing to many due to their relatively lighter weight. As has been the trend in recent months, offers from the public were more plentiful compared to last year and most dealers are satisfied with their stock levels.

As dealers look ahead to the 2024 season, the outlook is uncertain.   However, with ongoing reduced consumer confidence, the used market will always be a strong option for those on a tighter budget and not wanting to commit to a new purchase.

Outlook

Following another wet autumn, the UK had its first taste of winter in late November and into early December, with frost and ice for many and snow for some. Taking into account the time of year and following a significant reduction in residuals recently, Glass’s expects values to level off in the New Year.

Paul McDonald
Leisure Vehicles Editor

New brands hit the charts in December

During December, some interesting data cropped up on the MCN website. We saw the KTM 125 Duke rocket ahead of the usual Honda trio to be the single most popular bike for sale on the entire site, while over in reviews, Honda’s market share also dropped slightly, accounting for 18% of all sessions where it previously has been as high as 25%.

Suzuki’s GSX-S1000GX was a notable new bike launched last year and now it’s the most popular adventure bike on the website, while the BMW S1000 RR takes sports bike honours.

Triumph’s Trident 660 is the naked bike most people want to read about. In fact, a quarter of all sessions in the bike reviews section were attracted by naked bikes, and ditto a fifth of all sessions in our bikes for sale section.

Gareth Evans
Online editor, MCN

Bikes for Sale

Most viewed models

1. KTM 125 Duke

2. Honda CRF1000L Africa Twin

3. Honda NC750X

4. Honda GL1800 Gold Wing

5. Triumph Speed Twin 1200

6. Bmw S1000 RR

7. Yamaha R1

8. Suzuki GSX1300R Hayabusa

9. Harley-Davidson Fat Boy

10. BMW R1250 GS

MCN Reviews

Most viewed brands

1. Honda 18.0%

2. Yamaha 12.3%

3. Suzuki 10.4%

4. BMW 10.3%

5. Triumph 8.8%

6. Kawasaki 8.8%

7. Ducati 6.6

8. KTM 3.8%

9. Harley-Davidson 3.2%

10. Royal Enfield 2.9%

Latest Market Intelligence report for used Bikes

Used bike sales fell short compared to October 2022. Despite this, year-to-date volumes of used bike sales are 7% ahead of 2022. The downturn in used sales has been chiefly driven by bikes older than 10 years, where there is less supply in the market, combined with super sports and sports touring machines falling out of favour with riders as the industry prepares for winter.

The number of visits to Auto Trader Bikes remained constant, sustaining audience levels to a similar level as October 2022, resulting in a cumulative year-to-date growth of 4%.

Whilst the monthly audience hasn’t grown, engagement within the market remains high, with 67% looking to purchase their next bike within the next three months.

Lewis Norton
Insight manager, Auto Trader Bikes

Used Bikes Sold

Median days to sell

Supply continued to grow, as dealers replenished stock quickly, and therefore supply outpaced demand resulting in used bikes on average taking three days longer to sell than in October last year. Even with this slower speed of sales, used bikes sold noticeably faster than pre-pandemic levels (on average, 10 days faster). The fastest-selling bike in October 2023 was the Yamaha R125, which took an average of just 11 days to sell.

Market Health Year-on-Year

Demand for used bikes in October was slightly behind last year, and yet again growth in supply continued to outpace it, resulting in a negative market health of 10% on a year-on-year basis. While demand dipped overall, newer bikes (up to one year old) have again seen the biggest improvement in demand, although with the market bouncing back from supply constraints, these have also seen the biggest increases in supply.

Used market

As 2023 drew to a close, there was little to be optimistic about in the used market. The pattern seen since July, when economic woes kicked in, continued as the year closed. Dealers undoubtedly had their eyes on stock levels to retain control of cash flow, and the lower demand, of course, impacted the prices willing to be paid for stock.

2023 was reminiscent of seasonal variations seen a decade ago, when the excess stock did not warrant buying through the winter months in preparation for the following selling season. As trade demands are now more similar to historical seasons, the differential between the recently observed low and high price points is reverting to a more pronounced change and has been reflected in continued price drops.

Auction overview

The used market and performance in the auction halls are, of course, closely linked. As reported for several months, there has been a continued low number of bids and resultant low conversion rates.

Over this last research period, there has been no improvement; in fact the largest sale, held by BCA, realised a very low conversion rate of just a third, with an overall result that can only be described as “behind book”.