Long goodbye for pre-regs

Although registrations negativity is gradually reducing, there is still no escape from the blunt fact that a considerable quantity of pre-registered stock continues to distort the market.

April’s total headcount of new bikes plated dropped by 14.6% to 8506 units. Motorcycles and over-50cc scooters were 13.7% down to 8085, while mopeds and trikes respectively dived by 28.3% to 359 and 28.7% to 62. Internal combustion powertrains ruled the roost as ever, despite a 13.4% slide to 8265. The increasingly minimalist battery-electric presence shrivelled by 41.8% to 241 units.

Perhaps identifying where many of those unsold pre-reg machines are parked, the 0-125cc mobility and short-haul delivery range’s uptake on fresh products fell by 21.7% to 2605. Best-seller status went to a 275-strong fleet of Honda PCX 125 scooters, which probably represented a lot of derogated stock. The budget 126-500cc slot also suffered, sinking by 21.1% to 1489. At least a new model, the extremely cheap Honda GB350S, topped that particular sales summit.

Stepping up into middleweight territory, 501-750cc kit was only 7.6% down at 1145, with leadership from Honda’s NC750X. And then saving grace came from 8.4% growth to 1725 for the solidly enthusiast 751-1000cc range. Triumph’s Tiger Sport 800 claimed best-selling honours. But the new and impressively budget-oriented Honda CB1000 Hornet wasn’t far behind. After that, 1000cc-plus premium products were rather disappointing, 13.4% down to 1301. BMW Motorrad’s bog-standard R1300GS took best-seller accolade.

The MCIA best-selling brands chart inevitably conceals complexities. These span the ongoing preregistrations, sell-through, and early-season new stock availability (or shortages). The three podium sitters’ April new bike registrations posted declines that were broadly in line with the gaps being filled by pre-reg activity — which obviously they are all incentivising dealers to clear up as soon as possible. Respectively, Honda fell by 11.8% to 1742, Triumph by 14% to 874 and Yamaha by 11.5% to 850.

BMW in fourth sank by 33.7% to a much lower figure of 552, probably reflecting a purely seasonal stock deficit following the new-plate surge in March. Kawasaki in fifth spot was barely touched, just 1.3% down to another low tally of 457, suggesting stock absence rather than pre-reg issues. But Royal Enfield had plunged by 30.3% to only 371 new machines sold, thinly disguising a surfeit of pre-reg volume in urgent need of disposal.

Suzuki had the opposite problem, 46.4% up to just 309 and selling everything it could to shift into dealer showrooms. Conversely, Lexmoto was 46.9% down to 270, a classic victim of the pre-reg trap. Finally, KTM also plunged, 48.9% down to a mere 269. That, however, could be laid at the door of dire supply-chain straits subverting its output from Mattighofen. Some 229 Ducati products were tacked on the end, too, with no comparison because it didn’t figure in the April 2024 MCIA chart. And a pinch of salt could be inserted as well, given our blatant guesswork.

To conclude, the YTD state of play at stood at 29,250 new bike registrations and a notional missing 8662 machines adrift, at the end of April. Quite when we will return to dealing in meaningful data is open for debate.

To come…