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finance firm identifies 'untapped market for used bikes'

A leading motor finance provider is calling on dealers across the country to consider how seasonal market trends and changing attitudes to bike ownership could have a positive impact on their sales this autumn.

Close Motor Finance, headquartered in Doncaster, says it has identified a broad and untapped target market for used motorcycles.

Chris Reid, who leads the motorcycle division at Close Motor Finance says: “Used bikes might not be zooming off the forecourt, but research has shown more people are becoming positive about the benefits of opting for two wheels. 

“There are currently five million people who hold a full licence in the UK. Around 1.2 million of this number are active bikers, and last year alone they bought and sold 450,000 second-hand motorcycles,” he says.

“Furthermore, research has found that one in five adults would now consider owning a bike or a scooter. That equates to around 11 million potential bikers, so there is a clear opportunity for dealers to capitalise on the growing popularity of motorcycling and convert interest into sales.

“How motorcycle dealers target this demographic is important,” Reid explains, “and it depends greatly on their understanding of why a consumer is considering purchasing a bike or scooter. Our experience suggests the main reasons include that motorcycles are usually cheaper to buy, run and maintain than cars, and they have much lower carbon emissions.

“There are also other benefits, such as the ability to avoid congestion and expensive parking charges. These are the positives dealers can promote to their target audience through either word of mouth, advertising channels or social media,” Reid adds.

“Bikes are increasingly used for commuting and we see that reflected in the popularity of 126-650cc capacity machines. It’s vital that dealers recognise the market trends so they can cater to the demand. 

“Autumn is traditionally a boom time for stock and a quieter period for sales, but what remains clear is that the market is evolving and it is full of opportunities for dealers. Data suggests that the outlook is optimistic, and there is plenty to attract buyers to the market.”



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