Monday, June 17, 2024
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Finance provider sees sales opportunity 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* in 2011 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.

“Bikes are increasingly used for commuting and it is vital dealers recognise the market trends so they can cater for 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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