Data published by the Motor Cycle Industry Association (MCIA) showed a significant decline in September, with registrations 14.1% behind last year. However, the modern classics style category bucked this trend, increasing by 3%, with the competition and road sport categories also seeing rises, of 4.4% and 8.9% respectively. Year-to-date registrations to the end of September were 3.8% behind last year.
Feedback from dealers in September continued the mixed theme of late, with some dealers finding the market challenging, whilst others reported activity to be fair, with targets achieved. However, it is currently a price-driven market, a result of various manufacturer incentives and dealer discounts. Negative press stories about the October budget may have further hindered consumer spending, combined with a lack of ‘feel good factor’ and no real light at the end of the tunnel. Even premium brands, which are typically less impacted by economic uncertainty, are feeling the effects now.
The Suzuki GSX-8R continues to be sought after, and the new Suzuki GSX-S1000 GX has also generated interest among dealers. The Honda PCX125 remains in strong demand.
Used Motorcycle Market
Sales activity for used machines in September was generally tough, particularly for late-registered machines, partly a result of the strong deals currently being offered in the new market. However, workshops have remained busy for certain dealers, helping make up for the shortfall in profit from sales. Some training schools remain busy with newcomers of all ages, so it’s not all bad news.
Lower-priced machines, as well as smaller to mid-range models, are in strong demand. 2024 has seen a definite trend away from larger machines to middleweights, possibly due to riders preferring a more manageable ride.
Outlook
The summer months are now behind us, and autumn has arrived. September was a mixed month in terms of weather, with warm spells interspersed with colder conditions, and October started on a similar note. With the clocks going back, daylight hours are rapidly decreasing, reducing the opportunities for getting out on a bike. Taking this into account and the fact that the market is suppressed, Glass’s expects residual values to ease across most segments during the coming weeks.
Paul McDonald
Leisure vehicles editor