The latest data published by the Motor Cycle Industry Association (MCIA) shows that after a few months of decline, registrations saw an uptick in June of 7.9% compared to 2022. As a result, the year-to-date tally now stands at 2.6% behind last year. In contrast to May, when scooters were one of the main culprits for the shortfall in registrations, they underwent an impressive recovery in June, with the non-moped scooter sector growing by 13.3%.
Dealer feedback suggests that new order intake has been more challenging despite registration growth. However, some dealers reported a strong month with sales ahead of last year, but these were in the minority. The increasing cost of living and rising interest rates are having more of an impact now, and following a period of high spending post-Covid, consumer confidence is now suffering. As a result, there are more manufacturer promotions, including subsidised finance and deposit contributions, which dealers will welcome.
Some dealers are reportedly turning stock away due to being at full capacity
Demand remains steady across the board, with new Suzuki scooters and its GSX-8S mid-range naked proving to be particularly popular choices.
Used Motorcycle Feedback
Sales and demand for used motorcycles have also been more challenging recently, partially a result of promotions on new machines. Although some dealers are achieving similar sales levels to last year, they are having to work harder. With new stock more plentiful and strong manufacturer promotions, this has resulted in late-model used machines falling out of favour, in contrast to last year when they were much sought after.
The majority of dealers report that they are satisfied with their stock levels, and with more offers from the public than is usual at this time of year and a healthy volume of part exchanges, some dealers are reportedly turning stock away due to being at full capacity.
Demand remains strong across the board with pricing and condition key. Modern retro machines continue to be in strong demand.
Outlook
Following the hottest June on record, with some excellent riding conditions, July so far has been more mixed. Taking into account promotions on new machines and stock being more plentiful, Glass’s expects residual values to soften across all segments in the coming weeks.
Paul McDonald
Leisure vehicles editor, Glass’s