Thursday, June 20, 2024
HomeNEWSmarket on target for uplift of up to 15%

market on target for uplift of up to 15%

Unless sales completely stall over the next few weeks, the new bike market will finish the year 10%-15% up on 2014, says My Car Check Trade’s motorcycle expert, Rob Hobson. “More than 80,000 bikes were registered to the end of August, a 13.2% increase.

“It should be noted that the majority of these sales were achieved through PCP finance agreements, and some people question whether these are good for the long-term health of the industry. There’s no doubt that PCP makes absolute sense for many motorcycle buyers. Who wouldn’t be attracted by low monthly payments and the option to swap into a new bike on a regular three-year cycle?

“The concern is there may be something of a ticking time bomb in terms of plummeting used values. There is the issue of the amount the finance company sets for a vehicle at the end of the agreement compared with what it is worth to the trade. There is also a potential problem in owners not having as much equity in their existing bike as they expected.

“We have a fairly fixed number of buyers in this industry and used motorcycle values have been relatively stable for some time. Any significant change to this equation will have a big impact on the market as a whole. The example of dealer demonstrator values should serve as a warning.

“We are of course moving into the quieter months as the dark nights approach and retail demand reduces. There has been a general dip in trade bids of late and this is reflected in our valuations for October. However, thanks to the lack of top end clean retail stock in the 5-10 year sector, we don’t expect any major drop in these values.”

My Car Check Trade provides buyers and sellers with vehicle price data. As a free bonus, it also provides the annual road tax cost and key DVLA information, including the make, model, colour, engine size, body style, fuel type and date of registration.

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