Data published by the Motor Cycle Industry Association (MCIA) showed a significant increase in December, with registrations 114% ahead of last year. However, much of this growth can be attributed to pre-registration activity ahead of the introduction of the new Euro 5+ beginning in January. All style categories increased, including mopeds and scooters, with the modern classic sector showing the most significant growth at 302.7%, thanks in part to nearly 200 BSA Gold Star ‘sales’. Meanwhile, the full-year total pushed 2.5% ahead of 2023.
Recent feedback from dealers suggested continuing tough trading conditions in December, with activity less buoyant than last year. Some dealers reported a slowdown earlier than usual in 2024, thought to be a result of reduced consumer confidence in the run-up to the budget announcement in October. High interest rates continue to be a hindrance, and although manufacturers are offering finance deals, they are struggling to appeal to consumers who have been used to very low rates.
Although the general view is that 2025 will be challenging, dealers are looking forward to the coming season as new models arrive in spring.
Used Motorcycle Market
Sales activity for used machines in December was also quieter than normal. As with the recent trend, later-registered machines are faring worse. This is further impacted by an increase in pre-registered Euro 5 stock, with some dealers reluctant to take in 2024 models as a result. Although these challenges may start to ease through early 2025 as pre-registered machines sell, ongoing manufacturer deals on new bikes could mean tough conditions for this end of the market for some time.
Stock levels in the market continue to be high, with lots of offers of trade-ins from the public. However, dealer stock levels remain in line with their expectations.
Outlook
December was a mild month with little snow and ice. However, January has started on a very cold note across much of the country, with snow for some and ice for many. Considering the current market and the fact that seasonal activity typically starts to pick up in February, Glass’s expects residual values to hold across most segments in the coming weeks.
Paul McDonald
Leisure vehicles editor