Motorcycle demand was static in October 2016, with 8,595 units registered – just 22 more bikes than in the same month in 2015. Drilling down, the shape of this demand changed, with naked and scooter categories up, and 51-125cc bikes registrations reduced. “Demand in the motorcycle market cooled in October recording a growth of just 0.3 per cent,” said Stephen Latham, head of the National Motorcycle Dealers Association (NMDA) which represents motorcycle retailers across the UK.
Latham continued, “There was substantial growth in the naked and scooter categories which both saw increases around 7 per cent. For the first time in many months, bikes in the 51 – 125cc sector recorded a slight decline of -1.7 per cent.
“Following our vote to leave the EU, motorcycle riders are concerned what affect a long drawn out and protracted exit negotiation will have on their employment security, inflation and their ability to retain their current living standard. Also, we have seen the devaluation effect on our currency with a few manufacturers increasing their retail prices. There is certainty that in the coming months no brand will be able to sustain the devaluation of sterling much more. All these are factors which could be influencing buyers to delay replacing their current motorcycles.
“More positively, we are confident that the residual values of 2 – 3 year old motorcycles will remain strong, and this in turn will enable consumers to change their bikes and to take out new PCPs at competitive prices.
“Overall dealers remain optimistic that demand will hold up near to the current year-to-date growth figure of 6.7 per cent, and as the final push come to move on the last of the Euro 3 machines prior to the January deadline.”