25% rise in February motorcycle registrations
Figures from the Motor Cycle Industry Association show that 4972 bikes were registered last month – 987 more than February 2015. Confidence in the economy and high employment figures were cited as two contributing reasons.
“In what is traditionally a quiet month for motorcycle registrations as consumers await the 16-plate change in March, it is extremely positive to see that the market was up 24.8 per cent in February”, said Stephen Latham, Head of the National Motorcycle Dealers Association (NMDA) which represents motorcycle retailers across the UK. The Year to Date increase was 18.9 per cent.
Latham continued, “With employment on the rise, people are looking for economical transport that shortens their commuting time. Sales of scooters were up 37.9 per cent, and a significant growth coming from the sub 50CC scooter sector which was up 14.1 per cent – indicating that young riders are seeking out practical and affordable commuting solutions.
“For those who are holding out for the new number plate, they are more likely to spend £10K-12K for a larger machine in order to preserve its value, however for those just looking for something which is cheaper value for money and convenient for transport, they were more likely to purchase in February – hence the rise in scooter sales. This may explain why budget brand Lexmoto surpassed all other manufacturers – other than the market leader Honda.
“Whichever way you want to perceive the market in February, it is clearly a healthy indicator that 2016 is off to a racing start. We anticipate the market to continue to grow, and have strong expectations ahead of next month’s 16-plate change.”