Motor Industry News
Firstly can we commend those hardy dealers who managed to battle their way against the elements to attend the Motorcycle Expo held at the NEC at the end of last month. The Motorcycle Expo has now grown into a real showcase for the Two Wheel Market and presents a professional image of the trade as a whole. Unfortunately the weather had a massive effect upon attendance this year with blizzard conditions across the country during the 3-day event restricting many dealers’ ability to attend.
We would like to thank those who did battle the elements and took time to chat with us at the show. We had a fantastic response to our new product which provides accurate model identification at the point of valuation. Mycarcheck.com/Trade uses the Vehicle Registration Mark (VRM) to select the vehicle and lists a mileage adjusted range of trade and retail values, whilst also giving the top level DVLA model data. Those that we spoke to at the Expo wholeheartedly supported the innovative nature of this new product and fully endorsed the practicality of being able to access the data using their mobile phone, tablet or PC. The introductory price of £99 plus VAT for a 12-month subscription, allows the user unlimited valuation look-ups for not only Motorcycles but Cars and Light Commercial Vehicles. If you would like further information about Mycarcheck.com/Trade then please contact our sales team on 0844 482 1963 or visit http://www.mycarcheck.com/trade/
In addition to adversely affecting the Expo, the weather also had a detrimental effect upon the marketplace. Most reported a guarded but pleasantly buoyant level of business which had been seen through the later part of December, particularly the holiday period, and had continued into the New Year. This was pretty much all sectors but could be said of the Used Bike market in particular.
In years gone by, it was the norm for owners to put their bikes away for the winter, removing the battery and laying it up until February or March. With such unpredictable weather conditions throughout the year now, great biking days can be had in December, as much as the middle of August. The positive here is that while it is a longer selling season, it is so highly dependent upon the fickle weather. A prolonged period of tropical weather might be a daydream but it would be a real godsend if it happened.
It is clear that Used bikes are going to be ever more important in terms of focus and profit sectors in the immediate future. With this in mind there is already concern that stock availability is going to be tight in the next few months. It is difficult to say if this will continue throughout the year although it will certainly see an increased level of buying activity in the short time and we have consequently firmed up values this month across the board. How far this can go is dictated by the weak economy and whilst some confirm that Showroom ticket prices have increased, they are still restricted by what the market can afford to pay.
We predicted that there was going to be a severe ‘black hole’ in terms of prime low mileage used bikes at this time last year, and whilst there was an acute shortage early, most agreed that sufficient stock could be bought as the year progressed. It is difficult to predict if this pattern will emerge as this year progresses but it is going to be those who spend more time aggressively sourcing used stock who are going to be the winners.
VIPDATA is part of CDL Vehicle Information Services Ltd (CDL VIS) the vehicle data arm of CDL Group Holdings Ltd, based in Stockport, Cheshire. www.cdl.co.uk
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