Motor Industry News
MyCarCheck.com/Trade Motorcycle Market Overview April 2014:
New and used sales ticking over nicely with IOM TT on the horizon
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MyCarCheck.com/Trade is the trade valuations arm of CDL Vehicle Information Services. Based on cutting-edge industry data and feedback from independent and franchised dealers, these monthly bulletins highlight the most significant trends in the UK motorbike and scooter market.
MyCarCheck.com/Trade’s motorcycle expert, Rob Hobson, commented: “Despite the incredibly wet start to the year, there have been bright patches. In fact, the weather has been kinder than the last two years in terms of ice and snow. This has certainly helped the two wheel market.
“New bike sales were up nearly 4% by the end of February and, with good reports from the March new plate introduction, we expect to see continued growth once the final month end figures are published. Retained profit still remains the biggest concern from new bike sales.
“We are of course heading into the prime buying season, with the start of the new race season and thoughts of holidays ahead. The Isle of Man TT is just two months away! This event always prompts a clamour to either get an existing bike ready – fit new tyres, get a service and MOT etc. – or upgrade to something a bit tastier.
“There is a feeling that positive economic messages will filter through to buyers, although this may still take some time. Consequently, while there is growing optimism around the trade at the moment, no one is going overboard. It is more a case of making the most of what opportunities there are in the short term and see how things pan out later in the year.
“Over the last few weeks, traders have noted that it is getting increasingly difficult to buy good used stock. Many dealers have a reasonable number of part exchange bikes, which have come in against March new plate machines, but once these sell replacing them looks like being more difficult than ever.
“Recent auction attendances have been high, with more dealers looking to buy and foreign buyers looking again. BCA Peterborough held their usual month end sale in February. It included a large number of Black Horse Finance repossessions, which had been stockpiled over the last three or four months. These are typically above auction average condition and always fetch strong money. Some of the biggest surprises were ones sold with VAT additional to the hammer price – once calculated they appear to be over normal dealer retail pricing.
“With strong demand in the short term, and a relative shortage of stock, values have increased again this month, although retail pricing is still fairly sensitive, which squeezes trading margins.
“Cruisers and big tourers always become more desirable at this time of year, although it’s pretty much across the board in terms of individual model mix. We have seen strong trade bids on Sports 600s in particular. The traditional buyer of these fits into the ‘seasonal’ category, so it will be interesting to see how these sales hold up later in the year.
“In general, it feels like the market is ticking over well and some are having a really good time of it. Most seem to think that used stock will remain tough to buy throughout the year. We don’t see any major market fluctuations in the immediate future.”
MyCarCheck.com/Trade provides buyers and sellers with all the vehicle price data they need: ready to retail, trade, average, retail and Cat D. 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.
Simply enter a motorcycle, car or van registration and the vehicle’s mileage to get an accurate valuation and additional information in an instant. Once signed up you can check as many vehicles as you like at no extra cost.
The MyCarCheck.com/Trade team includes:
Gavin Amos has 15 years’ experience in the used vehicle sector. After starting out at CAP he worked in several dealerships, progressing into management. He has hands-on experience of sourcing and disposing of stock, both to trade and retail customers.
Alan Senior has 35 years’ experience in used car valuations. After a decade running a franchised dealership he spent 20 years at CAP where he was Senior Editor of the Black and Red books and co-founder of the Green book, then two years as editor of Parkers Guide before co-founding VIP Data valuation services.
David Hill specialises in LCVs. He worked with Renault, LDV and Isuzu Trucks before spending 10 years as CAP’s Light Commercial Vehicle Editor then 5 years as national used vehicle sales manager for Iveco. He joined CDL in 2011.
Rob Hobson specialises in motorbikes and scooters. After leaving a dealer role to launch CAP’s Green Book, he worked in business development for Piaggio.