Russ Brown Motorcycle Attorneys®: Used Motorcycles Sales Are On the Rise.
Motorcycle sales are up and being driven by used motorcycle sales. A majority of people who are looking to buy a motorcycle are now trending toward purchasing a used bike. A used ride is less challenging financially and offers those with less disposable income an easier entry to the motorcycle rider’s world while offering others the chance to own a more upscale bike at a more affordable price. That being said, the fact of the matter is that used motorcycle prices have risen to the healthiest level they have been since 2008 and if people are purchasing used motorcycles, it creates a demand for new motorcycles. I know that seems a tad counter-intuitive, but riders are realizing that because their used bikes are more valuable now than they have been for the past five years, they can trade them in for a brand spankin’ new bike.
Obviously then, this trend has ultimately begun to benefit the entire motorcycle industry as well. More people have purchased used motorcycles and, now realizing their worth, may now be looking to trade up for new bikes. Not only does this create demand from manufacturers like Harley-Davidson, Polaris and others, it opens up new avenues for more apparel and accessory sales as used and new bike riders alike buy new clothing and stands etc to compliment their new ride. Increased demand means more profit for these companies which they can infuse into R&D which allows them to create more innovative products.
So what does this mean for this year’s motorcycle sales forecast? Tough to say at this point because weather is the primary driver during the selling season, but it sure looks like a positive trend. Last year’s uncharacteristically warm temperatures early in the year caused us all to hop on our motorcycles and jump-start the selling season earlier than usual. This year may be different, as many meteorologists are predicting a later winter, but who knows what the weather will do, given its unpredictability the last few years…
In all, the recent trend in sales of used motorcycles is driving the motorcycle biz forward. Though the recovery from the economic struggles we have been experiencing since 2008 is still slow, it is nonetheless a recovery and it looks like things are finally starting to look up. Higher prices for used bikes support that notion and the domino effect is seeing those sellers trading up to new bikes, thus pushing the industry forward at all levels–even through this incessantly lengthy recession.