It looks like more expensive houses and cars mean better chances of versatility in the motorcycle market – and a recent global survey by the Financial Times suggests this is a fast-growing global issue, following the lockdowns of 2020-to-present-day.
The UK in particular is expecting a boom in motorcycle sales as experts at Lexham Insurance solidify a prediction for the near future.
Got your bets ready, ladies and gents?
“By 2034, over 1 million UK households will own and use a motorbike, scooter or moped, as road users look to cheaper and greener modes of transport.”
The prediction comes with its usual list of proofs; we’re told 1 in 4 families have sold their automobiles to scrimp funds, while the percentage of sapiens undergoing motorcycle tests are at their highest yet – and that’s only the tip of the iceberg.
A 32% YOY increase in registrations between January and April (via MCIA) show a big spike in the purchasing of electric bikes, with the same four-month period logging a 20% increase in two-wheeled EV sales.
The above facts are more than a little unsettling; with the Financial Times also raising awareness on the higher breadline, higher interest rates for students trying to complete a degree, and stunted vacation/luxury rates as a general whole, condensing costs are becoming mandatory.
Candour’s Tabby Farrar has added that the Lexham prediction will be possible, given “the market maintains an overall annual growth of 5% each year ongoing…if multi-bike ownership remains at current levels.”
What do you think?
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*Media sourced from Bloomberg, the Evening Standard, Ducati Melbourne West and RideApart*