The UK motorcycle market has significant room to grow, with the number of ‘inactive’ motorcyclists and the relatively low levels of bike ownership reflecting a great opportunity for the industry, according to Close Brothers Motor Finance.
The Motorcycle Industry Association (MCIA) estimated that there are 1.5m motorcycles in the UK but just 1.2m active motorcyclists. A further 2.5m license holders don’t currently own a bike. The MCIA also found that just 2.3% of the UK adult population own motorcycles.
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Chris Reid, national motorcycle manager for Close Brothers Motor Finance said: "The UK motorcycle industry is enjoying a period of sustained growth, with new registrations up almost 13% in June and strong sales throughout the first six months of this year following a record 2014.
"Yet while recent sales figures are positive, there remains significant potential, especially when we compare the number of bikers with car ownership levels and with other countries in Europe.
"While our climate may have a role to play in this, consumer confidence reached a 15 year high in June, suggesting people may be more willing to spend, and the statistics show that there is significant room for our motorcycle industry to capitalise on this.
"There is a clear opportunity for the industry to reach out to the inactive riders and those who are considering purchasing a motorcycle and get them out on two wheels."
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