BMW Financial Services (BMW FS) and Suzuki
Motorcycles have each spoken of an opportunity for increased
finance provision in the motorcycle market, particularly for
non-captive funders.
At present, the independent finance market for
motorcycles is dominated by Close Motor Finance and Black Horse,
both of whom are endorsed by the Motorcycle Industry Association’s
Get On campaign. However,
Joe Pattinson, marketing manager at BMW FS, said this should
not deter other independents.
Go deeper with GlobalData
“There’s enough opportunity for lots of
independents and for manufacturer captive finance houses to get
behind bike dealers,” he said.
Paul de Lusignan, general manager of
motorcycle sales and marketing at Suzuki, agreed “there could be a
position for another player” between Black Horse and Close. The two
lenders combined provide finance for all manufacturers to feature
in the Motorcycle Industry Association’s
monthly ranking of brands by sales volume except Honda and BMW, who
use their respective captives, and scooter brand Direct Bikes.
The introduction of another independent, said
De Lusignan, “could be interesting for the market as a whole”.
Brand awareness
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBoth men were talking to Motor
Finance as part of an assessment of motorcycle finance in the
UK, prompted by a recent explosion of finance offers in the
two-wheeled market. At present, there are more finance incentives
for motorcycle purchases “than ever before,” according to Stephen
Latham, operations manager of the Retail Motor Industry Federation.
Following recent offers from
Ducati,
Yamaha and
Suzuki, Pattinson called on both captives and independents to
do more to make people aware of the potential for finance on
motorcycles.
“There’s an opportunity to attract a new
audience. It’s easy to advertise to existing motorbike buyers but
is there a bigger audience out there who didn’t realise, for £100 a
month, they can get on a bike.”
“It can only be good for the industry if other
manufacturers get behind their bike divisions and offer funding.
The more people that are riding, the bigger the bike parc gets, and
the better that is for everyone.”
An analysis of the UK motorbike finance
market featuring Joe Pattinson, Paul de Lusignan, Stephen Latham
and Mike Whytcock of Black Horse will be published in
the June issue of
Motor Finance
magazine.
richard.brown@vrlfinancialnews.com
