|BIKE INTEREST UP IN THE USA
April 16 2008.
USA based story, but interesting research in the face of growing petrol prices.
Motorcycle buying interest at NADAguides.com (http://www.nadaguides.com/) increased 48 percent in March 2008 compared to March 2007, even though sales of motorcycles were down over seven percent at the end of 2007, with NADAguides.com estimating sluggish sales so far this year. The company, a vehicle pricing and information website, says it believes this growth in interest -- in spite of lackluster sales -- is an indicator consumers are increasingly considering motorcycles as 'daily drivers' versus luxury purchases as concern grows over soaring fuel prices.
The company defines an increase in motorcycle buying interest as the number of new motorcycle prices provided to consumers at its website, with analysis for this study comparing data from March 2007 to March 2008.
Lenny Sims, motorcycle editor and vice president of operations at NADAguides.com, says this increase in interest comes on the heels of a recent report by the federal Energy Information Administration that predicts consumers will pay an average of $3.54 per gallon of gas this summer driving season (April through September 2008), up a whopping 61 cents from last year -- with gasoline prices in some parts of the country expected to cross the $4 per gallon threshold.
"We believe the current state of the economy, coupled with recent summer fuel price predictions, has caused consumer mindset about motorcycles to shift," said Sims. "In our opinion, motorcycles have become attractive options as primary vehicles for daily drivers -- due to their fuel efficiency -- and are no longer considered just a luxury, 'secondary-vehicle' purchase."
Sims says this increase in buying interest, spurred by an interest in motorcycle fuel economy, should help offset sales declines of on-highway bikes in the coming months, as consumers who research motorcycle values at NADAguides.com -- and who use the company's motorcycle buying guide to compare bikes and to obtain specification information -- are typically in the 30 to 90-day purchasing cycle.
According to NADAguides.com, motorcycle buying interest in March 2008 was spread across a variety of bikes and scooters that the company has organized into three separate categories -- Most Researched Short-Range Commuters, Most Researched Mid-Range Commuters and Most Researched Long-Range Commuters.
Short-range commuters, according to NADAguides.com, are ideal for short back-and-forth jaunts, used predominantly on surface streets. Mid-range commuters are ideal for driving moderate distances, either on surface streets or highways. Long-range commuters are ideal for driving long distances, predominantly on highways.
Most Researched Short-Range Commuters
1. Yamaha Majesty 400
2. Honda Silver Wing(TM)
3. Suzuki Burgman 400
Most Researched Mid-Range Commuters
1. Honda Shadow Spirit 750
2. Suzuki Boulevard S50
3. Kawasaki Vulcan 500
Most Researched Long-Range Commuters
1. Harley-Davidson Electra Glide Standard
2. Honda Gold Wing Airbag
3. Yamaha Royal Star Venture
Sims emphasizes the fact that while NADAguides.com categorized its most researched vehicles into three separate categories for reporting purposes, there are many different types of bikes featuring many different body styles, engine sizes, equipment and price tags that could be considered ideal candidates no matter the commuting distance.
"Not only do motorcycles offer drivers an economical daily driving option, there are many different types of bikes available in a variety of different pricing categories," said Sims. "When it comes to motorcycling, consumers have plenty of choices."
N.A.D.A. Appraisal Guides (NADAguides.com) is the world's largest publisher of vehicle pricing and specification information for new and used cars, trucks, vans, and SUVs, as well as van conversions, limousines, classic and collectible cars, boats, RVs, motorcycles, snowmobiles, personal watercraft and manufactured housing. The company's consumer website, NADAguides.com (http://www.nadaguides.com/), offers a variety of new and used vehicle services in addition to valuation information. Throughout its 75-year history, N.A.D.A. Appraisal Guides has earned the reputation as the recognized authority for vehicle valuations. Its website, NADAguides.com, is the most comprehensive vehicle information resource on the Internet today.