Global Moto / Colchester Kawasaki closing
Discussion
I never got around to going but there was a Global Moto in Coventry
I had a quick google and it seems it closed a year ago...
but is now re opening - possibly because Completely Motorcycles in Hinkley is in Administration so they think there's a gap in the market ?
I had a quick google and it seems it closed a year ago...
but is now re opening - possibly because Completely Motorcycles in Hinkley is in Administration so they think there's a gap in the market ?
Edited by KTMsm on Monday 28th October 19:55
Don’t want to be to dramatic but this is pretty bad now. I’d be very nervous of buying any new bike now. Even if you worked it that you had physical possession as soon as you handed over the money it’s got to be a concern that you might not be able to get service and warranty support at a convenient place.
I bought a new KTM in 2022 and was surprised how few places wanted to do a deal. Same with Aprilia. There are loads of deals now for anyone brave enough but of course secondhand values will take a beating . Also means lightly used looks a lot better than new.
I’ve recently seen a two year old very low mileage privately advertised KTM for close to 50% of the list price.
I bought a new KTM in 2022 and was surprised how few places wanted to do a deal. Same with Aprilia. There are loads of deals now for anyone brave enough but of course secondhand values will take a beating . Also means lightly used looks a lot better than new.
I’ve recently seen a two year old very low mileage privately advertised KTM for close to 50% of the list price.
The company is showing as still active but I guess anything could be going on.
They didn't have a good year in 2023 (50k profit on a 13m business). And the had ran into some pretty painful sounding issues around trying to further expand and the new Cov site in particular ... The world really went mad under CoVid with everything being so volatile, really tough for many businesses to navigate the knock on effects.
They didn't have a good year in 2023 (50k profit on a 13m business). And the had ran into some pretty painful sounding issues around trying to further expand and the new Cov site in particular ... The world really went mad under CoVid with everything being so volatile, really tough for many businesses to navigate the knock on effects.
Made me look at companies house for MotoGB in the northwest. Very distant family connection.
Operating profit in 2022 was nearly £7m, down to just over £4m in 2023. Post COVID will have impacted that and they state its around the same as pre COVID.
Hope its not on the same path, lets see next year.
Operating profit in 2022 was nearly £7m, down to just over £4m in 2023. Post COVID will have impacted that and they state its around the same as pre COVID.
Hope its not on the same path, lets see next year.
Corporation tax at 25% instead of 19% and tomorrows budget hinting at increased employers NI contributions and the increases to minimum wage along with all other costs soaring must make it a very difficult trading environment, particularly when the demand wanes, as is now evident in this cost of living crisis.
Successive governments refusing to unfreeze the tax bands when all costs have probably soared 50% or more since before Covid, is having a huge knock on disposable income. Businesses are facing tough times going forward as well as individuals. In the motorcycle world, how will youngsters be able to afford these luxuries with the cost of housing and living.
It is a worrying trend seeing just how many dealers are closing, but even big names the likes of Pierer Mobility are in uncomfortable territory with 1.5bn in net debt and hitting the motorcycle headlines with regularity.
Successive governments refusing to unfreeze the tax bands when all costs have probably soared 50% or more since before Covid, is having a huge knock on disposable income. Businesses are facing tough times going forward as well as individuals. In the motorcycle world, how will youngsters be able to afford these luxuries with the cost of housing and living.
It is a worrying trend seeing just how many dealers are closing, but even big names the likes of Pierer Mobility are in uncomfortable territory with 1.5bn in net debt and hitting the motorcycle headlines with regularity.
snagzie said:
Youngsters are struggling to afford to have kids, let alone motorbikes
You're not wrong, out of curiosity I googled UK birth rate...The UK's birth rate has been declining since 2010, and in 2023 it reached a record low:
Total fertility rate (TFR): In 2023, the TFR was 1.44 children per woman, the lowest since records began in 1938.
Live births: In 2023, there were 591,072 live births, the lowest total since 1977.
Average age of new parents: The average age of new mothers is 30.9 and the average age of new fathers is 33.8.
The TFR is the average number of children a woman has in her lifetime. For a country to maintain its population, the TFR needs to be around 2.1 children per woman.
Some reasons for the decline in birth rates include: Financial pressures, Not feeling ready, and Not finding the right partner.
In some respects maybe this is a good thing. I'm not one of these people obsessed with growth, quite the opposite. We're not exactly at a sustainable level, I wonder in terms of global population what that would be?
NITO said:
In 1994 a ZXR750R was around 7k, stock was 6.3k!
Really ? In 2007 I bought a brand new ZX6r for £6k on Kawasaki interest free credit. Other bikes were around the same price and litre bikes were about £9k or so, if my memory isn't letting me down.Edited by NITO on Tuesday 29th October 15:17
SteveKTMer said:
Really ? In 2007 I bought a brand new ZX6r for £6k on Kawasaki interest free credit. Other bikes were around the same price and litre bikes were about £9k or so, if my memory isn't letting me down.
In 2009, I bought a Fireblade for £8,851 on 0%. Today, that'll be £24,000 and 9.9%.Crudeoink said:
Combine that with bikes being awfully expensive now.
2014 Median wage was 27.2K - ZX10 was 7.5K
2024 Median wage is 35k - ZX10 is 17.5K
No wonder so many bike dealers are having a hard time
The bigger, and not so talked about issue, is that UK wages are not going up as fast as elsewhere in Europe. If the UK economy had grown at the same rate as the German economy then we'd all be about £6000/yr better off. 2014 Median wage was 27.2K - ZX10 was 7.5K
2024 Median wage is 35k - ZX10 is 17.5K
No wonder so many bike dealers are having a hard time
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