Motorbike leasing has turned out to be a great substitute for ownership. In this arrangement, motorbikes are practically owned by companies who lease them to customers for a short period of time. In recent times, motorbike leasing has evolved from basic firms to a developed modern leasing industry recognized all over the world. This is due to social, transport and financial benefits that this system offers to customers. This arrangement shields the rider from being burdened by the cost of maintenance and ownership.
A research done by Technavio shows that motorbike leasing market will experience a growth of at least 5 percent by the year 2020. This increase is mainly being triggered by an increase of motorbike tour groups in the region. Trends in this region show that the majority of riders tend to be 40 years old and older.
Competition is Stiff
Popularity in motorbike leasing has attracted a number of big names into the industry. This has increased the competition, and so the need for new strategies to increase the customer base. The key dealers in this venture are doing their best to enter into strategic partnerships with other organizations.
The partnerships are aimed at making more product available in the market at a convenient cost to both the dealership and the customer. The market consists of a wide array of customers with different needs and desires, and that is why joining hands would help solve this puzzle.
Motorbike dealers have currently adopted the use of technology to efficiently enhance their operation. This has made life easier for both parties, and thus boosted the growth of motorbike leasing. The Internet has also significantly reduced the cost of advertisement, making it possible for smaller firms to survive in the motorbike leasing industry.
With better and more powerful bikes being released every year, motorbike leasing industry is expected to grow even bigger in the future.