Used Motorcycle Prices Trends in 2024

For years, it has been reported and observed that more Americans were buying and registering motorcycles, primarily because it is less taxing on their finances and easier to purchase with the financing options available at the dealerships. Moreover, with platforms such as Cycle Trader, Facebook Marketplace, eBay, and Craigslist, more people also easily purchase used motorcycles without worrying about scams or investing in a poorly-maintained motorcycle.

Despite the many benefits a motorcycle offers, there has been a modest to minimal growth in the used motorcycle market over the years, mainly because of the economic uncertainty, changed priorities, and the introduction of stricter laws to curb emissions and noise.In 2024, there is a major conflict among experts, where some predict significant growth in the pre-owned motorbike market, suggesting a price hike. Others believe that it will remain stagnant or might experience a drop, simply because people don’t have much money to spare on hobbies and recreational vehicles.

Therefore, the motorcycle market in general, whether used or new motorcycle market, is in a transitional period where predicting the exact trend for the entire year is a bit far-fetched and quite challenging. Since understanding price trends in the used motorcycle market is crucial for owners who want to sell or enthusiasts who want to purchase a cheap yet well-maintained bike, it is important to look at the data and predictions made by the experts up until April 2024.

Also, if you go through listings at different online motorcycle trading platforms, you will realize that while some owners will drop their price demand drastically, others are still maintaining higher prices to get the best deal. All things considered, this article aims to delve deeper into the price trends prevailing in the ever-evolving pre-owned motorcycle market, consumer mindset, and macroeconomic conditions to help you decide whether 2024 is the right year for your discretionary purchase. 

In 2024, there might be an increase in the price of a specific motorcycle genre. For example, there might be an increase in the price of an urban commuter or a standard cruiser compared to an adventure motorcycle or a touring motorcycle. The best way to identify which motorcycle genre is more in demand and which segment has seen a drop in sales and prices is to check the listings at the online motorcycle trading platforms. You might find some owners continuously dropping the price on their motorcycles and still struggling to sell them.

The longer a listing remains available for purchase on the online marketplace, the higher the chance of a price drop. This also indicates that the used motorcycle is unfairly priced. Overall, utilizing data from different virtual pre-owned motorcycle marketplaces, tracking the pricing on different types of motorcycles , and monitoring the duration of listings can help potential buyers and sellers gain insight into the demand for different bikes and the overall price trend.

According to Allied Market Research, Allied Analytics LLP, Portland Oregon, in 2021, the global used market size was priced at 3.87 billion U.S. dollars and it is expected to reach 66.2 billion U.S. dollars by 2031, which means in the next five to six years, an upward price trend will be observed in the used motorcycle market worldwide.

Allied Market Research further analyzed that on the one hand, the used motorcycle market in the U.S. is experiencing growth due to an increase in demand for high-tech and sophisticated second-hand motorcycles, especially cruisers and sports bikes. This ever-growing demand for used motorcycles is further boosted by traffic-dense streets, exorbitantly high costs of the latest models, the convenience offered by different digital motorcycle marketplaces, greater motorcycle riding opportunities, exciting events and rallies, greater societal acceptance of bikes, and the overall popularity of motorcycles.

Conversely, in developed countries like the USA, the used motorcycle market is also experiencing hampered growth due to higher risk of accidents, theft, and maintenance problems. The availability of motorcycle taxis and rental services and the shift towards electric motorcycles is also influencing the growth and price trends in the used motorcycle market in 2024.

The used motorcycle market is segmented or categorized based on various elements, such as motorcycle’s engine displacement, motorcycle type, location, distribution channel, source of motorcycle, and propulsion. In each category, price trends tend to be different. For example, a motorcycle with a higher engine capacity is likely to be more expensive than a motorcycle with a smaller engine and horsepower production.

The report further revealed that the United States is the largest market for second-hand motorcycles, especially in North America. For the immense growth of the used motorcycle market in the country, motorcycle manufacturers and dealerships have put in untiring efforts, introduced various incentives, and developed new facilities. Moreover, the establishment of trustworthy online motorcycle trading platforms has helped promote motorcycling in the industry by removing major obstacles from the buying process.

In 2021, the all-American motorcycle brand, Harley Davidson , also introduced an online platform, the HD-1 marketplace. This initiative helped motorcyclists buy and sell second-hand Harley Davidson bikes in America. While these facilities help motorcycle manufacturers improve their market position, they also influence the price trends in the used motorcycle markets. These efforts promote brands, fuel demand for motorcycles, and also affect price trends in the second-hand motorbike market. 

As population increases and more vehicles take over the roads, masses are suffering from severe traffic congestions that make it difficult for vehicle owners to travel comfortably and reach their destinations on time. Since motorcycles are highly maneuverable and can easily move through tight spaces, they are becoming more popular as the fastest mode of transportation. As a result, several types of motorcycles including scooters, sports bikes, touring motorcycles, cruisers, and standard motorcycles are growing in demand, leading to an upward price trend. 

Brand-new motorcycles are highly attractive, performance-oriented, and designed for an exhilarating experience. However, they are also quite expensive and out of reach of many. Therefore, people who want to learn to ride or start using a bike as their primary mode of transportation tend to gravitate towards used motorcycle markets because finding a good deal is much more plausible than expecting a new arrival to be launched that perfectly matches one’s constrained budget. 

Due to the financial crisis, many people withdraw money they are saving for a discretionary purchase, such as a motorcycle. This shift in financial priorities tends to hamper the growth of the motorcycle markets, leading to a plunging price trend. During COVID-19 and the post-pandemic era, people were losing interest in purchasing recreational vehicles, choosing to channel their money to create an emergency fund or a stockpile. This led to a decrease in the demand for motorcycles and a reduction in prices in general. 

Motorcycles have always struggled to gain acceptance as a safe mode of transportation. When motorcycle accidents become too frequent in the country, the growth of the used motorcycle market takes a hit, and price trends are also affected. To cater to this issue different motorcycle safety courses and campaigns are launched to encourage riders to adopt safe riding practices, wear helmets, and prioritize motorcycle maintenance to create a safe riding environment. Motorcycle manufacturers also work on introducing more reliable advanced safety features in their bikes. However, since these features are missing in older bikes, used motorcycle price trends are difficult to maintain despite these efforts. 

The Internet is no longer restricted to checking different updates. People are now using the internet to reshape their lives. Motorcycle taxis are now a growing trend in the country that is making it easier for commuters to cut their travel costs by using a bike-for-hire service. In California, Moto Limos Club, a motorbike-for-hire service started in 2011. This idea has impacted the price trends in the used motorcycle market in two ways.

On the one hand, it has helped many users realize the benefits of riding a motorcycle and convinced them to purchase one from the second-hand market. In this context, growth in the market was reported. On the other hand, it has eliminated the need for owning a bike, considering owners do not have to worry about maintenance costs, ownership costs, insurance, registration, taxes, fuel costs, etc. Therefore, motorcycle taxis have also impacted the used motorcycle price trends in the United States. 

Before we predict the motorcycle price trend in 2024, it is important to take a look at the used motorcycle market trends in the last two years. In 2022, the world was recovering from the shock of the Covid-19 pandemic and the havoc it wreaked. It is also established that market trends can change overnight. Back in 2022 and 2023, people were more focused on their finances and were less inclined to purchase things for mere pleasure. Those who needed a motorcycle as a mode of transportation turned towards the used motorcycle market, but since the number of buyers was exceptionally low compared to the previous years, the prices dropped dramatically. 

Before the pandemic, motorcycle buyers were finding it extremely difficult to avail a bargain on a used motorcycle. The high prices of used bikes were also influenced by the shortage in supply of new bikes, greater competition between brands, and the constant race to introduce the latest motorcycle technology. All these factors resulted in expensive used bikes, leaving buyers with limited options.

But in 2022, trends reversed completely as proven by National Powersport Auctions monthly report. In previous years, this organization used to successfully sell used standard and super sport bikes during live and digital auctions. However, in October 2022, it reported a drop in prices and sales in the following five motorcycle categories:

• Dual-Sport Motorcycle: 9% Drop 
• Metric Cruiser: 16% Drop 
• Sports Motorcycle: 6% Drop 
• Domestic Cruiser: 12% Drop 
• Motocross Motorcycle: 8% Drop 

While in 2021 and earlier, these motorcycle categories experienced a huge price increase year after year. In addition to the October 2022 report, the July and August 2022 reports also showed that all these categories were going down to negative. The same trend was also observed in the 2022 wholesale car market.

Some market observers also provided anecdotal evidence that many motorcycle sellers were demanding a pandemic influenced by high prices for used bikes, but as a result, they were unable to sell their motorcycles in a reasonable time frame. This trend was the perfect reflection of the financial situation of people, who had little to cope with the ever-rising inflation in their limited budgets. Moreover, with increased interest rates, many people also jettisoned the idea of availing a finance facility from a motorcycle dealership or a local money lender to purchase a motorcycle. The fear of looming recession also kept the potential motorcycle buyers in check, compelling them not to indulge in impulsive purchases because they might not be able to resell the bike at a fair price.

But despite this obvious decline in demand and prices, National Powersport Auctions’s October report revealed that the average wholesale prices of used motorcycles remained more than 10% of the 2019 price trends. And even though the inventory of new bikes was growing in motorcycle dealerships, the number of new models being offered was still lower than what they were in the pre-pandemic world. But the overall trend according to NPA was indicating less growth and lower prices. 

In later November and December NPA reviews, it was confirmed that there was price deflation in almost all motorcycle categories. In November, the wholesale used motorcycle price dropped 6% for sports bikes and 16% for standard production cruisers. In December, the price drop for standard cruisers reached up to 18%, while a 2% price decrease in prices was noted for dual-sport motorcycles. In 2022, no motorcycle segment was spared from price deflation, and National Powersports Auctions claimed that this decline in prices has been the fastest since the 2008 economic crisis. 

As National Powersports Auctions suggested, used motorcycle prices peaked before 2022 and continued to decline from 2022 onwards. The same trend continued into 2023, but from the outside, it appeared that the used motorcycle prices were exorbitantly high. 

While studying the data, it is important to appreciate that these market trends do not result in dramatic changes. There will still be sellers asking a higher price for what their bikes are worth. However, the likelihood of finding a cheap bike is comparatively higher than it was before 2022 or the pre-pandemic years.

In 2023 also, it took months for the trickle effect of declining wholesale motorcycle prices to reach the retail level. Primarily because the prices are reducing after reaching an unrealistic peak due to higher demand and a shortage of new, affordable bikes.

The seasonal change also affects the prices, as NPA reported an increase in prices in April 2022, the riding season, but later dropped by 15% as winter approached. In 2023, the overall prices for standard cruisers declined by 30%, but the overall prices still remained more than 10% higher than before the pandemic.

Therefore, despite a major decline in prices at the wholesale level, the same trend was not observed at the retail level, leaving consumers at a disadvantage. As a result, prices did not get back to normal even after the pandemic ended. Many motorcycle manufacturers and dealerships used pandemics to their advantage and reevaluated their ideal inventory. Instead of maintaining a higher inventory like they used to in 2019 and other pre-pandemic years), they deliberately create a shortage of new models.

These low levels of motorcycle inventory made it easier for them to sell the bike at a higher price. However, NPA reported that this business model cannot be sustained for long and that the motorcycle inventories as well as the prices will become more affordable for buyers. The competition in the market is quite high, and the only chance a dealership has at business and survival is to get back to maintaining a higher inventory. Consequently, buyers were better able to find affordable bikes in 2023 with improved supply, buyers’ concerns over uncontrolled inflation, and the risk of recession, there is a decrease in the demand to increase prices.

Notwithstanding, reasonable bargains on used motorcycles were still few and far between in 2023, but people could rely on future trends to make wise and pocket-friendly purchase decisions.

In March, the peak motorcycle selling season, the National Powersports Auction has reported the prices have reached their highest point as they normally did in the spring season in the pre-pandemic world. NPA has further reported that the trend of high prices of used motorcycles will remain stable in April and May 2024. This pattern reveals that the used motorcycle market is restoring its normal seasonal price trends in 2024 after two years of atypical price fluctuations, caused by increased consumer demand and insufficient supply. Notwithstanding the challenges created by new incentives and the latest inventories offered later in the peak riding season (April - May), the pricing patterns observed in motorcycle auctions are in line with and sometimes higher than what the motorcycle industry has achieved lately.

The average wholesale price of used motorcycles in March 2024 has increased across every motorcycle genre, including touring motorcycles, standard motorcycles, and power sports bikes, compared to what it was in the last three months, December 2023 - February 2024. On highway motorcycles have seen a 10% increase in the average wholesale price performance (AWP). The prices of domestic cruisers have soared by 12.5%, and for metric cruisers, the price trends have increased by 12.2%. Similarly, dual-purpose, adventure touring motorcycles , and off-road-only bikes have also experienced modest increases in prices in March 2024 regardless of category, brand, and engine size.

The National Powersports Auctions also reported that the year-over-year average wholesale price indicators of most motorcycle categories were less than that of March 2023; however, they were above all previous expectations of the motorcycle industry. Motorcycle manufacturers, dealerships, owners, and consumers are expecting this trend to remain stable up till May 2024, but will it last that long? 

Notwithstanding the uneasiness about the surplus of new motorcycle inventories and unpredictable weather conditions across the United States, most motorcycle manufacturers and dealerships have confirmed excellent sales in February and March, and it is expected that consumers will continue to show interest until the end of spring. To ensure that sales are kept up throughout April and the start of May, money lenders, motorcycle dealerships, and manufacturers have revised their incentives and also finance facilities to attract consumers and support them to act on their motorcycle purchase decisions.

This behavior is expected to continue throughout 2024, with sales only dropping during the off-season. However, everyone is aware of the volatility of the market and that it will still take a lot of time and effort to bring the used motorcycle market back to where it was in 2019 and before. NPA and other experts are pushing dealerships to take advantage of the price trends and quickly sell their inventory, especially the models that have been standing in the showroom for quite a while, to create room for other best-selling models. On the other hand, both buyers and sellers are further advised to closely monitor the market trends after April and May because prices may fall again later in the year. 

For now, National Powersports Auctions has concluded that the pricing behavior of the used motorcycle market has returned to normal, with no drastic fluctuations reported in sales since February 2024. The organization and the motorcycle industry are positive that these normal price trends will prevail throughout the years. In spring, prices have peaked beyond expectations, but it is also being predicted that inventory and market will build up pressure to cut short this seasonal sale drive. Therefore, efficient inventory optimization has become more essential for dealerships and manufacturers. 

True to National Powersports Auctions’s report, motorcycle enthusiasts are showing great interest in purchasing a two-wheeler in 2024 despite the uncertainty in the market, as reported by CycleTrader. In a survey, CycleTrader revealed that about 67% of participants are positive that the market trends will improve and become more stable in 2024. The remaining 33% are expecting the economy to deteriorate with greater price fluctuations experienced throughout the year. 

Surprisingly, CycleTrader has reported that all those consumers who are anticipating a declining economy and less affordable used motorcycle price trends are not letting this pessimism affect their decisions. Even those who have little confidence in the used motorcycle market and price trends are not restraining themselves from purchasing a motorcycle if they so desire. In fact, out of the 33% pessimists, only 17% of consumers have resolved to not purchase a motorbike this year, mainly due to a lack of finances and aversion to availing of a high-interest loan. Most of the consumers did not hesitate to announce their determination to own a bike. 

Out of the optimistic used motorcycle consumers, 53% of motorcycle enthusiasts declare that the economic fluctuations and price trends do not concern them and cannot prevent them from purchasing a motorcycle. Another 21% claimed that they have decided to diversify their purchases more than what they had originally planned. The remaining 27% are set to take advantage of aged inventories and incentives offered by dealerships and manufacturers to purchase a bike sooner.

CycleTrader further reported that of the consumers who are actively looking for a well-maintained used motorcycle to purchase, 65% percent of them are trying to purchase one by spring or summer, allowing themselves a timeframe of 4-6 months to make their decision. Furthermore, 66% of active consumers are also quite sure that they can easily complete the motorcycle purchase process from searching to getting ownership within 12 weeks.

In addition to incentives and low-interest rates, motorcycle enthusiasts looking to purchase a used motorcycle in 2024 want to act before the unpredictable economy affects their financial situation and purchase power. Consequently, they are taking their timing of buying a motorcycle more seriously than the price trends. In this vein, about 55% of active consumers are delaying their purchase decision due to their financial situation, including their ability to maintain the bike. 

Earlier in this article, we explored that despite a decline in the average wholesale price performance of used motorcycles, individuals are still struggling to find cheap motorcycles that are reliable, require little maintenance and almost no replacements, offer longevity, and have a decent appearance. Buying a used motorcycle is cheaper compared to new two-wheelers because the buyer is exempt from dealership fees and initial depreciation; however, the struggle to get the best in a constrained budget is still a huge problem for motorcycle enthusiasts. Whether you are a beginner looking to buy a used bike to practice riding on or want to polish your sport riding, touring , or off-road riding skills on 

If you reside in one of the major cities in the United States or a prime location, finding a cheap used motorcycle in your region is a far-fetched idea. According to Nationwide Auto Transportation, Washington (Seattle), California, Alabama, Tennessee, Mississippi, and Arkansas are some of the most expensive states to purchase a used motorcycle. State taxes, number of dealerships, weather conditions, and riding culture of a particular state of America can significantly increase prices. In states, where the temperature is warm and riding all year round is possible, used motorcycles tend to be more expensive. On the other hand, in states where it rains frequently and severe temperature drops are experienced, used motorcycles cost way less. Aiming to clear their aging inventories before harsh winter approaches, many dealerships also offer well-maintained used motorcycles at unbelievably low prices. So when you are planning to buy a used motorcycle on a tight budget, remember that location makes a huge difference.

Similarly, just as location can help you snag a good deal on a used motorcycle when you buy a bike can also help you save money. While sales are going up in 2024 spring and summer, dealerships are anticipating reduced sales during winter or off-riding season. Similarly, as the year ends, prices of last season's models fall drastically because dealerships are on a timer to clear their showrooms to accommodate the latest models. So if you want to afford a new bike or a bike with very few miles on it, look for a model that no longer flaunts the tag ‘new arrival.’ 

Motorcycle type, make, brand, and model year all play a role in defining its price in the used market. For example, a 2018 Honda Rebel 500 would be way cheaper than a 2021 Harley Davidson Softail Heritage Classic because the latter has a larger engine capacity, is less old, and most importantly it is a Harley bagger. You can easily find a used motorcycle for under $3,000, but your expectations must be realistic. You cannot possibly expect to purchase a high-performance cruiser, fully decked bagger, or a high-capacity adventure or sport bike in a price range of $3,000-$10,000. 

Understanding how a motorcycle depreciates can also help you determine whether the motorcycle you want is justly priced, and if not, how to negotiate with the seller to strike a good deal. New motorcycles experience an initial depreciation as soon as you claim ownership and leave the showroom floors; however, after that, a motorcycle retains its resale value quite well, especially if it is properly maintained. Therefore, if you can find a motorcycle that may be older but in good condition, you can snag a good deal in the long run by maintaining the bike well and then selling it for a reasonable price. This way, you won’t have to lose money on initial depreciation, expensive replacements, and major repairs. 

More miles is not necessarily a bad thing on a motorcycle. If you have to choose between a motorcycle that has fewer miles on it, but is not well-maintained, compared to a bike that is in great condition but has over 10,000 miles on it, the better deal would be to choose the second option and save money on maintenance tasks. Therefore, when you buy a bike that has reached its 10,000-15,000 miles service interval and the maintenance records reflect that the owner has already taken care of it, that is the kind of bike you would want to buy compared to a bike that has 6,000-7,000 miles on it and you would have to get it maintained after a few thousand more miles. 

In the same vein as the previous point, asking for a motorcycle’s maintenance history, service records, and other receipts can help you gauge the condition of the bike and how much you would have to invest in terms of maintenance. It is also important to ask the owner about his usage, whether the motorcycle was used for highway travel, commutes, urban riding, trail riding, etc. Many owners also perform different maintenance tasks on their own, and if that’s what you find out, be sure to ask the owner about it and evaluate just how well he has maintained the bike under his ownership by checking his mechanical knowledge. When buying from a private seller, you also have to make sure whether the bike was involved in an accident. Furthermore, it is important to check the veracity of ownership and registration documents to make sure that it is not sold to another person. Also, check the bike’s odometer to avoid purchasing a salvaged bike. 

Considering your use of the motorcycle can also help you determine how much value you can get out of your purchase and whether it justifies the amount of money you have to pay. If you are buying a cruiser that you can use for everyday commutes, it is a profitable deal. On the other hand, if you are paying $7,000-$10,000 for a motorcycle that you will only use occasionally for touring, adventure riding, explorations, or camping trips, it might not be the most prudent purchase. For occasional use, renting a bike is a much wiser decision than owning a bike. 

When buying from a private seller, you would have to arrange a dull payment, usually in cash to be paid upfront. However, when you choose a bike from a dealership, you will be able to avail a finance facility. Buying a motorcycle with cash can seem to be a little difficult and you might have to use up all your savings. However, this approach is much better than taking a loan, paying more for the bike than its actual value in terms of interest. Moreover, buying a motorcycle with cash can save you from paying an installment every month. 

Over the years, used motorcycle price trends have been quite unpredictable, especially in the post-Covid motorcycle landscape. With many people losing their interest in discretionary purchases and focusing more on saving and mindfully handling their finances, there was a drop in sales, demand, and as a result, in the average wholesale used motorcycles prices. However, in 2024 spring of 2024, National Powersports Auction reported an upward trend with many motorcycle categories recovering from the negative value indicators. With a slightly higher demand, it is anticipated that the trend will remain stable throughout summer and the market will restore its pre-Covid patterns.

While many buyers are enthusiastic about completing their motorcycle purchases by summer, many riders can also wait until the off-season or the end of the year to purchase a decent motorcycle at a highly competitive price. While in 2024, there is still a looming threat of difficult financial conditions, riders are willing to take risks and are not letting any pessimism dictate their discretionary purchase decisions. If you too are interested in buying a motorcycle this year, it is best to heed NPA’s advice and closely monitor the market by checking different listings on online motorcycle marketplaces and reading NPA’s monthly reports to determine the perfect time for you to purchase your first or one of many two-wheelers.