Unless you've been living in a cave for the past 6 months, it's been pretty difficult for a day to go by without hearing yet more gloomy news on the economy. And for many of us, it hasn't been just watching/reading news or water cooler conversation--it's been a brutal, harsh reality. Like most big corporations, SR's parent publishing company has trimmed staff down to skeletal levels, and a few friends outside the magazine have been let go after years of service by their respective companies. For quite a few of us, the New Year was rung in with, "So long 2008, don't let the door hit you on your way out."
Nowhere in the motorcycle industry has the economic meltdown been felt more severely than with the OEMs. During the first half of 2008 when gas prices were at all-time highs, small displacement motorcycles were helping keep overall sales figures at least somewhat passable. With the ensuing credit market lockdown however, that has put the brakes on the majority of bike sales, since most bikes are purchased on credit. Several manufacturers have seen their month-to-month sales for the latter part of 2008 plummet by as much as 50 percent from the previous year, a stunning drop that undoubtedly affects any company's plans for promotional activities in the coming season.
For those many of us who are still paying off a bike loan, a word of advice: Don't slack off on the monthly payments. Your credit rating will now be more important than ever in the future, and late payments or a loan default can do serious harm to your ability to secure financing for more important items. And if your economic situation forces you to sell the bike, make absolutely sure that you are not on the hook for any part of the original loan for the bike.
Needless to say, the state of the economy means that more riders who might have been looking at a new model purchase will be holding on their current steed a while longer. This scenario--plus the skyrocketing price of gas during last year--has contributed to at least one small silver lining for the OEMs: parts sales for some older models have spiked enormously, with some companies scrambling to keep up with the demand.
When we conducted our own reader survey several years ago, we found a surprising majority of responders didn't do much of their own bike maintenance. This even extended even to something as simple as changing their bike's oil and oil filter. Considering the increased complexity and ultra-tight packaging of today's sportbikes, it's an understandable trend by people who get intimidated just looking inside the fairing of their motorcycle. But in this current economical state where everyone is trying to stretch the efficiency of every dollar they spend, we'd venture to guess that particular trend will fade away. With that in mind, we'll be bringing back the "Hands On" how-to mechanical articles to help everyone get a better grasp of working on their own machines. You'll be pleasantly surprised to see how many tasks that were previously thought to require the special tools and resources of a dedicated bike shop, can actually be performed by an average person with easily obtainable tools and a modicum of mechanical aptitude.
We'll also be returning to featuring various older generations of particular sportbike models. But instead of modifying it ourselves like we did with the "This Old Bike" series, we'll be taking a closer look at what others have done, what to look out for if you're shopping for one, what aftermarket pieces are still available, etc. We'll be looking for feedback from readers on their rides as well (with some prize incentives), so keep your eyes peeled and your cameras (um, no cellphone shots please) ready.
Many motorcyclists are innovative, if not imaginative; we find ways to weather the rough spots by using everyday items and fashioning them so that they perform a necessary task while riding. We'd like to see or hear about your ideas on stretching your motorcycling dollar. Let us know at srmail@sorc.com. We'll be doing stories on ways to save you money--as well as articles on why you shouldn't skimp on certain areas of your bike, riding gear, or yourself.
Times are certainly tough right now, but they will soon pass. And motorcyclists are certainly resilient--as is the motorcycle industry itself.