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Main Street Motors interview with Basem Wasef

(401)828-4545
(401)316-1998
(401)316-1994

MainSales@MainStreetAutos.com

Ask the Experts > Main Street Motors interview with Basem Wasef


Where do you see the motorcycle industry ten or twenty years from now?

The industry saw 14 years of consecutive growth until 2007, and the sales
contraction we’re currently experiencing is more a function of the global
economic recession than anything else. Awareness and interest in
motorcycles is stronger than it’s ever been, so I’m expecting a strong
recovery when all the financial ducks are in a row. Escalating fuel prices
won’t hurt the argument for motorcycles, and emerging markets like China
will boost worldwide sales at least into the next decade. But twenty years
from now? My crystal ball gets a little foggy that far into the future.

When do you believe the motorcycle market will recover?

If the trends we’re currently seeing continue, the bulk of the motorcycle
market should be looking up by next year. It might take longer for a brand
like Harley-Davidson to recover, as premium cruisers are typically more
discretionary purchases than the bike genres selected for basic
transportation (like dual purposes and scooters.)

Where's the next biggest market for motorcycles?

We’re seeing a frenzy in the electric motorcycle market that’s not
dissimilar to the early days of the automobile: lots of small
manufacturers vying for survival, and a market that cannot sustain every
brand. Electric scooter manufacturer Vectrix has filed for bankruptcy, but
Brammo’s Enertia will be carried at Best Buy—it’s sink or swim these days
for electric bikes, but they will become increasingly popular when
consumer acceptance reaches critical mass.

Do you believe it was a smart decision for Congress not to include
motorcycles in the "Cash for Clunkers" program?

I wouldn’t call the decision for Congress not to include bikes in Cash for
Clunkers “smart,” I would say it was rather a lack of vision for how
motorcycles can be part of the transportation solution. Motorcycles are a
natural fit for Cash for Clunkers: they ease congestion and can get 50 +
miles per gallon. But if the government were to incentivize new motorcycle
sales, it would be wise to include mandatory training since a majority of
accidents involve motorcyclists who have been riding for 6 months or less.
If executed correctly, motorcycles could be a great component in the Cash
for Clunkers program.

What are some of the hottest motorcycles on the market?

Scooters and dual purpose bikes experienced a significant growth spurt in
2008, but those numbers are down for 2009—as have sales figures for
virtually all consumer items. Off-road motorcycles are currently among the
least affected by the financial meltdown, but I think there’s still plenty
of growth potential in the U.S. scooter market, especially considering
there’s less rider commitment involved (as opposed to traditional
motorcycles.)

What are some of the hottest used motorcycles on the market?

Used beginner bikes will always enjoy strong sales; “horizontal parking
maneuvers” are inevitable with new riders, and who wants to bang up a new
bike? Starter motorcycles like the Kawasaki Ninja 250R are hot items, as
are scooters of all sorts. Style-wise, 1960s and 1970s era café racers
have been hot for some time, as have old Vespas… but I’m also noticing a
resurgence in 1980s era superbikes.

The Japanese are and probably will be protectionist when it comes to there
products but when it comes to the Harley Davidson motorcycles they can't
seem to get enough of them. In your opinion, why do you believe this is
the case?

The Japanese may be protectionist when it comes to import taxes on foreign
bikes, but their enthusiasm for eclecticism is extreme. I recently spent
some time in Tokyo, Yokohama, and Kyoto and was blown away by some of the
custom bikes I saw. That said, the Harley-Davidson phenomenon seems to
appeal to the Japanese because of its authenticity; Harleys manage to
embody a sense of Americana like few other mechanical objects. Honda may
have managed to emulate the potato-potato exhaust note (before a trademark
copyright lawsuit deemed the sound too close to Harley’s), but there’s no
way to copy the heritage evoked by the American brand.

The car business seems to be transforming into "mega" new and used
dealerships. Do you foresee a time when new and used motorcycle
dealerships are going to become "mega" stores?

Motorcycle sales may be suffering due to the economic climate, but once
business picks up we’ll likely see more so-called megastores; the trend is
inevitable across all industries. One-stop-shopping may be convenient, but
we lose something irreplaceable when mom and pop businesses shut down.

What's your favorite motorcycle on the market?

My favorite bike is subject to change at any given moment, but at this
minute it would have to be the BMW S1000RR superbike—in theory. It’s
priced within about $1,000 of the Japanese competition, and it’s got
fierce specs—but I’ll reserve final judgment until I ride the thing.

What's your least favorite motorcycle on the market?

I’d have to put a blanket statement on knockoff scooters; they tend to be
uninspired copycats, often of dubious build quality. Originality rules,
and there’s nothing as refreshing as inspired design.

What motorcycle models are you most excited about?

I’m moved when more is done with less, since motorcycles are so intimately
entwined with both form and function. Where to begin? Triumph builds some
great sport bikes, like the Speed Triple and the Daytona 675. Likewise,
Ducatis of late have struck a great balance between passion and
reliability. Electric motorcycles are loads of fun, and I really enjoyed
the Zero X—even if it tried to kill me!

What motorcycle models are you least excited about?

It’s hard not to get excited by motorcycles, even exercises in excess like
the Boss Hoss V8. But I find that high dollar choppers leave me cold; give
me a tastefully executed, reasonably priced custom any day. I’ll probably
never understand spending six figures on a glossy chopper.

In February Warren Buffet injected $300 million in Harley-Davidson
Motorcycle company. Do you believe this was a smart investment by Warren
Buffet?

I’m guessing that Mr. Buffet’s financial prowess outweighs his potential
for blind spots, and Harley-Davidson has been in business for over 100
years. The Motor Company may be down, but it’s still hard to argue with a
company that commands a nearly 50% share of the new motorcycle market.

Have you ever tried to pick up a girl while riding a motorcycle?

Certain bikes have certainly attracted the attention of the opposite sex
at red lights. But I’m married to the girl of my dreams, so I usually just
enjoy a little smile inside my helmet before the light turns green.

If a person walked up to you and said "Basem, I have $20,000 what
motorcycle should I buy?" what would your answer be?

That really depends on what type of bike the buyer is considering. Twenty
grand will get you a whole lot of bike in almost any category; if you’re
into sport bikes, you can pick up a 2009 Ducati 1198 S with traction
control for $21,795. If power cruisers are your thing, the $19,500 Yamaha
V-Max will never leave you wanting for power, and a loaded, incredibly
versatile BMW R1200GS could be also be had for the same amount of cash.
Heck, you could almost buy two $10,799 Harley-Davidson XR1200s for twenty
grand, or even five $4,000 Kawasaki Ninja 250Rs for the same money!

If money weren't an option, what motorcycle would you buy?

I’d track down a Brough Superior SS 100, arguably one of the most
beautiful motorcycles ever made. The bikes were hand built in the 1920s,
and T.E. Lawrence (better known as Lawrence of Arabia) owned several. I
profiled the SS100 that killed Lawrence in my coffee table book Legendary
Motorcycles, and the bikes are extremely sought after in the collector
market. Ahh, if only money were no object!

 


Shane @ Main Street Motors:
Thanks Basem.


If anyone has any questions or comments please email me. I will post them on site. E-Mail @ MainSales@MainStreetAutos.com

Basem Wasef Bio

 

 
 
 
 

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