In this week's show, Ray talked us through his insurance win, we have another look
They’re one of the oldest names in motorcycle accessories in the New Zealand market, and now Auckland-based Forbes and Davies are set to move into the motorcycle game fully by taking on distribution for a number of brands.
Announced today (June 7th, 2023), brands CFMOTO, Sherco and Kymco will soon join the Forbes and Davies stable of brands. Currently, all three are distributed via Australian firm Mojo Motorcycles and it would appear that Mojo Motorcycles is handing them over to Forbes and Davies as part of a strategic move by both company's parent, MotorCycle Holdings Limited.
The move comes after a mutual agreement was reached between the current distributor, Australian-based company Mojo Motorcycles Pty Ltd and Forbes and Davies (NZ) Ltd, who are both subsidiaries of MotorCycle Holdings Limited (ASX: MTO). Mojo Motorcycles introduced CFMOTO into the New Zealand market in 2014. Sherco and Kymco subsequently followed in 2015 and 2020, respectively.
“We believe that transitioning the importation and distribution of motorcycles, ATVs, and scooters (including electric models) to Forbes and Davies will present significant growth opportunities to expand our market share and coverage for these iconic marques in New Zealand,” says MotorCycle Holdings Managing Director, David Ahmet
“This strategic move is mutually beneficial for all stakeholders, and we are extremely confident that Forbes and Davies’ formidable reputation and local market knowledge, coupled with the Mojo Group’s extensive product knowledge, proficiency and continued development will elevate all facets of the brand experience for New Zealand customers.” Mr Ahmet concluded.
MotorCycle Holdings says, following a comprehensive market study and thorough business analysis, the senior management team elected to transition the distribution of motorcycle whole goods and genuine spare parts to Forbes and Davies via a phased approach over the coming months. This is expected to be finalised by December 2023.
“It has been an honour and privilege to establish such iconic motorcycle brands in the New Zealand market. Mojo has enjoyed considerable growth in NZ in recent times, to the point we were looking to expand our local operations just prior to our acquisition by MotorCycle Holdings last October, says Michael Poynton – General Manager, Mojo Motorcycles. Naturally, this presented an array of opportunities that were unavailable to us beforehand. It became clear that consolidation and transitioning the NZ distribution to Forbes and Davies would not only ensure continued growth but yield the best long-term outcome for all stakeholders, including our loyal and passionate dealer network and customer base. We thank them for their many years of support and continued support beyond.”
“For Forbes and Davies, it makes great sense to add motorcycle distribution to our stable of sensational products, says Forbes & Davies General Manager, John Holding. "As one of New Zealand’s leading powersports importers and wholesalers, we have strong industry relationships and intimate local market insight, which will enable us to enhance our product offering further. We’re pleased to carry on the great work of the Mojo Group and look forward to their continued collaboration in growing the CFMOTO, KYMCO and SHERCO brand experience in New Zealand. We have invested heavily in expanding our infrastructure and staffing at both our North and South Island locations in preparation for this exciting addition and to ensure the continuation of our market-leading support to our dealers.”
The transfer of distribution will occur over the coming months and is expected to be completed by the end of 2023. Dealers and customers should observe minimal impact during this time, with a seamless transition planned by the three parties for the continuity of customer service, motorcycle and service parts supply and warranty administration.
A strong, nationwide dealer network is imperative to delivering ongoing success and consumer confidence. Consumers are more likely to purchase from brands who have a presence in their local community and provide assurance via aftersales support. Anton Giacon will continue in his current role, working closely with dealers to drive continued sales growth of the CFMOTO, KYMCO and SHERCO brands.