Who thinks only offering a 12 month warranty is acceptable in nsw? So you could pay ($2895 + $708) = $3603 to operate the bike for a year and then on the 13th month, have a malfunction and their claim is that the warranty would be over.
And also you can pay $225 for an additional 12 months of warranty.
Also the warranty is void as soon as you transfer the ownership of the bike to someone else.
Under the ACCC rules on offering a product of reasonable quality for a reasonable amount of time (commensurate to the price), surely you would be entitled to a free repair for a period of more than 12 months on such an expensive purchase? I'm surprised they decided to go cheapskate on the warranty for a luxury product.