On my ignition there are a couple positions, on, off, lock, and p. I assumed the lock was for the handle bar lock, but it doesn't lock when I switch it to that, when I switch it to P though it occasionally locks, but the front turn signals and the brake lights also come on when it's in P, so it's not really ideal for parking somewhere for a while haha I assume the Lock is for long term locking, and P is just for temporary? My question is why wont the handlebars lock when it's switched to the lock position? I can see the locking pin too that locks the handlebars, it moves a little in the lock position too, but fully engaged in P position. Thanks for any help!
There is a cam within the ignition switch mechanism that pushes the locking pin out when the key is turned.
the mechanism is a complete component and when they have broken in the past on vehicles I have worked on owned I have simply replaced them. Individual components within the ignition switch module cannot be purchased. If disassembled they may be able to be repaired/cleaned/lubricated in order to return them to normal operation.
Used parts merchants on various websites offer these ignition switch modules with key. The downside of this route is that you would have two keys.
One for the ignition.
One for the seat/helmet lock/fuel tank.
So you have three path's to resolution. Buy new, buy used and disassemble and repair which, I believe on your model, requires a special torx or torx with pin tool. Beware springs and ball bearing shooting out of the module upon disassembley, they are used to make contact and maintain it for electrical connections on the bike.
Best of luck.