Did you get this fixed without having to get new handlebars?
I ask because you're right, that bolt can be loosened, then retightened after repositioning them. I found this out the other day when removing my bent handlebars from my Buddy (was in an accident and am replacing them since the left side is bent WAY down...).
Although we got my handlebars off without taking the panel off there the cigarette lighter is, I'm thinking I need to take that panel off to put everything back together...my husband had a heck of a time getting that bolt loosened from above and I think it's pretty darn important to get the bolt holding that on as tight as you can.
I must confess, in my scenario, we had all the top stuff off already since much of it was damaged: upper and lower handlebar covers, headlight, brake levers and turn indicators, and the front cover of course.
I'm just wondering how to go about taking off the panel where the cigarette lighter is...might have to start a thread if I can't find it in a search...
Past bikes: 08' Genuine Buddy 125, '07 Yamaha Majesty 400, '07 Piaggio MP3 250, '08 Piaggio MP3 500, '08 Aprilia Scarabeo 500
Current bikes: Two '09 Genuine Buddy 125's