Dealer Pulse

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Wells Fargo CDF Extends Dealer Financing With Suzuki

by April 19, 2017 at 10:50 am

Wells Fargo Commercial Distribution Finance extended its financing program with Suzuki Motor of America Inc., and will continue to serve the manufacturer’s network of powersports and marine dealers with inventory financing, according to a company press release. Suzuki Motor of America distributes motorcycles, ATVs, scooters, and outboard motors via an extensive dealerRead More

BMW Dealer Becomes First to Offer Virtual Reality Test Rides

BMW Dealer Becomes First to Offer Virtual Reality Test Rides

by April 13, 2017 at 11:04 am

Long Beach BMW Motorcycles is now offering virtual reality test rides, becoming the first BMW dealer to offer the experience in its showroom, according to a company press release. The Long Beach, Calif.-based dealer is taking advantage of this technology to give non-riders and riders the opportunity to test drive withoutRead More

Harley-Davidson to Bypass Captive for Lease-Like Program, Sources Say

Harley-Davidson to Bypass Captive for Lease-Like Program, Sources Say

by April 12, 2017 at 11:00 am

Harley-Davidson Motor Co. appears poised to offer a “lease-like” program through one of the “big agencies” in the rental space to offer non-traditional leases, said a source who asked to remain unnamed. The source was unsure if this agency will be EagleRider or another rental company. While the specifics ofRead More

Industry Consolidation Brings Big Banks More Business, Dealer-Operator Says

Industry Consolidation Brings Big Banks More Business, Dealer-Operator Says

by April 4, 2017 at 12:35 pm

As more powersports dealerships consolidate from standalone shops into dealer groups — a trend that is expected to continue this year — the larger banks and financial institutions will begin to see more dealer business, Ozzie Giglio, dealer-operator for The Windy City Motorcycle Co., told Powersports Finance. Dealer acquisitions haveRead More

Royal Enfield Adds 9 Dealers, Edges Closer to Nationwide Expansion

Royal Enfield Adds 9 Dealers, Edges Closer to Nationwide Expansion

by April 3, 2017 at 11:34 am

Royal Enfield North America added nine dealers to its network in March, bringing the manufacturer closer to its goal of expanding nationwide, according to the OEM’s website. Royal Enfield is “actively recruiting” new dealer partners, and set a goal to add between five to 10 dealers per month to theRead More

Rising Wholesale Interest Rates Place Dealers Under Financial Strain

Rising Wholesale Interest Rates Place Dealers Under Financial Strain

by March 16, 2017 at 12:03 pm

Rising floorplan finance interest rates — and manufacturer’s forcing too much inventory onto the dealer — prompted Buy Your Motorcycle to stop floorplan financing and sell four of its five dealerships, Owner Brad Van Horn told Powersports Finance. Arlington, Texas-based Buy Your Motorcycle now owns one dealership — and all of its inventoryRead More

Exiting Subprime Powersports Lenders Could Spur Dealer Co-Signers

Exiting Subprime Powersports Lenders Could Spur Dealer Co-Signers

by March 15, 2017 at 10:59 am

Shared-risk recourse financing — when the dealership guarantees the paper, and essentially co-signs the loan — between dealerships and lenders could reemerge in powersports if subprime lending options falter, Chris Clovis, dealer principle of Freedom EuroCycle Las Vegas and BMW Motorcycles of Las Vegas, told Powersports Finance. This risk sharingRead More

East Texas Dealer Eyes Lenders to Bulk Up Millennial Loan Approvals

East Texas Dealer Eyes Lenders to Bulk Up Millennial Loan Approvals

by March 7, 2017 at 10:30 am

Ross Motorsports is on the lookout for lender partners, particularly those with financing programs for millennial buyers, in an effort to boost approval rates, said newly promoted General Manager Ryan Williams. The Lufkin, Texas-based dealership sells Arctic Cat Inc., Yamaha Motor Corp., and American Honda Motor Co. brand vehicles. RossRead More