background

Rise in Repossessions Causes NPA to Move

  • Natalie Mattila
  • June 17, 2016
  • 0

IMG_2275National Pow­ersport Auctions’ Carrollton, Texas, facility will move into a new 140,000-square-foot building by September, according to Ryan Keefe, NPA’s director of marketing.

The Carrollton facility is 107,000 square feet and too small to house the increasing number of side-by-side and utility vehicles coming into the facility, Keefe said. NPA’s other locations include San Diego, Calif., Atlanta, Ga., and Cincinnati, Ohio.

Industrywide, year-to-date repossession volume for side-by-sides is up 49% from 2015, according to Jim Woodruff, chief operating officer of NPA. The repossession volume rise is due — in part — to a moderate rise in default rates and “strong retail sales and lending activity prior to this year, especially in the ‘oil states’ where side-by-sides have done well,” he added.

IMG_2288

Side-by-side vehicles line the floor at the Carrollton, Texas, National Powersport Auctions facility.

Despite the effects of the oil industry, side-by-sides have been gaining ground for the last five to six years across the country, and they have attracted a “new market,” Keefe said. “Side-by-sides are a vehicle that can include the whole family into one space with a two- or four-seater. It’s much more value-oriented.”

“Side-by-sides serve a segment that didn’t really exist before,” Woodruff added, “but I think what we are seeing is a consumer who would have purchased an ATV before is now finding that a side-by-side is an ideal choice for them.”

  Like This Article

Leave a Reply

Your email address will not be published. Required fields are marked *