With powersports sales on the rise, and delinquencies ticking up in certain segments, here are five notable numbers for the powersports industry.
61% — 61% of consumers, dealers, and F&I institutions researched the Polaris Industries Inc. for side-by-side vehicles in the first quarter, according to NADAguides.com. Polaris continues to be the leading top-research brand for side-by-side vehicles in 2016. Following Polaris is Kawasaki Motors Corp. with 14%, Can-Am with 11%, Yamaha Motor Corp. with 8%, and Arctic Cat with 6%.
Side-by-side vehicles “serve a segment that didn’t really exist before, but I think what we are seeing is that consumers — who would have purchased an ATV, or who would have built custom-made buggy or other vehicle — are finding that side-by-sides are an ideal choice for them,” said National Powersport Auctions’ Chief Operating Officer Jim Woodruff. Side-by-sides cover a “much broader demographic than ATVs or buggies,” he added.
6% — Industrywide, repossession volume for domestic cruisers is up 6% from the same time a year prior, “more so in big ‘oil states’ and generally flat elsewhere,” according to Woodruff.
1.5% — Jet boats and personal watercraft continue to be “strong performers” this summer, according to the latest Black Book Market Insights report. Both segments’ wholesale values are up by 1.5% from June to July. Personal watercraft were also up by 1.5%, or $97, from May to June, but jet boats showed a larger gain of 2.3%, or $482, according to last month’s report.
73% — The percentage of consumers, dealers, and F&I institutions that researched Harley-Davidson Motor Co. motorcycles in the touring brand category during the first quarter, according to NADAguides.com. Honda rang in 10%, and Yamaha had 7%. Harley-Davidson also had 57% of researched views in the cruiser brand category, above Honda’s 14%.
49% — Industrywide, year-to-date repossessions for side-by-side vehicles are up 49% in 2016 from the same time a year prior. The rise is due, in part, to a moderate increase in defaults as well as “strong retail sales and lending activity prior to this year,” Woodruff added.
Recently, motorcycle loan provider ThunderRoad Financial piloted an ATV and side-by-side vehicle financing program to serve the growing demand. “Performance wise, ATVs and side-by-sides do extremely well with regard to depreciation and losses,” Donal Hummer Jr., president and chief executive of ThunderRoad, previously told Powersports Finance.