Kayo USA, a manufacturer of ATVs, is searching for retail lenders to partner with and grow its presence in the U.S., Service Manager Anthony Fay told Powersports Finance.
The company is the U.S. branch of Kayo Motors, a Chinese manufacturer of off-road vehicles. Kayo USA began operations in the U.S. two years ago to test the market and decided to go “full bore” this year to grow its business, Fay said.
Kayo USA works with Northpoint Commercial Finance for wholesale lending and is looking for a partner to handle consumer finance. A Kayo USA ATV averages between $1,000 to $3,500, so the OEM is looking for lenders with low minimum finance requirements or those willing to lower their requirement for the ATVs.
“We’re mainly looking for consumer financing from some of the bigger companies like Synchrony Financial, Sheffield Financial, or Roadrunner Financial,” Fay said. “[Not having a retail lender is] one of the main things holding some dealers back from signing up.”
The OEM’s mid-sized ATVs are geared toward riders ages 12 and up. The company is hoping to “fill a void” in the market by manufacturing “a new product that is cost effective with good quality, built to last, and it can be handed down from one kid to another,” he said.
Kayo works with 100 dealerships nationwide, but it’s looking to expand to larger dealers that carry vehicles from OEMs like Honda and Yamaha. The OEM has locations in California, Texas, and Georgia.