BRP offered powersports rebates this month as high as $5,500, outpacing the financing promos of seven other OEMs, according to a report BMO Capital Markets provided to Powersports Finance.
BMO Capital tracked the promotions from Harley-Davidson, Polaris, BRP, Textron, Honda, Yamaha, Suzuki, and Kawasaki. Overall, OEM promotions were “slightly less aggressive” year over year and month over month, analyst Garrick Johnson wrote in the report. Of those OEMs, BRP was the most aggressive with promotions.
Valcourt, Quebec-based BRP launched a Spring Fever sales event this month. Promotions focused on prior-year models, with side-by-sides and Spyder three-wheel motorcycles carrying the most substantial offers, Johnson wrote.
BRP is offering up to a $3,000 rebate, or a two-year warranty plus a $1,500 rebate, for older model year Maverick side-by-sides. By comparison, last year’s Maverick promo was a $1,500 rebate or a two-year warranty plus $500.
On prior model-year Spyders, BRP is offering $5,500 rebates, compared with $3,000 last year. There were no promotions for current model-year Spyders.
BRP has also increased its focus on snowmobiles, with a four-year warranty and no payments until April for 2019 models. There were no promotions for new snowmobiles in February 2018. On prior-year models, BRP is offering the choice of 0% financing or a $2,019 rebate, compared with 0% financing and a $1,750 rebate last year.
Harley-Davidson and Polaris debuted some new powersports offers this month. For example, Polaris was offering financing rates of 2.99% for current-year Scouts and 3.99% for current-year heavyweight motorcycles. Polaris did not offer any promotions for current-model bikes at this time last year.
Older model heavyweight bikes have either a $2,000 trade-in credit, 2.99% financing for 60 months, or no interest until June and no payments until July. Scout models have either 0% financing for 60 months or no interest until June and no payments until July.
Meanwhile, Harley-Davidson brought back its Freedom Promise, which allows the buyer of a new or used Sportster model to trade in the motorcycle by Aug. 31, 2020, and get the purchase price back in trade value toward a new 2017, 2018, or 2019 motorcycle.
Harley is also offering an extended warranty for no extra cost with the purchase of a new 2016-2018 motorcycle, and 2.99% financing with no money down when purchasing a new touring motorcycle.
Dealers continue to advertise “aggressive discounts” on pre-owned Harley inventory, according to the report. “Our most recent spot check of 30 geographically diverse dealers indicates prior model-year inventory is up 27% in February, while current model-year inventory is up 17%, both on a year-over-year basis,” Johnson wrote.