Two Texas dealerships are anticipating that more consumers will be hitting the waves on jet-skis this summer.
Freedom Powersports projects 12% to 15% sales growth for the year, said Regional Operations Manager Chase Vance. The dealer group’s Lewisville, Texas, location sold 461 Sea-Doo and Yamaha watercrafts in 2018 and has “really amped up” its jet-ski inventory this year, Vance said. In January and February, jet-ski sales grew 49% combined for all its locations year over year.
Increased rain in the region was a driver for the sales growth, as lakes and rivers were full in 2018 and early 2019, Vance said.
About 50% of jet-skis are financed, and that number hasn’t changed for Freedom Powersports thus far. The dealer group works with lenders such as Synchrony Financial and Citi Retail Services.
BMG X-treme Sports also increased its stock of jet-skis after seeing a positive turnout from consumers in 2018. “[Last year,] we didn’t start picking up until about late May or early June,” said Finance Manager Megan Rodriguez. “Once it did hit those months, we sold a good amount. We sold about 15 to 20 units in the span of about two months.”
This year, Laredo, Texas-based BMG has 25 Sea-Doos in inventory, about half of which are 2018 models. Rodriguez is “hoping for a good turnout” because of the $750 rebate promotion for 2018 Sea-Doos. BMG has already received four or five credit applications from consumers.
Sheffield Financial and Roadrunner Financial finance jet-skis for the dealership.
Meanwhile, Wausau, Wis.-based Aqua Finance, which specializes in near-prime and subprime lending for marine and recreational vehicles, is “very optimistic” about growing its jet-ski business, Senior Vice President of Sales and Marketing Jim Anderson told PSF.
The lender has an “aggressive” finance program that is “attractive” to dealers and consumers, which will help spur growth, Anderson added without being more specific. Aqua Finance offers terms as long as 144 months.