The program provides inventory financing solutions and other services to the powersports manufacturer’s dealer network, the companies announced in a press release last month.
Kymco manufacturers scooters, motorcycles, ATVs, and side-by-sides, which are exclusively distributed in North America. Founded in 1963, Kymco — wholly owned by Kwang Yang Motor Co. Ltd. — has its sales, marketing, and distribution center in Spartanburg, S.C. Kymco serves over 500 dealers nationwide.
Separately, Kymco is offering a “Customer Choice” offer of customer cash or extended warranty on purchases of 2015 and 2016 year models through Sept. 30, according to its website. Extended warranties will include an additional year of warranty at no cost, or customer can receive up to a $450 rebate on select 2016 and 2017 year model motorcycle, scooters, ATVs, or UTVs.
Wells Fargo CDF has been in an active renewal period with its manufacturer partners over the past two years, including the inventory financier’s most recent renewals with Suzuki Motor of America Inc. in April; Ducati North America Inc. and Ducati Canada Inc. in May; and Triumph Motorcycles in December 2016.
Chicago-based Wells Fargo CDF provided $46 billion in financing for more than 33,000 dealers and 1,400 distributors and manufacturers globally in 2016.
For more insights like this, attend the third annual PowerSports Finance 2017 conference, which is slated for Oct. 24-25 at the Wynn Las Vegas. The full agenda can be viewed here. To learn more — or to register — for this year’s event, visit the PowerSports Finance 2017 homepage here.