LAS VEGAS — National Powersports Auction is eyeing Canada as its first international location, Business Development Director Tony Altieri told Powersports Finance at AIMExpo.
“We hope to have our first international location by the end of 2019,” Altieri said. “We’ve got a partner that has expressed an interest in doing that, so we’ll end up doing business in Canada sometime before the end of the year. The goal for us is that we want to do more to make doing business with us more convenient.”
Opening a location in Canada presents some logistical challenges, as the country is bigger than the U.S. However, most of the automotive and powersports business is located between Montreal and Toronto, so it presents a window for NPA to operate. NPA chose Canada since its powersports market is similar to the United States’.
“There are more snowmobiles sold in Canada than there are motorcycles,” Altieri said. “We’re in the snowmobile business, but we’re not 100% focused on it, and so we’ll have to learn and leverage our partnerships. It’s definitly the closest to our market. The lending landscape is different, the rules on the backend on how you handle repossession with a customer are totally different. We’ve already reached out to a number of the major lenders there and asked, ‘Hey, is there a need? Is there a desire? Can we help?’ And they are like, “Absolutely, nothing like this exists in our world.” We know there’s opportunity, we just have to do it appropriately.”
NPA has been focused on expanding its footprint and held the first auction at its newest location in Madison, Wisc., on Sept. 13. The auction company plans to add to its six U.S. locations in the coming months.