Monthly incentives from manufacturers were less promotional year over year, possibly due to confidence in the spring buying season, according to a report BMO Capital Markets provided Powersports Finance.
“April is right in the heart of the selling season, and at this time [OEMs] usually aren’t promoting current-year product, which will soon be prior-year product,” said Analyst Gerrick Johnson. “Model year changeovers are in July and August, so Memorial Day is when you start seeing those promos to get rid of product that will soon be prior-year product.”
Monthly promotions from manufacturers were more aggressive on off-road vehicles, the report said. Promotions from Polaris Industries focused on off-road and slingshot offers. Polaris was running a promo on 2018 ATVs for 3.99% APR and as much as $1,000 in rebates. Comparatively, only $500 to $900 rebates were offered in April of last year.
For More Read: Yamaha Leads Off-Road Promotions in March, Analyst Says
Additionally, 2019 Polaris Rangers were available with rebates as high as $1,500 with 3.99% APR. Consumers could also find 3.99% APRs and three-year warranty offers for Slingshot 2019 models.
BRP was “middle of the road” with its offers in April, according to the report. ATVs, Defender side-by-sides, and current model year snowmobiles were promoted more aggressively compared with the same time last year. For example, 2019 Defenders were available with a $1,500 rebate or a $1,000 rebate plus two-year warranty. Last year’s rebates were $700 without a warranty or $200 with one.
Yamaha is one of the more promotional OEMs, and its April incentives were focused on ATVs, most of its side-by-sides, and prior model year jet skis. Side-by-side promos included 2.99% APR and $1,000 rebates, compared with 1.99% APR the previous year.
After several months of no promotions, Textron 2019 ATVs were available with savings up to $2,500, and 2019 side-by-sides savings up to $1,800. Textron’s offers were some of the “most significant from a dollar standpoint” but were the same as last year’s offers, the report said.