September vehicle values for the off-road segment dropped unexpectedly, as values for almost every powersports vehicle dipped, according to a report Black Book provided Powersports Finance.
“Prices this month reflect both normal seasonal trends, as well as the fact that new-model sales have been somewhat sluggish this year, with many dealers awaiting incentives from the manufacturers to help move inventory,” Scott Yarbrough, senior analyst for Black Book, wrote in the report. “This has naturally led to diminished demand on the used side as well, and prices this month are reflecting that.”
While it’s typical for on-road segments to decline in value during the fall, the off-road category usually grows in value. However, the entire off-road segment declined by “unexpectedly large amounts,” Yarbrough said. Off-road bikes declined the most of all segments, dropping 3.6% month over month, Yarbrough added. ATV values declined 2.3%, and UTV values dropped 1.6% month over month.
The rest of the powersports segments followed typical seasonal trends. Street bikes had the second-largest drop in value, falling 3.5%. Domestic V-Twins declined 2.5%, while metric cruisers dropped 3%.
Join us for Powersports Finance Summit 2019, October 23-24 at the Hilton San Diego Bayfront. At the Summit, lenders and dealers will have the opportunity to learn new information that will help their business grow, discuss the latest industry data and trends, and network to form new relationships with fellow attendees and vendors. Register now at www.powersportsfinance.net.