Polaris promotions in June for current model year side-by-sides were “more aggressive” year over year, BMO Capital Markets Analyst Gerrick Johnson said in a report provided to Powersports Finance.
Polaris offered rebates up to $2,000 on side-by-sides, compared with $1,500 rebates last year, though interest rates on all current model year off-road vehicles increased to 3.99% from 2.99%.
Meanwhile, Polaris ratcheted down ATV rebates to $600, compared with $700 last year.
Polaris had three promotions for current model-year heavy motorcycles. Customers could choose as much as $1,500 for a trade-in; 0% APR for six months; or 3.99% financing. By comparison, last year’s promotions for heavyweight motorcycles were a $1,000 trade-in rebate or 2.99% financing year over year.
2019 Slingshots were available for 3.99% APR or a $1,000 rebate. Promotions for prior-year models had 2.99% APR or a $2,500 rebate compared with 1.99% financing or up to a $1,500 rebate year over year.
June promotions for other OEMs were “slightly higher” year over year, according to Johnson, which “likely stemmed from OEMs looking to help clear channel inventory following a challenging start to the selling season owing to extended cold and wet weather.”
BRP’s June offers for prior model year ATVs, snowmobiles and Spyders saw more aggressive promotions year over year. Current year Maverick side–by–sides continue to have “meaningful offers,” with up to a $2,500 rebate, or a two-year warranty and $2,000 rebate, Johnson said. Mavericks had a two-year warranty and $1,500 rebate or up to a $2,000 rebate last year.
Harley Davidson’s Freedom Promise trade-in offer on new or used Street or Sportster models continued in June. The promotion allows consumers to trade in their motorcycle by Aug. 31, 2020, for a value equal to the original purchase price.
Japanese OEMs were less promotional year over year. Honda and Suzuki offered the fewest incentives, while Kawasaki and Yamaha were “less aggressive” year over year for the first time in months, Johnson said.