Retail powersports sales experienced steady growth in October, according to a report Wells Fargo Securities provided Powersports Finance.
“Collective October U.S. core powersports unit retail [sales] likely grew in the low single-digit percentage, consistent with year-to-date trends,” Senior Analyst Timothy Conder wrote in the report. Growth appeared strongest in the South Central, Great Lakes and Pacific Northwest, with ongoing weakness in the Northeast and West Coast, he added.
Overall motorcycle sales were in line with trends, though sales by categories were mixed. Sales of heavyweight bikes have been “challenged” this year but experienced growth in October, Conder wrote.
Sales of on-highway and sport bikes declined in the single-digit percentage year over year. While dual sport bike sales have been “weaker” over the past two to three months, October sales grew, Conder added. The off-road bike segment rose in the double-digit percentage year over year.
All vehicle categories in the off-road segment climbed, with ATV and side-by-side sales notching mid-single-digit growth year over year. Momentum for side-by-side growth will likely continue into 2020 due to new product launches from Polaris and BRP, such as the Ranger 1000 and Defender Pro.
For November, Wells Fargo “will continue to monitor the potential for ‘political pause’ around the very uncertain 2020 presidential election,” Conder said. However, the risks of the election will likely be more limited in the powersports space.