For the second straight month, Textron offered “aggressive discounts” on current model off-road vehicles after having limited promotions for several months prior, according to a report BMO Capital Markets provided Powersports Finance.
Textron offered rebates up to $2,500 on current model year ATVs for its Arctic Cat brand. The rebates are more aggressive than promotions from this time last year, when Textron was offering 5.9% APR and an extended warranty or an $800 rebate and extended warranty.
Current model year side-by-sides also had rebates as high as $1,800. Compare this to the same extended warranty offer that Textron was offering in May 2018. The OEM only had promotions for 2019 models in May, even though it had $2,500 rebates on prior year models the same time last year.
Other manufacturers also pushed off-road promotions in May, which were better deals on a month-over-month and year-over-year basis, according to the report.
For More Read: OEM April Promotions Weaker Than Previous Year, Analyst Says
Polaris Industries extended its Spring Sales Event until the end of May, possibly spurred by a slower start to the spring buying season, the report said. The OEM had promotions focused on current model year side-by-sides, prior model year ATVs, and all motorcycle and Slingshot models. Polaris Rangers were available for rebates up to $1,500 compared with $1,200 the same time last year. Prior year ATVs were available with rebates up to $1,000 and 2.99% APR.
Heavyweight Indian Motorcycles were more promotional than the same time last year, with rebates up to $1,500 for current models and up to $2,000 for prior model years. Meanwhile, Scouts and middleweight bikes had 0% financing until 2020 or 3.99% APR for 60 months on both current and prior-year models.
BRP, meanwhile, was “aggressive” in promoting its current model Defender side-by-sides. Defender promotions included up to a $1,500 rebate, or a two-year warranty with a $1,000 rebate. BRP offered a two-year warranty and a $500 rebate or a $1,000 rebate in May 2018. Additionally, BRP offered a three-year warranty and a $150 rebate on 2019 personal watercrafts. By comparison, the OEM offered only a three-year warranty this time last year.