New product features spurred customer interest for Indian motorcycles and side-by-sides in the first quarter, pushing up loan volume as much as 20% quarter over quarter at ThunderRoad Financial, Chief Operating Officer Kristi Mercier told Powersports Finance.
“Indian is really making a push in the marketing and development of their new product lines, and the consumers are definitely paying attention,” Mercier said, noting that “a lot” of dealers were making inquiries on the vehicles.
Mercier was unable to quantify the exact amount of Indian Motorcycle loans for the quarter, but Indian bikes were outperforming the metric bike category, which includes brands like Honda and Yamaha.
Among side-by-sides, the Can-Am Maverick, the Polaris Razor, and the new Honda Talon were popular with consumers. “You can definitely see there were product developments [made], and the customers are eating it up,” Mercier said. Some of those product developments include multiple seats for a family experience, she added.
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Previously, Reno, Nev.-based ThunderRoad increased its approval rate to 54% in the first quarter compared with 15% the same time the prior year, spurred by the creation a 24-to-48 month program in response to dealers looking for shorter terms than those being offered by OEM promotions.
ThunderRoad works with more than 500 dealers in 28 states and finances all makes and models — both new and used — and all credit tiers.