Vanderhall Motorworks, a manufacturer of three-wheeled autocycles, has seen year-over-year sales growth after signing Synchrony Financial as its retail lender in February, Daniel Boyer, marketing director at Vanderhall, told Powersports Finance.
Sales in the first quarter grew 66% compared with the same period the year prior. “A significant portion of that success was due to improved consumer financing terms for our clients,” Boyer said. Boyer declined to quantify how many vehicles have been sold since Synchrony signed with the OEM.
Vanderhall partnered with Synchrony to add finance options for its dealer network. A Vanderhall dealer previously told Powersports Finance that Synchrony’s lower interest rates helped the dealership sell more autocycles.
In addition to the sales growth, Provo, Utah-based Vanderhall doubled its dealer base to 56, adding locations such as California, Colorado, Florida, Kansas, Utah, and Austria. Vanderhall has had “successful launches” with franchised stores, so the company is working with “a lot of premium V-twin dealers,” Boyer added.
Vanderhall plans to reach 80 to 100 dealers by yearend, Boyer added. The OEM has three different autocycle models with its 2020 lineup launching in July.