Yamaha Motor’s North American loan portfolio grew 8.1%, while motorcycle sales in the region declined, the company announced in its third-quarter earnings report.
Yamaha’s financial services portfolio grew to $2.0 billion from $1.8 billion in North America year over year. The company did not cite a reason for growth.
The growth in financial services comes as motorcycle sales dropped 5% to $296.5 million in North America. The number of units sold fell to 48,000 from 49,000 year over year. Global motorcycles sales also experienced a decline in the period, falling 1.9% to $6.8 billion.
Meanwhile, other Yamaha powersports segments experienced sales growth. Specifically, North American marine vehicle sales rose 5.3% year over year, to $1.5 billion.
Additionally, the increase in unit sales of all-terrain vehicles and recreational off-highway vehicles in North America “led to healthy sales and reduced losses,” Yamaha wrote in a press release. North American sales in the recreational vehicle category, which includes ATVs and UTVs, grew 4.8% year over year to $536.9 million.