The electric motorcycle manufacturer Zero Motorcycles signed with floorplan finance provider Northpoint Commercial Finance in September, Darren McCarthy, vice president of business development, told Powersports Finance.
Northpoint is making inroads as an alternative wholesale financier in the industry, according to McCarthy.
“It’s word of mouth, once we start doing business with these dealers almost without exception they really enjoy the increased level of customer service,” McCarthy said. “That’s how we’ve grown. Overtime that [marketshare] percentage continues to uptick.”
This is not the lender’s first foray into electric motorcycle financing. Back in January, Northpoint partnered with Linhai Powersports USA Corp. — U.S. branch of Jiangsu Linhai Power Machinery Group Corp. — to provide floorplan lending to the company’s line of ATVs, UTVs, gas-powered motorcycles, and electric motorcycles.
Additionally, Northpoint signed several multi-year floorplan financing agreements in 2016, including Argo XTV, Massimo Motor, and CFMoto USA.
Scotts Valley, Calif.-based Zero Motorcycles has produced electric motorcycles since 2006 and offers fleets to businesses, police, and military operations to more than 100 agencies around the world that use the quieter vehicles for emergency operations and special applications. Zero Motorcycles did not respond to a request for comment by press time.
For more insights like this, attend the third annual PowerSports Finance 2017 conference, which is slated for Oct. 24-25 at the Wynn Las Vegas. The full agenda can be viewed here. To learn more — or to register — for this year’s event, visit the PowerSports Finance 2017 homepage here.1 - Reader Likes This Article