MARKET DATA |
|
|
|
|
Q1 2024 dealer survey |
60 %
50 %
40 %
|
52 % |
HOW WOULD YOU CHARACTERIZE YOUR CURRENT EQUIPMENT INVENTORY LEVEL ?
40 %
50 %
|
2024 2023 |
With the financial reporting we shared from several of the industry ’ s largest companies ( pages 8-9 ), it ’ s fitting to share the viewpoint of OPE dealers through Q1 2024 . We asked dealers about revenue , inventory and their outlook . |
30 %
20 %
10 %
|
21 % |
8 % |
28 % |
Revenue
The OPE dealers who responded to our survey run businesses in a mix of sizes , and reported this revenue : Less than $ 500,000 ............................................................................ 15.6 % $ 500,000- $ 999,999 ............................................................................ 21.9 % $ 1- $ 2 million ......................................................................................... 18.8 % $ 2- $ 3 million ............................................................................................ 9.4 % $ 4 million or more .............................................................................. 34.4 %
Which product segments provided the most growth in Q1 ?
Compared to Q1 2023 , the growth opportunities are similar for OPE dealers we surveyed . Zero-turn mowers lead the way , with battery-powered equipment continuing to provide growth opportunities . Tractors made the list this quarter ; that ’ s a change from the previous year .
How would you characterize current inventory level ? OPE dealers are much more concerned about too-much inventory this year than in 2023 ( chart to the right ).
0 %
35 % 30 % 25 % 20 % 15 % 10 % 5 % 0 %
4 % 2 %
Up 21 % or more
Too high About right Too low
WHAT ’ S YOUR YEAR-END REVENUE EXPECTATION FOR 2024 COMPARED TO THE PREVIOUS YEAR ?
20 %
10 %
Up 11-20 %
30 % 28 %
Up 1-10 %
16 % 16 % 14 %
Flat
27 %
Down 1-10 %
12 % 11 %
Down 11-20 %
2024 2023
6 %
4 %
Down 21 % or more
Source for all charts : OPE +
Rental equipment 5 %
Construction equipment 5 %
WHICH PRODUCT SEGMENTS PROVIDED YOU WITH THE MOST GROWTH IN Q1 ?
UTVs 7 %
Other 22 %
Chain saws 10 %
Battery Equipment 11 %
Zero-turn mowers 25 %
Tractors 15 %
Rate your level of concern for the following external factors . Consumer financing – 44 % are Very or Extremely Concerned Issues outside U . S . – 48 % are Very or Extremely Concerned Price inflation – 60 % are Very or Extremely Concerned U . S . politics – 68 % are Very or Extremely Concerned Supply chain – 29 % are Very or Extremely Concerned
Dealer Comments :
“ Manufacturers and banks are out of control . Flooring is ridiculous , dealer programs from manufacturers are being eroded and people are economically stressed .”
“ Honda leaving the mower market has caused users to reconsider what they purchase . This opens the door for others such as Stihl to enter the mower market . We are taking advantage .”
10 OPE + May 2024 www . OPE-Plus . com