12 • August 2024 • Powersports Business

FROM THE EDITOR

INSTA TIPS

Is your dealership capitalizing on the top-of-mind marketing ease that Instagram offers ? Did you come up with an ideal way to showcase your customers in an effort to help spread the word about your shop and its employees ? If so , let us know . Powersports Business will highlight Instagram posts from a variety of dealerships in upcoming editions of the magazine .

Dealerships featured all follow the Powersports Business Instagram at @ powersportsbusiness . All posts featured will be photo or video in nature , with content from Instagram Stories not considered for this piece .

Got an Instagram tip that works at your dealership or one with which you do business ? Feel like raising the collective industry tide ? Let us know at mhubbard @ epgacceleration . com .

I love ice cream . Really , who doesn ’ t ? But I can ’ t eat it without taking a Lactaid pill . It ’ s a bummer since I was a massive consumer of ice cream products as a kid . I rode my bike to Dairy Queen almost daily for a chocolate malt milkshake . But later , I discovered that dairy just

BRENDAN BAKER didn ’ t agree with me anymore . My demand for frozen dairy treats dropped significantly afterward .

Now , the demand for powersports has also softened . Most OEMs are reporting a challenging Q2 due to soft demand , and dealers are being very cautious about stocking too many units and being stuck with an oversized floor plan bill .

The second quarter results suggest that consumers and dealers are holding onto their wallets and being cautious with spending on anything but the necessities . But there are always silver linings to any dark cloud . Harley , for all of the clouds following it , beat out expectations with only a slight dip in North American retail sales ( -1%), which the company ’ s CEO deemed not bad in a declining market . Yes , North America is a mature market for powersports , especially for Harley , since most customers have grey in their beards or hair . Despite this , the Motor Company still managed to pick up market share and even crushed it with the CVO and touring line , reporting a 12 % bump .

Meanwhile , Polaris ’ run seemingly hit the skids in Q2 , cutting its EPS guidance by 53 %. I don ’ t put too much into a company ’ s stock price or earnings per share unless it is a guide for other things . In this respect , Polaris is following a similar playbook as other OEMs grappling with reducing inventory at the retail dealership level . BRP did this back in May and is starting to recover . However , the same issues have hit both companies , which produce about 50-60 % of the powersports vehicles in North America .

While retail sales appear soft , Polaris noted that April was its weakest month in Q2 , with May and June showing slightly higher demand . Some of that demand may be due to higher promotional activity that has picked up and more support for dealers with floor plan financing .

Stifel ’ s Canadian investment arm covering BRP , believes that with Polaris and BRP following similar inventory reduction measures the true earnings power of both companies may be blurred by non-recurring items such as a 15 % -20% inventory reduction at dealerships ( BRP ) and the impact from

a weak snowmobile season in FY24 . Stifel expects these headwinds to turn around , but it is difficult to tell how long that may take .

Speaking of Polaris , we got our hands on a 2024 Turbo R RZR for a long-term demo unit . I picked it up from my local Polaris dealership a couple of weeks ago . Since we are doing a deeper dive into the UTV / Side-by-Side market next month , it just happens to help with some “ inspiration ” and content for our YouTube channel and social media platforms .

I have driven many UTVs over the years at press events , but I never had one of my own , so it is exciting . I can also see some of the downsides already . Like where do I ride it ? What kind of trailer do I need ? Will I ride it enough to make it worth it or should I get something that I can ride on both street and trails ? I guess it depends on your situation and where you live , but living in the city is not ideal for these side-by-sides , I can assure you that .

We will give our take on the machine , but I can tell you right now , there ’ s almost nowhere to ride this beast in Ohio that is wide-open enough to give it a true test . The Turbo R RZR is incredibly powerful and didn ’ t even break a sweat on our first off-road trip to a local ATV park . We splashed through puddles and deep ruts , through tree-lined hills and never once put it in 4WD . We got completely coated in mud and had a blast doing it . I plan to stretch its legs on the next outing .

As for the ice cream , I will pack some Lactaid for our next mud run !

CHEYENNE MOTORSPORTS @ cheyennemotorsports

Followers : 321 When dealers use the products they sell , it enhances their credibility as trustworthy salespeople . Encourage employees to share their personal experiences and enthusiasm for the products they love ! For example , Cheyenne

Motorsports recently posted , “ Off-grid BBQ adventures powered by the UBCO 2X2 . Transporting grilling gear with zero emissions and 100 % fun . Here ’ s to good eats and clean energy ! # GreenGrilling # BBQ # UBCO .” The post includes a photo of bacon cooking on a griddle powered by the battery , showcasing the product ’ s practicality and appeal .

DON ’ S SPEED PARTS @ donsspeedparts Followers : 863 Community involvement is a valuable effort that requires time , energy , and money . It ’ s important to acknowledge the employees who actively engage your dealership in its community ! Recently , Don ’ s Speed Parts celebrated a significant achievement and posted , “ You ’ re looking at the 1st place winner for the @ wainwrightstampede Parade ! A huge thank you to our amazing team member , Nichole , for her brilliant idea , and to the entire team for their hard work in bringing it to life !” Expressing gratitude not only appreciates individual efforts but also highlights the dealership ’ s commitment to its community .

COLUMBIA POWERSPORTS @ columbiapssc Followers : 2,660 Do you want customers to be familiar with who makes up your team ? Have your employees introduce themselves and invite customers into your dealership ’ s doors ! Dillon from Columbia Powersports did just this in a short video , giving customers a recognizable name and face when they visit the dealership . The caption read , “ Get ready for a deal of a lifetime . Columbia , TN ,” followed by numerous hashtags to promote the video and boost visibility .