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Powersports Business • December 2023 • 11

This means that you will have a wide range of different economic backgrounds in your primary audience . To effectively engage this audience , make sure to follow advertising best practices and include unit pricing on your listings . By doing so , you are giving buyers a clear idea of what units are within their budget , which can attract more serious leads for your dealership .

Source : Cycle Trader

In 2023 , the leading buying group earns an income range of $ 50,000− $ 74,000 , and buyers making $ 75,000− $ 99,999 are the second largest group of registrations , which has been the case since 2019 . This means that you will have a wide range of different economic backgrounds in your primary audience . To effectively engage this audience , make sure to follow advertising best practices and include unit pricing on your listings . By doing so , you are giving buyers a clear idea of what units are within their budget , which can attract more serious leads for your dealership .

In Los Angeles , Cruisers , Dual Sports , Sport , Standard , and Touring motorcycles are the most popular and currently hold the highest BTAs ( basic trading areas ) in the nation . Our data also reveals that UTVs , Sport , Quads , Touring , and Scooters all experienced the highest rate of registration in 2023 , with the number of registered vehicles in each category being significantly higher than in 2022 .

If you want to be successful and remain ahead of your competitors in this market , it is essential to take advantage of the current high demand for these units by incorporating them into your inventory mix and advertising them through various online channels . Doing so will ensure that you have the necessary resources to meet the demands of your customers and maximize your profits .

By leveraging the insights from Cycle Trader and Statistical Surveys , you can ensure that you are proactively positioning your dealership for success in the competitive industry . Evaluating your target audience and planning your strategy accordingly is essential for the 2024 selling season . So , make sure you utilize all available data to put yourself in the best position to succeed .

Ryan Kloppe is the Director of Sales at Statistical Surveys , owned by Trader Interactive , parent company of Cycle Trader . He has been with Statistical Surveys since 2012 and has 20 years of sales and data experience in the marine , powersports , banking and medical industries . While at Statistical Surveys , Ryan has consistently increased sales year over year while developing and maintaining successful business relationships . Ryan ’ s work can be seen in multiple trade publications that are released on a monthly and quarterly basis .

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