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Powersports Business • July 2024 • 13

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buy USED units at levels where margins can be 2−3 times that of NEW .

3 . USED units tell a unique story . Dealers can explain why their vehicle ( lower miles , cleaner , previous owner was a little old lady who only road it to church Sunday ) is priced where it is .

4 . Dealers control the USED inventory on their floor . They can source products they know to sell in their markets and drive door swings . No stocking requirements and no minimum volumes .

PERCENT OF UNITS SOLD BY CATEGORY AND REGION

51 %

54 %

55 %

51 %

65 %

69 %

0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 % 80 % 90 % 100 %

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12 %

25 %

20 %

13 %

ON ROAD UTV OFF ROAD ATV

5 %

15 %

15 %

23 %

8 %

16 %

21 %

11 %

10 %

12 %

7 %

10 %

3 %

8 %

5 . Trade-ins are challenging right now . Many customers who purchased during Covid have negative equity ( upside down ) on their vehicles . Dealers ( despite NEW unit volume ) are finding it harder to source trade-ins and buy off the street , so the auction remains a great avenue to find the products they need .

Will this trend continue throughout the month and into the summer ? This may be a sign for dealers to look at what ’ s available at auctions rather than trying to source preowned units independently .

* The charts by Lightspeed are based on 185k used units sold between June 2023−May 2024 .

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cles . Since 2022 , Kawasaki , Yamaha , and Honda have maintained their positions as top picks among used units . However , BMW and Harley-Davidson have remained in the top five searched brands on the Cycle Trader marketplace for used units , with Harley-Davidson consistently capturing the top spot as the preferred choice for used units since 2022 .

CONSUMER MODEL PREFERENCES BASED ON SEARCH VOLUME

Top Powersports Models on Trader Interactive marketplaces by Search Results Impressions Jan- April 2024 New : 1 . Honda CRF 2 . Kawasaki KLX 3 . Yamaha YZF 4 . Honda Gold Wing 5 . Yamaha MT

Used : 1 . Harley-Davidson Street Glide 2 . Harley-Davidson Road Glide 3 . Harley-Davidson Electra Glide 4 . Harley-Davidson Softail 5 . Harley-Davidson Road King

In examining the trends for new model combinations , there ' s a notable shift towards new Honda and Yamaha units for 2024 , marking a significant departure from 2022 ' s preference for Kawasaki and

Polaris models , and a subsequent shift in 2023 towards Kawasaki and Honda . In the realm of pre-owned motorcycles , Harley-Davidson models have consistently dominated the marketplace , year after year . Notably , the Glide series from Harley-Davidson has surged in popularity , outpacing all other used make / model combinations in demand for the year 2024 so far .

This data illustrates how even though the popularity of certain models shifts from year to year , consumer loyalty consistently gravitates towards the top five brands . This highlights the critical need to regularly analyze data to pinpoint which models from these premier brands are on the rise , reflecting the subtle yet significant shifts in consumer preferences annually .

Staying attuned to search trends unveils promising opportunities for dealerships . With both new and used market segments experiencing significant growth , dealers can capitalize on the surge in monthly searches . Brands like Honda , Kawasaki , Yamaha , Polaris , and Can-Am are fueling interest in new vehicles , while Harley , Honda , Yamaha , Kawasaki , and BMW are commanding attention in the used vehicle market . By aligning inventory and marketing strategies with these brand preferences , dealerships can position themselves for success in meeting evolving consumer demands .

Nicole Schantz is the Vice President of OEM and Strategic Partnerships at Trader Interactive , parent company of Cycle Trader .

B R O K E R A G E S E R V I C E S

PROUD PARTNERS OF :

For a confidential consultation and complimentary estimate of value on your business , please contact us :

Harley-Davidson & Powersports Division George C . Chaconas , Senior Partner , CBI / M & AMI Office : 813 . 569 . 6250 | Cell : 813 . 245 . 2535 Email : george @ performancebrokerageservices . com Address : 2102 West Cleveland Street , Tampa , Florida 33606

NORTH AMERICA ’ S HIGHEST VOLUME DEALERSHIP BROKERAGE FIRM 949 . 461 . 1372 • PERFORMANCEBROKERAGESERVICES . COM