Powersports Business June 2024 | Page 17

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Segway experiences record growth in Q1 amidst a flat market

Segway Powersports continues its upward growth trend . Recent news from the company has revealed that it experienced . experienced record sales in Q1 of 2024 despite a seemingly flat start to the year for the powersports market .
The company says it is also adding new dealer partners at an accelerated rate , solidifying it as one of the fastest-growing companies in the powersports Industry . Q1 results include a 309 % YOY wholesale increase and a 343 % YOY retail increase .
These results also confirm the company ’ s strategy to deliver off-road vehicles enthusiasts want . In a relatively short time , Segway has built stylish and unique vehicles with modern technology and features , like the 330−horsepower Super Villain SX20 Hybrid .
As Segway continues its quest to become a leader in off-road powersports , the company says to look for more models to enter the lineup later this year .
“ We couldn ’ t be happier with our first quarter results ,” shares Jason Walling , vice president of sales and marketing for Segway Powersports . “ We ’ ve worked long and hard to assemble the team of talented and passionate individuals we currently have . We will continue to grow the Segway Powersports brand in the U . S . market by forging strong ties with our dealer partners and providing best-in-class customer service . We ’ re ready to see what the rest of the year brings .”
“ It ’ s incredibly rewarding to see Segway Powersports continue to grow and flourish in the U . S . market ,” says Gabriel Cruz , marketing director for Segway . “ We ’ ve worked to bring excitement and energy to the powersports market that embodies the Segway brand and company ethos . We ’ ve generated great excitement for the brand over the last 16−plus months by attending events like AIMExpo , SEMA Show and Sand Sports Super Show .”
Spending time with in the field has helped increase brand acceptance , notes Cruz .
“ Echoing what Jason and Gabriel already eluded to , the brand is on the gas right now ,” says Kelly Rees , recently appointed national sales manager for Segway . “ We continue to listen to our dealer partners and retail customers by bringing powersports models to market that dealers can get behind and end users want . Our team is firing on all cylinders right now . The industry can expect to see even more of the Segway name nationwide in 2024 .”

Set to accompany the Magnum XF 500 mid-size UTV , the Magnum XF 1000 LE is a full-size workhorse that hits the market as an early 2025 release . Photo courtesy of ARGO ARGO reveals Magnum XF 1000 LE UTV

ARGO , a manufacturer of ATVs , UTVs , Unmanned Ground Vehicles ( UGVs ) and amphibious Xtreme Terrain Vehicles ( XTVs ), announced recently the continued expansion of its side-by-side lineup with the release of the Magnum XF 1000 LE .
Brad Darling , president and CEO of ARGO , spoke on the features of the newly unveiled side-by-side . “ The ARGO Magnum XF 1000 LE stands out as the top of its class thanks to a number of its best-in-class features .” he says . “ This full-size , threepassenger side-by-side offers class-leading cab space , including spacious legroom , an adjustable driver ’ s seat , plenty of storage space and many more features . In addition to superior comfort , this all-new 83 hp sideby-side possesses the most cargo space in its
category and offers a selectable five-mode front and rear differential , including Turf Mode , making the Magnum XF 1000 LE a perfect machine for work and play .”
The Magnum XF 1000 LE offers customizable Tri-Mode Electric Power Steering ( EPS ), conveniently set from the digital display . Pair this advanced EPS system with the vehicle ’ s speed keys for a personalized rider experience tailored towards safety and driver confidence . A heavy-duty front bumper with a 4,500 pound winch and a poly sport roof are just a few of the standard features included for a competitive price point . Set to accompany the Magnum XF 500 mid-size utility SSV , this full-size work horse hits the market as an early 2025 release from ARGO .