26 • June 2024 • Powersports Business

BY TRISTIN BURDICK CONTRIBUTING WRITER

The powersports industry is at a pivotal crossroads . We recently conducted a comprehensive survey to gauge the sentiments of motorcycle riders regarding the industry ' s future . This survey , encompassing a wide range of riders , sheds light on their thoughts and perceptions about current and emerging trends within powersports .

A standout insight from this survey is the evolving attitude towards electric and hybrid powersport vehicles . This trend signals a significant shift in the industry , reflecting broader global movements towards sustainability and advanced technology . With 67 % of riders viewing the impact of global trends like eco-friendliness and digital innovation , it ' s clear that the industry is on the cusp of transformative change .

INSIGHTS FROM RIDERS While there ' s an underlying excitement about the potential of electric powersport vehicles , riders are also considering what these changes mean for the essence of their passion . This isn ' t just about swapping a gasoline engine for a battery ; it ' s about how it alters the experience of riding through rugged terrains , open fields , or along winding roads .

Key concerns voiced by riders include practical aspects like the range limitations of electric vehicles , the availability and speed of charging facilities , especially in less accessible areas , and the overall reliability of these vehicles in more demanding environments . These are not minor considerations ; they speak directly to the heart of what makes powersports appealing : the freedom to explore without bounds .

However , it ' s not all about the challenges . Riders also express a curiosity about the new dimensions that electric and hybrid vehicles might bring to their experience . There ' s an acknowledgement that these technologies could open up new possibilities in terms of performance , environmental impact , and even the nature of the rides themselves .

PERCEIVED CHALLENGES OF ELECTRIC / HYBRID POWERSPORTS VEHICLES

Lack of charging infrastructure

Concerns about battery life and replacement costs

Lack of experience with the technology

Limited range 81 %

Long charging times

Higher initial purchase cost

Limited model options

Lower performance levels

Other 9 %

18 %

20 %

34 %

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

PERCEIVED BENEFITS OF ELECTRIC / HYBRID POWERSPORTS VEHICLES

Instant torque and acceleration 63 %

Quieter operation

Reduced emissions

Environmental friendliness

Lower operating and maintenance costs

Potential for tax incentives or rebates

Innovative design and technology

Potential for longer-term cost savings

Other 7 %

19 %

27 %

34 %

0 % 10 % 20 % 30 % 40 % 50 % 60 % 70 %

40 %

48 %

52 %

68 %

57 %

77 %

76 %

76 %

Source : EPG Specialty Information

With electric and hybrid powersports vehicles , riders are typically concerned about the battery range . But with e-bikes and off-road applications , riders are more concerned with performance .

ADVANTAGES OF ELECTRIC / HYBRID VEHICLES

A standout advantage is the instant torque and acceleration that electric motors provide . This characteristic is particularly appealing to riders who are accustomed to the immediate response and power of traditional engines but are curious about the different kind of performance electric vehicles promise . The potential for a new style of riding experience , where power delivery is both immediate and smooth , is an exciting prospect .

The quieter operation of electric and hybrid vehicles is another significant benefit . While the iconic sound of a gasoline engine has its appeal , the prospect of a less noisy ride is becoming increasingly attractive , especially for those who enjoy riding in natural settings .

Furthermore , the environmental benefits of reduced emissions are not lost on the riders . As global awareness of environmental issues grows , the powersports community is also reflecting on its role in this larger conversation . The shift towards electric and hybrid vehicles is seen not just as a technological advancement but also as a step towards more sustainable and responsible riding practices .

In embracing these advantages , riders are not looking to replace the essence of traditional powersports but to augment it with new , innovative experiences .

THE DECADE AHEAD The transition to electric and hybrid vehicles in the powersports industry is not just about adopting new technologies ; it ' s also about meeting and exceeding the performance standards set by traditional internal combustion engines . Riders have specific expectations in this regard , reflecting a blend of hope for the future and a deep understanding of current capabilities .

A notable insight from our survey is that a considerable number of riders anticipate that electric and hybrid powersports vehicles will surpass traditional engines in many areas . This expectation is anchored in the perceived potential of electric technology , especially when it comes to delivering efficient and robust acceleration . Riders are looking forward to seeing how these advancements translate into real-world riding experiences .

Colin Godby , CEO of Dust Moto , discussed the company ’ s unique approach to electric motorcycle design and technology in a recent Power Hour podcast .

Godby explains their approach to building the company : “ There ’ s a hangover from 2021 to early 2022 when everything was gangbusters – but now that has changed . We acknowledged raising some outside capital to start a capital-intensive business like a motorcycle company would be tough . And it also wasn ’ t possible for us to completely bankroll this personally because of the magnitude . And so we said , how can we create a model where we can get rolling , show meaningful traction , and prove to potential investors and our customers that we ’ re a legit team , that we ’ re headed in the right direction , without the extreme risks that people are perceiving right now . That ’ s where crowdfunding fits in .

“ We ’ ve always been interested in the idea because it aligns with incentives ; you bring customers on board who want this product and are willing to bet on you . And we must deliver to show that we ’ re who we claim to be . To that end , we opened up 50 slots at the beginning of August last year called Founders 50 . We ended up filling that in 24 hours . The program was unique in that it ’ s a monthly subscription .

“ With powersports being a mostly financed product , we knew that asking people to pay 100 % upfront for an expensive product like a motorcycle and then waiting for it would have been tough . We said , what if it was like financing it , it ’ s a monthly subscription . And at the same time , we can have monthly meetings where we bring people into the development behind the scenes , we have face-to-face meetings over video calls to show what we ’ re working on .”