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Powersports Business • June 2024 • 9

Segway Powersports and Octane announced a new partnership to provide promotional financing for customers in the U . S . Prime and non-prime consumers are eligible for financing on Segway ’ s entire range of utility vehicles and sport side-by-sides , courtesy of Octane ’ s in-house lender , Roadrunner Financial .

Authorized Segway Powersports Dealers can now leverage Octane ’ s streamlined digital financing process , along with attractive terms and flexible rates , to enhance the consumer purchasing experience . Segway offered 0 % APR for 60 months on MY23 inventory and 0 % APR for 48 months on select MY24 inventory through the end of April .

“ Octane has proven to be an excellent fit for Segway Powersports and our customers ,” says Jason Walling , VP of Sales and Marketing for Segway . “ By offering a full spectrum of lending solutions , Segway Powersports dealers now have multiple options for financing Segway Powersports products and accessories . We firmly believe that the combined strengths of Segway ’ s industryleading products and Octane ’ s expertise in consumer retail financing will further stimulate retail sales and increase market share .”

Gabriel Cruz , marketing director of Segway , shares that the company is rapidly growing and needs the right partners to support its growth . “ By partnering attractive low-rate financing options with industry-leading products , we are creating a tool for our dealers to attract new customers and expand their customer base ,” he says . “ This strategic approach not only helps dealers move inventory but makes the Segway products more accessible and appealing , driving demand in a challenging economy .”

“ We ’ re excited to partner with Segway to provide fast , easy and accessible financing options that help their customers to experience the outdoors ,” says Jon Vestal , senior VP and head of Growth at Octane . “ By combining broad credit coverage with a seamless , digital experience , we ’ re able to connect people with their passions through one of the fastest growing players in the industry .”

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as the prior period included anniversary product apparel .

First quarter gross margin was down 4.5 points due to the impacts of pricing and sales incentives , lower volume and higher manufacturing costs . First quarter operating income margin was down 5.4 points due to the factors above , where operating expenses were roughly flat in the quarter .

RETAIL MOTORCYCLE SALES Global retail motorcycle sales in the first quarter were flat versus prior year . North America retail performance was up six percent , driven by sales of the new touring motorcycles , which were introduced at the end of January . International markets did not receive new 2024 Street Glide and Road Glide motorcycles in dealerships until the end of the first quarter . The decline in EMEA of 11 percent was driven by weakness in Germany and France . The decline in APAC of 12 percent was due to weakness in particular in China . Latin America experienced modest growth in both Mexico and Brazil .

HDFS ’ operating income declined by $ 5 million in the first quarter or eight percent . This was due to higher interest expense and a higher provision for credit losses which was driven by several factors , similar to last year , relating to the current macro-economic environment . Total quarter ending financing receivables were $ 7.9 billion , which was up four percent , primarily due to an increase in commercial finance receivables .

LiveWire revenue for the first quarter decreased by 39 percent . The revenue decline was due to a decrease in STACYC electric balance bike volumes and electric motorcycle product mix . Electric motorcycle unit sales increased , driven by new product launches , including the launch of the new S2 Mulholland model in the first quarter 2024 .

2024 FINANCIAL OUTLOOK For the full year 2024 , the Motor Company reaffirms the following guidance and continues to expect :

HDMC : revenue flat to down nine percent and operating income margin of 12.6 to 13.6 percent

HDFS : operating income flat to up five percent

LiveWire : electric motorcycle unit sales of 1,000 to 1,500

Harley-Davidson , Inc : capital investments of $ 225 to $ 250 million

For the full year 2024 , the company is revising its LiveWire operating loss guidance and now expects an improved operating loss of $ 105 to $ 115 million , from previous guidance of an operating loss of $ 115 to $ 125 million .

The ZiiDMS support team has dealership experience . They understand the daily intricacies of running a successful dealership and what you are trying to accomplish . It ’ s 5-star support .

William Howard General Manager | Sport Durst Powersports Durham , North Carolina

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