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receiving dollar rebates, compared to 46 models for the March promotional round.

Analysts highlight the introduction of rebates on additional 2025 RZR and Sportsman models. The average absolute dollar rebate has also increased across all products in the portfolio, both new and aged, excluding Xpedition models.

In April, General units received an average dollar rebate of $ 2,500, compared to $ 1,333 for March. 2025 Ranger units received an average rebate of $ 941 in April, compared to $ 765 in March, while 2025 RZR units went from $ 750 to $ 1,087, and 2025 Sportsman models went from $ 500 to $ 603.

Analysts note special financing rates for some MY25 units that have decreased sequentially, becoming more consumer-friendly. Specifically, rates of 0.99 % for select RZR units,

Northcoast Research recently released a report on the promo environment in Q1, specifically focusing on ORV activity in the channel.( Photo: BRP)

as well as a decrease from 3.99 % to 2.99 % for various Sportsman and General units.

Taking a look at the promotions on MY24 units from Polaris, there was an increase in absolute dollar rebates as well as a decrease in rates. Northcoast also notes the average dollar rebate for 2024 Ranger units increased from $ 1,390 to $ 1,750 MoM, while 2024 General units increased from $ 2,625 to $ 3,625, rebates on 2024 RZR’ s increased from $ 2,065 to $ 2,806, and average dollar

rebates on 2024 Sportsman units increased from $ 981 to $ 1,308.

In addition to the step-up in dollar rebates, Northcoast analysts note Polaris also slashed its special financing rates for 2024 models as well. Across the entire 2024 portfolio special financing terms improved to 0.00 % for 60 months in April, compared to just 2.99 % for 36 months in March.

BRP / CAN-AM Looking into the promotional environment from BRP, we see promotions have stepped up specifically related to special rate financing promotions. They note there were no sequential increases in the dollar rebates offered on BRP SxS or ATV products but rather saw an increase in financing-related promotions.

For 2025 models, the utility model Defender and recreation model Maverick X3 saw special financing rates of 0.99 % for 36 months compared to their previous promotion rate of 2.99 % for 36 months. Switching to 2024 models

, all models saw a decrease to 0 % APR for 60 months compared to the previously advertised 1.99 % for 36 months, while dollar rebates remain unchanged. Northcoast believes BRP is increasing promotional spending, primarily on aged units, ahead of the model year changeover to help stimulate demand in the prime selling season to right-size dealer inventory.

“ As part of our ORV channel work, we analyze dealer inventory levels along with agemix, which we believe, on aggregate, is moving in the right direction. In analyzing the broader industry, we estimate 68 % of new inventory is MY25, with Polaris and BRP both pacing ahead of the industry at 77 % and 72 %, respectively,” Northcoast analysts report.

Rightsizing inventories to match the current level of demand has been a major focal point of both companies over the last year, according to the research firm, and Polaris and BRP have both made progress on that end, with inventories down 20 % and 21 % YoY respectively, compared to industry declines of 14 %.

MARCH 2025 VS. MARCH 2024 Dealers reported declines in nearly every department in March according to composite data from more than 1,800 U. S. dealers that use the Lightspeed DMS. The Northwest was down 12.4 % in parts sales, followed by the West, down 8.5 %, and the South, which dropped 5.6 %. The Midwest was only down 1.1 % for the month, while the Northeast was up 0.7 % in parts sales. Service revenue dipped in the west by 5.4 %, followed by the Midwest and South, which dropped 4.3 % and 2.1 % respectively. Both the Northeast, 4.2 %, and the Northwest, 1.8 %, saw gains in service-related

sales. The sales department was down an average of 4.6 % in March. The West was down 8.6 %, followed by the Northwest, down 6.2 %, the South, down 5.2 %. and the Midwest, which dropped 4.1 %. The Northeast was the only area in the black, up just 0.9 % in major unit sales. Combined revenue in March dropped an average of 4.4 %, The Northeast was the only area that had an increase in combined revenue for March, up 1.2 %. The West reported the most signifi cant revenue drop, 8.2 %, then the Northwest, a 6 % decline, followed by the South and the Midwest, which dropped 4.9 % and 3.9 % respectively.

PARTS SALES Parts sales revenue was up at 773 dealerships and down at 1,080.

SERVICE SALES Service revenue was up at 874 dealerships and down at 970.

MAJOR UNIT SALES A total of 693 dealerships were up in major unit sales and 819 were down.

FOR MORE ON THE SAME STORE SALES DATA

For more information on this report and other industry data, contact: lightspeeddms. com