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Powersports Business • October 2023 • 17

BY JEFFERY BOAZ CONTRIBUTING WRITER

It ’ s helpful to know the trending demographics of your typical autocycle buyer while stocking your dealership ’ s inventory and creating a marketing strategy that appeals to your most common customer . Keeping this in mind , Cycle Trader and Statistical Surveys Inc . JEFFERY BOAZ ( SSI ) recently teamed up to examine autocycle registration and demographic data , analyzing the age , gender , ethnicity , and income of buyers . Using this information , your dealership can better grasp current autocycle demand and offer an ideal product mix to your target audience .

Through early July of 2023 , the primary age ranges of autocycle buyers have been 35−44 years old ( 23.2 %), 45−54 ( 27 %), and 55−64 ( 23.4 %), continuing trends we ’ ve seen over the past few years . White buyers have dominated the autocycle market , though their prevalence has slightly decreased from 2020 ( 61.5 %) to 2023 ( 57.1 %). On that same note , there was a slight increase in Black buyers from 2020 ( 21.6 %) to 2023 ( 25.4 %). This ongoing shift is worth noting as you devise your marketing strategy for the coming months and years ahead .

As for gender , male buyers have been leading autocycle registrations , with a consistent 75 % market share , since 2020 . Lastly , autocycle buyer income trends were analyzed . So far in 2023 , a plurality of autocycle buyers ( 32.7 %) had an income between $ 50,000 and $ 99,999 . Other income ranges included $ 0 to $ 49,999 ( 25.5 %), $ 100,000 to $ 149,999 ( 21.2 %), and $ 150,000 + ( 20.5 %). Ultimately , most demographic items have remained consistent YOY , with only slight variations .

Looking at total autocycle registrations from Acrimoto , Campagna Motors , Morgan 3−Wheeler , Polaris , and Vanderhall Motorworks , there are some clear trends to note . Compared to the pre-pandemic years of 2018 ( 5.3K ) and 2019 ( 4.7K ), there was an obvious market bump during the midst of the pandemic in 2020 ( 6.2K ) and 2021 ( 8.6K ). Registration numbers leveled off in 2022 ( 6.7K ), but remained higher than pre-pandemic years . Through early July of 2023 , there have been 2.1K autocycle registrations . If the second half of the year can match the first six months , and double registrations so far , the industry would end the year with 4.2K autocycle registrations . That would be a notable drop compared to the past three years , with a year-end total closer to what we saw in 2019 .

Moving forward , it ’ s important to understand your dealership ’ s typical autocycle buyer persona and implement your marketing efforts strategically . However , it ’ s also important to pay attention to untapped markets that are on the rise . There ’ s a wealth of opportunity to expand your reach and generate more revenue within promising demographics that still show statistical significance . Keep this in mind as you stock your inventory and formulate your marketing strategy for the remainder of the year .

Jeffery Boaz is the Director of Strategic Initiatives at Cycle Trader , owned by Trader Interactive . He has been with Cycle Trader since 2022 and brings over 20 years of experience and passion within the powersports industry . An avid rider himself , Jeffery is proud to deliver solutions and expertise to the industry using Cycle Trader ’ s suite of products .

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