12 • October 2024 • Powersports Business

FROM THE EDITOR INSTA TIPS

As the Fed reverses course on interest rates , what real-world impact will it have on Main Street customers ? We know it ’ ll be a boon for Wall Street , but the average American will likely feel very little difference in their wallet after a half-a-percent cut

BRENDAN BAKER announced in September takes effect .

The big question is , how long before the lower interest rates bring in more buyers ? Already , the OEMs have rolled out more discounts to entice buyers , but is that enough ? According to NPA ’ s latest Market Report , August through October is typically the most difficult 90 days on the calendar for powersports retail sales . “ With the selling season in the rearview mirror , dealer priority moves from inventory acquisition to product liquidation and pushing existing inventory out the door as quickly as possible .”

BMO Capital reports that promotions remain roughly in line with last year , but with ORV being the most aggressive , as financing rate buy-downs remain aggressive to combat affordability concerns and elevated inventory levels . However , offers , on average , remained in line with 2019 levels . Polaris increased and introduced certain MY25 SxS offers and introduced a MY25 ATV financing offer . BRP introduced its MY25 lineup and increased its MY24 SxS rebates and a MY24 Sea-Doo rebate . Kawasaki introduced a MY25 ATV rebate , while Suzuki introduced a MY24 ATV rebate . Yamaha introduced certain MY24 snowmobile offers . Harley-Davidson increased its rebate offer on MY23 units and continues to have financing offers on MY24 units .

While discounts will help clear out inventory and may incentivize buyers to get into a MY25 unit , NPA argues that pre-owned is where the biggest margins are made , and dealers who “ churn ” their inventory will benefit the most .

In talking with dealers in the past few months , the problem is more consumer confidence in the economy , holding potential customers back from pulling the trigger on a new unit . One Harley dealer we spoke with says he hasn ’ t seen it this bad since the 2008 economic recession . He says the inventory levels are still too high , and the brand is not listening to its dealers . Of course , Harley has been facing some heat lately with how it has alienated some of its core customers . He says CEO Jochen Zeitz ’ s comments and his leadership have not helped at the dealer level .

We finally got a suitable trailer for the very wide RZR Turbo R . It ’ s 72-inches wide , so a normal utility trailer won ’ t work . We took it to Mines and Meadows in Western Pennsylvania for a little mud bogging . Sales Rep Roberto was my sidekick and photographer for the day . He didn ’ t care for the mud either .

He says Harley shouldn ’ t alienate any customers at this point and that the CEO has turned dealerships into political battlegrounds in some cases .

With the Fed reversing on interest rate hikes and Harley reversing its stance on DEI , maybe the opposite will be true of powersports sales to end the year on a high ? I ’ m not getting my hopes up until we see what happens with the election .

In the meantime , my U-Haul follies continue as I try to find a trailer to rent for my RZR Turbo R loaner from Polaris . I ’ ve had mixed success renting trailers on U-Haul ’ s website / app . It is mostly my fault for not being intuitive enough to understand their system . The first time I tried to reserve a trailer online , I went to my local dealer , where I thought I had reserved it , and I was told I had reserved one in Indiana instead . That ’ s one state away from me ! Fortunately , they had the trailer I needed on the lot , and I was on my way . This last time , I thought I had reserved one at the same location , but I found out they had no record of it . I think Jerry Seinfeld explained it best when he said the purpose of the reservation is the hold . But I screwed that one up , also . I hit the “ confirm reservation ” button but was a couple of steps short of actually holding the reservation . Live and learn .

We finally got the trailer and towed the RZR to Mines and Meadows in Western Pennsylvania . What a great ATV park ! It ’ s 870−acres with multiple trails that split off the main loop . We finally got to let the RZR Turbo R rip , but then I took a wrong turn and ended up stuck in a mudhole , unable to engage 4WD . After trying multiple times to gun it and go forward ( and each time with a fresh coat of mud in the cab ), I backed out and got 4WD to engage a little too late . I will miss the RZR , but I won ’ t miss the clean-up or the U-Hauls .

Is your dealership capitalizing on the top-of-mind marketing ease that Instagram offers ? Did you come up with an ideal way to showcase your customers in an effort to help spread the word about your shop and its employees ? If so , let us know . Powersports Business will highlight Instagram posts from a variety of dealerships in upcoming editions of the magazine .

Dealerships featured all follow the Powersports Business Instagram at @ powersportsbusiness . All posts featured will be photo or video in nature , with content from Instagram Stories not considered for this piece .

Got an Instagram tip that works at your dealership or one with which you do business ? Feel like raising the collective industry tide ? Let us know at mhubbard @ epgacceleration . com .

ST . PAUL HARLEY-DAVIDSON @ stpaulhd

Followers : 10.3k When your dealership invests in the local community and supports events that bring people together , it creates lasting connections . Highlighting your dealership ’ s involvement on social media is crucial , as it amplifies the positive impact your efforts make . Whether customers see your posts immediately or months later , showcasing your community engagement builds trust and loyalty . St . Paul Harley-Davidson supported its local fair and posted , “ The 2024 @ mnstatefair was a success ! Thanks to everyone who came out to visit us , we loved seeing familiar faces and meeting new ones ! See you next year !” This kind of visibility shows your dealership is not just about sales , but also about being an active and valued member of the community .

GULF COAST MOTORCYCLES @ gcmotorcycles Followers : 803 When your business is actively giving back to the community , it shows that your focus isn ’ t just on profits , but also on contributing to the greater good . Sharing charitable efforts also humanizes your brand and shows that your business is more than just a transactional entity , it ’ s part of the community . This can foster loyalty among customers who value supporting businesses that care about the same causes they do . Gulf Coast Motorcycles recently shared , “ Through your generosity , we have been able to provide Animal Refuge Center $ 1,120 and over $ 600 in supplies from our dedicated Amazon shopping list . THANK YOU for helping make this possible via our Pups and Pancakes Fundraiser !”

COOL SPRINGS POWERSPORTS @ coolspringspowersports Followers : 653 Pay attention to the details in the pictures and videos you post — people notice logos and images in the background , whether consciously or not . When sharing customer appreciation posts , make sure your dealership ’ s name or logo is visible to reinforce brand recognition and create a subtle but powerful association between the product and your dealership . Cool Springs Powersports shared a photo of a motorcycle in front of a sign with the dealership ’ s name . The post read , “ Another one . Congratulations to the new owner of this immensely popular 2024 Kawasaki Ninja 500 SE ABS ... Thank you for choosing Cool Springs Powersports !”