16 • October 2024 • Powersports Business

Expanding inventories , decaying consumer confidence promote uncertainty

Super Sport UTVs such as this race ready RZR represent a fraction of the total number of units sold in the segment . Staff photos .

The North American side-by-side ( SxS ), aka UTV , market in 2023 recovered in volume by + 3.5 % to 568,944 units following two straight years of downturn , according to research performed by Minneapolis-based research firm Power Products Marketing ( PPM ), which keeps an eye on the market , producing an annual database and associated report that define trends .

Initially a vehicle delegated to commercial uses – industrial , construction , turf maintenance , etc . – UTVs found favor with consumer users as it was realized manufacturers were bringing vehicles to market that could offer off-road adventure in relative comfort with golf car-like operational ease . Offerings like the Kawasaki Mule were certainly capable for light trail duty , but their designs proved overtly industrial when compared with the first major sport-oriented models to make an impact on consumer purchase decisions - the Yamaha Rhino and later the Polaris RZR .

Based on PPM analysis , Polaris Industries continued to lead the market last year , followed distantly by Can-Am , Kawasaki , Deere , and CFMoto . The remaining top ten purveyors of UTVs included Honda , Kubota , Hisun , Yamaha and EZGO / Cushman .

Of the 10 best-selling UTVs in 2023 , five were Polaris models that together accounted for 10.4 % of the total market volume . Those five Polaris machines were joined in the top 10 by the best-selling Deere XUV 835 series , the Can-Am Defender MAX Limited , Hisun Axis 500 , Kubota RTV-X1100 and CFMoto UForce 1000 . All 10 vehicles together accounted for about 20 % of the total market volume .

PRODUCT CATEGORIES PPM splits UTVs into six distinct product categories , including Electric Utility Vehicles ( EUV ), Pure Utility Vehicles ( PUV ), Recreational Utility Vehicles ( RUV ), Sport Recreational Vehicles ( SRV ), Super Sport Vehicles ( SSV ) and Utility Crossover Vehicles ( UCV ). EUVs are speed-governed at 25 mph and under , offer a large cargo area , two- and four-passenger seating , can be either 2WD

or 4WD , and are very popular at golf courses , estates and gated communities , with hunters and in industrial plants and warehouses .

PUVs are speed-governed at 35 mph and under , offer a large cargo area , often lack independent rear suspension , feature 2WD or 4WD , feature bench or bucket seats for twoor four-passenger options , carb as well as FI and EFI , and include all diesels .

RUVs feature speeds of 42 to 55 mph , have a sportier styling and a smaller cargo area than UCVs , feature independent rear suspension , FI and EFI , two- and four-passenger options , bucket seats , and 4WD .

SRVs feature speeds of 52 to 70 mph , sporty styling yet more cargo area than an SSV , typically with large displacement engines 800cc and over , independent rear suspension , EFI , two- and four-passenger options , bucket seats , and 4WD .

SSVs exceed 70 mph , offer performance styling with a limited cargo area , and typically feature large displacement engines 800cc

Polaris and other brands have found a strong niche in the premium utility segment , or utility crossover segment .

Kawasaki was one of the first to market a UTV with the Mule , but today ’ s Mules cater to a hardcore working rancher or farming market with premium features . and over , independent rear suspension , EFI , two- and four-passenger seating , bucket seats , superior handling and suspension , and 4WD .

According to PPM research , UCVs are responsible for 48 % of the North American UTV market , PUVs account for 16 %, SSVs hold 14.5 % of the market , and RUVs maintain a 11.5 % share . SRVs slide in with 5.5 % of the market while EUVs hold a 4.5 % share .

CONSUMER VS . COMMERCIAL PPM also splits its findings between Consumer applications , Commercial applications and - to a much smaller extent - Government applications .

Whereas in 2000 the ratio between Consumer and Commercial applications was approximately 40 / 60 respectively , there has been a significant shift to Consumer models accounting for the majority of units moved . Of the nearly 569,000 UTVs retailed in North America in 2023 , PPM found Consumer applications likely accounted for 87.5 % of sales while Commercial applications looked to be responsible for 11.5 % of the total and Government applications accounted for less than 1 %.