Industry Overview
Powersports Market Update
The powersports market had a slow start in 2018 but then saw strong growth that continued in spring, summer, and unexpectedly throughout the fall season. While these market trends are typical for the beginning of the year, we did not expect to see high sales volumes after summer. This continued growth during the fall and early winter seasons can be attributed to mild weather conditions that allowed for a longer riding season in regions that typically see snow. It was also attributed to manufacturers releasing new products for the on-road market with lower price points to entice new riders.
Both sport and utility side by side segments saw stronger values and web traffic out of the gate in 2018, with utility side by side values up 4% and sport side by sides values up 3% from 2017. This increase is due in part to the flexibility and popularity of UTVs. The wide range of available accessories make it easy to stay warm during winter trail riding, extending the riding season. Unlike the side by side markets, the cruiser and sportbike segments showed very similar pricing as the previous year, but finished with a strong Q4.
Early results in 2019 are providing us with a positive outlook for the upcoming year.
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