Motorcycle Dealers Anticipate Big Sales Growth Over the Next Year
37% of respondents anticipate sales growth of 5-10%, and 23% said 10-15%.
Respondents who participated in the survey were comprised mostly of dealers and retailers (75%), with the remaining 25% were manufacturers, distributors and others.
The announcement comes off the heels of motorcycle manufacturers reporting sales increases in the 3rd Quarter of 2013, including Harley-Davidson selling 15.5% more bikes worldwide, and BMW Motorrad selling 23.4% more.
The most important trend in the motorsports industry today is the introduction of new products, according to 40% of respondents. Parts, garments and accessories (PG&A) were cited by 22%, and the growth of the pre-owned market by 16%.
“We saw plenty of new product innovation in just about every category at the recent American International Motorcycle Expo,” said Sameer Gaur, president of CDF’s motorsports group. “The mood of the industry was certainly upbeat.”
The inaugural American International Motorcycle Expo (commonly called AIMExpo), held in Orlando, FL, was the industry’s first combination trade and consumer event in North America.
“The industry is doing a great job of listening to customers and developing products to attract new riders,” said Sam Yourd, marketing manager of CDF’s motorsports group. “At the same time, we’re working to develop technology-based tools that allow people to spend more time in higher-value activities. We’re focused on streamlined account management and simplified processes.”
When asked about the industry’s greatest challenge, respondents cited the availability of retail financing (41%) and consumer spending (30%).
GE Capital, Commercial Distribution Finance provides nearly $31 billion in financing for more than 33,000 dealers and 2,000 distributors and manufacturers in the U.S. and Canada in 2012.