Harley-Davidson Financial Services’ credit losses inched up while originations increased during the first quarter in tandem with a rise in sales.  Retail loan originations increased 2% year over year during the first quarter, Chief Financial Officer Jonathan Root said during the retailer’s earnings call today. The company did not break out origination volume for Q1.    ..read more

Powersports manufacturer Polaris reduced shipments and supply to meet dealer demand as sales fell 20% year over year during the first quarter.  Total quarterly sales landed at an estimated $1.7 billion, in line with the manufacturer’s 2024 predictions, according to Polaris’ earnings presentation published today.  Increased promotions, lower sales volume and decreased shipments of certain ..read more

Retail RV sales slowed in February as shipments from OEMs ratcheted up, forcing some dealers to mark down prices on old model-year units to make way for 2025 lines.  North American RV retail registrations fell 9% year over year in February, according to a note from financier and research services provider BMO Capital Markets referencing ..read more

Powersports manufacturer and distributor Massimo Group plans to expand distribution, launch new products and lean further into electrification following the closing of its initial public offering.   Massimo plans to use the proceeds from its IPO to develop new products, expand assembly and distribution operations and recruit additional personnel, Yunhao Chen, chief financial officer, told Auto ..read more

Synchrony Financial is providing promotional financing for Canadian powersports manufacturer Bombardier Recreational Products.   The lender on Monday added BRP to its list of brands for which it provides special financing offers, including Kawasaki, Polaris and Suzuki, according to Synchrony.  Stamford, Conn.-based Synchrony has financed BRP products for years but now offers promotional financing for the ..read more

Synchrony Financial is supporting dealers as more manufacturers lean on promotional financing and rebates to drive sales.   Powersports manufacturers are starting to offer more incentives such as money off the MSRP, promotional financing and rebates as rates are higher than they were two years ago, Susan Medrano, senior vice president and general manager of Synchrony’s ..read more

Debt burdens, elevated interest rates and dampened consumer demand have contributed to an overall slowdown of the powersports market so far this year.   New-unit powersports sales are expected to tick down in the “mid-to-high single digits” this year amid softer consumer demand, Tony Altieri, vice president of business development at National Powersport Auctions (NPA), told ..read more

Slower snowmobile and personal watercraft sales contributed to a 10% year-over-year decline in Canadian powersports manufacturer Bombardier Recreational Products’ total North American retail sales.   “Our fourth quarter played out in a difficult context marked by an unfavorable winter, which impacted our snow-related products [as well as] softening consumer demand in international markets,” Sebastien Martel, chief ..read more

Total U.S. boat registrations fell 12% year over year in February as elevated interest rates challenged buyers and demand continued to normalize from pandemic-spurred highs.  Registrations across the powerboat segments, including personal watercraft, sailboats and houseboats, declined 7% YoY in February, according to Statistical Surveys data based on reporting from 32 states, or about 58 ..read more

Snowmobile retail sales and origination volumes were down during the winter selling season this year as snowfall across the United States was light.  “The snow segment is highly seasonal and weather dependent, and this year has been very tough in terms of the actual snowfall,” Jon Vestal, senior vice president and head of growth at ..read more