Powersports Industry News

[NIKAL]

Figured I’d start a Powersports Industry News thread I I’m always watching what all the different manufacturers are doing.

When I find something interesting news wise I’ll post it here. If you find something feel free to post it on this thread too. Please let’s try to keep it on topic and reference or link where you read the news.

 

[NIKAL]

Segway hired a Sales Operations Manager to help support its dealers.

Segway Hires Jason Pecsok as Sales Operations Manager

Segway hires ex-motocrosser and 16-year powersports industry veteran Jason Pecsok as sales operations manager.

www.utvdriver.com

 

[NIKAL]

Polaris 2024, 3rd quarter reports.

Polaris reports sales drop in Q3 | Powersports Business

Polaris' Q3 sales were $1,722 million, down 23 percent compared to last year. Powersports retail sales were down just 7 percent vs. last year, driven by a decline in ORV sales.

powersportsbusiness.com

 

[UTV Life Forum]

Polaris 2024, 3rd quarter reports.

Polaris reports sales drop in Q3 | Powersports Business

Polaris' Q3 sales were $1,722 million, down 23 percent compared to last year. Powersports retail sales were down just 7 percent vs. last year, driven by a decline in ORV sales.

powersportsbusiness.com

The big rebates are going to start now that I have already bought mine

 

[NIKAL]

BRP/Can Am celebrates the building of 500,000 Can Am Defender models. (55.5K per year) The Defender was released in 2016 and is still Can Am’s top utility work vehicle.

https://news.brp.com/news-releases/news-release-details/can-am-celebrates-production-milestone-half-million-defender

 

[UTV Life Forum]

And Speed is having trouble getting to a few thousand a year.

 

[NIKAL]

And Speed is having trouble getting to a few thousand a year.

A few thousand for Speed be a huge improvement. A year later and they have yet to release a 1000 cars.

Speed UTV need has been very quiet lately.

 

[NIKAL]

Arctic Cat announced a week ago that they would be laying off some employees, and stopping all production after they complete building this model year’s snowmobile, and would restart in later 1st quarter 2025. And that they might not make any 2025 ATV’s or UTV’s.

Arctic Cat announces layoffs, production pause | Powersports Business

A letter from Textron’s Arctic Cat division to its dealers (now widely circulated to media members) has sent a shock wave through the snowmobile and powersports markets.

powersportsbusiness.com

 

[UTV Life Forum]

Do you think that’s just an Arctic Cat problem or do you think other Powersports OEM will have similar issues?

 

[NIKAL]

Do you think that’s just an Arctic Cat problem or do you think other Powersports OEM will have similar issues?

I think AC is struggling more as they are not as big as some of the others, and have less models to offer. But both Polaris & BRP have shown lower then projected on their quarterly returns for the past year & a half. Polaris did a large lay off earlier this year. So I don’t think it’s just AC, but I think they are more vulnerable and Textron does not seem interested to supporting the brand.

 

[NIKAL]

Not UTV News, but it is a Powersports business, and KTM does work with CFMoto who is in the UTV industry. For those who have not known, KTM & it’s parent company Pierer Mobility AG discloses that layoffs are coming and production is going to be moving.

As financial woes worsen, KTM takes drastic measures to cut losses

It was just a couple of years ago that Pierer Mobility-owned KTM celebrated 12 straight years of record growth. Now, the company is in a dire crisis that requires a halt in production and the sacking of more than 300 employees. How did it get here?

newatlas.com

“For a while now KTM has been announcing layoffs and job relocations to China. The managers at Mattighofen Austria have previously downplayed the situation, claiming that Europe's biggest motorcycle manufacturer could handle its current financial crisis on its own. However, that crisis has worsened.

It all started towards the end of last year when KTM AG decided to shift production of its “mid-range models” and certain R&D from Austria to China (CF Moto) and India (Bajaj Auto) – all of which resulted in job losses for some 300 employees in Austria. At that point, the board of directors cited discouraging economic conditions in Europe, slowing economic growth, increasing inflation, and higher interest rates as the reasons behind the moves.”

 

[NIKAL]

BRP lays off 120 workers in their Canadian Ski-doo plants.

But the bigger news if you read the whole article is BRP put the marine division of BRP up for sale back in October. This is big! Like the other Powersport brands BRP has been struggling the past few years after covid. But selling off a name like Ski-Doo is a big deal.

Ski-Doo maker BRP lays off more than 120 workers, managers at three Quebec facilities

Accounting for its decision, BRP said the current economic climate and lower consumer demand requires ‘sound management of expenses’

www.theglobeandmail.com

 

[UTV Life Forum]

Should a big power sports business go under, it is never good for consumers; we need them to keep each other in check. How could they be struggling? They made a fortune during COVID.

 

[NIKAL]

BRP releases Q3 results, which shows another 11% drop in overall sales from the previous Q2 results.

BRP reports Q3 results, sales drop in North America | Powersports Business

Revenues decreased 17.5% due to softer demand and continued focus on reducing network inventory levels. North American retail sales decreased by 11%.

powersportsbusiness.com

BRP goal is to reduce inventory by 15%-20% be the end of the year.

 

[NIKAL]

Wow! This just popped into my news feed.

12/18/24

Textron Seeks "Strategic Alternatives" For Arctic Cat Division UPDATED

In an SEC filing on December 18, Textron says it is looking for "strategic alternatives" to its Arctic Cat and powersports group.

snowgoer.com

Arctic Cat will suspend operations indefinitely. They are looking for Strategic Alternatives. Read the section about the filing to the SEC (Securities and Exchange Commission)

Sounds like if they don’t find a buyer Arctic Cat might be dead. Personally I’d like to see Polaris take it over. The two companies have a connected history, and Polaris could keep the Arctic Cat legacy going. Plus it could give Polaris management & designers the opportunity to build something that does not fit the Polaris styling cues.