Powersports Pricing Rapidly Changing
TROY, Mich.–(BUSINESS WIRE)–In the 2020 Year-End Review Powersports Market Insights, analysts from J.D. Power Specialty Valuation Services note that used powersports prices began increasing in the second quarter of 2020 as the pandemic shifted consumer focus to more outdoor recreational activities. Similarly, dealers said they had record sales and very little inventory.
“In the motorcycle segment, cruiser and sportbike values increased steeply once warmer months arrived,” said Lenny Sims, vice president business development and strategy at J.D. Power Specialty Valuation Services. “Cruisers finished the year 2.2% ahead of last year, but that difference was much greater if we compare it to the 2nd half of each year. Side-by-sides really took off in the second quarter. Utility side-by-sides brought 8.7% more revenue year over year. Sport side-by-sides brought 6.5% more revenue year over year.”
Major findings in the free quarterly report note:
- Significant used price increase in Q2 through Q4 among powersports categories
- Surge in traffic views for the motorcycle segment in May 2020
- Surge in traffic views for the side-by-side segment in April through May 2020
J.D. Power Specialty Valuation Services (formerly NADAguides) is a leading provider of specialty vehicle valuation products and services to businesses. The team collects and analyzes tens of thousands of wholesale and retail transactions per month, and delivers a range of guidebooks, web service data, analysis and digital data solutions.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
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