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$96.68
Average parts counter ticket for metric dealers
2008
RZR model year that was the most sought-out UTV on KBB.com
39%
BRP’s U.S. snowmobile market share
25%
Amount of V-twin dealers who rely on new units for more than half of their revenue
35%
Harley-Davidson’s U.S. motorcycle market share
266,061
New motorcycles sold in the U.S., January through June 2012
BY THE NUMBERS: NATIONAL DEALER SURVEY RESULTS DEALER BENCHMARKING DATA WHOLESALE MOTORCYCLE, ATV, UTV DATA UNIT SALES
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DEALERS
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UNIT SALES
DEALER DIRECTORY
CONTENTS
2012
MARKET DATA BOOK
& DEALER DIRECTORY
6 Editor’s column 8 14 16 18
20 26 28 29 31 32 34
DEALERS
Dealer survey Dealership revenue breakdown by size of dealership Dealership employee benefits by size of dealership Dealership workforce by size of dealership
INDUSTRY CLOSE UP
Popular wholesale vehicles and their values Average gross margin percentage on new units Average parts counter study Average repair order study Wholesale price averages by vehicle segment Dealer expense trends Used v. new sales, by segment
36 38 40 42 44 46 46 48
UNIT SALES
U.S. market share by segment 2012 first-half sales Motorcycle market PWC market ATV market UTV market Scooter market Snowmobile market
DEALER DIRECTORY
50 The most extensive list available publicly of dealers, listed alphabetically by state then city.
SPONSORS
NPA See our ad on page 2-3 www.npauctions.com
4
MARKET DATA BOOK / DEALER DIRECTORY 2012
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DEALER DIRECTORY
FROM THE EDITOR www.powersportsbusiness.com Editorial and Sales: 800.848.6247 Subscriber Service: 866.238.3237
SENIOR EdITOR: dave McMahon 763/383-4411 ([email protected]) ASSOCIATE EdITOR: Liz Hochstedler 763/383-4413 ([email protected]) ONLINE EdITOR: Mike davin 763/383-4408 ([email protected]) ASSOCIATE dIgITAL EdITOR: Christopher gerber ART dIRECTOR: dodi Vessels PROdUCTION COORdINATOR: Kelsey Houle PUbLISHINg gROUP COORdINATOR: Lori Hackett gROUP PUbLISHER: John Prusak NATIONAL ACCOUNT MANAgER Allison gruhn 763/383-4467 ([email protected]) NATIONAL ACCOUNT MANAgER Mark Rosacker 763/383-4433 ([email protected]) ASSOCIATE PUbLISHER david J. Voll 763/383-4421 ([email protected]) Production Specialist: Cherri Perschmann, digital Advertising and Marketing Manager: Jeffrey Larson, Senior Marketing Manager: Kathryn Knudson, Administrative Assistant-Audience development: Molly Sullivan, digital Media Manager: Chris Soash, digital Marketing Specialist: Kathryn benson, digital Editor: Nicholas Upton dEALER AdVISORy bOARd: Hooksett Kawasaki-Polaris, Jim Whalley; Hacker’s yamaha & Honda, Rick Hacker; Honda/Polaris of Lubbock, Morris baker; All Action Water Sports, Ray Leps
PRESIdENT: Stephen M. Hedlund SENIOR VICE PRESIdENT/dIgITAL MEdIA: Stacey Marmolejo SENIOR VICE PRESIdENT/PROdUCTION: barb Hammer SENIOR VICE PRESIdENT/AdVERTISINg SALES: Steve Schiffman VICE PRESIdENT/AUdIENCE dEVELOPMENT: Jill Anderson POWERSPORTS bUSINESS (ISSN #1522-7944) is published 15 times per year — monthly except twice in April and October and the Market data book/ dealer directory in September — by gS Media & Events (a division of good Sam Enterprises, LLC), 3300 Fernbrook Lane N #200, Minneapolis, MN 55447. Periodicals postage paid at Plymouth, MN 55447 and additional mailing offices. SUbSCRIPTION INFORMATION: Free to qualified members of the motorcycle, all-terrain vehicle, snowmobile and personal watercraft industries. Annual subscription rate is $56 per year for U.S residents, $76 for Canadian residents and $96 for residents in other countries. All paid subscriptions must be paid in advance and in U.S. funds only.. POSTMASTER: Send address changes to Powersports business, P.O. box 5858, Harlan, IA 51593-1358. CUSTOMER SERVICE: Visit www.powersportsbusiness.com, email [email protected], call 866-238-3237 or write to Powersports business, PO box 5858, Harlan, IA 51593-1358. CANAdIAN RETURN AddRESS: gS Media & Events, 4960-2 Walker Road, Windsor, Ontario N9A 6J3. Publication Sales Agreement #40012332. EdITORIAL: All manuscripts, materials, photographs and artwork submitted are at mailer’s risk and must include self-addressed envelope with sufficient postage for return. Send editorial materials to Affinity Media, 3300 Fernbrook Lane N, Suite 200, Minneapolis, MN 55447, 763/383-4400. No responsibility will be assumed for unsolicited materials. Powersports business is a registered trademark of Ehlert Publishing group, Inc. Copyright 2011 by Ehlert Publishing group, Inc. All rights reserved. Reproduction in whole or part is prohibited unless expressly authorized by publisher. REPRINTS: For more information on e-prints or reprints from Powersports business, contact bernadette Wohlman, 800/848-6247 x2464. Printed in U.S.A.
CHAIRMAN & CEO: Marcus Lemonis
6
EXECUTIVE VP: Tom Wolfe
Something for everyone Call me a data freak. I was talking with a colleague in August about the prospects for a new football season, one that brings with it another fantasy football league, or, in my case, a couple. DAVE McMAHON We reversed course a bit and began discussing the early days of fantasy baseball, when I would buy the USA Today on Tuesday to compile the American League statistics, and return to the store on Wednesday to collect the National League version in that day’s newspaper. Before wife and kids, and the ensuing evening coaching duties, I would spend hours perusing data compiled on stars of yesteryear. It’s not surprising, then, that the Market Data Book is one of the most satisfying efforts that we produce at Powersports Business. Associate Editor Liz Hochstedler and I spent the year rifling through files upon files of data from all sorts of segments of the industry. We understand that in order to help you run your business more effectively, any benchmarks that we can provide is an asset for you. Consider the Market Data Book another important piece of business intelligence. We don’t portend to sit in your seats as company owners, presidents or CEOs, but Liz and I collectively will continue to do our best to provide you with market intelligence in exchange for your time. We know you have a business to run, and your time doesn’t have a pricetag. We discovered in a recent Powersports Business survey that nearly two out of three of our readers consider themselves either an owner, president, CEO, sales manager or general manager in the powersports industry. Trust me, we take extreme pride in trying to uphold the relevance that the Market Data Book has generated since its inception by our predecessors. Success in these still-not-out-ofthe-woods-yet economic environment doesn’t come with opening the door to your business each morning. As you can see by glancing through the Dealer Direc-
MARKET DATA BOOK / DEALER DIRECTORY 2012
P006-PSD12MDB-Dave.indd 6
tory in this edition, you are now among of a select group of businesses that have weathered another storm. We learn more each day about how difficult it can be to successfully operate a business in the powersports industry. Regardless of your segment of the industry — we talk to dealers every day, enjoy the time provided by OEM executives, and are amazed at the entrepreneurial spirit of virtually all of us in the industry — our goal is for you to turn to the Market Data Book to grow your knowledge about the industry. It’s the only product of its kind in the market, and quite simply, it helps lead to investment in the industry. Often, it serves as a starting point for businesses looking to enter the segment. Liz and I have talked to noticeably more investors interested in the powersports industry this year than we did last. It’s a sign of admiration about your dealerships and powersports companies. So enjoy the stats and data like I used to do pre-Internet with my fantasy baseball teams. For your assistance, we’ve provided contact information from each of our data partners. They’re familiar names and businesses that you see in each of our editions of Powersports Business. I couldn’t begin to count the amount of hours that each of our data partners commits to assisting us with the Market Data Book, but know that, like all of us here at Powersports Business, they’re committed to providing you with data that’s most relevant to your business. If you like what you see in the Market Data Book, be sure to sign up for our inaugural State of the Industry webinar on Oct. 16 at 2 p.m. EDT. I’ll be hosting it, and it will include speakers from ADP Lightspeed, National Powersport Auctions, Polk and Spader Business Management. They will all provide insight into what you see on these pages, as well as market intelligence that will be exclusive to webinar attendees. We’ll look forward to your registration at www.powersportsbusiness. com/webinars. Dave McMahon is Senior Editor of Powersports Business. Reach him at dmcmahon@ powersportsbusiness.com or 763/383-4411. | POWERSPORTS BUSINESS |
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Some dealers rely more heavily on units than others Lines carried, revenue levels play factors
10% 100% 90% 80% 70%
8% 12%
20% 1% 4% 6%
30%
40% 1% 3% 8%
17%
60%+ 5% 3% 12%
27%
20%
60%
50%
1% 9%
15%
33% 34%
29% 47%
87%
30%
Unit sales are what most dealerships were based on when they started their business. If a customer buys a unit, they’ll likely purchase gear, and there’s a chance they’ll need service down the road. But not every dealership relies heavily on unit sales when it comes to their revenue streams. An online survey of 254 dealers from 44 states and Canada by Powersports Business revealed the types of vehicles carried and the amount of revenue a dealership brings in may determine which departments they focus most on. All dealership data is based on the dealership’s 2011 performance. V-twin dealers lean more heavily on new and used unit sales than their metric and non-motorcycle-selling counterparts. Three-quarters of V-twin dealers reported that 30 percent or more of their revenue comes from new unit sales, while 37 percent said the same about pre-owned units. Conversely, only 69 percent of metric dealers said their new unit sales accounted for 30 percent or more of their revenue, and 28 percent see the same 30 percent-plus revenues from their pre-owned units. Only 58 percent of non-motorcycle dealers reported that new unit sales account for 30 percent or more of their revenue, while used units represent 30 percent or more for 28 percent of nonmotorcycle dealers. Non-motorcycle dealers rely most heavily on their service departments, as 59 percent reported that service accounts for 30 percent or more of their revenue. Non-motorcycle and metric dealers also concentrate more on their PG&A departments than V-twin dealers. Nearly 40 percent of nonmotorcycle and metric dealers reported that PG&A accounts for 30 percent or more of their revenue, while only 16 percent of V-twin dealers reported the same. Trends can also be found based on the total amount of money each dealership brings in. Those dealers who bring in $5 million or more in annual revenue look to their new unit sales the most,
An online survey of
254
dealers from 44 states and Canada
See Survey on Page 10
MARKET DATA BOOK / DEALER DIRECTORY 2012
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METRIC DEALERS’ REVENUE BREAKDOWN
40%
ASSOCIATE EDITOR
DEALER DIRECTORY
Below shows the percentage that each profit center contributed to dealers’ total revenues in 2011.
50%
BY LIZ HOCHSTEDLER
8
UNIT SALES
20% 10% 0%
19%
39%
31% 15%
12% New Unit Sales
Used Unit Sales
PG&A Sales
Service Sales
F&I Sales
V-TWIN DEALERS’ REVENUE BREAKDOWN 10% 100% 90% 80%
10% 15% 23%
50% 40%
30%
40%
50%
60%+
4% 2% 6% 4%
8% 4% 2% 12%
50%
29%
23%
70% 60%
20%
4% 2% 8%
2% 2% 2% 12%
33% 80%
27%
30% 20% 10% 0%
8%
46%
31%
33%
Used Unit Sales
PG&A Sales
17% New Unit Sales
Service Sales
F&I Sales
NON-MOTORCYCLE DEALERS’ REVENUE BREAKDOWN 10% 100% 90% 80% 70%
11% 10%
12%
0%
60%+ 11%
3% 3% 3%
9%
31% 92%
36%
21%
22% 45%
20% 10%
50%
8% 26%
27% 16%
40% 30%
30% 40% 3% 2% 7%
21%
60% 50%
20%
3% 5% 8%
26%
20% New Unit Sales
Used Unit Sales
20%
PG&A Sales
Service Sales
F&I Sales
Source: Powersports Business
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SURVEY CONTINUED FROM PAGE 8 with 86 percent saying new units accounted for 30 percent or more of their revenue. That number trickles down to the dealerships who bring in less than $1 million yearly, as only 51 percent reported the same about their new unit sales. However, those smaller dealerships rely a bit more on used units with 42 percent reporting pre-owned units account for 30 percent or more of their revenue, while
UNIT SALES
DEALER DIRECTORY
only 31 percent of those dealers with $5 million-plus in revenues said the same. PG&A numbers nearly reflected those of pre-owned units, as 41 percent of the smallest dealerships reported they make 30 percent or more of their revenue off that department, while only 27 percent of the largest dealers reported the same. The biggest disparity in this analysis comes from the service department. An astounding 70 percent of the under $1 million dealers reported that 30 percent or more of their revenue comes from the service depart-
ment, while only 13 percent of the largest dealers reported the same. Surprisingly, most of the dealers surveyed faired about the same in F&I. Only 3-6 percent in each revenue category reported that 30 percent or more of their revenues came from F&I. These revenue breakdowns vary somewhat from 2010. Most notable for dealers bringing in $1 million or less was the increase in revenue from pre-owned units. In 2011, only 19 percent reported 30 percent See Survey on Page 12
DEALER BRANDS The 254 dealers responding to the Powersports Business survey carry a number of different brands. Polaris Yamaha Honda Kawasaki Suzuki Can-Am Sea-Doo Victory Ski-Doo Arctic Cat Harley-Davidson KTM Zero KYMCO Triumph
93 91 87 75 73 51 45 43
Eton BMW Husqvarna Hyosung 0
33 30 23 23 20 19 19 18 Piaggio/Vespa/Aprilia/Moto Guzzi 17 14 12 10 10 20 30 40 50 60 70
80
90
100
NUMBER OF DEALERS
DEALER REVENUE The dealers who participated in the survey come from a variety of store sizes. More than $10 million
18%
$5-$10 million
19%
$3-$5 million
17%
$1-$3 million
26%
Less than $1 million
21% 0%
5%
10%
15%
20%
25%
30%
PERCENTAGE OF DEALERS Source: Powersports Business
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MARKET DATA BOOK / DEALER DIRECTORY 2012
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UNIT SALES
NEW UNITS SOLD The number of units sold in 2011 varied, giving the survey a representative mix.
401 or more
32%
201-400
22%
101-200
16%
100 or less
30%
0%
5%
10%
15%
20%
25%
30%
PERCENTAGE OF DEALERS Source: Powersports Business
12
MARKET DATA BOOK / DEALER DIRECTORY 2012
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35%
DEALER DIRECTORY SURVEY CONTINUED FROM PAGE 10 or more of their revenue came from used units. The number of the $1 million or less dealers reporting other departments accounted for 30 percent or more of their revenue were: new sales, 48 percent; PG&A, 68 percent; service, 67 percent; and F&I, zero percent. In 2011, the largest dealers relied less on new units and PG&A and more on used units and service for their revenue. F&I totals for both years were equal. In 2011, dealers with $5 million or more in revenue said the departments that accounted for 30 percent or more of their revenue were: 94 percent for new units, 22 percent for used units, 30 percent for PG&A and 8 percent for service. STAFFING
Staffing trends have shifted somewhat from 2010, according to the survey. Dealers with revenues under $1 million reported having more full-time staff in their sales and service departments, and less in their
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PG&A and administrative/accounting areas. The biggest change was found in the PG&A department, where only 15 percent of these dealers reported having two or more fulltime employees. Last year 32 percent reported the same. Department sizes remained about the same for dealers with revenues of $1-3 million. The biggest change from 2010 to 2011 was a 9 percentage-point increase in the sales department for dealers employing two or more staffers. This year 63 percent reported having two or more salespeople. Like the dealers with the smallest revenues, those with $3-5 million in annual revenue also made the biggest change by decreasing its number of PG&A employees. Half of those dealers reported having three or more employees in PG&A in 2011; in 2010 that number was 61 percent. The largest dealerships, those
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UNIT SALES
bringing in $5 million or more annually, added to their administrative staffs, while most other departments remained at about the same staffing levels. More than half — 57 percent — of those dealers reported having three or more employees in administration and accounting, while last year only 46 percent reported the same. Despite revenue size, however, the 2012 survey showed a majority of dealers in each revenue category employ only one full-time F&I staffer. That was reported by 95 percent of dealers with revenues under $1 million, 82 percent with revenues of $1-3 million, 81 percent in the $3-5 million category and 56 percent of those bringing in $5 million-plus. Each category of dealers, except the $1-3 million group, also had a larger number of poll-takers reporting they rely on seasonal part-timers. PSB
DEALER DIRECTORY NUMBER OF STORES A large majority of survey respondents run only one dealership. 4 or more locations 4%
2-3 locations 15%
1 location 81%
Source: Powersports Business
MARKET DATA BOOK / DEALER DIRECTORY 2012
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UNIT SALES
Dealers with annual revenue of less than $1 million
Dealers with annual revenue of $1 million - $3 million
DEALERSHIP REVENUE BREAKDOWN
DEALERSHIP REVENUE BREAKDOWN
Dealers in the smallest revenue category relied heavily on service.
10% 100% 90% 80%
8% 5%
8% 2% 10%
40%
50%
25%
34%
9%
70%
11%
60%
94%
25%
18%
35%
10%
11% New Unit Sales
Used Unit Sales
PG&A Sales
Service Sales
F&I Sales
Dealers with annual revenue of $3 million - $5 million
0%
100% 90% 80% 70%
12% 10%
40% 2% 4%
18% 30%
50%
2% 6% 16%
3% 3% 10%
23%
41%
48%
15%
100% 90%
14% 14%
16%
10% Used Unit Sales
PG&A Sales
85%
46%
20%
30%
1% 7%
1% 8%
23%
18%
40%
10%
18% Used Unit Sales
PG&A Sales
F&I Sales
Service Sales
F&I Sales
60%+ 1% 2% 10%
0%
2% 1% 2% 11%
24% 36%
48% 83%
34%
20%
38%
50%
40% 30%
49%
8%
Service Sales
32%
50%
25%
New Unit Sales
92% 55%
The dealers bringing in the highest revenues concentrated on new unit sales more than their counterparts.
60%
30%
0%
26%
New Unit Sales
80%
38%
10%
3% 5%
10%
70%
40%
20%
7% 5%
21%
10%
29%
27%
22%
60%+
19%
60%+
18%
60% 50%
2% 2%
30%
22%
50%
DEALERSHIP REVENUE BREAKDOWN
In this category, dealers gained the most revenue from new unit sales, followed by PG&A. 20%
40%
Dealers with annual revenue of more than $5 million
DEALERSHIP REVENUE BREAKDOWN
10%
30%
5% 8%
18%
20%
26%
10% 0%
50%
30%
35%
13%
20%
2% 7% 2%
40%
30% 20%
6%
80%
14%
22%
100% 90%
9%
19% 14%
10%
6%
9%
Though dealers in this category focued mostly on new unit sales, the service department was also very important.
60%+
9%
22%
50% 40%
30%
19%
70% 60%
20%
DEALER DIRECTORY
55% 33%
9% 4% New Unit Sales
Used Unit Sales
25% PG&A Sales
Service Sales
F&I Sales
Source: Powersports Business
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UNIT SALES
Dealers with annual revenue of less than $1 million
Dealers with annual revenue of $1 million - $3 million
FULL-TIME EMPLOYEE BENEFITS
FULL-TIME EMPLOYEE BENEFITS
A third of dealers in the smallest revenue category offer other benefits, such as vacation time, discounts, bonuses and more. 50%
More than one-third of dealers in this category offer health, dental and/or retirement benefits. 100%
47%
45%
90%
40%
80%
33%
35%
60%
25%
50%
20%
20%
5%
10% 0%
Health
Dental
Retirement
Profit Sharing
Other
Dealers with annual revenue of $3 million - $5 million
100%
91% 90%
80%
80%
70%
70%
60%
60%
Dental
Retirement
Profit Sharing
Other
94%
69%
50%
45% 36%
45%
41%
40% 30%
30% 20%
20%
12% 6%
10% 0%
Health
Nearly all the dealers in the largest revenue category offer health insurance, and most offer retirement benefits.
90%
40%
9%
FULL-TIME EMPLOYEE BENEFITS
Only 9 percent of dealers in this category don’t offer health insurance.
50%
22%
Dealers with annual revenue of more than $5 million
FULL-TIME EMPLOYEE BENEFITS
100%
38%
30%
11%
10%
0%
36%
40%
16%
14%
89%
70%
30%
15%
DEALER DIRECTORY
Health
Dental
Retirement
Profit Sharing
Other
10% 0%
3% Health
Dental
Retirement
Profit Sharing
Other
Source: Powersports Business
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UNIT SALES
Dealers with annual revenue of less than $1 million
Dealers with annual revenue of $1 million - $3 million
DEALERSHIP WORKFORCE
DEALERSHIP WORKFORCE
The smallest dealerships added the most staff to their sales and service departments. 1 100%
8%
90% 80%
2
3
4
5
4% 4% 7%
11% 11%
1
6%
7%
100%
3% 2%
90%
13%
80%
28%
60%
45%
50%
94%
86%
40%
93%
34%
Service
1 2% 7% 14%
PG&A
Admin/Accounting
F&I
2
3
4 8%
5
45%
36%
30%
79%
82%
32% 42%
37%
0%
2% 10%
19%
3
4
F&I
60%
81%
33%
40%
18%
40%
10%
10% Admin/Accounting
F&I
0%
24%
19%
30%
20%
34% 14% 7% Sales
32%
76% 14%
20%
10%
7% 13%
28%
66%
26%
PG&A
6+ 1%
50%
30%
5
13%
90% 80%
22%
Service
2
70%
40%
Sales
Admin/Accounting
Dealers with annual revenue of more than $5 million
1
29%
12%
PG&A
100%
12%
20%
Service
The dealers producing the most revenue added to their administrative staffs in 2011.
20%
38%
Sales
6+
24%
26%
50%
0%
18%
DEALERSHIP WORKFORCE
22%
70%
10%
17%
12%
10%
Sales
These dealers decreased their staff levels in PG&A.
30%
8%
6+ 3%
10%
DEALERSHIP WORKFORCE
60%
5
50%
20%
Dealers with annual revenue of $3 million - $5 million
80%
4 2% 3% 5%
16%
30%
10%
90%
3
40%
65%
20%
100%
2
5%
70%
60%
0%
Dealers in this category increased the sizes of their sales departments from 2010.
6+
70%
30%
DEALER DIRECTORY
14% 8% 2% Service
56%
14% 12% 1% PG&A
9% Admin/Accounting
F&I
Source: Powersports Business
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UNIT SALES
DEALER DIRECTORY
WHOLESALE DATA REPORT: UTV The following is a list of the top 50 used UTVs that consumers viewed from May 2011-August 2012 on the Kelley Blue Book website, plus how these popular models have changed in value during that time period. The Kelley Blue Book wholesale value is what a dealer should consider paying for a vehicle at auction, including any transportation and reconditioning fees. For this value, the vehicle should be clean, fully reconditioned and have acceptable mileage. It does not take into consideration any aftermarket products that have been placed on the vehicle. For more information on this list, contact Matt Eaken of Kelley Blue Book at 949/267-4461.
RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50
YEAR 2008 2006 2007 2007 2007 2008 2008 2006 2009 2004 2005 2009 2010 2010 2005 2007 2011 2006 2009 2008 2009 2004 2006 2007 2009 2007 2010 2005 2009 2011 2009 2003 2009 2010 2008 2008 2011 2008 2006 2007 2006 2006 2002 2008 2007 2008 2008 2009 2011 2011
MAKE Polaris Yamaha Polaris Yamaha Yamaha Polaris Yamaha Polaris Polaris Yamaha Yamaha Polaris Polaris Polaris Polaris Polaris Polaris Yamaha Yamaha Polaris Polaris Polaris Yamaha Yamaha Polaris Yamaha Polaris Polaris Yamaha Polaris Yamaha Polaris Polaris Polaris Kawasaki Kawasaki Polaris Yamaha Polaris Arctic Cat Polaris Arctic Cat Polaris Polaris Arctic Cat Yamaha Arctic Cat Yamaha Polaris Can-Am
MODEL Ranger RZR Rhino 660 4x4 Ranger XP Rhino 660 4x4 SE Rhino 660 4x4 Ranger XP Rhino 700 4x4 Ranger XP Ranger RZR 760 Rhino 660 4x4 Rhino 660 4x4 Ranger RZR 760 S Ranger RZR 800 S Ranger RZR 800 Ranger 4x4 Ranger 4x4 EFI Ranger RZR 800 Rhino 450 4x4 Rhino 700 4x4 Ranger 4x4 Ranger XP Ranger 4x4 Rhino 660 4x4 SE Rhino 450 4x4 Ranger RZR 760 LE Rhino 660 4x4 Sport Ranger XP 800 Ranger XP 700 4x4 Rhino 450 4x4 Ranger RZR S 800 LE Rhino 700 4x4 Special Edition Ranger 4x4 Ranger 4x4 Ranger RZR 4 Robby Gordon Edition KRF750A Teryx 750 4x4 KRF750D Teryx 750 4x4 LE Ranger RZR S 800 Rhino 450 4x4 Ranger 4x4 650 H1 Prowler Ranger 4x4 EFI 650 H1 Prowler XT Ranger 4x4 Ranger Crew 650 H1 Prowler XT Rhino 700 4x4 Sport Edition Prowler XT 4x4 Auto Rhino 700 4x4 Sport Edition Ranger RZR XP 900 Commander 1000 X
TOTAL PAGE VIEWS 10,537 7,213 4,134 4,040 4,031 4,021 4,009 3,987 3,905 3,854 3,831 3,171 3,073 2,975 2,931 2,653 2,596 2,563 2,500 2,436 2,314 2,260 2,221 2,173 2,155 2,024 2,015 1,825 1,803 1,750 1,696 1,654 1,539 1,496 1,471 1,460 1,459 1,455 1,450 1,389 1,349 1,313 1,261 1,256 1,209 1,193 1,189 1,171 1,166 1,141
MAY-AUG. 2011 WHOLESALE $6,650 $5,050 $5,700 $5,600 $5,550 $6,000 $5,900 $5,350 $7,250 $4,200 $4,600 $8,800 $9,500 $7,600 $4,100 $4,925 $7,700 $4,075 $6,400 $5,350 $6,900 $3,750 $5,100 $4,450 $7,800 $6,150 $7,000 $4,850 $5,250 $9,000 $6,750 $3,450 $5,800 $9,800 $5,300 $5,500 *$8,400 $4,825 $4,500 $4,700 $4,525 $4,475 $3,175 $7,200 $5,050 $6,750 $5,500 $7,300 *$10,600 $10,100
MAY-AUG. 2012 WHOLESALE $6,050 $4,800 $5,650 $5,350 $5,300 $6,000 $5,550 $5,150 $6,550 $4,050 $4,400 $7,450 $8,100 $7,100 $4,025 $4,850 $7,650 $4,150 $6,000 $5,300 $6,700 $3,700 $4,850 $4,550 $6,750 $5,850 $6,450 $4,700 $5,350 $8,850 $6,250 $3,400 $5,700 $9,500 $5,300 $5,500 $8,350 $4,950 $4,400 $4,175 $4,425 $4,325 $3,125 $6,550 $4,725 $6,250 $5,150 $6,800 $10,300 $9,200
% CHANGE -9.0% -5.0% -0.9% -4.5% -4.5% 0.0% -5.9% -3.7% -9.7% -3.6% -4.3% -15.3% -14.7% -6.6% -1.8% -1.5% -0.6% 1.8% -6.3% -0.9% -2.9% -1.3% -4.9% 2.2% -13.5% -4.9% -7.9% -3.1% 1.9% -1.7% -7.4% -1.4% -1.7% -3.1% 0.0% 0.0% -0.6% 2.6% -2.2% -11.2% -2.2% -3.4% -1.6% -9.0% -6.4% -7.4% -6.4% -6.8% -2.8% -8.9%
*Value is from September through December 2011 edition (first time value published)
20
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INDUSTRY CLOSE UP
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WHOLESALE DATA REPORT: ATV The following is a list of the top 50 used ATVs that consumers viewed from May 2011-August 2012 on the Kelley Blue Book website, plus how these popular models have changed in value during that time period. The Kelley Blue Book wholesale value is what a dealer should consider paying for a vehicle at auction, including any transportation and reconditioning fees. For this value, the vehicle should be clean, fully reconditioned and have acceptable mileage. It does not take into consideration any aftermarket products that have been placed on the vehicle. For more information on this list, contact Matt Eaken of Kelley Blue Book at 949/267-4461.
RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 22
YEAR 2005 2005 2004 2000 2005 2007 2005 2002 2005 2006 2001 2007 2003 2006 2005 2002 2004 2005 2005 2004 2007 2003 2008 1999 2003 2008 2004 2002 2003 2007 2004 2007 2001 2007 2002 2004 2004 2006 2002 2006 2008 2004 2006 2003 2007 2001 2007 2003 2005 2008
MAKE Honda Polaris Polaris Polaris Honda Honda Yamaha Polaris Yamaha Yamaha Yamaha Yamaha Suzuki Yamaha Yamaha Yamaha Yamaha Honda Kawasaki Honda Honda Honda Kawasaki Polaris Polaris Honda Yamaha Polaris Yamaha Yamaha Polaris Honda Polaris Polaris Honda Polaris Suzuki Polaris Yamaha Polaris Polaris Polaris Honda Polaris Honda Honda Honda Honda Yamaha Polaris
MODEL TRX450R Sportsman 500 4x4 Sportsman 500 4x4 Sportsman 500 4x4 TRX650FA Rincon 650 TRX400EX YZF450 Sportsman 500 4x4 660R Raptor 660 Raptor 700R YFM660R Raptor 660 Grizzly 700 4x4 LT-Z400F Quadsport Z400 YFZ450 Grizzly 660 4x4 YFM660F Grizzly 660 4x4 Grizzly 660 4x4 TRX400EX KVF750-A1 Brute Force 750 4x4i TRX400EX Sportrax 400 TRX680FA Rincon 680 TRX650FA Rincon 650 KFX450R Sportsman 500 Sportsman 700 4x4 TRX420FE Rancher ES 4x4 YFZ450 Sportsman 700 4x4 YFM 660R Raptor 660R Raptor 700R Sportsman 400 4x4 TRX450ER Electric Start Sportsman 500 4x4 Sportsman 500 EFI Standard TRX400EX Sportsman 700 4x4 LT-Z 400 Quadsport 400 Sportsman 500 HO EFI YFM660R Raptor 660 Sportsman 800 EFI Sportsman 800 EFI Sportsman 700 4x4 EFI TRX350FE Rancher ES 4x4 Predator 500 TRX420FE Rancher ES 4x4 TRX400EX TRX250EX Sportrax TRX400EX Sportrax 400 Kodiak 450 4x4 Sportsman 500 HO
MARKET DATA BOOK / DEALER DIRECTORY 2012
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TOTAL PAGE VIEWS 9,861 9,554 8,816 7,532 7,238 6,979 6,976 6,963 6,781 6,760 6,593 6,460 6,386 6,197 6,151 6,070 6,049 6,030 5,985 5,852 5,846 5,779 5,700 5,572 5,562 5,501 5,496 5,467 5,454 5,340 5,334 5,323 5,211 5,191 5,120 5,116 5,058 4,997 4,996 4,932 4,932 4,882 4,821 4,776 4,770 4,768 4,721 4,712 4,710 4,618
MAY-AUG. 2011 WHOLESALE $2,110 $2,850 $2,600 $1,800 $3,100 $2,020 $2,250 $2,140 $2,070 $2,760 $1,550 $3,850 $1,600 $2,500 $2,890 $2,190 $2,610 $1,650 $2,790 $1,520 $3,750 $2,560 $2,760 $1,680 $2,520 $3,150 $2,050 $2,320 $1,760 $3,075 $2,260 $2,770 $2,050 $3,250 $1,340 $2,730 $1,710 $3,225 $1,650 $3,700 $4,300 $2,750 $2,480 $1,560 $2,830 $1,260 $1,540 $1,420 $2,570 $3,600
MAY-AUG. 2012 WHOLESALE $1,990 $2,780 $2,550 $1,800 $2,960 $1,950 $2,030 $2,140 $1,860 $2,470 $1,410 $3,525 $1,500 $2,240 $2,800 $2,140 $2,560 $1,600 $2,710 $1,480 $3,550 $2,470 $2,700 $1,680 $2,440 $3,125 $1,890 $2,250 $1,610 $2,750 $2,240 $2,490 $1,970 $3,175 $1,290 $2,670 $1,620 $3,050 $1,510 $3,625 $4,250 $2,690 $2,410 $1,440 $2,810 $1,210 $1,490 $1,380 $2,460 $3,200
% CHANGE -5.7% -2.5% -1.9% 0.0% -4.5% -3.5% -9.8% 0.0% -10.1% -10.5% -9.0% -8.4% -6.3% -10.4% -3.1% -2.3% -1.9% -3.0% -2.9% -2.6% -5.3% -3.5% -2.2% 0.0% -3.2% -0.8% -7.8% -3.0% -8.5% -10.6% -0.9% -10.1% -3.9% -2.3% -3.7% -2.2% -5.3% -5.4% -8.5% -2.0% -1.2% -2.2% -2.8% -7.7% -0.7% -4.0% -3.2% -2.8% -4.3% -11.1%
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DEALER DIRECTORY
WHOLESALE DATA REPORT: MOTORCYCLE The following is a list of the top 50 used motorcycles that consumers viewed from May 2011-August 2012 on the Kelley Blue Book website, plus how these popular models have changed in value during that time period. The Kelley Blue Book wholesale value is what a dealer should consider paying for a vehicle at auction, including any transportation and reconditioning fees. For this value, the vehicle should be clean, fully reconditioned and have acceptable mileage. It does not take into consideration any aftermarket products that have been placed on the vehicle. For more information on this list, contact Matt Eaken of Kelley Blue Book at 949/267-4461.
RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 24
YEAR 2007 2006 2007 2009 2006 2007 2008 2007 2006 2008 2007 2005 2005 2005 2008 2007 2003 2008 2007 2005 2009 2006 2006 2007 2004 2003 2008 2005 2003 2006 2006 2003 2007 2008 2004 2003 2007 2007 2009 2009 2004 2003 2008 2006 2009 2001 2006 2002 2009 2007
MAKE Suzuki Suzuki Yamaha Kawasaki Honda Honda Kawasaki Kawasaki Yamaha Honda Harley-Davidson Honda Harley-Davidson Yamaha Yamaha Kawasaki Honda Suzuki Suzuki Suzuki Yamaha Harley-Davidson Honda Harley-Davidson Yamaha Yamaha Harley-Davidson Kawasaki Harley-Davidson Harley-Davidson Harley-Davidson Honda Kawasaki Honda Harley-Davidson Honda Harley-Davidson Yamaha Honda Harley-Davidson Suzuki Harley-Davidson Harley-Davidson Suzuki Harley-Davidson Honda Honda Honda Kawasaki Harley-Davidson
TOTAL MODEL PAGE VIEWS GSX-R600 47,847 GSX-R600 39,537 YZF-R6 39,096 EX250J Ninja 250R 38,674 CBR600RR 35,663 CBR600RR 35,077 EX250J Ninja 250R 33,385 ZX600P Ninja ZX-6R 31,807 YZF-R6 31,513 CBR600RR 29,900 FLHTCU Electra Glide Ultra Clsc 27,978 CBR600RR 27,794 XLC Sportster 1200 Custom 27,598 YZF-R6 27,298 YZF-R6 26,763 EX250F Ninja 250R 26,716 CBR600RR 26,625 GSX-R600 26,490 GSX-R750 26,350 GSX-R600 26,310 YZF-R6 25,771 XLC Sportster 1200 Custom 24,568 CBR1000RR 23,507 FLHX Street Glide 23,274 YZF-R6 22,411 YZF-R6 22,131 FLHTCU Electra Glide Ultra Clsc 21,695 ZX636-C1 Ninja ZX-6R 21,308 FLSTF Fatboy Softail 21,186 FLHX Street Glide 21,139 FLHTCUI Electra Glide Ultra Clsc 21,082 VT750DC Shadow 750 Spirit 21,058 EX650A Ninja 650R 20,943 CBR1000RR 20,839 XLC Sportster 1200 Custom 20,743 VT750CD Shadow 750 Ace Deluxe 20,730 XL1200C Sportster 1200 Custom 20,681 YZF-R1 20,543 CBR600RR 20,500 FLHX Street Glide 20,262 GSX-R600 20,245 FLSTC Heritage Softail Classic 20,237 FLHX Street Glide 20,236 GSX-R1000 20,097 FLHTCU Electra Glide Ultra Clsc 20,059 CBR600F4i 19,459 VTX1300C 18,937 CBR600F4i 18,930 EX650C Ninja 650R 18,866 FLSTC Heritage Softail Clsc 18,702
MARKET DATA BOOK / DEALER DIRECTORY 2012
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MAY-AUG. 2011 WHOLESALE $4,025 $3,575 $4,375 $2,190 $4,050 $4,750 $1,960 $3,900 $3,875 $5,100 $13,800 $3,625 $4,450 $3,350 $4,950 $1,760 $2,920 $4,850 $4,950 $3,200 $5,600 $4,750 $4,775 $13,600 $2,970 $2,600 $15,100 $3,150 $8,900 $11,400 $12,200 $2,300 $2,590 $5,900 $4,250 $2,360 $5,350 $5,700 $5,650 $15,400 $3,000 $9,250 $14,800 $5,000 $17,300 $2,030 $4,350 $2,240 $3,350 $12,100
MAY-AUG. 2012 WHOLESALE $4,250 $3,475 $4,050 $2,080 $3,725 $4,225 $1,940 $3,950 $3,550 $4,775 $12,200 $3,300 $4,100 $3,050 $4,575 $1,600 $2,810 $5,200 $4,725 $3,000 $5,150 $4,400 $4,625 $12,900 $2,730 $2,470 $14,500 $2,850 $8,200 $10,800 $11,500 $2,220 $2,460 $5,600 $3,900 $2,460 $4,800 $5,350 $5,400 $14,700 $2,760 $7,850 $13,900 $4,925 $16,000 $1,920 $4,150 $2,090 $3,275 $10,700
% CHANGE 5.6% -2.8% -7.4% -5.0% -8.0% -11.1% -1.0% 1.3% -8.4% -6.4% -11.6% -9.0% -7.9% -9.0% -7.6% -9.1% -3.8% 7.2% -4.5% -6.3% -8.0% -7.4% -3.1% -5.1% -8.1% -5.0% -4.0% -9.5% -7.9% -5.3% -5.7% -3.5% -5.0% -5.1% -8.2% 4.2% -10.3% -6.1% -4.4% -4.5% -8.0% -15.1% -6.1% -1.5% -7.5% -5.4% -4.6% -6.7% -2.2% -11.6%
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Gross margins on V-twin unit sales take a hit Steady increase shown in both parts and service
AVERAGE PARTS COUNTER INVOICE MAP A - METRIC
BY DAVE McMAHON
$95.49 / $106.43
SENIOR EDITOR
+11%
An analysis of motorcycle sales metrics over the past six years by ADP Lightspeed shows steady increases in both parts and service, but substantial decreases in major unit gross margin. These trends hold true in all six regions of the country. Three sales metrics were selected for study — one in each of the three major dealership departments: Average Parts Counter Ticket Amount; Average Service Repair Order Amount; and Gross Margin Percentage for new major unit sales. The report is divided by V-twin and metric in six regions of the country and covers the years 2006 through the first half of 2012. A total of $44 billion dollars in included in the study. “We can see [in Chart A on Page 30] that the average counter ticket for all six years has climbed for both V-twin and metric, but there was a time in 2009-10
MAP B - V-TWIN
$78.70 / $92.81
+9%
+10%
$89.74/ $96.98
+15%
+8%
+1%
+12%
+5%
+7% $95.75 / $102.36
$97.86 / $105.31 $87.54 / $96.50
$89.55 / $103.27
$98.37 / $105.07
$84.79/ $92.02
+7%
+18%
+8%
2006/2012
$87.11 / $98.00
$101.15 / $102.49
$96.19 / $100.72
Source:
where each dropped below the previous year,” according to ADP Lightspeed senior analyst and Powersports Business columnist Hal Ethington. “Metric ended with an 11 percent gain over 2006 ($87 up to $97), and V-twin climbed 7 percent from $95 to $102. An average dealership will have about 2,000 invoices per month, so these increases in average ticket alone bring an additional $168,000 per year into the dealership.” The change in Average Repair Order revenue is noted in Chart B on Page 30. Both V-twin and metric have climbed, but metric gained 34 percent (a $72 gain from $211 to $283) while V-twin increased 19 percent
MAJOR UNIT GROSS MARGIN – METRIC
(up $64 from $332 to $396). The difference between the average repair order revenue between two types of dealerships remains unchanged though the years. “We see a dramatic change in major unit Gross Margin [in Chart C on Page 30],” Ethington said. “We found that V-Twin margin fell to a six-year low in 2011 when it posted an average of 14 percent in margin. That same year, metric dealers were getting 9 percent, with a more stable market than realized in the V-twin field. That stable market has shown remarkable resilience, varying only two See Gross margin on Page 30
MAJOR UNIT GROSS MARGIN – V-TWIN
MU GMnearly Metric the same from Gross margin on major units was 2011-12 for metric dealers.
V-twin dealers saw an increase in major unit gross margin from 2011-12.
12%
25%
MU GM V-Twin 10.7%
10.3%
10.7% 9.5%
10%
8.9%
20.5%
9.6% 20%
8.7%
19.6%
19.0%
8%
15.2% 15%
14.9%
15.2% 13.7%
6% 10%
4% 5%
2% 0%
2006
2007
2008
2009
2010
2011
2012
0%
2006
2007
2008
2009
2010
2011
2012
Source:
26
MARKET DATA BOOK / DEALER DIRECTORY 2012
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INDUSTRY CLOSE UP
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AVERAGE PARTS COUNTER TICKET – METRIC
DEALER DIRECTORY
AVERAGE PARTS COUNTER TICKET – V-TWIN
Parts counter tickets continued to climb in 2012. Parts Metric
Parts V-Twin
$98
$96.68
$96
$
$104 $101.92
$95.11
$102
$
$93.33
$94
$92.71
$92.23
$100 $98.33
$92
$
$98
$89.79
$90
$96.68 $95.94 $96
$88
M s
Parts counter tickets for V-twin dealers reached $101.92, up $3.59 from 2011.
$
$94.90
$86.76
$93.55
$94
$86
$93.12
$
$92
$84
$90
$82
$88
$80 2006
2007
2008
2009
2010
2011
2012
2006
2007
2008
2009
2010
2011
2012
Source:
28
MARKET DATA BOOK / DEALER DIRECTORY 2012
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AVERAGE REPAIR ORDER AMOUNT – METRIC
DEALER DIRECTORY
AVERAGE REPAIR ORDER AMOUNT – V-TWIN
Metric dealer’s repair order amounts have increased for seven years straight.
V-twin dealers improved by more than $7, or 1.84 percent, year-over-year.
RO Metric
RO V-Twin
$300 $262.16
$268.97
$279.14
$283.23
$244.66
$250
$420 $395.99
$400
$230.46 $211.43
$388.83
$380
$200
$374.49
$374.90
2009
2010
$356.51
$360
$150 $340
$100
$333.53
$320
$50
$0
$331.94
$300
2006
2007
2008
2009
2010
2011
2012
$280
2006
2007
2008
2011
2012
Source: For more information on the ADP Lightspeed study, contact Dave Johnson at 801/521-0300 or visit www.adplightspeed.com/dataservices
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MARKET DATA BOOK / DEALER DIRECTORY 2012
29
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UNIT SALES
GROSS MARGIN CONTINUED FROM PAGE 26
AVERAGE PARTS COUNTER TICKET
AVERAGE PRICE PER REPAIR ORDER
$103 2006/2012
$202.14 / $268.49 $204.55 / $267.38
+45%
CHART A
$102
Metric
V-Twin
$101 $99
MAP C - METRIC $227.36 / $329.08
DEALER DIRECTORY
Years 2006-12, $44 billion in sales in the U.S.
Avg Parts Ticket
DEALERS
$96
$95 $93
$95
$93 $92
$93
$85
$93 $90
$87
+35%
$97
$94
$89
+31%
+22%
$95
$98
$97
$91
+33% +47%
$97
$87 2006
2007
2008
2009
2010
2011
2012
$269.24 / $328.56 $209.95 / $283.27
$192.55 / $282.35
MAP D - V-TWIN $360.55 / $411.33
AVERAGE REPAIR ORDER REVENUE
CHART B
Years 2006-12, $44 billion in sales in the U.S.
$314.46 / $401.34 $237.33 / $368.62
+14%
$450
+55% +7%
+12%
$389.53 / $416.90 $348.11 / $399.60
$346.97 / $388.05
$400 Avg Repair Order
+15%
Metric
V-Twin
+28%
$374 $357
$350
$332
$334
$300
Source:
$262
30
MARKET DATA BOOK / DEALER DIRECTORY 2012
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$283
$279
$269
$245
$250
$230 $211
$200
2006
2007
2008
2009
2010
2011
AVERAGE MAJOR UNIT GROSS MARGIN
2012
CHART C
Years 2006-12, $44 billion in sales in the U.S. 22%
21% 20%
20%
V-Twin
Metric
19%
18% Avg New Unit Margin
points in the six year period (11 percent down to 9 percent, back to 10 percent). The two markets were separated by 10 percentage points in 2006, and that distance was closed to only 5 percentage points by 2012.” The study also analyzes the difference between regions of the U.S. for the same data points. Maps A through D show these same three trends, but the data has been separated into six U.S. regions for both metric and V-twin dealers. Maps A and B on Page 26 show the net change between 2006 and 2012 for Average Parts Counter Invoice. The Midwest region has risen from $79 to $92, or an increase of 18 percent, the largest increase among the regions. California Metric dealers rose only 8 percent in that same period. Map B presents the change in Regional Average Parts invoice for V-twin dealers. The Midwest has gained the most, up 15 percent from $90 to $103. The region showing least growth is the South, with only 5 percent change. Repair orders are presented in maps C and D. Among metric dealers, the West region showed the greatest increase at 47 percent. A gain of 55 percent was posted for V-twin dealers in the Northeast. The California region showed the lowest gain in Average Repair Order for both the metric and the V-twin markets. PSB
$396
$389
$375
16%
15%
14%
14% 12%
15%
15%
11%
10%
11%
10%
9%
10%
10%
2011
2012
9%
8% 6%
2006
2007
2008
2009
2010
Source:
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WHOLESALE PRICE FLUCTUATIONS
This study done by National Powersport Auctions shows the difference in prices dealers can expect to pay at wholesale depending on the time of the year and the vehicle category. The study includes NPA sale transactions from 2007-2012. For more information on the study, contact NPA’s Ryan O’Keefe at 858/413-1158. Normalized ASP
CRUISERS
SPORT BIKES
Cruiser
120%
120%
110%
110%
100%
100%
90%
90%
80%
80%
70%
70%
60%
Sport
60%
Dec.
Grand Total
Nov.
Oct.
Sept.
2012
Aug.
2011
July
2010
June
2009
May
2008
Apr.
Feb.
Jan.
Dec.
Nov.
2007
50%
Mar.
Grand Total
Oct.
2012
Sept.
2011
Aug.
June
May
2010
July
2009
Apr.
Mar.
2008
Feb.
Jan.
2007
50%
Normalized ASP
Normalized ASP
MOTOCROSS BIKES
ATV UTILITY
MX
Normalized ASP ATV-Utility
130%
120%
120%
110%
110% 100%
100%
90%
90%
80%
80%
70%
70%
60%
60% Dec.
Grand Total
Nov.
Oct.
2012
Sept.
2011
Aug.
July
2010
June
May
2009
Apr.
2008
Mar.
Feb.
2007
50%
Jan.
Dec.
Grand Total
Nov.
Oct.
2012
Sept.
Aug.
2011
July
May
2010
June
2009
Apr.
Mar.
Jan.
50%
2008
Feb.
2007
Normalized ASP
ATV SPORT
ATV SIDE-BY-SIDE ATV-Side by Side
Normalized ASP ATV-Sport
120% 120%
110%
110%
100% 100%
90%
90%
80%
80%
70%
70%
60% Dec.
Grand Total
Nov.
Oct.
2012
Sept.
2011
Aug.
July
2010
June
May
2009
Apr.
2008
Mar.
2007
50%
Feb.
Dec.
Grand Total
Nov.
Oct.
2012
Sept.
2011
Aug.
July
2010
June
May
2009
Apr.
2008
Mar.
Feb.
50%
Jan.
2007
Jan.
60%
Source: | POWERSPORTS BUSINESS |
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALERSHIP PERSONNEL EXPENSE
E
DEALER DIRECTORY
DEALERSHIP FLOORPLAN EXPENSE
Dealership personnel expense as a percent of gross profit dropped below 50 percent.
Floorplan expenses as a percent of gross profit dropped in 2011.
Personnel Expense
Floorplan Interest Expense
54
7
53
6
51 50 49 48
5
Percent of Gross Profit
Percent of Gross Profit
Percent of Gross Profit
52
4 3 2
47 1
46 45
2004
2005
2006
2007
2008
2009
2010
2011
0
2004
2005
2006
2007
2008
2009
2010
2011
Source: Spader Business Management
1
32
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALERSHIP ADVERTISING EXPENSE
DEALER DIRECTORY
DEALERSHIP NET PROFIT
Advertising expenses as a percent of gross profit has decreased for three years straight.
Net profit as a percentage of Netsales Profit %inof2011 Sales surpassed the previous seven years. 4
6
3.5
5 Net Profit % of Sales
Percent of Gross Profit
3
4 3 2
2.5 2 1.5 1
1 0
0.5
2004
2005
2006
2007
2008
2009
2010
2011
0
2004
2005
2006
2007
2008
2009
2010
2011
Source: Spader Business Management
| POWERSPORTS BUSINESS |
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
REGISTRATION TRENDS Courtesy of Polk, Powersports Business readers are able to see registration trends from March 2010 to March 2012 for various vehicle segments. Polk creates monthly new and used registration statistics for ATV, dual-sport, scooter, off-highway and on-highway units (broken down by segments in each), along with total motorcycles in operation (MIO) on an annual basis. Data is available at the U.S., state, country or zip code level of geography. State requirements vary, and the numbers shown here reflect all data available in the states that require registrations. For more information on how Polk can assist you with market analysis or direct marketing, contact Jody Doublestein, account manager, at 562/505-0287 or email [email protected].
ATV
DUAL ATV
DUAL
20,000
9,000
18,000
8,000
16,000
7,000
USED
14,000
6,000
12,000
5,000
10,000
COUNT
8,000
4,000 3,000
6,000
2,000
4,000 USED
1,000
NEW
ON-HIGHWAY 180,000 USED
9,000
7,000
Mar. 2012
Jan. 2012
Feb. 2012
Dec. 2011
Oct. 2011
Nov. 2011
Sept. 2011
July 2011
Aug. 2011
June 2011
Apr. 2011
May 2011
Mar. 2011
Jan. 2011
PREPARED FOR POWERSPORTS BUSINESS PAGE 1 OF 1
©2012, R.L. POLK ALL RIGHTS RESE
120,000
6,000
COUNT
5,000 4,000
100,000 80,000
Mar. 2012
Jan. 2012
Feb. 2012
Dec. 2011
Oct. 2011
Nov. 2011
Sept. 2011
July 2011
Aug. 2011
June 2011
May 2011
Apr. 2011
Mar. 2011
Feb. 2011
Jan. 2011
Dec. 2010
Nov. 2010
Oct. 2010
Sept. 2010
Aug. 2010
July 2010
June 2010
May 2010
Mar. 2012
Feb. 2012
Jan. 2012
Dec. 2011
Nov. 2011
Oct. 2011
Sept. 2011
Aug. 2011
July 2011
June 2011
May 2011
Apr. 2011
Mar. 2011
Feb. 2011
Jan. 2011
Dec. 2010
Nov. 2010
Oct. 2010
Sept. 2010
Aug. 2010
July 2010
June 2010
0
May 2010
20,000
0
Apr. 2010
40,000
1,000
Mar. 2010
2,000
Apr. 2010
60,000
3,000
Mar. 2010
COUNT
USED
NEW 160,000 ©2012, R.L. POLK & CO. ALL RIGHTS RESERVEDcs 12323002 140,000
PREPARED FOR POWERSPORTS BUSINESS NEW PAGE 1 OF 1
12323002 cs 8,000
Feb. 2011
ON HIGHWAY
OFF HIGHWAY 10,000
Dec. 2010
Oct. 2010
Nov. 2010
Sept. 2010
July 2010
Aug. 2010
Mar. 2010
OFF-HIGHWAY
June 2010
0
Mar. 2012
Jan. 2012
Feb. 2012
Dec. 2011
Oct. 2011
Nov. 2011
Sept. 2011
July 2011
Aug. 2011
June 2011
Apr. 2011
May 2011
Mar. 2011
Jan. 2011
Feb. 2011
Dec. 2010
Oct. 2010
Nov. 2010
Sept. 2010
July 2010
Aug. 2010
June 2010
Apr. 2010
May 2010
Mar. 2010
0
Apr. 2010
2,000
May 2010
COUNT
NEW
SCOOTER SCOOTER 8000 USED
7000
NEW
6000
PREPARED FOR POWERSPORTS BUSINESS PAGE 1 OF 1
12323002 cs
COUNT
5000
©2012, R.L. POLK & CO. 12323002 cs ALL RIGHTS RESERVED
PREPARED FOR POWERSPORTS BUSINESS PAGE 1 OF 1
©2012, R.L. POLK ALL RIGHTS RESE
4000 3000 2000
Mar. 2012
Jan. 2012
Feb. 2012
Dec. 2011
Oct. 2011
Nov. 2011
Sept. 2011
July 2011
Aug. 2011
June 2011
Apr. 2011
May 2011
Mar. 2011
Jan. 2011
Feb. 2011
Dec. 2010
Oct. 2010
Nov. 2010
Sept. 2010
July 2010
Aug. 2010
June 2010
Apr. 2010
May 2010
0
Mar. 2010
1000
Source: Polk
34
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12323002 cs
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©2012, R.L. POLK & CO. ALL RIGHTS RESERVED
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
BRP dominates U.S. snow, PWC markets Looking at market share, it’s no doubt BRP is leading the pack in both the PWC and snowmobile market, however the company also has small claims in the ATV and motorcycle arenas as well. BRP’s Sea-Doo brand accounts for almost half of the PWC market, with 46 percent of share. However, Yamaha isn’t far behind, with its WaveRunners acounting for 40 percent of share. In the snowmobile segment, BRP’s SkiDoo brand is also on top, taking a 39 per-
cent share. Polaris and Arctic Cat each share about a quarter of that pie, while Yamaha grabs 10 percent of the market. Can-Am, another BRP brand, holds 10 percent of the ATV market, forth behind front runners Polaris and Honda, with 27 percent of share each, and Ymaha, which boast 16 percent. The motorcycle market, held mostly
2012
by Harley-Davidson, Can-Am doesn’t hold as much of the market, with only a 3 percent share. Harley accounts for 35 percent of that segment, followed by Yamaha and Kawasaki, tied for a distant second at 15 percent. Honda grabs 14 percent, while Suzuki has a hold on 8 percent, while five other brands and Can-Am divide the remaining 13 percent.
2012 U.S. MARKET SHARE MOTORCYCLE
ATV 2012
Triumph 1%
BMW 2% Can-Am 3%
Ducati 2%
Polaris 3%
KTM 2%
Kawasaki 6% Suzuki 8%
Harley-Davidson 35%
Suzuki 6%
Polaris 27%
Arctic Cat 8%
Can-Am 10%
Yamaha 15%
Kawasaki 15%
Honda 14%
Honda 27%
Yamaha 16%
2012
SNOWMOBILE2012
PERSONAL WATERCRAFT Honda 1%
Yamaha 10%
Kawasaki 13% BRP 39%
BRP 46%
Arctic Cat 25%
Yamaha 40% Polaris 26%
Source: Powersports Business, industry sources
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UNIT SALES
30,000
400,000
20,000
March 2007
5,000
June 2008
2009
0
First Half
2010
2011
2012
2012 SCOOTER UNIT SALES
March 2007
June 2008
2009
First Half
2010
2011
2012
2012 ATV UNIT SALES 350,000
49,231
60,000 50,000
244,366
0
10,000
319,111
100,000
15,000 4,973 6,903 3,178 3,005 2,780 2,816
103,798 85,874 56,784 54,196 60,168 60,393
200,000
121,126 133,063 60,495 49,366 50,783 49,507
300,000
15,098 14,045 15,876 17,266
25,000
297,491 254,382 258,762 266,061
500,000
21,322
600,000
28,323
2012 DUAL PURPOSE UNIT SALES 550,699 553,711
2012 MOTORCYCLE UNIT SALES
DEALER DIRECTORY
3,780 4,070 3,129 3,134 4,150 4,324
DEALERS
300,000
29,719
2007
2008
2009
First Half
2010
2011
2009
First Half 2010
2011
109,893 86,448
400,000
2007
2008
2009
2010
250,000 200,000 150,000 100,000 50,000
June
First Half 2011
2012
212,129 181,542 187,565 193,287
54,185 44,673 37,123 36,300 18,084 13,473 10,217 6,261 5,146 5,473
22,086 17,442 9,030 9,715 10,069 8,160
March
2012
350,000 300,000
60,000
0
June 2008
450,000
80,000
20,000
2007
2012 ON-HIGHWAY UNIT SALES
100,000
40,000
March
2012
2012 OFF-HIGHWAY UNIT SALES 120,000
0
51,128 36,913 27,847 20,209 17,669 17,760
16,079 14,122 18,198 19,208
June
389,765 389,709
March
50,000
0
88,825 95,175 43,166 36,325 38,865 37,368
0
100,000
74,133 59,849 42,042 39,107 41,893 43,292
10,000
150,000 65,012 49,521 30,910 28,601 23,044 24,489
3,799 4,803 2,583 2,240 4,056 4,617
9,244
20,000
200,000
3,934 3,775 3,992 3,850
17,512
30,000
166,424 125,414 103,730 109,567
250,000
40,000
March 2007
June 2008
2009
First Half 2010
2011
2012
Source: Motorcycle Industry Council
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MARKET DATA BOOK / DEALER DIRECTORY 2012
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
U.S. MOTORCYCLE UNIT SALES BY MONTH
106,072 117,599 121,126 133,063
Motorcycle unit sales saw a year-over-year increase in March, June and December, with a decrease in September.
40,000
2006
54,481
2007 2008 2009 38,627 31,500 26,450 27,197
60,000
38,339 32,045 30,135
56,784 54,196 60,168
60,495 49,366 50,783
80,000
2005
76,916 70,919
87,484
100,000
67,878 61,933 51,813
120,000
97,464 102,129 103,798 85,874
140,000
2010 2011
20,000
0
March
June
September
December
Source: Powersports Business/ Motorcycle Industry Council
ANNUAL U.S. MOTORCYCLE UNIT SALES salesfrom 2010 to 2011. Annual U.S. motorcycle sales saw a slight year-over-year jump
1,200,000
1,000,000
965,400
1,009,588
1,022,332 948,464 879,910
800,000
600,000
520,502 439,678
440,899
2010
2011
400,000
200,000
0
2004
2005
2006
2007
2008
2009
Source: Powersports Business/Motorcycle Industry Council
40
MARKET DATA BOOK / DEALER DIRECTORY 2012
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY Polaris Arctic Cat Hydrospace
WORLDWIDE PWC MARKET SHARE Yamaha has seen a significant market share increase from 2006 to 2012, while other OEMs found decreases. 100% 90%
13.24 %
15.87 %
14.62 %
15.16 %
10.12 %
13.06 %
13.72 %
80%
9.32 %
9.11 %
9.17 %
9.94 %
Honda
12.17 %
Yamaha BRP
70% 60%
Kawasaki
1.01 %
1.45 %
30.89 %
30.58 %
33.19 %
46.35 %
44.31 %
43 %
2006
2007
34.73 %
34.55 %
40.17 %
39.54 %
2009
2010
39.61 %
44.50 %
45.88 %
44.37 %
2011
2012-Q1
50% 40% 30% 20% 10% 0%
2008
Source: Statistical Surveys Inc.
WHOLESALE PRICE FLUCTUATIONS
This study done by National Powersport Auctions shows the difference in prices dealers can expect to pay at wholesale depending on the time of the year and the vehicle category. The study includes NPA sale transactions from 2007-12. For more information on the study, contact NPA’s Ryan O’Keefe at 858/413-1158. Normalized ASP PWC
PWC 130% 120% 110% 100% 90% 80% 70% 60%
Dec.
Grand Total
Nov.
Oct.
2012
Sept.
2011
Aug.
July
2010
June
2009
May
Apr.
2008
Mar.
Feb.
Jan.
2007
50%
Source:
42
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INDUSTRY CLOSE UP
UNIT SALES
ANNUAL U.S. ATV SALES
U.S. ATV SALES BY MONTH
2005
2006
2007
2008
2009
2010
2011
Source: Powersports Business/Motorcycle Industry Council
44
MARKET DATA BOOK / DEALER DIRECTORY 2012
P036x48-PSD12MDB-UnitSales.indd 44
2009
2010
0
C
101,828 97,959 93,147
2011
June
66,737
78,012 64,838 64,158 54,242
49,521
March
41,829 32,690 29,474 29,216
40,000 20,000
100,000 2004
2008
37,100 28,118 24,135 20,314
200,000
2003
2007
60,650 58,756 54,587 51,128 36,913 27,847 20,209 17,669
300,000
60,000
30,910 28,601 23,044
400,000
222,032
500,000
80,000
256,750
454,098
600,000
0
2006
100,000
321,181
700,000
2005
120,000 637,642
747,581
812,970
U.S. ATV sales were down in each of the four months of 2011 reported by the Motorcycle Industry Council. 2004
780,433
800,000
799,353
ATV unit sales continued to decrease from 2004 to 2011.
900,000
DEALER DIRECTORY
72,296 67,995 71,069 65,012
DEALERS
September
December
Source: Powersports Business/Motorcycle Industry Council
| POWERSPORTS BUSINESS |
9/7/12 5:47 PM
DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
ATV WORLDWIDE MARKET SHARE Can-Am is the only brand expected to gain market share in 2013. 100%
2%
90% 28%
28%
26%
23%
24%
25%
25%
26%
26%
2%
25%
3%
2%
21%
22%
3%
4%
4%
5%
5%
22%
21%
21%
21%
21%
9%
7%
80% 7%
70% 13%
10%
16%
20%
8%
7%
5%
40%
12%
13%
5%
4%
4%
11%
9%
9%
11%
11%
8%
8%
9%
20%
19%
18%
18%
5%
4%
4%
4%
Can-Am Yamaha
60% 50%
5%
8%
25%
12%
27%
11%
26%
10%
28%
9%
27%
9%
26%
7%
24%
6%
25%
7%
21%
9%
22%
8%
21%
8%
18%
19%
21%
22%
9%
8%
7%
7%
24%
27%
6%
6%
29%
Suzuki 29%
Polaris Kawasaki
6%
6%
Honda Arctic Cat
30% 20% 31%
29%
30%
31%
31%
30%
30%
32%
2%
3%
4%
5%
33%
30%
31%
30%
30%
30%
30%
30%
30%
6%
7%
5%
7%
7%
7%
7%
7%
8%
29%
28%
27%
26%
7%
8%
8%
8%
10% 0%
Source: Powersports Business, Wells Fargo Securities, industry sources
| POWERSPORTS BUSINESS |
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
UTV WORLDWIDE MARKET SHARE Polaris and Can-Am are expected to increase UTV market share next year.
100% 90% 80% 70%
2%
2%
3%
3%
4%
11%
10%
9%
8%
8%
11%
11%
12%
12%
12%
11%
10%
9%
12%
13%
Can-Am Yamaha
60% 50%
J. Deere Kubota 30%
36%
40%
42%
43%
Polaris
40%
Kawasaki Honda
30%
Arctic Cat
15%
14%
20% 10%
8%
14%
7%
9% 2009
13%
12%
4%
3%
3%
8%
8%
9%
9%
2010
2011
2012E
2013E
0%
Source: Powersports Business, Wells Fargo Securities, industry sources
U.S. SCOOTER SALES BY MONTH
ANNUAL U.S. SCOOTER UNIT SALES
March saw the largest increase for scooter sales in 2011.
and 2010 levels.
20,000
90,000
18,000
76,748
80,000
16,000
70,000
31,451
30,000
28,483
31,850
8,000 6,000
20,000
4,000
10,000
2,000
0
2005
2006
2007
2008
2009
2010
2011
0
March
June
2,711 3,170 2,501 2,118 1,597 1,919 1,570
10,000
40,000
3,778 4,230 4,317 2,817 2,530 2,465
12,000
50,000
9,472
14,000
54,255
3,934 3,775 3,992
54,268
5,885 7,497 9,244
56,889
3,656 3,438 3,799 4,803 2,583 2,240 4,056
60,000
17,512
Scooter sales in 2011
Scooter sales surpassed 2009
September
December
2005 2006 2007 2008 2009 2010 2011
Source: Powersports Business/Motorcycle Industry Council
46
MARKET DATA BOOK / DEALER DIRECTORY 2012
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Source: Powersports Business/Motorcycle Industry Council
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
SNOWMOBILE WORLDWIDE MARKET SHARE Market share from 2012 to 2013 is expected to remain the same. 100% 11%
8%
12%
90%
14%
16%
17%
17%
16%
34%
34%
35%
15%
17%
19%
20%
29%
28%
22%
23%
22%
27%
28%
21%
17%
16%
16%
32%
32%
32%
80% 70%
38%
40%
35%
32%
33%
31%
30%
27%
60%
27%
Yamaha Polaris BRP (Ski-Doo)
50% 40%
Arctic Cat 26%
28%
31%
31%
29%
28%
28%
29%
21%
21%
20%
33%
31%
33%
33%
31%
31%
32%
19%
19%
20%
19%
18%
33%
33%
33%
33%
19%
18%
19%
19%
30% 20% 25%
10% 0%
24%
22%
23%
22%
21%
22%
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E
Source: International Snowmobile Manufacturers Association/Wells Fargo Securitities
SNOWMOBILE RETAIL SALES Though snowmobile sales in the U.S. have decreased over the last 15 years, international sales are on the rise. 180,000 U.S.
Canadian
Other Int'l
160,000 140,000 120,000 -1 100,000 80,000 60,000 40,000 20,000 0
Source: International Snowmobile Manufacturers Association/Wells Fargo Securitities
48
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www.powersportsbusiness.com 1-800/848-6247
INSPIRING SUCCESS THROUGH MARKET INTELLIGENCE
$96.68
Average parts counter ticket for metric dealers
2008
RZR model year that was the most sought-out UTV on KBB.com
39%
BRP’s U.S. snowmobile market share
25%
Amount of V-twin dealers who rely on new units for more than half of their revenue
35%
Harley-Davidson’s U.S. motorcycle market share
266,061
New motorcycles sold in the U.S., January through June 2012
BY THE NUMBERS: NATIONAL DEALER SURVEY RESULTS DEALER BENCHMARKING DATA WHOLESALE MOTORCYCLE, ATV, UTV DATA UNIT SALES
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DEALERS
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UNIT SALES
DEALER DIRECTORY
CONTENTS
2012
MARKET DATA BOOK
& DEALER DIRECTORY
6 Editor’s column 8 14 16 18
20 26 28 29 31 32 34
DEALERS
Dealer survey Dealership revenue breakdown by size of dealership Dealership employee benefits by size of dealership Dealership workforce by size of dealership
INDUSTRY CLOSE UP
Popular wholesale vehicles and their values Average gross margin percentage on new units Average parts counter study Average repair order study Wholesale price averages by vehicle segment Dealer expense trends Used v. new sales, by segment
36 38 40 42 44 46 46 48
UNIT SALES
U.S. market share by segment 2012 first-half sales Motorcycle market PWC market ATV market UTV market Scooter market Snowmobile market
DEALER DIRECTORY
50 The most extensive list available publicly of dealers, listed alphabetically by state then city.
SPONSORS
NPA See our ad on page 2-3 www.npauctions.com
4
MARKET DATA BOOK / DEALER DIRECTORY 2012
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UNIT SALES
DEALER DIRECTORY
FROM THE EDITOR www.powersportsbusiness.com Editorial and Sales: 800.848.6247 Subscriber Service: 866.238.3237
SENIOR EdITOR: dave McMahon 763/383-4411 ([email protected]) ASSOCIATE EdITOR: Liz Hochstedler 763/383-4413 ([email protected]) ONLINE EdITOR: Mike davin 763/383-4408 ([email protected]) ASSOCIATE dIgITAL EdITOR: Christopher gerber ART dIRECTOR: dodi Vessels PROdUCTION COORdINATOR: Kelsey Houle PUbLISHINg gROUP COORdINATOR: Lori Hackett gROUP PUbLISHER: John Prusak NATIONAL ACCOUNT MANAgER Allison gruhn 763/383-4467 ([email protected]) NATIONAL ACCOUNT MANAgER Mark Rosacker 763/383-4433 ([email protected]) ASSOCIATE PUbLISHER david J. Voll 763/383-4421 ([email protected]) Production Specialist: Cherri Perschmann, digital Advertising and Marketing Manager: Jeffrey Larson, Senior Marketing Manager: Kathryn Knudson, Administrative Assistant-Audience development: Molly Sullivan, digital Media Manager: Chris Soash, digital Marketing Specialist: Kathryn benson, digital Editor: Nicholas Upton dEALER AdVISORy bOARd: Hooksett Kawasaki-Polaris, Jim Whalley; Hacker’s yamaha & Honda, Rick Hacker; Honda/Polaris of Lubbock, Morris baker; All Action Water Sports, Ray Leps
PRESIdENT: Stephen M. Hedlund SENIOR VICE PRESIdENT/dIgITAL MEdIA: Stacey Marmolejo SENIOR VICE PRESIdENT/PROdUCTION: barb Hammer SENIOR VICE PRESIdENT/AdVERTISINg SALES: Steve Schiffman VICE PRESIdENT/AUdIENCE dEVELOPMENT: Jill Anderson POWERSPORTS bUSINESS (ISSN #1522-7944) is published 15 times per year — monthly except twice in April and October and the Market data book/ dealer directory in September — by gS Media & Events (a division of good Sam Enterprises, LLC), 3300 Fernbrook Lane N #200, Minneapolis, MN 55447. Periodicals postage paid at Plymouth, MN 55447 and additional mailing offices. SUbSCRIPTION INFORMATION: Free to qualified members of the motorcycle, all-terrain vehicle, snowmobile and personal watercraft industries. Annual subscription rate is $56 per year for U.S residents, $76 for Canadian residents and $96 for residents in other countries. All paid subscriptions must be paid in advance and in U.S. funds only.. POSTMASTER: Send address changes to Powersports business, P.O. box 5858, Harlan, IA 51593-1358. CUSTOMER SERVICE: Visit www.powersportsbusiness.com, email [email protected], call 866-238-3237 or write to Powersports business, PO box 5858, Harlan, IA 51593-1358. CANAdIAN RETURN AddRESS: gS Media & Events, 4960-2 Walker Road, Windsor, Ontario N9A 6J3. Publication Sales Agreement #40012332. EdITORIAL: All manuscripts, materials, photographs and artwork submitted are at mailer’s risk and must include self-addressed envelope with sufficient postage for return. Send editorial materials to Affinity Media, 3300 Fernbrook Lane N, Suite 200, Minneapolis, MN 55447, 763/383-4400. No responsibility will be assumed for unsolicited materials. Powersports business is a registered trademark of Ehlert Publishing group, Inc. Copyright 2011 by Ehlert Publishing group, Inc. All rights reserved. Reproduction in whole or part is prohibited unless expressly authorized by publisher. REPRINTS: For more information on e-prints or reprints from Powersports business, contact bernadette Wohlman, 800/848-6247 x2464. Printed in U.S.A.
CHAIRMAN & CEO: Marcus Lemonis
6
EXECUTIVE VP: Tom Wolfe
Something for everyone Call me a data freak. I was talking with a colleague in August about the prospects for a new football season, one that brings with it another fantasy football league, or, in my case, a couple. DAVE McMAHON We reversed course a bit and began discussing the early days of fantasy baseball, when I would buy the USA Today on Tuesday to compile the American League statistics, and return to the store on Wednesday to collect the National League version in that day’s newspaper. Before wife and kids, and the ensuing evening coaching duties, I would spend hours perusing data compiled on stars of yesteryear. It’s not surprising, then, that the Market Data Book is one of the most satisfying efforts that we produce at Powersports Business. Associate Editor Liz Hochstedler and I spent the year rifling through files upon files of data from all sorts of segments of the industry. We understand that in order to help you run your business more effectively, any benchmarks that we can provide is an asset for you. Consider the Market Data Book another important piece of business intelligence. We don’t portend to sit in your seats as company owners, presidents or CEOs, but Liz and I collectively will continue to do our best to provide you with market intelligence in exchange for your time. We know you have a business to run, and your time doesn’t have a pricetag. We discovered in a recent Powersports Business survey that nearly two out of three of our readers consider themselves either an owner, president, CEO, sales manager or general manager in the powersports industry. Trust me, we take extreme pride in trying to uphold the relevance that the Market Data Book has generated since its inception by our predecessors. Success in these still-not-out-ofthe-woods-yet economic environment doesn’t come with opening the door to your business each morning. As you can see by glancing through the Dealer Direc-
MARKET DATA BOOK / DEALER DIRECTORY 2012
P006-PSD12MDB-Dave.indd 6
tory in this edition, you are now among of a select group of businesses that have weathered another storm. We learn more each day about how difficult it can be to successfully operate a business in the powersports industry. Regardless of your segment of the industry — we talk to dealers every day, enjoy the time provided by OEM executives, and are amazed at the entrepreneurial spirit of virtually all of us in the industry — our goal is for you to turn to the Market Data Book to grow your knowledge about the industry. It’s the only product of its kind in the market, and quite simply, it helps lead to investment in the industry. Often, it serves as a starting point for businesses looking to enter the segment. Liz and I have talked to noticeably more investors interested in the powersports industry this year than we did last. It’s a sign of admiration about your dealerships and powersports companies. So enjoy the stats and data like I used to do pre-Internet with my fantasy baseball teams. For your assistance, we’ve provided contact information from each of our data partners. They’re familiar names and businesses that you see in each of our editions of Powersports Business. I couldn’t begin to count the amount of hours that each of our data partners commits to assisting us with the Market Data Book, but know that, like all of us here at Powersports Business, they’re committed to providing you with data that’s most relevant to your business. If you like what you see in the Market Data Book, be sure to sign up for our inaugural State of the Industry webinar on Oct. 16 at 2 p.m. EDT. I’ll be hosting it, and it will include speakers from ADP Lightspeed, National Powersport Auctions, Polk and Spader Business Management. They will all provide insight into what you see on these pages, as well as market intelligence that will be exclusive to webinar attendees. We’ll look forward to your registration at www.powersportsbusiness. com/webinars. Dave McMahon is Senior Editor of Powersports Business. Reach him at dmcmahon@ powersportsbusiness.com or 763/383-4411. | POWERSPORTS BUSINESS |
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DEALERS
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Some dealers rely more heavily on units than others Lines carried, revenue levels play factors
10% 100% 90% 80% 70%
8% 12%
20% 1% 4% 6%
30%
40% 1% 3% 8%
17%
60%+ 5% 3% 12%
27%
20%
60%
50%
1% 9%
15%
33% 34%
29% 47%
87%
30%
Unit sales are what most dealerships were based on when they started their business. If a customer buys a unit, they’ll likely purchase gear, and there’s a chance they’ll need service down the road. But not every dealership relies heavily on unit sales when it comes to their revenue streams. An online survey of 254 dealers from 44 states and Canada by Powersports Business revealed the types of vehicles carried and the amount of revenue a dealership brings in may determine which departments they focus most on. All dealership data is based on the dealership’s 2011 performance. V-twin dealers lean more heavily on new and used unit sales than their metric and non-motorcycle-selling counterparts. Three-quarters of V-twin dealers reported that 30 percent or more of their revenue comes from new unit sales, while 37 percent said the same about pre-owned units. Conversely, only 69 percent of metric dealers said their new unit sales accounted for 30 percent or more of their revenue, and 28 percent see the same 30 percent-plus revenues from their pre-owned units. Only 58 percent of non-motorcycle dealers reported that new unit sales account for 30 percent or more of their revenue, while used units represent 30 percent or more for 28 percent of nonmotorcycle dealers. Non-motorcycle dealers rely most heavily on their service departments, as 59 percent reported that service accounts for 30 percent or more of their revenue. Non-motorcycle and metric dealers also concentrate more on their PG&A departments than V-twin dealers. Nearly 40 percent of nonmotorcycle and metric dealers reported that PG&A accounts for 30 percent or more of their revenue, while only 16 percent of V-twin dealers reported the same. Trends can also be found based on the total amount of money each dealership brings in. Those dealers who bring in $5 million or more in annual revenue look to their new unit sales the most,
An online survey of
254
dealers from 44 states and Canada
See Survey on Page 10
MARKET DATA BOOK / DEALER DIRECTORY 2012
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METRIC DEALERS’ REVENUE BREAKDOWN
40%
ASSOCIATE EDITOR
DEALER DIRECTORY
Below shows the percentage that each profit center contributed to dealers’ total revenues in 2011.
50%
BY LIZ HOCHSTEDLER
8
UNIT SALES
20% 10% 0%
19%
39%
31% 15%
12% New Unit Sales
Used Unit Sales
PG&A Sales
Service Sales
F&I Sales
V-TWIN DEALERS’ REVENUE BREAKDOWN 10% 100% 90% 80%
10% 15% 23%
50% 40%
30%
40%
50%
60%+
4% 2% 6% 4%
8% 4% 2% 12%
50%
29%
23%
70% 60%
20%
4% 2% 8%
2% 2% 2% 12%
33% 80%
27%
30% 20% 10% 0%
8%
46%
31%
33%
Used Unit Sales
PG&A Sales
17% New Unit Sales
Service Sales
F&I Sales
NON-MOTORCYCLE DEALERS’ REVENUE BREAKDOWN 10% 100% 90% 80% 70%
11% 10%
12%
0%
60%+ 11%
3% 3% 3%
9%
31% 92%
36%
21%
22% 45%
20% 10%
50%
8% 26%
27% 16%
40% 30%
30% 40% 3% 2% 7%
21%
60% 50%
20%
3% 5% 8%
26%
20% New Unit Sales
Used Unit Sales
20%
PG&A Sales
Service Sales
F&I Sales
Source: Powersports Business
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SURVEY CONTINUED FROM PAGE 8 with 86 percent saying new units accounted for 30 percent or more of their revenue. That number trickles down to the dealerships who bring in less than $1 million yearly, as only 51 percent reported the same about their new unit sales. However, those smaller dealerships rely a bit more on used units with 42 percent reporting pre-owned units account for 30 percent or more of their revenue, while
UNIT SALES
DEALER DIRECTORY
only 31 percent of those dealers with $5 million-plus in revenues said the same. PG&A numbers nearly reflected those of pre-owned units, as 41 percent of the smallest dealerships reported they make 30 percent or more of their revenue off that department, while only 27 percent of the largest dealers reported the same. The biggest disparity in this analysis comes from the service department. An astounding 70 percent of the under $1 million dealers reported that 30 percent or more of their revenue comes from the service depart-
ment, while only 13 percent of the largest dealers reported the same. Surprisingly, most of the dealers surveyed faired about the same in F&I. Only 3-6 percent in each revenue category reported that 30 percent or more of their revenues came from F&I. These revenue breakdowns vary somewhat from 2010. Most notable for dealers bringing in $1 million or less was the increase in revenue from pre-owned units. In 2011, only 19 percent reported 30 percent See Survey on Page 12
DEALER BRANDS The 254 dealers responding to the Powersports Business survey carry a number of different brands. Polaris Yamaha Honda Kawasaki Suzuki Can-Am Sea-Doo Victory Ski-Doo Arctic Cat Harley-Davidson KTM Zero KYMCO Triumph
93 91 87 75 73 51 45 43
Eton BMW Husqvarna Hyosung 0
33 30 23 23 20 19 19 18 Piaggio/Vespa/Aprilia/Moto Guzzi 17 14 12 10 10 20 30 40 50 60 70
80
90
100
NUMBER OF DEALERS
DEALER REVENUE The dealers who participated in the survey come from a variety of store sizes. More than $10 million
18%
$5-$10 million
19%
$3-$5 million
17%
$1-$3 million
26%
Less than $1 million
21% 0%
5%
10%
15%
20%
25%
30%
PERCENTAGE OF DEALERS Source: Powersports Business
10
MARKET DATA BOOK / DEALER DIRECTORY 2012
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UNIT SALES
NEW UNITS SOLD The number of units sold in 2011 varied, giving the survey a representative mix.
401 or more
32%
201-400
22%
101-200
16%
100 or less
30%
0%
5%
10%
15%
20%
25%
30%
PERCENTAGE OF DEALERS Source: Powersports Business
12
MARKET DATA BOOK / DEALER DIRECTORY 2012
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35%
DEALER DIRECTORY SURVEY CONTINUED FROM PAGE 10 or more of their revenue came from used units. The number of the $1 million or less dealers reporting other departments accounted for 30 percent or more of their revenue were: new sales, 48 percent; PG&A, 68 percent; service, 67 percent; and F&I, zero percent. In 2011, the largest dealers relied less on new units and PG&A and more on used units and service for their revenue. F&I totals for both years were equal. In 2011, dealers with $5 million or more in revenue said the departments that accounted for 30 percent or more of their revenue were: 94 percent for new units, 22 percent for used units, 30 percent for PG&A and 8 percent for service. STAFFING
Staffing trends have shifted somewhat from 2010, according to the survey. Dealers with revenues under $1 million reported having more full-time staff in their sales and service departments, and less in their
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PG&A and administrative/accounting areas. The biggest change was found in the PG&A department, where only 15 percent of these dealers reported having two or more fulltime employees. Last year 32 percent reported the same. Department sizes remained about the same for dealers with revenues of $1-3 million. The biggest change from 2010 to 2011 was a 9 percentage-point increase in the sales department for dealers employing two or more staffers. This year 63 percent reported having two or more salespeople. Like the dealers with the smallest revenues, those with $3-5 million in annual revenue also made the biggest change by decreasing its number of PG&A employees. Half of those dealers reported having three or more employees in PG&A in 2011; in 2010 that number was 61 percent. The largest dealerships, those
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UNIT SALES
bringing in $5 million or more annually, added to their administrative staffs, while most other departments remained at about the same staffing levels. More than half — 57 percent — of those dealers reported having three or more employees in administration and accounting, while last year only 46 percent reported the same. Despite revenue size, however, the 2012 survey showed a majority of dealers in each revenue category employ only one full-time F&I staffer. That was reported by 95 percent of dealers with revenues under $1 million, 82 percent with revenues of $1-3 million, 81 percent in the $3-5 million category and 56 percent of those bringing in $5 million-plus. Each category of dealers, except the $1-3 million group, also had a larger number of poll-takers reporting they rely on seasonal part-timers. PSB
DEALER DIRECTORY NUMBER OF STORES A large majority of survey respondents run only one dealership. 4 or more locations 4%
2-3 locations 15%
1 location 81%
Source: Powersports Business
MARKET DATA BOOK / DEALER DIRECTORY 2012
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
Dealers with annual revenue of less than $1 million
Dealers with annual revenue of $1 million - $3 million
DEALERSHIP REVENUE BREAKDOWN
DEALERSHIP REVENUE BREAKDOWN
Dealers in the smallest revenue category relied heavily on service.
10% 100% 90% 80%
8% 5%
8% 2% 10%
40%
50%
25%
34%
9%
70%
11%
60%
94%
25%
18%
35%
10%
11% New Unit Sales
Used Unit Sales
PG&A Sales
Service Sales
F&I Sales
Dealers with annual revenue of $3 million - $5 million
0%
100% 90% 80% 70%
12% 10%
40% 2% 4%
18% 30%
50%
2% 6% 16%
3% 3% 10%
23%
41%
48%
15%
100% 90%
14% 14%
16%
10% Used Unit Sales
PG&A Sales
85%
46%
20%
30%
1% 7%
1% 8%
23%
18%
40%
10%
18% Used Unit Sales
PG&A Sales
F&I Sales
Service Sales
F&I Sales
60%+ 1% 2% 10%
0%
2% 1% 2% 11%
24% 36%
48% 83%
34%
20%
38%
50%
40% 30%
49%
8%
Service Sales
32%
50%
25%
New Unit Sales
92% 55%
The dealers bringing in the highest revenues concentrated on new unit sales more than their counterparts.
60%
30%
0%
26%
New Unit Sales
80%
38%
10%
3% 5%
10%
70%
40%
20%
7% 5%
21%
10%
29%
27%
22%
60%+
19%
60%+
18%
60% 50%
2% 2%
30%
22%
50%
DEALERSHIP REVENUE BREAKDOWN
In this category, dealers gained the most revenue from new unit sales, followed by PG&A. 20%
40%
Dealers with annual revenue of more than $5 million
DEALERSHIP REVENUE BREAKDOWN
10%
30%
5% 8%
18%
20%
26%
10% 0%
50%
30%
35%
13%
20%
2% 7% 2%
40%
30% 20%
6%
80%
14%
22%
100% 90%
9%
19% 14%
10%
6%
9%
Though dealers in this category focued mostly on new unit sales, the service department was also very important.
60%+
9%
22%
50% 40%
30%
19%
70% 60%
20%
DEALER DIRECTORY
55% 33%
9% 4% New Unit Sales
Used Unit Sales
25% PG&A Sales
Service Sales
F&I Sales
Source: Powersports Business
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UNIT SALES
Dealers with annual revenue of less than $1 million
Dealers with annual revenue of $1 million - $3 million
FULL-TIME EMPLOYEE BENEFITS
FULL-TIME EMPLOYEE BENEFITS
A third of dealers in the smallest revenue category offer other benefits, such as vacation time, discounts, bonuses and more. 50%
More than one-third of dealers in this category offer health, dental and/or retirement benefits. 100%
47%
45%
90%
40%
80%
33%
35%
60%
25%
50%
20%
20%
5%
10% 0%
Health
Dental
Retirement
Profit Sharing
Other
Dealers with annual revenue of $3 million - $5 million
100%
91% 90%
80%
80%
70%
70%
60%
60%
Dental
Retirement
Profit Sharing
Other
94%
69%
50%
45% 36%
45%
41%
40% 30%
30% 20%
20%
12% 6%
10% 0%
Health
Nearly all the dealers in the largest revenue category offer health insurance, and most offer retirement benefits.
90%
40%
9%
FULL-TIME EMPLOYEE BENEFITS
Only 9 percent of dealers in this category don’t offer health insurance.
50%
22%
Dealers with annual revenue of more than $5 million
FULL-TIME EMPLOYEE BENEFITS
100%
38%
30%
11%
10%
0%
36%
40%
16%
14%
89%
70%
30%
15%
DEALER DIRECTORY
Health
Dental
Retirement
Profit Sharing
Other
10% 0%
3% Health
Dental
Retirement
Profit Sharing
Other
Source: Powersports Business
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DEALERS
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UNIT SALES
Dealers with annual revenue of less than $1 million
Dealers with annual revenue of $1 million - $3 million
DEALERSHIP WORKFORCE
DEALERSHIP WORKFORCE
The smallest dealerships added the most staff to their sales and service departments. 1 100%
8%
90% 80%
2
3
4
5
4% 4% 7%
11% 11%
1
6%
7%
100%
3% 2%
90%
13%
80%
28%
60%
45%
50%
94%
86%
40%
93%
34%
Service
1 2% 7% 14%
PG&A
Admin/Accounting
F&I
2
3
4 8%
5
45%
36%
30%
79%
82%
32% 42%
37%
0%
2% 10%
19%
3
4
F&I
60%
81%
33%
40%
18%
40%
10%
10% Admin/Accounting
F&I
0%
24%
19%
30%
20%
34% 14% 7% Sales
32%
76% 14%
20%
10%
7% 13%
28%
66%
26%
PG&A
6+ 1%
50%
30%
5
13%
90% 80%
22%
Service
2
70%
40%
Sales
Admin/Accounting
Dealers with annual revenue of more than $5 million
1
29%
12%
PG&A
100%
12%
20%
Service
The dealers producing the most revenue added to their administrative staffs in 2011.
20%
38%
Sales
6+
24%
26%
50%
0%
18%
DEALERSHIP WORKFORCE
22%
70%
10%
17%
12%
10%
Sales
These dealers decreased their staff levels in PG&A.
30%
8%
6+ 3%
10%
DEALERSHIP WORKFORCE
60%
5
50%
20%
Dealers with annual revenue of $3 million - $5 million
80%
4 2% 3% 5%
16%
30%
10%
90%
3
40%
65%
20%
100%
2
5%
70%
60%
0%
Dealers in this category increased the sizes of their sales departments from 2010.
6+
70%
30%
DEALER DIRECTORY
14% 8% 2% Service
56%
14% 12% 1% PG&A
9% Admin/Accounting
F&I
Source: Powersports Business
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DEALER DIRECTORY
WHOLESALE DATA REPORT: UTV The following is a list of the top 50 used UTVs that consumers viewed from May 2011-August 2012 on the Kelley Blue Book website, plus how these popular models have changed in value during that time period. The Kelley Blue Book wholesale value is what a dealer should consider paying for a vehicle at auction, including any transportation and reconditioning fees. For this value, the vehicle should be clean, fully reconditioned and have acceptable mileage. It does not take into consideration any aftermarket products that have been placed on the vehicle. For more information on this list, contact Matt Eaken of Kelley Blue Book at 949/267-4461.
RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50
YEAR 2008 2006 2007 2007 2007 2008 2008 2006 2009 2004 2005 2009 2010 2010 2005 2007 2011 2006 2009 2008 2009 2004 2006 2007 2009 2007 2010 2005 2009 2011 2009 2003 2009 2010 2008 2008 2011 2008 2006 2007 2006 2006 2002 2008 2007 2008 2008 2009 2011 2011
MAKE Polaris Yamaha Polaris Yamaha Yamaha Polaris Yamaha Polaris Polaris Yamaha Yamaha Polaris Polaris Polaris Polaris Polaris Polaris Yamaha Yamaha Polaris Polaris Polaris Yamaha Yamaha Polaris Yamaha Polaris Polaris Yamaha Polaris Yamaha Polaris Polaris Polaris Kawasaki Kawasaki Polaris Yamaha Polaris Arctic Cat Polaris Arctic Cat Polaris Polaris Arctic Cat Yamaha Arctic Cat Yamaha Polaris Can-Am
MODEL Ranger RZR Rhino 660 4x4 Ranger XP Rhino 660 4x4 SE Rhino 660 4x4 Ranger XP Rhino 700 4x4 Ranger XP Ranger RZR 760 Rhino 660 4x4 Rhino 660 4x4 Ranger RZR 760 S Ranger RZR 800 S Ranger RZR 800 Ranger 4x4 Ranger 4x4 EFI Ranger RZR 800 Rhino 450 4x4 Rhino 700 4x4 Ranger 4x4 Ranger XP Ranger 4x4 Rhino 660 4x4 SE Rhino 450 4x4 Ranger RZR 760 LE Rhino 660 4x4 Sport Ranger XP 800 Ranger XP 700 4x4 Rhino 450 4x4 Ranger RZR S 800 LE Rhino 700 4x4 Special Edition Ranger 4x4 Ranger 4x4 Ranger RZR 4 Robby Gordon Edition KRF750A Teryx 750 4x4 KRF750D Teryx 750 4x4 LE Ranger RZR S 800 Rhino 450 4x4 Ranger 4x4 650 H1 Prowler Ranger 4x4 EFI 650 H1 Prowler XT Ranger 4x4 Ranger Crew 650 H1 Prowler XT Rhino 700 4x4 Sport Edition Prowler XT 4x4 Auto Rhino 700 4x4 Sport Edition Ranger RZR XP 900 Commander 1000 X
TOTAL PAGE VIEWS 10,537 7,213 4,134 4,040 4,031 4,021 4,009 3,987 3,905 3,854 3,831 3,171 3,073 2,975 2,931 2,653 2,596 2,563 2,500 2,436 2,314 2,260 2,221 2,173 2,155 2,024 2,015 1,825 1,803 1,750 1,696 1,654 1,539 1,496 1,471 1,460 1,459 1,455 1,450 1,389 1,349 1,313 1,261 1,256 1,209 1,193 1,189 1,171 1,166 1,141
MAY-AUG. 2011 WHOLESALE $6,650 $5,050 $5,700 $5,600 $5,550 $6,000 $5,900 $5,350 $7,250 $4,200 $4,600 $8,800 $9,500 $7,600 $4,100 $4,925 $7,700 $4,075 $6,400 $5,350 $6,900 $3,750 $5,100 $4,450 $7,800 $6,150 $7,000 $4,850 $5,250 $9,000 $6,750 $3,450 $5,800 $9,800 $5,300 $5,500 *$8,400 $4,825 $4,500 $4,700 $4,525 $4,475 $3,175 $7,200 $5,050 $6,750 $5,500 $7,300 *$10,600 $10,100
MAY-AUG. 2012 WHOLESALE $6,050 $4,800 $5,650 $5,350 $5,300 $6,000 $5,550 $5,150 $6,550 $4,050 $4,400 $7,450 $8,100 $7,100 $4,025 $4,850 $7,650 $4,150 $6,000 $5,300 $6,700 $3,700 $4,850 $4,550 $6,750 $5,850 $6,450 $4,700 $5,350 $8,850 $6,250 $3,400 $5,700 $9,500 $5,300 $5,500 $8,350 $4,950 $4,400 $4,175 $4,425 $4,325 $3,125 $6,550 $4,725 $6,250 $5,150 $6,800 $10,300 $9,200
% CHANGE -9.0% -5.0% -0.9% -4.5% -4.5% 0.0% -5.9% -3.7% -9.7% -3.6% -4.3% -15.3% -14.7% -6.6% -1.8% -1.5% -0.6% 1.8% -6.3% -0.9% -2.9% -1.3% -4.9% 2.2% -13.5% -4.9% -7.9% -3.1% 1.9% -1.7% -7.4% -1.4% -1.7% -3.1% 0.0% 0.0% -0.6% 2.6% -2.2% -11.2% -2.2% -3.4% -1.6% -9.0% -6.4% -7.4% -6.4% -6.8% -2.8% -8.9%
*Value is from September through December 2011 edition (first time value published)
20
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INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
WHOLESALE DATA REPORT: ATV The following is a list of the top 50 used ATVs that consumers viewed from May 2011-August 2012 on the Kelley Blue Book website, plus how these popular models have changed in value during that time period. The Kelley Blue Book wholesale value is what a dealer should consider paying for a vehicle at auction, including any transportation and reconditioning fees. For this value, the vehicle should be clean, fully reconditioned and have acceptable mileage. It does not take into consideration any aftermarket products that have been placed on the vehicle. For more information on this list, contact Matt Eaken of Kelley Blue Book at 949/267-4461.
RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 22
YEAR 2005 2005 2004 2000 2005 2007 2005 2002 2005 2006 2001 2007 2003 2006 2005 2002 2004 2005 2005 2004 2007 2003 2008 1999 2003 2008 2004 2002 2003 2007 2004 2007 2001 2007 2002 2004 2004 2006 2002 2006 2008 2004 2006 2003 2007 2001 2007 2003 2005 2008
MAKE Honda Polaris Polaris Polaris Honda Honda Yamaha Polaris Yamaha Yamaha Yamaha Yamaha Suzuki Yamaha Yamaha Yamaha Yamaha Honda Kawasaki Honda Honda Honda Kawasaki Polaris Polaris Honda Yamaha Polaris Yamaha Yamaha Polaris Honda Polaris Polaris Honda Polaris Suzuki Polaris Yamaha Polaris Polaris Polaris Honda Polaris Honda Honda Honda Honda Yamaha Polaris
MODEL TRX450R Sportsman 500 4x4 Sportsman 500 4x4 Sportsman 500 4x4 TRX650FA Rincon 650 TRX400EX YZF450 Sportsman 500 4x4 660R Raptor 660 Raptor 700R YFM660R Raptor 660 Grizzly 700 4x4 LT-Z400F Quadsport Z400 YFZ450 Grizzly 660 4x4 YFM660F Grizzly 660 4x4 Grizzly 660 4x4 TRX400EX KVF750-A1 Brute Force 750 4x4i TRX400EX Sportrax 400 TRX680FA Rincon 680 TRX650FA Rincon 650 KFX450R Sportsman 500 Sportsman 700 4x4 TRX420FE Rancher ES 4x4 YFZ450 Sportsman 700 4x4 YFM 660R Raptor 660R Raptor 700R Sportsman 400 4x4 TRX450ER Electric Start Sportsman 500 4x4 Sportsman 500 EFI Standard TRX400EX Sportsman 700 4x4 LT-Z 400 Quadsport 400 Sportsman 500 HO EFI YFM660R Raptor 660 Sportsman 800 EFI Sportsman 800 EFI Sportsman 700 4x4 EFI TRX350FE Rancher ES 4x4 Predator 500 TRX420FE Rancher ES 4x4 TRX400EX TRX250EX Sportrax TRX400EX Sportrax 400 Kodiak 450 4x4 Sportsman 500 HO
MARKET DATA BOOK / DEALER DIRECTORY 2012
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TOTAL PAGE VIEWS 9,861 9,554 8,816 7,532 7,238 6,979 6,976 6,963 6,781 6,760 6,593 6,460 6,386 6,197 6,151 6,070 6,049 6,030 5,985 5,852 5,846 5,779 5,700 5,572 5,562 5,501 5,496 5,467 5,454 5,340 5,334 5,323 5,211 5,191 5,120 5,116 5,058 4,997 4,996 4,932 4,932 4,882 4,821 4,776 4,770 4,768 4,721 4,712 4,710 4,618
MAY-AUG. 2011 WHOLESALE $2,110 $2,850 $2,600 $1,800 $3,100 $2,020 $2,250 $2,140 $2,070 $2,760 $1,550 $3,850 $1,600 $2,500 $2,890 $2,190 $2,610 $1,650 $2,790 $1,520 $3,750 $2,560 $2,760 $1,680 $2,520 $3,150 $2,050 $2,320 $1,760 $3,075 $2,260 $2,770 $2,050 $3,250 $1,340 $2,730 $1,710 $3,225 $1,650 $3,700 $4,300 $2,750 $2,480 $1,560 $2,830 $1,260 $1,540 $1,420 $2,570 $3,600
MAY-AUG. 2012 WHOLESALE $1,990 $2,780 $2,550 $1,800 $2,960 $1,950 $2,030 $2,140 $1,860 $2,470 $1,410 $3,525 $1,500 $2,240 $2,800 $2,140 $2,560 $1,600 $2,710 $1,480 $3,550 $2,470 $2,700 $1,680 $2,440 $3,125 $1,890 $2,250 $1,610 $2,750 $2,240 $2,490 $1,970 $3,175 $1,290 $2,670 $1,620 $3,050 $1,510 $3,625 $4,250 $2,690 $2,410 $1,440 $2,810 $1,210 $1,490 $1,380 $2,460 $3,200
% CHANGE -5.7% -2.5% -1.9% 0.0% -4.5% -3.5% -9.8% 0.0% -10.1% -10.5% -9.0% -8.4% -6.3% -10.4% -3.1% -2.3% -1.9% -3.0% -2.9% -2.6% -5.3% -3.5% -2.2% 0.0% -3.2% -0.8% -7.8% -3.0% -8.5% -10.6% -0.9% -10.1% -3.9% -2.3% -3.7% -2.2% -5.3% -5.4% -8.5% -2.0% -1.2% -2.2% -2.8% -7.7% -0.7% -4.0% -3.2% -2.8% -4.3% -11.1%
| POWERSPORTS BUSINESS |
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INDUSTRY CLOSE UP
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DEALER DIRECTORY
WHOLESALE DATA REPORT: MOTORCYCLE The following is a list of the top 50 used motorcycles that consumers viewed from May 2011-August 2012 on the Kelley Blue Book website, plus how these popular models have changed in value during that time period. The Kelley Blue Book wholesale value is what a dealer should consider paying for a vehicle at auction, including any transportation and reconditioning fees. For this value, the vehicle should be clean, fully reconditioned and have acceptable mileage. It does not take into consideration any aftermarket products that have been placed on the vehicle. For more information on this list, contact Matt Eaken of Kelley Blue Book at 949/267-4461.
RANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 24
YEAR 2007 2006 2007 2009 2006 2007 2008 2007 2006 2008 2007 2005 2005 2005 2008 2007 2003 2008 2007 2005 2009 2006 2006 2007 2004 2003 2008 2005 2003 2006 2006 2003 2007 2008 2004 2003 2007 2007 2009 2009 2004 2003 2008 2006 2009 2001 2006 2002 2009 2007
MAKE Suzuki Suzuki Yamaha Kawasaki Honda Honda Kawasaki Kawasaki Yamaha Honda Harley-Davidson Honda Harley-Davidson Yamaha Yamaha Kawasaki Honda Suzuki Suzuki Suzuki Yamaha Harley-Davidson Honda Harley-Davidson Yamaha Yamaha Harley-Davidson Kawasaki Harley-Davidson Harley-Davidson Harley-Davidson Honda Kawasaki Honda Harley-Davidson Honda Harley-Davidson Yamaha Honda Harley-Davidson Suzuki Harley-Davidson Harley-Davidson Suzuki Harley-Davidson Honda Honda Honda Kawasaki Harley-Davidson
TOTAL MODEL PAGE VIEWS GSX-R600 47,847 GSX-R600 39,537 YZF-R6 39,096 EX250J Ninja 250R 38,674 CBR600RR 35,663 CBR600RR 35,077 EX250J Ninja 250R 33,385 ZX600P Ninja ZX-6R 31,807 YZF-R6 31,513 CBR600RR 29,900 FLHTCU Electra Glide Ultra Clsc 27,978 CBR600RR 27,794 XLC Sportster 1200 Custom 27,598 YZF-R6 27,298 YZF-R6 26,763 EX250F Ninja 250R 26,716 CBR600RR 26,625 GSX-R600 26,490 GSX-R750 26,350 GSX-R600 26,310 YZF-R6 25,771 XLC Sportster 1200 Custom 24,568 CBR1000RR 23,507 FLHX Street Glide 23,274 YZF-R6 22,411 YZF-R6 22,131 FLHTCU Electra Glide Ultra Clsc 21,695 ZX636-C1 Ninja ZX-6R 21,308 FLSTF Fatboy Softail 21,186 FLHX Street Glide 21,139 FLHTCUI Electra Glide Ultra Clsc 21,082 VT750DC Shadow 750 Spirit 21,058 EX650A Ninja 650R 20,943 CBR1000RR 20,839 XLC Sportster 1200 Custom 20,743 VT750CD Shadow 750 Ace Deluxe 20,730 XL1200C Sportster 1200 Custom 20,681 YZF-R1 20,543 CBR600RR 20,500 FLHX Street Glide 20,262 GSX-R600 20,245 FLSTC Heritage Softail Classic 20,237 FLHX Street Glide 20,236 GSX-R1000 20,097 FLHTCU Electra Glide Ultra Clsc 20,059 CBR600F4i 19,459 VTX1300C 18,937 CBR600F4i 18,930 EX650C Ninja 650R 18,866 FLSTC Heritage Softail Clsc 18,702
MARKET DATA BOOK / DEALER DIRECTORY 2012
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MAY-AUG. 2011 WHOLESALE $4,025 $3,575 $4,375 $2,190 $4,050 $4,750 $1,960 $3,900 $3,875 $5,100 $13,800 $3,625 $4,450 $3,350 $4,950 $1,760 $2,920 $4,850 $4,950 $3,200 $5,600 $4,750 $4,775 $13,600 $2,970 $2,600 $15,100 $3,150 $8,900 $11,400 $12,200 $2,300 $2,590 $5,900 $4,250 $2,360 $5,350 $5,700 $5,650 $15,400 $3,000 $9,250 $14,800 $5,000 $17,300 $2,030 $4,350 $2,240 $3,350 $12,100
MAY-AUG. 2012 WHOLESALE $4,250 $3,475 $4,050 $2,080 $3,725 $4,225 $1,940 $3,950 $3,550 $4,775 $12,200 $3,300 $4,100 $3,050 $4,575 $1,600 $2,810 $5,200 $4,725 $3,000 $5,150 $4,400 $4,625 $12,900 $2,730 $2,470 $14,500 $2,850 $8,200 $10,800 $11,500 $2,220 $2,460 $5,600 $3,900 $2,460 $4,800 $5,350 $5,400 $14,700 $2,760 $7,850 $13,900 $4,925 $16,000 $1,920 $4,150 $2,090 $3,275 $10,700
% CHANGE 5.6% -2.8% -7.4% -5.0% -8.0% -11.1% -1.0% 1.3% -8.4% -6.4% -11.6% -9.0% -7.9% -9.0% -7.6% -9.1% -3.8% 7.2% -4.5% -6.3% -8.0% -7.4% -3.1% -5.1% -8.1% -5.0% -4.0% -9.5% -7.9% -5.3% -5.7% -3.5% -5.0% -5.1% -8.2% 4.2% -10.3% -6.1% -4.4% -4.5% -8.0% -15.1% -6.1% -1.5% -7.5% -5.4% -4.6% -6.7% -2.2% -11.6%
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Gross margins on V-twin unit sales take a hit Steady increase shown in both parts and service
AVERAGE PARTS COUNTER INVOICE MAP A - METRIC
BY DAVE McMAHON
$95.49 / $106.43
SENIOR EDITOR
+11%
An analysis of motorcycle sales metrics over the past six years by ADP Lightspeed shows steady increases in both parts and service, but substantial decreases in major unit gross margin. These trends hold true in all six regions of the country. Three sales metrics were selected for study — one in each of the three major dealership departments: Average Parts Counter Ticket Amount; Average Service Repair Order Amount; and Gross Margin Percentage for new major unit sales. The report is divided by V-twin and metric in six regions of the country and covers the years 2006 through the first half of 2012. A total of $44 billion dollars in included in the study. “We can see [in Chart A on Page 30] that the average counter ticket for all six years has climbed for both V-twin and metric, but there was a time in 2009-10
MAP B - V-TWIN
$78.70 / $92.81
+9%
+10%
$89.74/ $96.98
+15%
+8%
+1%
+12%
+5%
+7% $95.75 / $102.36
$97.86 / $105.31 $87.54 / $96.50
$89.55 / $103.27
$98.37 / $105.07
$84.79/ $92.02
+7%
+18%
+8%
2006/2012
$87.11 / $98.00
$101.15 / $102.49
$96.19 / $100.72
Source:
where each dropped below the previous year,” according to ADP Lightspeed senior analyst and Powersports Business columnist Hal Ethington. “Metric ended with an 11 percent gain over 2006 ($87 up to $97), and V-twin climbed 7 percent from $95 to $102. An average dealership will have about 2,000 invoices per month, so these increases in average ticket alone bring an additional $168,000 per year into the dealership.” The change in Average Repair Order revenue is noted in Chart B on Page 30. Both V-twin and metric have climbed, but metric gained 34 percent (a $72 gain from $211 to $283) while V-twin increased 19 percent
MAJOR UNIT GROSS MARGIN – METRIC
(up $64 from $332 to $396). The difference between the average repair order revenue between two types of dealerships remains unchanged though the years. “We see a dramatic change in major unit Gross Margin [in Chart C on Page 30],” Ethington said. “We found that V-Twin margin fell to a six-year low in 2011 when it posted an average of 14 percent in margin. That same year, metric dealers were getting 9 percent, with a more stable market than realized in the V-twin field. That stable market has shown remarkable resilience, varying only two See Gross margin on Page 30
MAJOR UNIT GROSS MARGIN – V-TWIN
MU GMnearly Metric the same from Gross margin on major units was 2011-12 for metric dealers.
V-twin dealers saw an increase in major unit gross margin from 2011-12.
12%
25%
MU GM V-Twin 10.7%
10.3%
10.7% 9.5%
10%
8.9%
20.5%
9.6% 20%
8.7%
19.6%
19.0%
8%
15.2% 15%
14.9%
15.2% 13.7%
6% 10%
4% 5%
2% 0%
2006
2007
2008
2009
2010
2011
2012
0%
2006
2007
2008
2009
2010
2011
2012
Source:
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MARKET DATA BOOK / DEALER DIRECTORY 2012
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INDUSTRY CLOSE UP
UNIT SALES
AVERAGE PARTS COUNTER TICKET – METRIC
DEALER DIRECTORY
AVERAGE PARTS COUNTER TICKET – V-TWIN
Parts counter tickets continued to climb in 2012. Parts Metric
Parts V-Twin
$98
$96.68
$96
$
$104 $101.92
$95.11
$102
$
$93.33
$94
$92.71
$92.23
$100 $98.33
$92
$
$98
$89.79
$90
$96.68 $95.94 $96
$88
M s
Parts counter tickets for V-twin dealers reached $101.92, up $3.59 from 2011.
$
$94.90
$86.76
$93.55
$94
$86
$93.12
$
$92
$84
$90
$82
$88
$80 2006
2007
2008
2009
2010
2011
2012
2006
2007
2008
2009
2010
2011
2012
Source:
28
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INDUSTRY CLOSE UP
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AVERAGE REPAIR ORDER AMOUNT – METRIC
DEALER DIRECTORY
AVERAGE REPAIR ORDER AMOUNT – V-TWIN
Metric dealer’s repair order amounts have increased for seven years straight.
V-twin dealers improved by more than $7, or 1.84 percent, year-over-year.
RO Metric
RO V-Twin
$300 $262.16
$268.97
$279.14
$283.23
$244.66
$250
$420 $395.99
$400
$230.46 $211.43
$388.83
$380
$200
$374.49
$374.90
2009
2010
$356.51
$360
$150 $340
$100
$333.53
$320
$50
$0
$331.94
$300
2006
2007
2008
2009
2010
2011
2012
$280
2006
2007
2008
2011
2012
Source: For more information on the ADP Lightspeed study, contact Dave Johnson at 801/521-0300 or visit www.adplightspeed.com/dataservices
| POWERSPORTS BUSINESS |
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UNIT SALES
GROSS MARGIN CONTINUED FROM PAGE 26
AVERAGE PARTS COUNTER TICKET
AVERAGE PRICE PER REPAIR ORDER
$103 2006/2012
$202.14 / $268.49 $204.55 / $267.38
+45%
CHART A
$102
Metric
V-Twin
$101 $99
MAP C - METRIC $227.36 / $329.08
DEALER DIRECTORY
Years 2006-12, $44 billion in sales in the U.S.
Avg Parts Ticket
DEALERS
$96
$95 $93
$95
$93 $92
$93
$85
$93 $90
$87
+35%
$97
$94
$89
+31%
+22%
$95
$98
$97
$91
+33% +47%
$97
$87 2006
2007
2008
2009
2010
2011
2012
$269.24 / $328.56 $209.95 / $283.27
$192.55 / $282.35
MAP D - V-TWIN $360.55 / $411.33
AVERAGE REPAIR ORDER REVENUE
CHART B
Years 2006-12, $44 billion in sales in the U.S.
$314.46 / $401.34 $237.33 / $368.62
+14%
$450
+55% +7%
+12%
$389.53 / $416.90 $348.11 / $399.60
$346.97 / $388.05
$400 Avg Repair Order
+15%
Metric
V-Twin
+28%
$374 $357
$350
$332
$334
$300
Source:
$262
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MARKET DATA BOOK / DEALER DIRECTORY 2012
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$283
$279
$269
$245
$250
$230 $211
$200
2006
2007
2008
2009
2010
2011
AVERAGE MAJOR UNIT GROSS MARGIN
2012
CHART C
Years 2006-12, $44 billion in sales in the U.S. 22%
21% 20%
20%
V-Twin
Metric
19%
18% Avg New Unit Margin
points in the six year period (11 percent down to 9 percent, back to 10 percent). The two markets were separated by 10 percentage points in 2006, and that distance was closed to only 5 percentage points by 2012.” The study also analyzes the difference between regions of the U.S. for the same data points. Maps A through D show these same three trends, but the data has been separated into six U.S. regions for both metric and V-twin dealers. Maps A and B on Page 26 show the net change between 2006 and 2012 for Average Parts Counter Invoice. The Midwest region has risen from $79 to $92, or an increase of 18 percent, the largest increase among the regions. California Metric dealers rose only 8 percent in that same period. Map B presents the change in Regional Average Parts invoice for V-twin dealers. The Midwest has gained the most, up 15 percent from $90 to $103. The region showing least growth is the South, with only 5 percent change. Repair orders are presented in maps C and D. Among metric dealers, the West region showed the greatest increase at 47 percent. A gain of 55 percent was posted for V-twin dealers in the Northeast. The California region showed the lowest gain in Average Repair Order for both the metric and the V-twin markets. PSB
$396
$389
$375
16%
15%
14%
14% 12%
15%
15%
11%
10%
11%
10%
9%
10%
10%
2011
2012
9%
8% 6%
2006
2007
2008
2009
2010
Source:
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DEALER DIRECTORY
WHOLESALE PRICE FLUCTUATIONS
This study done by National Powersport Auctions shows the difference in prices dealers can expect to pay at wholesale depending on the time of the year and the vehicle category. The study includes NPA sale transactions from 2007-2012. For more information on the study, contact NPA’s Ryan O’Keefe at 858/413-1158. Normalized ASP
CRUISERS
SPORT BIKES
Cruiser
120%
120%
110%
110%
100%
100%
90%
90%
80%
80%
70%
70%
60%
Sport
60%
Dec.
Grand Total
Nov.
Oct.
Sept.
2012
Aug.
2011
July
2010
June
2009
May
2008
Apr.
Feb.
Jan.
Dec.
Nov.
2007
50%
Mar.
Grand Total
Oct.
2012
Sept.
2011
Aug.
June
May
2010
July
2009
Apr.
Mar.
2008
Feb.
Jan.
2007
50%
Normalized ASP
Normalized ASP
MOTOCROSS BIKES
ATV UTILITY
MX
Normalized ASP ATV-Utility
130%
120%
120%
110%
110% 100%
100%
90%
90%
80%
80%
70%
70%
60%
60% Dec.
Grand Total
Nov.
Oct.
2012
Sept.
2011
Aug.
July
2010
June
May
2009
Apr.
2008
Mar.
Feb.
2007
50%
Jan.
Dec.
Grand Total
Nov.
Oct.
2012
Sept.
Aug.
2011
July
May
2010
June
2009
Apr.
Mar.
Jan.
50%
2008
Feb.
2007
Normalized ASP
ATV SPORT
ATV SIDE-BY-SIDE ATV-Side by Side
Normalized ASP ATV-Sport
120% 120%
110%
110%
100% 100%
90%
90%
80%
80%
70%
70%
60% Dec.
Grand Total
Nov.
Oct.
2012
Sept.
2011
Aug.
July
2010
June
May
2009
Apr.
2008
Mar.
2007
50%
Feb.
Dec.
Grand Total
Nov.
Oct.
2012
Sept.
2011
Aug.
July
2010
June
May
2009
Apr.
2008
Mar.
Feb.
50%
Jan.
2007
Jan.
60%
Source: | POWERSPORTS BUSINESS |
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INDUSTRY CLOSE UP
UNIT SALES
DEALERSHIP PERSONNEL EXPENSE
E
DEALER DIRECTORY
DEALERSHIP FLOORPLAN EXPENSE
Dealership personnel expense as a percent of gross profit dropped below 50 percent.
Floorplan expenses as a percent of gross profit dropped in 2011.
Personnel Expense
Floorplan Interest Expense
54
7
53
6
51 50 49 48
5
Percent of Gross Profit
Percent of Gross Profit
Percent of Gross Profit
52
4 3 2
47 1
46 45
2004
2005
2006
2007
2008
2009
2010
2011
0
2004
2005
2006
2007
2008
2009
2010
2011
Source: Spader Business Management
1
32
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALERSHIP ADVERTISING EXPENSE
DEALER DIRECTORY
DEALERSHIP NET PROFIT
Advertising expenses as a percent of gross profit has decreased for three years straight.
Net profit as a percentage of Netsales Profit %inof2011 Sales surpassed the previous seven years. 4
6
3.5
5 Net Profit % of Sales
Percent of Gross Profit
3
4 3 2
2.5 2 1.5 1
1 0
0.5
2004
2005
2006
2007
2008
2009
2010
2011
0
2004
2005
2006
2007
2008
2009
2010
2011
Source: Spader Business Management
| POWERSPORTS BUSINESS |
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
REGISTRATION TRENDS Courtesy of Polk, Powersports Business readers are able to see registration trends from March 2010 to March 2012 for various vehicle segments. Polk creates monthly new and used registration statistics for ATV, dual-sport, scooter, off-highway and on-highway units (broken down by segments in each), along with total motorcycles in operation (MIO) on an annual basis. Data is available at the U.S., state, country or zip code level of geography. State requirements vary, and the numbers shown here reflect all data available in the states that require registrations. For more information on how Polk can assist you with market analysis or direct marketing, contact Jody Doublestein, account manager, at 562/505-0287 or email [email protected].
ATV
DUAL ATV
DUAL
20,000
9,000
18,000
8,000
16,000
7,000
USED
14,000
6,000
12,000
5,000
10,000
COUNT
8,000
4,000 3,000
6,000
2,000
4,000 USED
1,000
NEW
ON-HIGHWAY 180,000 USED
9,000
7,000
Mar. 2012
Jan. 2012
Feb. 2012
Dec. 2011
Oct. 2011
Nov. 2011
Sept. 2011
July 2011
Aug. 2011
June 2011
Apr. 2011
May 2011
Mar. 2011
Jan. 2011
PREPARED FOR POWERSPORTS BUSINESS PAGE 1 OF 1
©2012, R.L. POLK ALL RIGHTS RESE
120,000
6,000
COUNT
5,000 4,000
100,000 80,000
Mar. 2012
Jan. 2012
Feb. 2012
Dec. 2011
Oct. 2011
Nov. 2011
Sept. 2011
July 2011
Aug. 2011
June 2011
May 2011
Apr. 2011
Mar. 2011
Feb. 2011
Jan. 2011
Dec. 2010
Nov. 2010
Oct. 2010
Sept. 2010
Aug. 2010
July 2010
June 2010
May 2010
Mar. 2012
Feb. 2012
Jan. 2012
Dec. 2011
Nov. 2011
Oct. 2011
Sept. 2011
Aug. 2011
July 2011
June 2011
May 2011
Apr. 2011
Mar. 2011
Feb. 2011
Jan. 2011
Dec. 2010
Nov. 2010
Oct. 2010
Sept. 2010
Aug. 2010
July 2010
June 2010
0
May 2010
20,000
0
Apr. 2010
40,000
1,000
Mar. 2010
2,000
Apr. 2010
60,000
3,000
Mar. 2010
COUNT
USED
NEW 160,000 ©2012, R.L. POLK & CO. ALL RIGHTS RESERVEDcs 12323002 140,000
PREPARED FOR POWERSPORTS BUSINESS NEW PAGE 1 OF 1
12323002 cs 8,000
Feb. 2011
ON HIGHWAY
OFF HIGHWAY 10,000
Dec. 2010
Oct. 2010
Nov. 2010
Sept. 2010
July 2010
Aug. 2010
Mar. 2010
OFF-HIGHWAY
June 2010
0
Mar. 2012
Jan. 2012
Feb. 2012
Dec. 2011
Oct. 2011
Nov. 2011
Sept. 2011
July 2011
Aug. 2011
June 2011
Apr. 2011
May 2011
Mar. 2011
Jan. 2011
Feb. 2011
Dec. 2010
Oct. 2010
Nov. 2010
Sept. 2010
July 2010
Aug. 2010
June 2010
Apr. 2010
May 2010
Mar. 2010
0
Apr. 2010
2,000
May 2010
COUNT
NEW
SCOOTER SCOOTER 8000 USED
7000
NEW
6000
PREPARED FOR POWERSPORTS BUSINESS PAGE 1 OF 1
12323002 cs
COUNT
5000
©2012, R.L. POLK & CO. 12323002 cs ALL RIGHTS RESERVED
PREPARED FOR POWERSPORTS BUSINESS PAGE 1 OF 1
©2012, R.L. POLK ALL RIGHTS RESE
4000 3000 2000
Mar. 2012
Jan. 2012
Feb. 2012
Dec. 2011
Oct. 2011
Nov. 2011
Sept. 2011
July 2011
Aug. 2011
June 2011
Apr. 2011
May 2011
Mar. 2011
Jan. 2011
Feb. 2011
Dec. 2010
Oct. 2010
Nov. 2010
Sept. 2010
July 2010
Aug. 2010
June 2010
Apr. 2010
May 2010
0
Mar. 2010
1000
Source: Polk
34
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
BRP dominates U.S. snow, PWC markets Looking at market share, it’s no doubt BRP is leading the pack in both the PWC and snowmobile market, however the company also has small claims in the ATV and motorcycle arenas as well. BRP’s Sea-Doo brand accounts for almost half of the PWC market, with 46 percent of share. However, Yamaha isn’t far behind, with its WaveRunners acounting for 40 percent of share. In the snowmobile segment, BRP’s SkiDoo brand is also on top, taking a 39 per-
cent share. Polaris and Arctic Cat each share about a quarter of that pie, while Yamaha grabs 10 percent of the market. Can-Am, another BRP brand, holds 10 percent of the ATV market, forth behind front runners Polaris and Honda, with 27 percent of share each, and Ymaha, which boast 16 percent. The motorcycle market, held mostly
2012
by Harley-Davidson, Can-Am doesn’t hold as much of the market, with only a 3 percent share. Harley accounts for 35 percent of that segment, followed by Yamaha and Kawasaki, tied for a distant second at 15 percent. Honda grabs 14 percent, while Suzuki has a hold on 8 percent, while five other brands and Can-Am divide the remaining 13 percent.
2012 U.S. MARKET SHARE MOTORCYCLE
ATV 2012
Triumph 1%
BMW 2% Can-Am 3%
Ducati 2%
Polaris 3%
KTM 2%
Kawasaki 6% Suzuki 8%
Harley-Davidson 35%
Suzuki 6%
Polaris 27%
Arctic Cat 8%
Can-Am 10%
Yamaha 15%
Kawasaki 15%
Honda 14%
Honda 27%
Yamaha 16%
2012
SNOWMOBILE2012
PERSONAL WATERCRAFT Honda 1%
Yamaha 10%
Kawasaki 13% BRP 39%
BRP 46%
Arctic Cat 25%
Yamaha 40% Polaris 26%
Source: Powersports Business, industry sources
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UNIT SALES
30,000
400,000
20,000
March 2007
5,000
June 2008
2009
0
First Half
2010
2011
2012
2012 SCOOTER UNIT SALES
March 2007
June 2008
2009
First Half
2010
2011
2012
2012 ATV UNIT SALES 350,000
49,231
60,000 50,000
244,366
0
10,000
319,111
100,000
15,000 4,973 6,903 3,178 3,005 2,780 2,816
103,798 85,874 56,784 54,196 60,168 60,393
200,000
121,126 133,063 60,495 49,366 50,783 49,507
300,000
15,098 14,045 15,876 17,266
25,000
297,491 254,382 258,762 266,061
500,000
21,322
600,000
28,323
2012 DUAL PURPOSE UNIT SALES 550,699 553,711
2012 MOTORCYCLE UNIT SALES
DEALER DIRECTORY
3,780 4,070 3,129 3,134 4,150 4,324
DEALERS
300,000
29,719
2007
2008
2009
First Half
2010
2011
2009
First Half 2010
2011
109,893 86,448
400,000
2007
2008
2009
2010
250,000 200,000 150,000 100,000 50,000
June
First Half 2011
2012
212,129 181,542 187,565 193,287
54,185 44,673 37,123 36,300 18,084 13,473 10,217 6,261 5,146 5,473
22,086 17,442 9,030 9,715 10,069 8,160
March
2012
350,000 300,000
60,000
0
June 2008
450,000
80,000
20,000
2007
2012 ON-HIGHWAY UNIT SALES
100,000
40,000
March
2012
2012 OFF-HIGHWAY UNIT SALES 120,000
0
51,128 36,913 27,847 20,209 17,669 17,760
16,079 14,122 18,198 19,208
June
389,765 389,709
March
50,000
0
88,825 95,175 43,166 36,325 38,865 37,368
0
100,000
74,133 59,849 42,042 39,107 41,893 43,292
10,000
150,000 65,012 49,521 30,910 28,601 23,044 24,489
3,799 4,803 2,583 2,240 4,056 4,617
9,244
20,000
200,000
3,934 3,775 3,992 3,850
17,512
30,000
166,424 125,414 103,730 109,567
250,000
40,000
March 2007
June 2008
2009
First Half 2010
2011
2012
Source: Motorcycle Industry Council
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
U.S. MOTORCYCLE UNIT SALES BY MONTH
106,072 117,599 121,126 133,063
Motorcycle unit sales saw a year-over-year increase in March, June and December, with a decrease in September.
40,000
2006
54,481
2007 2008 2009 38,627 31,500 26,450 27,197
60,000
38,339 32,045 30,135
56,784 54,196 60,168
60,495 49,366 50,783
80,000
2005
76,916 70,919
87,484
100,000
67,878 61,933 51,813
120,000
97,464 102,129 103,798 85,874
140,000
2010 2011
20,000
0
March
June
September
December
Source: Powersports Business/ Motorcycle Industry Council
ANNUAL U.S. MOTORCYCLE UNIT SALES salesfrom 2010 to 2011. Annual U.S. motorcycle sales saw a slight year-over-year jump
1,200,000
1,000,000
965,400
1,009,588
1,022,332 948,464 879,910
800,000
600,000
520,502 439,678
440,899
2010
2011
400,000
200,000
0
2004
2005
2006
2007
2008
2009
Source: Powersports Business/Motorcycle Industry Council
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MARKET DATA BOOK / DEALER DIRECTORY 2012
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY Polaris Arctic Cat Hydrospace
WORLDWIDE PWC MARKET SHARE Yamaha has seen a significant market share increase from 2006 to 2012, while other OEMs found decreases. 100% 90%
13.24 %
15.87 %
14.62 %
15.16 %
10.12 %
13.06 %
13.72 %
80%
9.32 %
9.11 %
9.17 %
9.94 %
Honda
12.17 %
Yamaha BRP
70% 60%
Kawasaki
1.01 %
1.45 %
30.89 %
30.58 %
33.19 %
46.35 %
44.31 %
43 %
2006
2007
34.73 %
34.55 %
40.17 %
39.54 %
2009
2010
39.61 %
44.50 %
45.88 %
44.37 %
2011
2012-Q1
50% 40% 30% 20% 10% 0%
2008
Source: Statistical Surveys Inc.
WHOLESALE PRICE FLUCTUATIONS
This study done by National Powersport Auctions shows the difference in prices dealers can expect to pay at wholesale depending on the time of the year and the vehicle category. The study includes NPA sale transactions from 2007-12. For more information on the study, contact NPA’s Ryan O’Keefe at 858/413-1158. Normalized ASP PWC
PWC 130% 120% 110% 100% 90% 80% 70% 60%
Dec.
Grand Total
Nov.
Oct.
2012
Sept.
2011
Aug.
July
2010
June
2009
May
Apr.
2008
Mar.
Feb.
Jan.
2007
50%
Source:
42
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INDUSTRY CLOSE UP
UNIT SALES
ANNUAL U.S. ATV SALES
U.S. ATV SALES BY MONTH
2005
2006
2007
2008
2009
2010
2011
Source: Powersports Business/Motorcycle Industry Council
44
MARKET DATA BOOK / DEALER DIRECTORY 2012
P036x48-PSD12MDB-UnitSales.indd 44
2009
2010
0
C
101,828 97,959 93,147
2011
June
66,737
78,012 64,838 64,158 54,242
49,521
March
41,829 32,690 29,474 29,216
40,000 20,000
100,000 2004
2008
37,100 28,118 24,135 20,314
200,000
2003
2007
60,650 58,756 54,587 51,128 36,913 27,847 20,209 17,669
300,000
60,000
30,910 28,601 23,044
400,000
222,032
500,000
80,000
256,750
454,098
600,000
0
2006
100,000
321,181
700,000
2005
120,000 637,642
747,581
812,970
U.S. ATV sales were down in each of the four months of 2011 reported by the Motorcycle Industry Council. 2004
780,433
800,000
799,353
ATV unit sales continued to decrease from 2004 to 2011.
900,000
DEALER DIRECTORY
72,296 67,995 71,069 65,012
DEALERS
September
December
Source: Powersports Business/Motorcycle Industry Council
| POWERSPORTS BUSINESS |
9/7/12 5:47 PM
DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
ATV WORLDWIDE MARKET SHARE Can-Am is the only brand expected to gain market share in 2013. 100%
2%
90% 28%
28%
26%
23%
24%
25%
25%
26%
26%
2%
25%
3%
2%
21%
22%
3%
4%
4%
5%
5%
22%
21%
21%
21%
21%
9%
7%
80% 7%
70% 13%
10%
16%
20%
8%
7%
5%
40%
12%
13%
5%
4%
4%
11%
9%
9%
11%
11%
8%
8%
9%
20%
19%
18%
18%
5%
4%
4%
4%
Can-Am Yamaha
60% 50%
5%
8%
25%
12%
27%
11%
26%
10%
28%
9%
27%
9%
26%
7%
24%
6%
25%
7%
21%
9%
22%
8%
21%
8%
18%
19%
21%
22%
9%
8%
7%
7%
24%
27%
6%
6%
29%
Suzuki 29%
Polaris Kawasaki
6%
6%
Honda Arctic Cat
30% 20% 31%
29%
30%
31%
31%
30%
30%
32%
2%
3%
4%
5%
33%
30%
31%
30%
30%
30%
30%
30%
30%
6%
7%
5%
7%
7%
7%
7%
7%
8%
29%
28%
27%
26%
7%
8%
8%
8%
10% 0%
Source: Powersports Business, Wells Fargo Securities, industry sources
| POWERSPORTS BUSINESS |
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
UTV WORLDWIDE MARKET SHARE Polaris and Can-Am are expected to increase UTV market share next year.
100% 90% 80% 70%
2%
2%
3%
3%
4%
11%
10%
9%
8%
8%
11%
11%
12%
12%
12%
11%
10%
9%
12%
13%
Can-Am Yamaha
60% 50%
J. Deere Kubota 30%
36%
40%
42%
43%
Polaris
40%
Kawasaki Honda
30%
Arctic Cat
15%
14%
20% 10%
8%
14%
7%
9% 2009
13%
12%
4%
3%
3%
8%
8%
9%
9%
2010
2011
2012E
2013E
0%
Source: Powersports Business, Wells Fargo Securities, industry sources
U.S. SCOOTER SALES BY MONTH
ANNUAL U.S. SCOOTER UNIT SALES
March saw the largest increase for scooter sales in 2011.
and 2010 levels.
20,000
90,000
18,000
76,748
80,000
16,000
70,000
31,451
30,000
28,483
31,850
8,000 6,000
20,000
4,000
10,000
2,000
0
2005
2006
2007
2008
2009
2010
2011
0
March
June
2,711 3,170 2,501 2,118 1,597 1,919 1,570
10,000
40,000
3,778 4,230 4,317 2,817 2,530 2,465
12,000
50,000
9,472
14,000
54,255
3,934 3,775 3,992
54,268
5,885 7,497 9,244
56,889
3,656 3,438 3,799 4,803 2,583 2,240 4,056
60,000
17,512
Scooter sales in 2011
Scooter sales surpassed 2009
September
December
2005 2006 2007 2008 2009 2010 2011
Source: Powersports Business/Motorcycle Industry Council
46
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DEALERS
INDUSTRY CLOSE UP
UNIT SALES
DEALER DIRECTORY
SNOWMOBILE WORLDWIDE MARKET SHARE Market share from 2012 to 2013 is expected to remain the same. 100% 11%
8%
12%
90%
14%
16%
17%
17%
16%
34%
34%
35%
15%
17%
19%
20%
29%
28%
22%
23%
22%
27%
28%
21%
17%
16%
16%
32%
32%
32%
80% 70%
38%
40%
35%
32%
33%
31%
30%
27%
60%
27%
Yamaha Polaris BRP (Ski-Doo)
50% 40%
Arctic Cat 26%
28%
31%
31%
29%
28%
28%
29%
21%
21%
20%
33%
31%
33%
33%
31%
31%
32%
19%
19%
20%
19%
18%
33%
33%
33%
33%
19%
18%
19%
19%
30% 20% 25%
10% 0%
24%
22%
23%
22%
21%
22%
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013E
Source: International Snowmobile Manufacturers Association/Wells Fargo Securitities
SNOWMOBILE RETAIL SALES Though snowmobile sales in the U.S. have decreased over the last 15 years, international sales are on the rise. 180,000 U.S.
Canadian
Other Int'l
160,000 140,000 120,000 -1 100,000 80,000 60,000 40,000 20,000 0
Source: International Snowmobile Manufacturers Association/Wells Fargo Securitities
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