Picking up right where May left off, June 2021 sees record pricing across the entire powersports marketplace. So far, the loosening of COVID-19 restrictions, that is accelerating rapidly at the moment, is doing nothing to lessen demand for powersports vehicles of all types. The economy is heating up, and with vaccination rates rising steadily, we are speeding our way back to normal at a rate much faster than many had expected.
“In what is becoming a regular occurrence, powersports values continue to set records month after month. Just like last month, all segments except snowmobiles are up by amounts ranging from healthy to eye-popping. Demand continues to far outpace supply for both new and used vehicles,” said Scott Yarbrough, senior analyst, motorcycle & powersports at Black Book.
May to June Average Segment Change in Value
The biggest movers this month are the utility vehicles, up 4.4%, followed closely by the dual sports, up 4.0%. The dual sports have seen slightly smaller increases the past few months, and now appear to be catching up to the rest of the on-road segments. The water segments, jet boats and personal watercraft, are up 3.3%, not surprising considering the time of year and hot market.
Street Bike Performance
Street bikes continue to be in high demand as we are now firmly in the prime selling season for on-road bikes. The amazing thing is that prices never took a significant break over the winter and are running about 18% higher this year than last for the same exact bike.
ATV & Utility Vehicle Performance
The chart below shows the initial shocks to vehicle sales as much of the country shut down last spring, followed by the steep rise in prices that continues today, as dollars originally slated for sports, vacations and other social activities started to flow into the powersports market.
• The Motorcycle Industry Council (MIC) Retail Sales Reporting system which tallies new motorcycle retail sales from 14 leading manufacturers showed a 31.4% increase in sales for the first quarter of 2021 versus the same quarter last year.
• Inventory levels are low across the entire powersports industry. The yearlong combination of lessened output from the manufacturers and unprecedented demand has left dealer lots seriously depleted. Many dealers are now actively prospecting their own customer bases looking for units to stock showrooms. Until the inventory situation improves, we expect prices to remain elevated.
Link: Black Book
