In the powersports market this month, the ATV and utility vehicle segments have finally shown the pricing strength we expect for this time of year. This is in marked contrast to last month, where these segments saw only minimal increases in value, which is highly unusual for the time of year.
ATVs are up by 3.8 percent and utility vehicles are up by 3.2 percent. With the increased use these vehicles see by hunters, farmers, and outdoorsmen in the fall, it was unusual to see their values overall merely hold steady, rather than increase significantly over the past few months.
As for units that see decreased usage as the weather turns colder, street bikes are down 1.3 percent, cruisers are down 2 percent and off-road bikes are down 2.7 percent, which represents normal adjustments for these segments as we head into winter weather.
Snowmobiles are continuing to inch up in value as winter approaches. They are up by 2.8 percent this month. With real winter weather just around the corner, the slow buildup in pricing and activity we have seen at the auctions is likely to accelerate over the next few months.
Personal watercraft are down by an additional 3.9 percent versus last month, while jet boats are down an additional 4.2 percent. Combined with the drops in value we have seen over the last two months, these segments are down a little over 13 percent from their summertime highs. If you have the space, this could be a great time to stock up a few units on the cheap for next spring. Exports from some buyers at auctions are also having an impact within the market, so if you have a few old carryovers, this might be a good time to re-market a few at the auctions.