Picking up right where May left off, June 2021 sees record pricing across the entire powersports marketplace.
This latest update on how the COVID-19 pandemic has affected the powersports market continues to tell the same story we have been covering for the past several months, namely that prices are up across the board once again.
The past several months have been a roller coaster ride of severe drops in value followed by a historic increase in pricing for June. After all that, this month actually looks sort of normal…believe it or not.
Unlike in many years past, where spring tended to see virtually all segments rise somewhat in unison, this year the cruisers and street bikes are leading the way, with the rest of the segments up by varyingly smaller amounts.
This time of year generally marks the transition at the wholesale level from the slow winter market to the much more active spring selling season. Keep an eye out for more and larger gains for most units over the next few months.
Now that the holidays are behind us and we are in both a new year and a new decade, it’s that annual point in time where we take stock of where we have been, where we are, and where we are going.
This fall has the feel of years past, which hopefully means spring will be similarly enthusiastic on the upswing, but we will have to wait a few months to be sure.
Black Book’s most recent report showed typical trending seasonal declines in the powersports industry.
Black Book reported that prices this month reflect both normal seasonal trends as well as the fact that new model sales have been somewhat sluggish this year, with many dealers awaiting incentives from the manufacturers to help move inventory.
This month’s downturn comes amidst otherwise positive news of late, as several powersports lenders have reported early loan payoffs and higher originations in the trade publications, usually signaling a strong market.
While sales at the auctions have been steady, prices are not seeing much upwards pressure at the moment.
June is traditionally the month where Black Book sees the highest values in the powersports wholesale market as summer is officially underway, and motorcycles, scooters and watercrafts are in high demand.