[dropcap]W[/dropcap]e came up with this Year in Review idea two years ago because we thought it would be a good time to not only look back on the year, but also to look ahead a little with an outlook for what the coming year might entail.
Of course, we also wanted to include some current news while covering top headlines of the year. So, now in year two, we think the formula is a keeper and we’ve expanded a little further with more ‘Best of’ columns and features (my apologies for not including everyone as space was limited).
2016 began with a lot of potential to be a big year for powersports, but sales just were not keeping up with expectations, even though there were a number of new model launches that looked good on paper, some just didn’t translate into sales. However, there were a few success stories (i.e., Triumph Street Twin, Yamaha YXZ 1000 and others).
In attempting to narrow down the headlines into an amount that would fit… it became clear that ther were a number of big stories we covered. Some of the stories that didn’t make the cut were (almost) worthy, but in the end had to be slashed for bigger stories. It may have been worth mentioning Harley’s lackluster performance in 2016, however.
Baby boomers continue to bow out of the market at a faster pace, and we as an industry need to come up with ways to bring in the next generation. I have said it before, but I think Gen Z is who we should focus on. Not that motorcycles and powersport vehicles are a lost cause with the millennials, but many of them have already formed their opinions, good or bad, about the industry. Gen Z, according to the last Census, outnumbers millennials by about a million. Marketers are still trying to figure them out, but the clock is ticking and we should be proactive in our approach.
And finally, the biggest story of the year likely won’t be understood until halfway through 2017. The Presidential Election will have many implications on the industry and beyond, but we don’t really know what they’ll be for sure yet. Will we see higher tariffs on imported products, which many of our customers rely on for their powersports needs? I think it’s very possible that the business climate will improve for powersports companies, but for every action there’s a reaction. Hopefully the new President-elect will push the right buttons and lay off of Twitter for a while.
