2023 Q3 Powersports Market Insights Report
POWERSPORTS MARKET INDUSTRY OVERVIEW
Powersports segments cooled notably in the second half of 2023, reflecting a more difficult trade environment and tougher finance conditions. In the motorcycle segment, values for the most recent 10 model years of cruisers averaged 6.8% lower in the first 10 months of 2023 compared to the same period of 2022 and are essentially back to pre-pandemic levels. Sportbikes averaged 2.8% lower in the current period than year-prior, with a dip in the most recent valuation period. In the side-by-side segment, the Utility segment averaged 8.3% lower in the first 10 months of 2023 compared to the same period of 2022, putting them back near the pre-pandemic level.
The Sport segment averaged 6.2% lower in that period.
Market conditions cooled noticeably in the second half of 2023, reflecting equity challenges and higher interest rates. Cruisers and Utility side-by-sides have corrected most notably, but the market overall is performing more like 2019 than 2021.