Powersports Pricing Continues to Increase
TROY, Mich.: 06 May 2021 — In the Q1 2021 Powersports Market Insights , analysts from J.D. Power Specialty Valuation Services forecasts continued strong conditions for at least the next few months as long as consumers’ discretionary income remains positive. While parts shortages and production issues will remain an issue, the increase in used powersports prices has created a seller’s market for dealers with inventory.
“Shortages of just about every product industry-wide are pushing values for used motorcycles and side-by-sides to historically high levels,” said Lenny Sims, vice president business development and strategy at J.D. Power Specialty Valuation Services. “In the motorcycle segment, the most recent 10 model years of sportbike values are averaging 12.4% higher than in the first quarter of 2020. Side-by-sides are performing even better, with utility models bringing 24.5% more revenue year over year, and sport models running 16.1% higher.”
Major findings in the free quarterly report note:
- Significant used price increase in the first quarter among powersports categories
- Surge in traffic views for the motorcycle and side-by-side segments in March 2021
- Cruisers are the most searched with 25% of traffic views
J.D. Power Specialty Valuation Services (formerly NADAguides) is a leading provider of specialty vehicle valuation products and services to businesses. The team collects and analyzes tens of thousands of wholesale and retail transactions per month, and delivers a range of guidebooks, web service data, analysis and digital data solutions.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power is headquartered in Troy, Mich., and has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
Media Relations Contacts
Geno Effler, J.D. Power; West Coast; 714-621-6224; firstname.lastname@example.org
Shane Smith; East Coast; 424-903-3665; email@example.com
About J.D. Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info