As we kick off 2025, I feel like everyone in the powersports industry is looking for a light at the end of the tunnel. Certainly, there were some bright spots in 2024. After a two-year pandemic hangover, inventory across the board is stabilizing. Consumer sentiment is also rising, ticking up two points to 71.8 and notably higher than its lowest point in July, according to the University of Michigan Consumer Sentiment index. While sales and service revenue continues to be down across the board, a recent J.D. Power Q3 Market Insight report revealed that sales of sports bikes ticked up in the quarter and are tracking 5.4 percent higher year-over-year.
So where does that leave powersports dealers? With lots of opportunities for 2025! Well-stocked dealers will be in a position to make more money in 2025. And savvy dealer principals who make the right investments will be able to make more revenue. Here are three tips to making more in 2025.
Value of selling more
Whether selling one more unit or attaching a protection product to an ATV, 2025 should be the year of generating value through selling more. General managers who adopt the mindset of seeking more during each transaction will see the cumulative results. Reinforce that mindset through targeted training that empowers the sales team and arms them with the right tools for success.
Embrace change
Face it – we live in a digital world and almost all our customers initiate their buying process online. In 2025, develop a strategic plan to market your dealership and your products online. That means more than boosting your website. It’s a strategic initiative to distinguish your dealership from the competition across the web, in email, and any other digital marketing tools at your disposal. Again, training is key here. Selling online is very different than on the shop floor. Make sure everyone at your dealership is technically savvy and that your sales and service team engage correctly with current and prospective customers. Don’t forget to double check that your digital communications are compliant with federal and state regulations.
Make it easy to purchase
While we live and breathe powersports, for the majority of consumers the purchase of a new vehicle is a ‘want’ not a ‘need.’ Except for certain demographics who use motorcycles or utility vehicles in their daily work lives, buying a new unit can be considered a luxury purchase. Whether the intended use is family recreation, or a mid-life treat, make the purchase comfortable and easy for the customer. Clearly explain the benefits of protection products that can extend the life and use of the vehicle. And if economic concerns are top-of-mind for the buyer, products like GAP or WALKAWAY can prove very beneficial.
2025 will likely bring a host of additional twists and turns, staying focused on those items you can control in your dealership will yield positive results. Focusing on making more is not just about revenue. It’s also about making more time with friends and family. Making more time for personal improvement. And making more of an impact in our communities.
As we look toward the new year, we want to thank you for the trust you place in us. For almost 50 years, you have depended on EFG to help achieve your profitability goals and we are honored by the opportunity. At EFG Companies, we’re more than an F&I provider, we’re your business partner. Together, let’s make more in 2025.
