Identifying key preowned sales benchmarks

How is the retail picture in my showroom different from my region or the nation at-large? That common and incredibly important question is challenging enough to answer with regard to some new unit categories. (UTVs to name one!)

But once you get into the preowned market, it’s even more challenging.

However, we do know this much thanks to data collected and shared by R.L. Polk: This spring, four used bikes were selling to every one new bike. That data obtained through state registrations, however, represents an entire look at the United States, both sales occurring in dealerships and through private parties.

So the obvious follow-up question is: Does the retail ratio of used to new bike sales in dealerships look anything like the overall U.S. picture?

The answer appears to be no.

Dealers participating in a Powersports Business survey overwhelmingly are selling less than one used bike to one new bike.

However, we’re still in the process of collecting data from more dealers to get a better overall picture of this used-to-new dynamic. To help us collect that data, please click here to take survey.

The final results of the survey will only be available to dealers and other industry members who tune in to an upcoming Webinar that Powersports Business is presenting along with Cycle Trader. The Webinar, called “Increase profits selling used units,” will be held June 29 at 1 p.m. Central Time. The Webinar is free to industry members.

By the way, besides the ratio of used-to-new units, we’ll also examine other key preowned benchmarks with the survey, including average profit margins and key inventory sources for dealerships. Better yet, we’ll have a leading dealer trainer and consultant discuss ways to improve retail sales for this key industry category.

To register for the Webinar, Go to:

https://powersportsbusiness.webex.com/powersportsbusiness/onstage/g.php?t=a&d=662886722