Even though it looked for awhile as though the dot.com world and the powersports industry would never merge, the two are closer than ever—much to the benefit of powersports businesses. A variety of effective new Web sites and an industry-wide standards program being pushed by the Motorcycle Industry Council (MIC), are responsible for the rebirth of Internet-related powersports business.
The MIC has been working for nearly two years on an industry data communications standard that will simplify communications between dealers and their suppliers. The program is based upon one used successfully in the auto industry for many years.
On the F&I side, the MIC also is involved in a rapidly expanding credit card processing program that saves dealers money on fees at the same time that it generates funds for important MIC off-road access programs.
The MIC’s card program is only one part of the big changes appearing in F&I during the past year. Perhaps the most significant change is the consolidation of several financing operations by GE, which is now one of the biggest players in the powersports financing business along with Household, a long-time retail finance provider. psb
Copyright 2004 Powersports Business