ADP Lightspeed study reveals only 1 in 10 UTVs purchased used
A study by ADP Lightspeed of more than 88,000 purchases of side-by-sides in 2013 shows that 91 percent of all side-by-sides are purchased new. Only 9 percent of side-by-side buyers in 2013 bought pre-owned units, according to the data provided to Powersports Business.
Of those who bought new UTVs in 2013, 82 percent of them did so without a trade. Those who purchased their new UTV with a unit to trade accounted for 18 percent of sales, the ADP Lightspeed data shows.
Of those who purchased a new UTV via a trade-in during 2013, nearly one-third of them traded in a multi-purpose UTV. Here’s a breakdown of what the new buyers traded in as part of their purchase:
UTV Multi-purpose: 29.3 percent
ATV Multi-purpose: 26.1 percent
Motorcycle: 15.8 percent
UTV Sport: 10.4 percent
Other: 7.6 percent
ATV Sport: 5.2 percent
Snowmobile: 2.4 percent
PWC: 1.4 percent
Auto/boat/RV: 1.2 percent
Scooter: 0.4 percent
The study also finds that among new UTV buyers in 2013 who used a trade as part of their purchase, 87 percent of them traded in one unit. Meanwhile, 13 percent of those who bought a new UTV via trade did so by trading in more than one unit as part of their purchase.
Click here for reuse options!
Copyright 2014 Powersports Business