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August ORV retail trends reported by analyst

Photo courtesy of Kawasaki.

Wells Fargo Securities analyst Tim Conder reports his findings after meetings with industry wholesale lending contacts in a research note provided to Powersports Business.

In the powersports segment, Conder reports that “August estimated retail for ORV +MSD%, motorcycle flat-to-down. July momentum likely continued into August supported by strong consumer/industry fundamentals. Channel inventories remain very clean with aging at 5-year lows.

“ATV. We believe August U.S. retail was likely +LSD%, slightly ahead of the flattish YTD pace. Canada retail appears to be stabilizing, but still down YTD.

“SxS. We believe August U.S. retail could have been +MSD% against difficult comps with YTD +MSD-HSD%.

“Motorcycle. August U.S. retail likely continued flat-to-down, with YTD –LSD%. Strength in Off-Road and Dual Sport is offsetting ongoing Heavyweight on-road (Touring/Cruiser) weakness. Small/mid-cc and Sport Bikes continue to be the bright spot within on-road. We believe Canada retail is tracking +LSD% YTD.

“For 2018 we continue to expect unit retail for ATVs flat-to-up, SxS +MSD%, and motorcycles –LSD%. Top-pick Outperform-rated PII ($108.30).”

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