New Powerboat Retail Sales Up 8%
Data from the National Marine Manufacturers Association shows August was another strong month for new powerboat retail sales, which were up 8% year to date on a seasonally adjusted basis compared to a year ago.
New power boat retail sales did slowed in August following increases in the early summer months. Total sales were down 13 percent compared to July, while sales are still strong with increases across all major categories, year to date. Sales of saltwater fishing boats, tow boats, cruisers and yachts each had double-digit growth ranging from 11 percent to 15 percent, compared to 2019. PSR
Motorcycle Sales Up by Double Digits Through Q3 2020
The Motorcycle Industry Council reports a new-model sales increase for Q3 2020. Year-to-date sales of new motorcycles and scooters through September increased 10.2% compared to the same period last year. PSR
Briggs & Stratton Exits Chapter 11 with New Owner and CEO
Briggs & Stratton announced that KPS Capital Partners (KPS), through a newly formed affiliate, has acquired substantially all the assets of Briggs & Stratton Corp. KPS acquired the assets free and clear of liens, claims, encumbrances and interests through a sale under Section 363 of the United States Bankruptcy Code. Briggs & Stratton will now operate as an independent company with the long-term support of KPS, a global private equity investor with approximately $11.5 billion of assets under management.
Briggs & Stratton also named Steve Andrews president and CEO of Briggs & Stratton effective immediately, according to Michael Psaros, co-founder and co-managing partner of KPS.
“The company has a new owner,” he said, “a new CEO, a new board of directors and a renewed focus. Briggs & Stratton launches with a portfolio of products sold under industry leading iconic brand names, a rock-solid capital structure and access to KPS’ financial resources and expertise. We look forward to accelerating the company’s growth by increasing its already substantial investment in research and development, technology and new product development. KPS will also provide the capital for Briggs & Stratton to pursue strategic acquisitions.” PSR
DR Power Equipment Acquires Mean Green Products
DR Power Equipment, a division of Generac Holdings Inc., said it has completed the purchase agreement to acquire the assets of Mean Green Products, a battery powered, commercial grade turf care manufacturer.
DR Power Equipment designs and manufactures a full line of professional-grade, outdoor power equipment. Mean Green Products designs and manufacturers a commercial line of zero-turn and walk behind, battery-powered turf care products that provide quiet, zero emissions and minimal maintenance options as compared to traditional commercial mowers. PSR
Zero Motorcycles’ Partners With Polaris Industries
Zero Motorcycles, a global leader in electronic motorcycle powertrains and technology, entered into a joint development, licensing, and services relationship with Polaris Industries, an OEM of off-road vehicles/ATVs, snowmobiles, motorcycles and boats. Zero and Polaris will work together exclusively for the next 10 years to adapt Zero’s powertrain technology for motorcycles into powertrains for use in ATVs and snowmobiles within a specified power range.
Polaris Inc. is an American manufacturer of motorcycles, snowmobiles, ATV, and neighborhood electric vehicles. Zero Motorcycles Inc. is an American manufacturer of electric motorcycles. Formerly called Electricross, it was started in 2006 by Neal Saiki, a former NASA engineer. PSR
Harley-Davidson Launches E-Bike Brand
Harley-Davidson launched its all-electric motorcycle, the Livewire, in 2019 and now, Harley-Davidson is taking it a step further by launching a stand-alone e-bike brand. The name for Serial 1 Cycle Company comes from “Serial Number One,” Harley-Davidson’s first motorcycle. Harley-Davidson says the e-bike emerged from a skunkworks project from “a small group of passionate motorcycle and bicycle enthusiasts” within the company.
E-bikes are expected to be a significant growth industry over the next decade as people rethink work, their carbon footprint and how they commute. PSR
Michael Aistrup is Senior Analyst at Power Systems Research
