Powersports Segment Growth Ignores COVID-19

News: North America

2020-12-21

Powersports Segment Growth Ignores COVID-19

Michael Aistrup
Michael Aistrup

While much of the North American economy slowed to a crawl after COVID-19 shutdowns in 2020, the powersports industry posted significant growth. Many people, weary of staying at home, found a cure for cabin fever while riding an off-road vehicle or experiencing socially distant spaces on trails. By all indications, the sales increase in powersports equipment has been one of the few bright spots in an otherwise grim COVID-19 economy.

According to Jeremy Jansen, senior vice president of Wells Fargo Commercial Banking’s distribution financing business, “What started out as a slight uptick has just taken off to record sales levels,” he said. “Dirt bikes, ATVs, side by sides, personal transport vehicles — everything in the book is retailing well above prior year.” After plummeting briefly in mid-March amid the initial shutdown, powersports sales skyrocketed in the ensuing months.

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DataPoint: U.S. Trenchers, 2020 Production Estimate, 5,768 Units

The 5,768 units is the estimate by Power Systems Research of the number of Trenchers to be produced in the U.S. in 2020.

This information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers.

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2020-12-17

2020, A Year to Forget for MHV; 2021 Is Looking Better

Chris Fisher
Chris Fisher

SUMMARY: In this article we provide a global overview on a regional basis of the medium and heavy commercial vehicle market (GVWR > 6 MT’s) along with current trends and OEM happenings in North America.

NORTH AMERICA. MHCV production in North America is expected to decline by 35% in 2020 compared to 2019.  However, orders for class 8 trucks improved significantly in Q4 2020 as large fleets placed their orders for a 2021 build.  This appears to signal an improvement in demand for 2021 as the market aligns itself with the expected freight level moving forward.  The consumer segment was strong during the last half of the year and the industrial segment is now expected to improve, as well. 

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2020-12-01

PSR/JCB Power Systems Construction Outlook Webinar

On November 30th, Power Systems Research with JCB Power Systems presented a webinar providing the 2021 outlook for construction equipment production and engine emissions trends in North America, South America and Europe.

The presentation included the latest information on COVID-19 impacts on construction equipment production. JCB Power Systems provided details regarding emissions in developing engine technologies that are coming to market across the globe.

PSR-JCB Power Systems Construction Equipment OutlookDownload
PSR-JCB-Power-Systems-Construction-Equipment-OutlookDownload

2020-11-24

DATAPOINT: US Excavators, 2020 Production Forecast, 17,125 Unit

The 17,125 units is the estimate by Power Systems Research of the number of Excavators to be produced in the U.S. in 2020.

This information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers.

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Market Updates: PowerSports, Lawn & Garden and Marine

New Powerboat Retail Sales Up 8%

Michael Aistrup
Michael Aistrup

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

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TRATON-Navistar Merger Impacts Engine Development

Chris Fisher
Chris Fisher

In November, Volkswagen’s TRATON group and Navistar announced a merger agreement in which TRATON will acquire all outstanding shares of Navistar.  Previously, TRATON held 16.7% of Navistar’s common shares.  The deal is valued at $3.7 billion and is expected to be finalized in mid-2021.

Navistar has been in collaboration with TRATON’s brand MAN for a number of years, primarily with regard to engine development.  PSR believes additional engine offerings will be one of the primary goals to improve profitability and long-term market share improvement within the class 8 truck segment.

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2020-11-19

Power Systems Research and JCB Power Systems Offer Construction Equipment Outlook Webinar

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On Monday, Nov. 30, 2020, at 9:00 am CST, representatives of two leading international firms will present a free one-hour webinar discussing the construction outlook in Europe and North and South America.

During the session, Power Systems Research and JCB Power Systems will present the latest information on the impact of COVID-19 on construction equipment production. JCB will provide details on emissions in developing engine technologies that are coming to market across the globe.

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2020-10-28

DATAPOINT: US Shredders, 2020 Production — 68,200 Units

The 68,200 units is the estimate by Power Systems Research of the number Shredders to be produced in the U.S. in 2020.

This information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers.

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Bus Fleets Convert To Zero Emission Vehicles

During the past few years, many cities and states have committed to full adoption of their transit bus fleets to zero-emission vehicles.  While the implementation dates vary, most are aiming to have the transition completed by 2040. 

Chris Fisher
Chris Fisher

Since transit buses typically have pre-defined routs and access to recharging infrastructure, they are good candidates for adoption.  It also helps that this segment is not-for-profit, and a short-term payback is not required.  The significant barriers to adoption appear to have been overcome. 

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