5 August 2020
For many businesses, it has been an ongoing struggle to remain operational, let alone profitable, throughout the COVID-19 pandemic. Many were forced to shutdown in March, in an attempt to flatten the curve and limit the spread of the disease, but one industry has powered through the pandemic with record-breaking sales. Canadian powersports dealers have seen a huge increase in sales compared to this time last year. ATV, personal watercraft, and motorcycle sales have skyrocketed across the country over the past few months.
High-speed social distancing
It seems that physical distancing efforts and prolonged ‘staycation’ protocols have inspired many to take up new outdoor hobbies and off-road activities.
Parents are using their ‘staycation’ to encourage off-road riding that allows families to get outside together and give kids something to do when local summer camps or organized sports have been cancelled. This has had a direct affect on mini bike sales. According to the MMIC (Motorcycle and Moped Industry Council), a national organization that represents the industry in Canada, mini bike sales have risen 41% and 87% year-to-date respectively. But it’s not just kids having all the fun…
Street bikes have seen a similar surge in sales throughout June as well. According to MMIC data, sales have increased by 24% compared to 2019. Motorcycles are a great, social distance-approved way of outdoor escape that allows riders to get out of the house while still exercising physical distancing practises.
LendCare fuels all your financing solutions
With this increased demand for recreational vehicles, now is the time for powersports dealers to capitalize on their sales potential. Thankfully, LendCare is among Canada’s premier choices for powersports financing. This season, we just launched 9.9% interest rate financing solutions, exclusively to Canadian powersports dealers. Take advantage of the growing demand and get your customers out on the open road with manageable installment payments for that recreational vehicle they’ve been wanting to purchase. Signup now to partner with LendCare and help your customers finance the freedom they’ve been looking for today!
Whether you are an existing client or brand new to LendCare, you can access financing for automotive repairs, healthcare (including dental and vision), and trips to the vet.
You can learn more about—and apply for—our current consumer financing programs below.