Recent news articles point to a mix of good and bad trends for the utility vehicle market. The good is that UTVs are becoming increasingly popular for a variety of work applications as they increase worksite efficiency. As an article in Rental Management Magazine points out, an increasing number of equipment rental bids for construction, utility, oil and gas, and event planning contracts require a line for utility vehicles. This trend is one of the reasons growth in the UTV market has outpaced the economy as a whole. Buyers have been willing to spend money on the vehicles because it makes economic sense for their operations.

The driving force is increased productivity and efficiency as users are able to more easily move around equipment and people. UTVs have increased their capabilities and versatility with more hauling and towing capacity, crew versions and increasingly the ability to add work attachments. In addition, there is a range of fuel options now available for UTVs with diesel, gas with fuel injection, electric and hybrid powertrains. The trend has been increasing horsepower across all of these powertrains. Electrics have been migrating to 72 volt AC motors which give them more capabilities and expand their potential work applications as some users institute “green” initiatives.

The rental business is an important indicator since it caters to such a wide variety of market segments, exposes customers to new equipment and provides them an opportunity to try out the equipment. The rental business does offer special challenges though because of the variety of work applications. One being the need to correctly match the UTV to the end use depending on key factors such as off-road/on-road use, terrain, people moving, hauling or towing requirements, weather conditions and more. For equipment rental companies this means carrying a range of UTVs to match their regional market needs. Another issue is safety since users may be unfamiliar with UTVs or a particular brand of UTV. A variety of safety options may be available from side netting, three-point seat belts and ROPS to reverse alarms, dynamic braking and light packages and online training/safety material. Different types of speed limiting technology is also available depending on the vehicle brand.

If the UTV rental business is a positive trend, the negative trend is an increase in UTV thefts. A recent article from The State in South Carolina highlights this trend. We have also been tracking this through other local newspaper articles from throughout the country. One of the reasons for the rise in thefts is the increasing popularity of UTVs and thus creating more of a market for stolen vehicles. Some simple actions proposed by law enforcement to reduce thefts include:

• Do not leave items near or close to the highway.
• Make sure serial numbers are recorded and stored in a safe place so that the items may be placed into the national computer system if stolen.
• Please don’t leave any of these items in areas that are easily accessible or near the roadway.
• If someone approaches you about selling one of these items at greatly reduced cost, please report that to law enforcement.