Arcimoto FUV: A Threat to PTVs?

Posted on October 31, 2018 by Marc Cesare

The electric powered Arcimoto FUV (Fun Utility Vehicle) is just coming to market.

Oregon based Arcimoto is beginning to roll out their three-wheeled Fun Utility Vehicle (FUV). The combination of price point, size, electric powertrain and ability to travel public roads makes the Arcimoto FUV an intriguing alternative to golf cars, PTVs and LSVs.

Update – Arcimoto responded to a number of questions I sent them and I have added the information to the relevant sections below.

Arcimoto FUVs already on the Road

The first 10 FUV prototypes hit the road this past June. The company completed another 15 vehicles, referred to as their beta series, in September. These went to five customers and the remainder to rental locations. Vehicle rental franchising in tourist locations is a key part of Arcimoto’s marketing plan. As of the end of June the company has 2,800 reservations for the FUV.

Volume Production

Management expects to begin production and delivery of their A series of vehicles during this quarter. The A series marks the move to higher volume production. Plans call for a run rate of 200 vehicles/week or roughly 10,000/year by the end of 2019. The company has deliberately designed smaller sized production facilities that can produce approximately 10,000 vehicles per year. A production facility costs approximately $10 million. This limits initial capital costs and creates a facility that can be profitable relatively quickly. Furthermore, the facility can be easily replicated in other parts of the country or the world.

Vehicle Features and Specs

The Arcimoto FUV is a three-wheeled vehicle powered by a 67 hp electric motor and a 12 or 20 kWh lithium-ion battery for a range of 70 or 130 miles and a top speed of 80 mph. As a three-wheeler, most states classify the FUV as a motorcycle or similar vehicle. Therefore, it does need the same safety requirements as a full-sized, highway capable vehicle. The FUV can seat two passengers, one behind the other, and features regenerative braking, hydraulic brakes, a windshield with wiper and defrost, and heated seats and hand grips. Additional options include full HVAC, soft or hard shell doors, rear cargo box, bluetooth speakers and racks for golf clubs, bikes, surfboards, etc. The target price for the base model is $11,900 with a fully decked out model reaching the $19,000 range.

Arcimoto FUV Dimensions

Versatility and Price Point Creates an Alternative to PTVs

The FUV is a versatile vehicle for gated communities. The vehicle can move from golf course, to community pathways to public roads. On public roads the FUV faces none of the restrictions of a golf car, PTV or LSV since it is classified as a motorcycle. Therefore, it can travel on higher speed roads and at night. The FUV can travel faster and farther as well. In terms of speed, the FUV may need a speed limiter option for use on golf courses or within communities depending on local regulations. According to Arcimoto, the vehicle does have the capability to cap speeds to meet specific needs.

The company is targeting a $12,000 base price. Therefore, the FUV is pricier but competitive with LSVs and fancier PTVs given the trade off between price and functionality. One of the reasons LSV sales never really took off in gated communities as expected is that the additional price premium did not offer a significant benefit over new or refurbished golf cars. LSVs are most successful where regulations greatly restrict the use of PTVs or golf cars on local roads. However, if anything, municipalities are becoming less restrictive regarding golf car use. Furthermore, in states like California, Massachusetts, Maryland, Arizona, and Illinois there are tax incentives available for the FUV. There is also the possibility that electric motorcycle or similar incentives could be brought back at the federal level. The company is lobbying to have the tax credits for motorcycles and three-wheeled vehicles brought back. This additional cost reduction could further boost the attractiveness of this alternative vehicle.

Arcimoto FUV Drawbacks

There are some potential drawbacks to the Arcimoto FUV in the gated community setting.

Higher Driving Speeds

Some communities may object to the vehicle’s higher speed capabilities. Some type of speed limiter could address this, or not, depending on the locality. In addition, given the older demographic in gated communities, some drivers may not feel safe driving at higher speeds on local roads. Nevertheless, driving up to 40 to 45 mph would include a large swath of vehicle usage inside and outside a gated community. In effect, the FUV could displace both PTV miles and a sizable chunk of driving performed with highway capable vehicles.

Seating Configuration

Seating configuration is another potential drawback. The seating in an FUV is one passenger behind the other rather than side by side. Some users may feel this reduces the social aspect while riding in the vehicle, particularly on a golf course.

Vehicle Storage

For seasonal usage by vacation home owners, there is often a need to store the vehicle for several months without any usage. This can be an issue or at least require some planning for the current battery powered vehicles. According to Battery University a lithium ion battery should be stored at 40% percent charge if being stored for an extended period. Arcimoto did not answer my question directly on this subject but expect to have a battery pack with a lifetime of “…8-10 years with normal vehicle usage, and still maintain more than 80% of their original charging capacity.” The pack replacement cost is expected to be under $2,500 inclusive of the residual value.

Marketing, Pricing and Local Regulations Critical to Success

The success of the Arcimoto FUV in displacing golf cars, PTVs and LSVs will depend on three key elements: marketing, pricing and local regulations. The last may be the most important. If gated communities object to the FUV’s higher speed capabilities, and there is no technological fix, foreclosing the market. The pricing may be the easiest to address. If Arcimoto can hit their target price at volume production, even without tax incentives there is a compelling cost benefit story for the FUV.

The marketing element depends in part on where Arcimoto’s management wants to invest resources. The gated community market may be too small to target during the initial phases of the vehicle’s rollout. In addition, golf car dealers mainly serve this market. The company likely does not have relationships with this distribution channel. On the other hand, their rental franchise plan could overlap with these dealers as some are located in tourist oriented beach communities and have high PTV use. This angle could serve as an entry point to the market. In response to my questions Arcimoto stated that they put on a test ride event for the FUV at The Villages, a gated community in Florida, on November 12th. They also noted that the short drives and warm weather make resort communities a great market for the vehicle.

In a years time we will have a better idea whether the Arcimoto FUV has met with success, and whether it threatens the PTV market.

Marc Cesare, SVR

Tariff Questions Dominate Polaris Earnings Call

Posted on October 25, 2018 by Marc Cesare

Polaris 2019 Ranger XP 1000 EPS 20th anniversary

The 2019 Ranger XP 1000 EPS 20th Anniversary edition helped drive sales despite tariff concerns.

Financial Results Overview

Tariff questions dominated the Polaris Industries earnings call to discuss their Q3 financial results for fiscal year 2018. The manufacturer of the RZR, Ranger and General side-by-sides reported adjusted revenue of $1,653 million, an increase of 12% from $1,480 million from third quarter 2017. Net income increased 21% from $98 million to $118 million. (Financial figures are compared to Q3 2017 unless noted)

STOV Segments Perform Solidly

Overall ORV/Snow segment revenue increased 3% from $1,007 million to $1,036 million. Lower snowmobile revenue was more than offset by a 12% increase in ORV revenue. ORV includes UTVs and ATVs. North American (NA) retail sales, driven by side-by-side sales, increased 1% in the quarter against a tough comparable. In comparison, management estimated that industry wide NA ORV sales improved low single digits for the quarter. Polaris side-by-side market share for the quarter remained the same.

The average selling price of ORVs overall increased 5%. Management reports that the initial launch of the 2019 model year was successful with good response from consumers and dealers. In particular, the new Ranger XP 1000 variants drove sales. Furthermore, the company’s inventory management system, RFM, is producing results with the best side-by-side delivery performance to date. In addition, lower promotional costs accompanied the stronger sales. Comments on individual markets indicated that the oil and gas customer segment improved while agriculture decreased some.

Global Adjacent Markets Gain

The Global Adjacent Markets (GAM) segment made solid gains as well. Sales increased 5% from $92 to $98 million. This segment includes vehicle sales to commercial, government and defense clients in addition to Aixam quadricycle sales in Europe. In addition, the GAM segment includes vehicles like Ranger and Brutus UTVs, military RZRs, GEM electric vehicles, Taylor-Dunn industrial vehicles and Goupil electric vehicles based in France. Management reported solid sales for Goupil vehicles and strong orders from fire and police departments, and other government agencies.

ORV and GAM Drive International Growth

Sales to international markets jumped 10% with a strong showing from the ORV/Snow segment, up 9%, and the GAM segment, up 6%. Looking at sales by region, the Europe and Middle East drove overall international sales while Latin America increased only slightly and the Asia Pacific region decreased.

Full Year Guidance Improves

Polaris increased their guidance for the ORV/Snow segment. They now expect a low double digit increase in sales.The GAM segment should increase sales by low double digits, which is unchanged from previous guidance.

Tariff Impacts

Tariff impacts raised expenses by $8 million for the quarter and are expected to total $40 million for the year. The renegotiated NAFTA deal, the USMCA, is expected to have a neutral effect. However, the 301 tariffs, especially the upcoming List 3 tariffs could have more severe repercussions. Currently, the company is dealing with List 1 and List 2 tariff impacts. Polaris is at a disadvantage related to 301 List tariffs because their main competitors produce their vehicles in Mexico or assemble them in the US using Japanese parts. Therefore, these companies are not subject to the same tariffs.

Tariff Mitigation Plans

Management laid out a three pronged approach to mitigating the potential List 301 tariffs. First, they will try to negotiate with their suppliers to share some of the increased costs. Second, they may increase prices. Thirdly, they hope to lobby the current administration to obtain an exemption from the tariffs. Polaris argues that the tariffs are primarily hurting them, but they are the only US based manufacturer among the major players in the market. Furthermore, the company has been increasing their US based manufacturing. At this time, Polaris is not providing any specific quantitative guidance for tariff impacts for 2019.

Other Future Factors

For the powersports market in general, management expects that there will be a need to increase pricing to offset inflation, tariff impacts and increasing commodity and logistics costs. Furthermore, management stated, “As the industry leader, we’re not afraid to lead on price.”

The newly launched Factory Choice program, which gives the customers and dealers an opportunity to make differentiated vehicles from the factory and has been popular, gives Polaris optimism. The program should help drive sales in the future.

The dealer inventory profiles produced under the RFM program this year for side-by-sides significantly improved product availability. The increased availability bolstered sales, raising similar expectations moving forward.

Learn more: Polaris Earnings Call Transcript (Seekingalpha.com)

SVR’s Take

This was another solid quarter for Polaris. The sales increases for side-by-sides were not gangbusters at first glance, but they are being compared to a really strong third quarter in 2017. The new 2019 vehicle lineup should drive sales more fully in the fourth quarter. The GAM segment is slowly growing into a significant business and could become a $500 billion business in about two years. On a cautionary note, the tariff impacts could slow progress for Polaris, especially in contrast to fast growing and Canadian based Can-Am. Increased pricing could potentially hurt sales, although as a premium brand Polaris can pass on some pricing. The other alternative is that they will take hit to their margins and generate less income.

Textron Off Road Struggles with Arctic Cat

Posted on October 19, 2018 by Marc Cesare

Textron Off Road’s Wildcat XX. Wildcat models were previously sold under the Arctic Cat brand.

Textron 2018 Q3 Earnings Results

Textron, Inc recently reported fiscal year 2018 third quarter earnings. They point to a struggling Arctic Cat brand which was acquired in early 2017. The company embedded the Arctic Cat brand under their new Textron Off Road brand in their Specialized Vehicle business, which is part of their Industrial segment. Specialized Vehicles also includes E-Z-GO golf cars, Cushman utility vehicles, towing tugs among other small, task-oriented vehicles. Management reported that poor Specialized Vehicle results hurt the Industrial segment that in turn reduced overall quarterly performance for the company.

Weak Performance but Faith in the Product

The Q&A part of the earnings call pointed to problems with products formerly sold under the Arctic Cat brand. CEO Scott Donnelly remarked that “…the most fundamental challenge in the business is around particularly the dirt side, the consumer side of that business and that’s the area that where we need the most work”. Furthermore he noted that,

” Industrial, segment profit was breakeven primarily due to unfavorable operating performance in specialized vehicles. Specialized vehicles has undergone significant change over the past two years, as we have expanded the product portfolio. While we’ve seen increasing revenue in the segment, we haven’t seen the planned level of growth or do the operating levers necessary to support the expected returns.”

Nevertheless, management remained positive about future performance and confident of the products they are putting on the market. Donnelly further stated,

“We’ve got great feedback from customers, the performance side we don’t have a product problem I mean we have still gaps which again as I said we’re working on it as we go forward but I think the progress on what the product is and how the product is performing we’re very pleased with.”

The management expects better performance in the fourth quarter.

Sales Channel Issues

Additional management comments indicated other issues in the sales channel may be limiting performance. Management noted the need to manage the channel but that some dealers are doing very well. Overall the retail sell through did not meet expectations. Furthermore, management allocated more funds to product discount programs to reduce inventory. In addition, management expressed a desire to improve the sales tools that help customers get to the product.

Pricing Changes Reflect Sales Issues

The pricing changes across the Textron Off-Road vehicle lineup from 2018 to 2019 reflects the poorer than expected retail performance. Management reduced prices for nearly every model, slashing prices for the Wildcat side-by-sides the most. Wildcat price cuts ranged from $500 to $2,500 with most at least $1,000. In contrast, many other manufacturers maintained pricing or slightly increased pricing by around $200 in most cases.

Textron Earnings Call (Seekingalpha.com)

SVR’s Take:

If management likes the product and some dealers are doing well, it sounds like it may possibly be a dealer issue. Either dealers are in the wrong location or they are not performing well. The management’s comments about getting customers to the product raise additional potential issues.

“I think in general how we manage that channel is something that frankly we just haven’t done as well as we should have. And our sales tools and how easy we make it for perspective customers to figure our product, have access to the dealers, have a natural way to help customers move to our product is just something we didn’t do well.”

This could cover a lot of ground from advertising to website performance to in-store marketing material to how dealership personnel interact with customers from first contact to sale.

Marc Cesare, SVR

Polaris 2019 Ranger Crew XP 1000 Reviews

Posted on October 15, 2018 by Marc Cesare

The 2019 Ranger Crew XP 1000 EPS in Sunset Red Metallic from Polaris.

2019 Ranger Crew XP 1000 Overview

The six-passenger 2019 Ranger Crew XP 1000 from Polaris features a number of improvements compared to the 2018 version including more power, ground clearance, towing capacity and larger tires. The Sage Green base model starts at $16,299 and there are four models in the lineup including a Premium model with automotive paint, a 20th Anniversary Limited Edition with special paint scheme and stitched seats, the Northstar Edition with a full HVAC cab and a High Lifter Edition for mud riding. Some of the key features and specs of the 2019 Ranger Crew XP 1000 include:

82 hp engine
High Performance On-Demand True AWD/2WD/VersaTrac Turf Mode
Engine braking system
Electronic power steering
27″ Maxxis tires on aluminum Black Xcelerator 2.0 wheels
11″ of front and rear suspension travel
13″ of ground clearance
1,000 lbs capacity cargo bed
2,500 lbs towing capacity
4-Wheel Hydraulic Disc with Dual-Bore Front Calipers
Under seat storage and pass through for longer items
New front fascia design

Reviews Summary

These reviews focus on the base and Premium model with some owner added options as noted. In general, the reviews are very positive. Owners like the power, ride and storage of this model. The only common issue is that the response of the vehicle on initial take-off can be “jerky”. The first two videos discuss some of the key features of the vehicles and are from dealers. Actual owners with time on the machines made the latter two and are more informative.

Vehicle Walk Arounds

Video walk around of the 2019 Ranger Crew XP 1000 by Family PowerSports in Lubbock, TX provides a nice overview of key changes from 2018 model. These changes include:

New front fascia
Increase ground clearance from 11″ to 13″
26″ stock tires to 27″ 6-ply tires
Increased horsepower from 80 to 82
Increase towing capacity from 2,000 lbs to 2,500 lbs
Widened front and rear entries for easier ingress and egress
25% thicker seats for more comfort
Cleaner dash design
Added storage under passenger seat

Video walk around of the 2019 Ranger Crew XP 1000 by Leone Polaris in Peru, IL. This video provides more footage of vehicle specifics but is also a little harder sell. The presenter noted similar changes over the 2018 model as in the video above and added the following:

Best crew model on the market
25% tighter turning radius
Highest grade tires and wheels
Tailgate quality similar to a good pickup truck

Owner Reviews

Video review from owner with the 2019 Ranger Crew XP 1000 EPS Premium

First-time UTV owner reviewing after about 800 miles and 75 hours using the vehicle
Use the UTV when camping and added front full glass windshield, rear plexiglass window and roof from Polaris and a bluetooth audio system from a third party provider
Owner is from South Dakota and used vehicle on gravel roads and farmland
Compared to base model this one has different gauge and dashboard along with automotive paint
Would have bought full glass rear window instead of plexiglass which probably won’t last that long
Love the ride: “Drives like a Cadillac” and seats are “top notch”
Takes bumps and river bottoms really well in front and rear seats
Love the look of the front which looks like a pickup truck
Crew size is good for family with three boys
Lot of room for storage
Like the power. Have easily towed trailer with pavers.
Don’t like the dust in the cabin even with half windshield we tried from neighbor; Better without windshield but our area has a lot of bugs
No grab handle for the driver seat which makes it difficult for older person to enter the vehicle
Accessories are extremely expensive e.g. doors would cost $5,000 more
Machine is long. You will need a 14 ft. trailer.
Commenters responding to the video talked about having a “jerky” initial takeoff. Others suggested this lessened with breaking in of the belt and using lower gear at start.
Another commenter noted the “amazing power” of this model

First impression video review by a new owner of the 2019 Ranger Crew XP 1000 in Sage Green which is the base model. The owner drove the vehicle around a duck hunting camp in Alabama checking and pulling game cameras.

First time UTV and Polaris owner with a couple of hours of use on the vehicle
Added front and rear glass. The Plexiglas option when scratched can be difficult to see through in low light.
Sage Model doesn’t have adjustable driver seat and just a digital gauge instead of additional analog gauges.
Like the large amount of storage
Might put in 1/4 doors up front in contrast to the standard side nets
Reached 52 mph top speed
Driving in work mode seems to have a smoother throttle response in contrast to the other modes
2″ higher ground clearance is good for use in the water
Very happy with it

Can-Am Defender XT Reviews

Posted on October 11, 2018 by Marc Cesare

The 2019 Can Am Defender XT in hyper Silver

Defender XT Overview

The 2019 Can-Am Defender XT is a three-seat utility vehicle priced at $15,799. You can choose to power this model with the 50 hp HD8 or the 72 hp HD10 engine option. In either case, the Defender XT features a PRO-TORQ transmission with Quick Response System and a drive train with a lockable rear differential and Visco-Lok QE auto-locking front differential. This model also has electronic hill descent control, three driving modes and dynamic power steering. The Defender Xt is designed for work primarily and therefore can haul up to 1,000 lbs in the cargo box and tow up to 2,500 lbs. Other features include:

Twin Tube Gas Charged Shocks
10″ of front and rear suspension travel
11″ of ground clearance
27″ Maxxis Bighorn 2.0 tires
220mm hydraulic disc brakes
650 W Magneto
Winch
XT Front Bumper
Full HMW Skid Plate
Full Hard Roof
Adjustable Tilt Steering
Multifunction digital/Analog Gauge
Available in Hyper Silver, Intense Red or Mossy Oak break-Up country Camo

Reviews

The 2019 models have not been out that long so there aren’t too many reviews available and they aren’t any based on long term usage of the vehicle. However, the reviews are pretty positive. The amount of interior storage the ability to remove some of the storage bins impressed the reviewers. The reviews are complimentary as one focuses more on the drivability of the Defender XT and the other comments more on the interior and usability of the vehicle.

UTVDriver.com -Trail riding with the Defender XT in the Black Hills of South Dakota

Vehicle had the more powerful HD10 option
Smooth, linear power delivery with no noticeable power loss at 6,500 ft.
Normal driving mode is most responsive
Comfortable seating for larger driver even after many miles
Glove box that doubles as removable tool box and other removable storage is a positive
Handled a variety of terrain well including uphill, downhill and fallen trees
Feels solid

Fisher’s ATV World – Video review of a Defender DPS HD10 which is basically the same as the Defender XT but without a few extras

Quiet ride
Do not feel heat from the engine
Easy in/Easy out
Really like the small turning radius
Plenty of storage
Can haul and tow a lot

ODES Industries Launches 2019 UTV Lineup

Posted on October 1, 2018 by Marc Cesare

The ODES Industries 2019 Dominator X2 LT Zeus features a touchscreen and LED lighting.

ODES Industries, self-described as a value UTV brand, recently announced their 2019 UTV lineup as they push for even more growth. According to company statements ODEs Industries has been growing for the last several years including a doubling of sales from 2016 to 2017. The 2019 lineup includes 10 models including the new XForce 2 and XForce 4 models which feature an enclosed cab. Probably, these models are aimed at heavy duty work applications in challenging weather environments. Prices range across the lineup from $9,795 up to $23,495.

ODES Industries Dominator Models

The Dominator line includes the following models:

The entry level Dominator X2 ST Model V1 – MSRP $9,795
The Dominator X2 ST Model V2 – MSRP $9,995 (Adds Doors, OTR Tires and Matte Black Wheels)
The premium level Dominator X2 LT Model V1 – MSRP $13,095
The top level Dominator X2 LT Zeus Model V1 – MSRP $14,795 (Adds 7″ Full Touchscreen LCD, Heated Seats)

The 2019 Dominator X2 ST

The Dominator X2 ST versions have the following features:

800cc Engine
Digital Dash Display
Full Roof
Heavy Duty Front Bumper
Full LED Lighting
Electronic Dump Bed
Rearview Mirrors
Door Nets
Front 3,500 lbs Winch
Towing Hitch
14″ Wheels
26″ Tires
Lockable Storage Boxes

The Dominator X2 LT models have the following features:

800cc Engine with 1000cc option for Zeus model
Long Travel – Vi-LOCK Suspension
Digital Dash Display
Full Windshield
Full Roof
32″ LED Light Bar
Heavy Duty Front Bumper
Heavy Duty Rear Bumper
Full LED Lighting
Electronic Dump Bed
Rearview Mirrors
Metal Frame Doors
Front 3,500 lbs Winch
Rear 3,500 lbs Winch
Towing Hitch
15″ Wheels
29″ Tires
Lockable Storage Boxes
Radiator Guards
A-Arm Guards
Electronic Power Steering

Also, there are three Dominator X4 models which seat six as a result of stadium style seating. These versions are similar to the two-passenger lineup with a Dominator X4 ST V1($11,295), Dominator X4 LT Zeus V1 ($16,495) and Dominator X4 LT V1 ($14,795).

Sport Model

A 1000cc engine powers the sporty Ravager LT Zeus from ODES Industries.

The two-passenger Ravager LT Zeus gives ODES Industries a pure sport model in the lineup. A 1000cc engine powers the Ravager which features a Two Brothers Racing Exhaust, 3M graphics kit, Two Brothers/Dyna Jet Juicebox kit, front winch, 29″ OTR Dirt Master tires and 15″ OTR Matte Black wheels. The company revamped the model for 2019. Ravager LT Zeus features include:

7″ Touchscreen LCD Display
Long Travel – Vi-LOCK Suspension
Full Windshield / Roof
32″ LED Light Bar
Two Brothers Racing Exhaus
Passenger Grab Bar
Cargo Bed
Rearview Mirrors
Metal Frame Doors
Front 3500lbs Winch
Rear Towing Hitch
15″ OTR Matte Black Wheels
OTR Dirt Master 29″ Tires
Radiator Guards
A-Arm Guards
Electronic Power Steering
Heavy Duty Front Bumper
3M Graphics Kit
Powder Coated Bars – Yellow or Blue
Two Brothers / Dyna Jet Juicebox Kit

New XForce Models Feature Cabs

ODES Industries added a cab to their latest offering, the Force 4, which seats six.

Finally, rounding out the lineup are the two newest models from ODES Industries, the XForce 2 priced at $20,995 and the XForce 4 priced at $23,495. The X2 can seat up to three and the X4 up to six. Both feature AC/Heating systems, heated front seats, 10.6″ LCD touch screen and a 1000cc engine. Standard features include new mapping, GoPro integration, front and rear camera options, temperature controls, digital displays, Bluetooth connection for phone and text display and direct screen audio control. The latter feature makes it easier to just ride rather than play with electronics.

Integrated Media w/ Bluetooth and USB
Onboard GPS Nav with Trail Tracking
Front and Rear 640×480 Cameras
In Screen Go Pro Integration
ODES Ultra LCD Integrated Software
Aluminum RollcageAC and Heat System w/ Fan Control
Onboard Generator for Power Support
Front Glass Window w/ Wiper System
Front Window Adjustment, 3 Settings
Glass Door Windows w/ Electric up/down
Single Row LED Directional Light Bar
Full Enclosure System
Interior Lighting
3 Captains Chair Seating
Heated Driver and Passenger Seats
Fold Down Center Seat for Console Storage
Folding Aluminum Dump Bed
800LBS Capacity Electric Dump Bed
Exterior Rear Working Light
Oversized Side Mirrors
Aluminum A-Arm Guards
16 Gallon Gas Tank
4500LBS Wireless Winch w/ Nylon Rope
Reversible Front to Rear Winch Hitch w/ 2″ Ball
Winch wire quick disconnects
Snorkeled CVT Air Intake System
Exterior Panel Light and Bed Controls
LED Front and Rear Lights
OTR Dirt Master Tires 28×10-14
OTR Steel Wheels
Interstate Battery
Royal Purple Ice Coolant
Stage 4 Made in USA Kevlar CVT Belt
Double Wishbone Independent Suspension
Ground Clearance of 327mm
Aluminum Box 1076x1561x260

Learn more: Odesindustries.com

SVR’s Take:

ODES Industries is another value brand that appears to be having success offering solid features at a reasonable price. These brands typically have a starting price point in the $9,000 to $10,000 range for their entry level UTV, although some start even lower with fewer features. According to ODES Industries website, they source parts from around the world and partially assemble vehicles in Asia. The remaining assembly appears to be in the US. The company moved assembly from California to Dallas, TX in 2016.