Polaris Q4 2017 Earnings

Posted on February 2, 2018 by Marc Cesare

The 2018 Polaris Ranger XP 1000 EPS helped drive sales for the quarter and the year.

Polaris Industries reported quarterly revenue of $1.431 billion and annual revenue of $5.429 billion, representing increases of 18% and 20% respectively compared to last year. Adjusted earnings per share for the quarter increased 25% driven by higher volume, lower promotional spend and operating expense leverage. For the year a 39% increase in earnings per share was driven by a combination of increased volume, an improvement in gross margins and a lower tax rate.

The following are highlights of the earnings call related to small, task-oriented vehicles.

ORV sales increased 14% in Q4 and 9% for the year
Average ORV selling price was up 4% for the quarter
ORV retail was up for the year but down for the 4th quarter as retail unit sales of Off-Road Vehicles were down just under 1%
Ranger sales were up for the quarter with strong demand for the new Ranger XP 1000 lineup
RZR sales declined for the quarter driven by “tapped demand and limited product availability”
For the quarter the ramp up of Ranger and RZR production was slower than expected in part attributed to the new quality initiative. This manifested as a production issue with a four-wheel drive component on the Ranger XP 1000, which was originally not up to the company’s quality standard.
Continued roll out RFM inventory and ordering system for side-by-sides and should be fully optimized by the second quarter
North American industry side-by-side growth was strong in Q4 but ATVs down.
Utility side of ORV is expected to grow but there is stiff competition on the RZR side which will not grow as much as competition increases
Agriculture markets were down in the fourth quarter and oil markets were up slightly, but there was no “substantial shift” in buying patterns.
In the side-by-side market decreased pricing is offset somewhat by decreased promotional costs and there is some commodity pricing pressures
Australia was a strong market as buyers switch from ATVs to UTVs
Global Adjacent Markets sales increased 19% in the fourth quarter, driven by strong growth in Aixam and Goupil, as well as continued strong sales growth in Government and Defense
For the year Global Adjacent Markets revenue reached almost $400 million including PG&A
Average selling price for Adjacent Markets increasing 14% for the quarter
For the full year Global Adjacent Markets sales increased 16% with all business lines growing
In Europe there is strong demand for small, inner-city delivery vehicles including electrics and that demand is increasing in the US as well
“More autonomous activities with both the military and Taylor-Dunn platforms than anywhere else in the company”

Guidance for 2018

Total company sales are expected to be up in the range of 3% to 5% with ORV market expected to be up
ORV market share is expected to be stable with continued momentum from Ranger and General product lines
ORV/Snowmobile sales are expected to be up low to mid-single digits with Snow about flat and ORV and PG&A sales up
Global Adjacent Markets sales are expected to be up mid single-digit percent with growth expected in all businesses.
The new long-term strategic targets for the company as a whole are 5% compounded annual growth rate for revenues and 15% for earnings
Management will be focusing on cost leadership more while maintaining innovation

Learn more: Seekingalpha.com (Earnings Call Transcript)

Club Car Launches Tempo Fleet Golf Car

Posted on January 29, 2018 by Marc Cesare

The Tempo, Club Car’s newest fleet golf car.

The four-person Club Car Tempo 4Fun fills out the new fleet line.

Club Car launched their newest fleet golf cars, the two-person Tempo and four person Tempo 4Fun at last week’s 2018 PGA Merchandise Show in Orlando. The Tempo comes with an all electric or gas drive train while the Tempo 4Fun is only available as an electric.

Tempo’s electric drive train features a 3.3 hp motor, 48V power system and a single-point watering system. The Tempo 4Fun has the same system except for a 3.7 hp motor. Both features battery packs with six 8-volt batteries. The gas Tempo is powered by a 404cc, 14 hp, single cylinder engine.

The touchscreen is part of the Tempo Connect package which includes Visage fleet management and the Shark Experience entertainment bundle.

The distinguishing option for the new fleet golf car is Club Car’s Tempo Connect, an electronics and connectivity package which includes speakers and a touchscreen that can display an electronic scorecard, 3-D flyovers, hole overviews, a rangefinder and a GPS messaging system. Tempo Connect includes both the Visage Fleet Management system and the Shark Experience. The latter is an entertainment system developed by Verizon in partnership with Greg Norman that provides golfers with live sports, music and golf tips. Visage has been on the market a number of years and is a fleet management system.

Common features for all models include:

Independent leaf spring with dual hydraulic shocks front suspension
Rear wheel mechanical drum brakes
Automotive body styling
Optional molded-in and painted Premium colors
Aluminum frame
Alloy wheel
Premium seats

Learn more: Clubcar.com

Honda Unveils Swappable Battery for Electric UTVs

Posted on January 15, 2018 by Marc Cesare

Honda’s Mobile Power Pack recently unveiled at the CES.

At the recent Consumer Electronics Show in Las Vegas, Honda unveiled a new swappable Mobile Power Pack battery system as well as UTVs and other products that use the system. As part of this Mobile Power Pack battery ecosystem Honda introduced a portable power system, “Mobile Power Pack Exchanger” and personal charging system.

Honda’s Mobile Power Pack is designed to have a capacity of 1 kWh or higher and envisioned as a method of storing and later using renewable energy produced during off peak hours. To that end, Honda presented several product concepts powered by the these swappable battery packs.

The autonomous 3E-D18 combines Honda’s work in batteries, robotics and powersports.

One such product is the 3E-D18 which Honda refers to as “an autonomous off-road workhorse device utilizing AI”. The vehicle features a Honda ATV chassis with an electric powertrain. By changing the upper part of the vehicle, Honda anticipates the vehicle being used in fire-fighting, agriculture, sports training support or a myriad of other uses.

An electrified Honda Pioneer 500 powered by the new mobile power pack.

A close-up of the Honda UTV showing a pair of the battery packs.

Another product presented was an electric powered UTV based upon their existing Honda Pioneer 500 model. They envision the vehicle being used for urban transportation, small cargo delivery and outdoor recreation. Other products included an electric powered scooter, a wheelchair type vehicle, a robotic cart for indoor use and a AI driven personal assistant called the “Empathy Concept”. Learn more: Honda.com

SVR’s Take

We have already noted some autonomous vehicle efforts in the UTV market by Yamaha and Polaris. This concept from Honda is the first to utilize electric power. These vehicles are likely to be used in highly-specialized and high value applications such as military and fire fighting first because of their high initial cost. As the cost of the technology decreases, they should be used in a wider array of applications. These type of vehicles require a range of competencies and technologies that likely relegates their development to only the largest UTV manufacturers or manufacturers from entirely different industries. Smaller or medium-sized players will likely have to look for technology partners to compete in this area.

The swappable battery concept may be a way of addressing range issues for electric UTVs. One can envision a UTV that is used for both work and recreation where work uses do not create a range or battery power issue, but an owner might want to bring along an extra battery pack for trail riding. In a work fleet scenario batteries could be swapped out similar to what is done with forklifts.

Another interesting point is that Honda lists urban transport and small cargo delivery as potential electric UTV uses. Neither of these uses are currently a primary use of UTVs and indicates a potential long-term growth area for the industry, although one that would require some changes to road use regulations.

Marc Cesare, Smallvehicleresource.com

Road Use Regulation Roundup: January 2018

Posted on January 9, 2018 by Marc Cesare

golf cart sign

The following is a summary of some of the road use regulations for golf cars, LSVs, ATVs and UTVs that have been passed or are being considered at the state, county and city levels in 2017.

Some trends in this latest regulation roundup:

After Ohio state officials passed a LSV law municipalities in the state are now passing local ordinances.
A number of municipalities are considering or now allowing the use of LSVs for taxi services.
Many of the regulations being passed or considered involve both golf cars and LSVs as opposed to just LSVs.
Some of the regulations being considered or passes involve allowing UTVs, ATVs and/or mini-trucks on public roads.
Some municipalities are reviewing ordinances because of various safety concerns related to the use of golf cars, UTVs, etc.

Malinta, OH – The village council discussed an ordinance allowing golf cars to be operated on public roads.

Bowling Green, OH – The Bowling Green City Council approved an ordinance allowing golf cars to be used on certain low speed city streets with a speed limit of 25 mph or less. The vehicles must be registered and titled, and possess state-mandated safety equipment.

Garden City, KS – The Garden City Commission passed an ordinance to allow utility vehicles to operate on certain city streets. A previous ordinance allowing mini-trucks on the streets inadvertently left out utility vehicles.

Sanibel-Captiva Island, FL – The City Council denied a permit to allow a business to locate a low-speed vehicle rental service because of a concern over having adequate parking space.

Waterloo, IA – The Waterloo City Council will allow the use of side-by-sides in the Riverview Recreation Area’s off-road vehicle park which previously only allowed motorcycles and ATVs. Some citizens were concerned about the mixing of larger vehicles with the smaller motorcycles and ATVs, and the amount of damage the side-by-sides could do to the trails.

Toledo, OH – The Toledo City Council approved the use of golf cars and LSVs on designated public streets through the end of 2018. Under the ordinance LSVs can include mini-trucks and UTVs that travel up to 25 mph.

Ormond Beach, FL – County officials posted signage along John Anderson Drive to indicate that golf cars are restricted from using the road. The signage is for unlicensed golf cars as golf cars in the state can be classified as LSVs if they meet certain requirements.

Hammock, FL – County commissioners are discussing the issue of golf car use on local roads after numerous residents raised the issue. Residents are concerned about golf cars using bike paths, the ability to cross a state highway to gain access to more roads and the cost of street legal requirements.

Elba, AL – Following numerous complaints, the Elba Police Chief had to address the use of unauthorized golf cars and UTVs on public roads. They are allowed on roadways but must meet certain requirements and be registered, and drivers must be at least 16 years old.

Auburn, AL – The city council passed an ordinance allowing the use of low speed vehicles to operate as cabs on certain city streets. The council was approached by an entrepreneur who is interested in starting an LSV taxi service.

Birmingham, AL – The Birmingham City Council is considering an ordinance that will allow taxi services that use low speed vehicles. The ordinance is based on one from Tuscaloosa where the company Joyride is operating such a service.

Bay St. Louis, MS – The city council wants greater enforcement of regulations regarding the use of LSVs, citing underage driving, parking on sidewalks and adults drinking while driving. The golf cars must be street ready and the drivers licensed and insured.

Ocean Springs, MS – Ocean Springs is considering an ordinance that will allow the use of golf cars and LSVs on streets with a speed limit of 30 mph or less.

Kentucky – A bill was signed that allows the commercial use of LSVs to make deliveries. UPS is planning to use the vehicles during the peak holiday season while the Teamsters Local 89 union, which represents many UPS employees, opposes the move citing lower pay for the LSV drivers and concerns about safety.

Jamestown, RI – The city council passed an ordinance that will allow golf cars, UTVs, ATVs and mini-trucks to be used on designated roads.

Jamestown, RI – Town officials are considering an ordinance that will allow LSVs on local roads.

Southport, NC – The board of alderman are reviewing a golf car ordinance amid concerns about the age of drivers, the use of alcohol while driving, safety requirements and the use of golf cars with four rows of seats.

Fort Myers Beach, FL – The city council is considering a permit that will allow, Nickel Ride, a free low speed vehicle taxi service to operate in the town.

Eustis, FL – Eustis Commisioners are considering an ordinance that will allow golf cars and lows speed vehicles in the downtown area and surrounding neighborhoods.

Carolina Beach, NC – The city council passed an ordinance clarifying the use of golf cars on local city streets. The vehicles will not be allowed to cross streets with speed limits above 35 mph and must have seat belts, headlights, taillights, turn signals and a mirror.

Highland Village, TX – The Highland Village City Council is looking into allowing golf cars and low speed vehicles to operate on certain local streets.

Peachtree City, GA – Peachtree City updated their regulations regarding the authorized use of golf car paths. The update is meant to clarify the rules and allow for better enforcement.

Cloquet City, MN – Cloquet City Councilors passed an ordinance that allows the use of ATVs and UTVs on cerrtain local streets. The vehicles need a permit and the driver needs a license or ATV safety certificate.

Will Electric UTVs Disrupt the Market?

Posted on November 24, 2017 by Marc Cesare

A prototype Nikola Zero electric UTV from Nikola Motor on test in Utah. Photo Credit: Nikola Motor

A shot of the Nikola Zero prototype’s underbelly while rock climbing. Photo Credit: Nikola Motor

Fred Lambert of Electrek.co, a news site that focuses on electric vehicles along with solar and wind power, was part of a small group of people that recently had a chance to experience the prototype Nikola Zero electric powered UTV in the challenging terrain around St. George, UT. His experience indicates that the Nikola Zero is not just vaporware with some outstanding specs but an actual UTV moving towards production. More importantly, Lambert’s experience with the Nikola Zero points to the possibility of electric UTVs significantly disrupting the market.

Before further discussing market disruption, lets take a look at the Nikola Zero test drive. The exact specs for the prototype were not provided but Nikola Motor stated that it is fairly close to a production version. Missing from the prototype are body panels. The prototype appeared to meet the the original spec sheet, which promised 555 hp and 4,900 ft-lbs of torque along with 20″ of suspension travel and 14.5″ of ground clearance. The prototype weighed in at around 3,500 lbs, featured 35″ tires, and was outfitted with a 107 kWh battery pack as opposed to the planned high end option of 125 kWh. For comparison, either size provides the UTV with a bigger battery pack than the maximum 100 kWh pack for a Tesla. The prototype’s display screen at the beginning of the test day indicated a 153 mile range at a 92% charge level.

Some highlights from Lambert’s take on the test drive:

Roomy 4-passenger vehicle even in the rear seats
Top-speed reached was 57 mph limited by terrain but company notes 80 mph is possible
Torque of four electric motors and low center of gravity made climbing even up 50% inclines seem effortless
- One 50% grade was tackled from a standstill where as gas-powered UTVs needed a running start
- A rock climbing spot was easily conquered by the Nikola Zero while a Can Am UTV and crew were stymied
- In another difficult spot a Yamaha was easily passed
Greatly reduced ride noise compared to a gas UTV
Two hours of driving and 1,500 ft. of elevation gain used about one-third of the battery capacity

The company remarked that they are using LG and Samsung batteries in a patented battery pack architecture. They are planning on producing a few hundred units in 2018 and a few thousand in 2019 with a MSRP in the $35,000 range for the 75 kWh battery pack option and $55,000 for the 125 kWh battery pack option. The production version is expected to be launched in December, 2017.

What does this test drive say about how electric UTVs can disrupt the market. One area is performance, especially in the recreational end of the market. The amount of torque and responsiveness of an electric UTV would be very difficult for gas powered vehicles to match. Having motors at each wheel is another advantage as is the lower center of gravity. A gas powered UTV simply cannot be designed this way. Even for the utility segment, while the capability for high speeds would be considered undesirable by many employers, the performance features applied to heavy duty work applications would be welcome.

Performance based disruption is directly tied to expertise in engine design and development. The major UTV manufacturers have invested enormous amounts of money and resources into developing their own engine technology to create more powerful and lighter gas engines as they have engaged in horsepower and torque battles. Electric UTVs have the potential to make that expertise obsolete and demand a focus on batteries, battery pack design and management, and electric motors instead.

Another area of potential disruption, that may be undersold at this point, is the relatively low noise level of electric UTVs. While many riders enjoy the sound of a roaring engine and maybe even consider it integral to the off-road experience, the lower noise levels may prove quite appealing during long hours of riding. The ability to more easily carry on conversations could increase the social aspects of riding. Quieter electric UTVs could potentially open up more areas for riding where noise is a primary land use concern. Again this will be an area that gas powered UTVs will have a hard time competing.

Another potential area of disruption is vehicle reliability. While the chassis, suspension system and many other parts will still be needed for electric UTVs, the electric powertrain eliminates a lot of moving parts and other systems associated with gas engines. A quick perusal of recent UTV recalls indicates that a significant portion of them are related to the gas engine or ancillary system. There is also less maintenance involved with electric powertrains. On the other hand, battery packs will have to demonstrate their reliability.

At this point, a major impediment to this disruptive technology is price. As the anticipated pricing of the Nikola Zero demonstrates, electric UTVs are very expensive machines relative to the current market. A lot of that pricing is tied to the battery pack. Unless battery pricing decreases significantly an electric UTV like the Nikola Zero will only be a niche product targeting the high performance end of the market, not dissimilar to what the original Tesla Roadster was. On the other hand, battery pricing has been dropping significantly, so more affordable but relatively high performance UTVs may not be that far away.

Learn more: Electrek.co, Nikolamotor.com

Marc Cesare, SmallVehicleResource.com

Textron Q3 2017 Earnings Report

Posted on October 26, 2017 by Marc Cesare

The 2018 Wildcat X LTD now under the Textron Off Road brand rather than Arctic Cat.

Textron reported third quarter revenues of $3.5 billion, up 7.2% from the third quarter 2016, while profit decreased $15 million for the quarter to $295 million. “Growth in the third quarter was the result of strong commercial demand at Bell, increased deliveries at Textron Systems and higher revenues at Industrial due to the acquisition of Arctic Cat,” said Textron Chairman and CEO Scott C. Donnelly.

Textron has folded Arctic Cat into their Specialized Vehicles division which also includes E-Z-GO, Cushman and other brands. They recently merged their Stampede, Bad Boy Off Road and Arctic Cat lines under the Textron Off Road brand. This includes a pared down lineup of previous Arctic Cat models and the introduction of Bad Boy electric vehicles under the Prowler model name. The following are highlights from the earnings call that relate to STOV vehicles.

Management reports putting a lot of resources into the integration of Arctic Cat and the process is proceeding on plan
The plan involved moving dirt manufacturing to Thief River and centralizing engine manufacturing in St. Cloud, as well as, clearing dealer inventory and educating them about the new lineup of vehicles under the Textron Off Road brand
The launch of the lithium ion battery powered golf products has gone “extremely well”
Side-by-side sales year over year did well, in part from clearing out inventory
Management reports good uptake by dealers of non-Arctic Cat products such as the Stampede and the recently announced Prowler EVs

Learn more: Seekingalpha.com (Earnings call transcript)

More STOV Self-Driving Tech

Posted on October 16, 2017 by Marc Cesare

The self-driving MRZR X developed by Polaris, ARA and Neya Systems for the Army’s SMET program.

A recent post highlighted current self-driving tech in the STOV market and commented on the potential in the future. In the past week I came across a couple of additional examples of self-driving tech in the market.

The first is a collaboration between Polaris Industries, Applied Research Associates (ARA) and Neya Systems to provide a platform for the US Army’s Squad Multipurpose Equipment Transport (SMET) program. Polaris brings their MRZR vehicle platform, currently sold to US and allied military organizations around the world, to the collaboration, Neya Systems is providing advanced unmanned systems technology and ARA brings experience in bringing computer and other technical expertise to national security issues. The SMET program’s goal is to develop a ground robotic vehicle to carry a squad’s worth of life support and combat gear. An Army squad typically consists of nine soldiers. (Learn more: Businesswire.com)

A self-driving shuttle from Auro which was recently acquired by Ridecell.

The second example is California based Ridecell that is developing self-driving, low-speed vehicles for use on private property such as colleges, theme parks, business parks, retirement communities, and basically any campus like setting that can set it’s own traffic rules. Ridecell recently acquired autonomous shuttle maker Auro Robotics. Ridecell will also be providing fleet-management software and services which they already provide for BMW’s and Volkswagen’s car sharing services.The battery-electric shuttle has a top speed of 25 mph and a 90-mile range. Auro currently builds three different configurations to suit various transportation needs and is using GEMs as their base vehicle platform. They provide 2, 6 or 12 seat shuttles depending on customer need. Learn more: Greencarreports.com

Ridecell is targeting exactly the markets I mentioned in my previous post. The college campus market in particular is already a major market for GEM. However, local GEM dealers could find themselves in competition with Ridecell and indirectly with Polaris who manufactures GEM vehicles, if they end up selling directly to Ridecell. It may be useful for Ridecell, Polaris corporate and local GEM dealers to collaborate in marketing self-driving vehicles. Ridecell could significantly expand their distribution and service channel and enhance their marketing efforts, Polaris could sell more GEMs without alienating their dealer base while establishing the GEM brand in the self-driving space, and GEM dealers could provide a value-added, next generation product to their customers while adding a differentiating and potentially higher margin product to their vehicle lineup.

For GEM dealers this could also be an opportunity to grab a greater share of the gated community market. Traditionally this has been a harder sell for LSVs because of the price of LSVs in comparison to used, refurbished, new and customized golf cars. The Ridecell product however would more likely be marketed to the organization operating the community rather than individual owners, since it would be a shuttle service shared by the community. The economics would be different as well, as the shuttle service would likely need to start with a brand new vehicle. Over the long term, a self-driving shuttle service could very well significantly erode the individual vehicle market in gated communities.

Marc Cesare, Smallvehicleresource.com

University Reveals aCar: An Electric Utility Vehicle For Africa

Posted on September 27, 2017 by Marc Cesare

A frontal view of the aCar on test in Ghana,

The aCar was developed by the Technical University of Munich.

Technical University of Munich (TUM) scientists have introduced a prototype electric powered utility vehicle designed for use in rural Africa. Four years in development, the prototype is called aCar, as in “all-rounder”, and was developed specifically to meet the needs of sub-Saharan countries.

The aCar is a cross between a UTV and a small truck, and is off-road capable and can transport heavy loads with a total load capacity of 1 ton. The aCar has four-wheel drive and electric powered to minimize maintenance, provide plenty of torque and be environmentally friendly. The battery can also be used to power winch or as an energy source. The modular design for the rear of the vehicle provides versatility to carry cargo, passengers, a mobile physicians office, a water treatment solution or other functionality. Other key specifications and features include:

20 kW battery capacity
48-volt system
80 km range
Top speed: 60 km/h
7 hour recharging time from 220 volt household socket
Optional solar sheets
Price: under 10,000 euros
3.7m x 1.5 m x 2.1 m
Seating capacity: 2
Simple production and low manufacturing costs

The vehicle was tested in Ghana for a month and was well received by locals. The aCar will first be produced in Europe to understand and optimize production, but the goal is to move production and eventually component manufacturing to Africa.

Learn more: TUM.de

This project highlights some of the obstacles in creating a capable and affordable vehicle for customers in developing countries. Not only does such vehicle have to be affordable to purchase but also to operate. One might think that a large UTV manufacturer could just export their lower priced models. However, the complexity of the design, the need for a reliable fuel supply, and the additional cost of shipping the vehicle all create obstacles.

In terms of design, complexity invites potential for more breakdowns and requires a robust supply chain for parts and more technical expertise for repairs. A simple but robust design alleviates these issues. A leading UTV manufacturer would likely have to develop an entirely different platform for this market.

The modular approach for the aCar is different from the accessories and options approach in the UTV market. Developing modules for specific applications provides some flexibility but, in comparison to the UTV market, limits the level of customization that can be achieved. On the other hand, developing the modules and the requisite supply chain, is likely more cost effective than developing and supplying a wide range of accessories and options in areas where a dealer network will be very limited. A next step in this project may be to look at how the modular design approach can best balance cost, supply and complexity issues with vehicle customization to increase productivity and value.

Marc cesare, Smallvehicleresource.com

STOV Self-driving Tech

Posted on September 25, 2017 by Marc Cesare

Yamaha Viking VI with autonomous driving technology.

Driverless technology and autonomous driving have been garnering plenty of attention and press lately. The vast majority of the focus has been on highway capable vehicles, but the small, task-oriented vehicle market (STOV) is active in this new area of innovation as well.

One recent example is Yamaha’s development of a fully autonomous Viking VI utility vehicle using their Autonomous System X1 technology. The screenshots from a video of the vehicle in action provides an idea of the technology at work.

No driver but some additional screens.

Some of the imagery tech the autonomous Viking VI uses.

The autonomous Viking VI maneuvering around an obstacle on the trail.

The system combines GPS, LIDAR (light detection and ranging) and an IMU (Inertial Measurement Unit). Publicly available aerial imagery and digital elevation maps are used to plan the trip, and simulations from a terrain model are used to find the best local path. In addition, camera images are used to detect traversable ares in an off-road environment. The video of the Viking VI in autonomous action is impressive.

GEM configured by MAy Mobility for self-driving.

Another example are two GEM vehicles being used by May Mobility to test self-driving technology in the city of Detroit. The testing will be conducted from Oct. 9 to 13 in conjunction with Bedrock, LLC, a real estate firm. The six seater GEMs are configured with May Mobility’s software and sensors and be used to transport Bedrock workers to and from various company locations. The vehicles will operate for three hours a day, travel only on roads with a speed limit of 35 mph or less, and have a driver on board to take control in emergency situations if necessary. Learn more: Startribune.com

In our recently released STOV market study, SVR argues that self-driving technology could produce a significant boost to the STOV market in the coming years. The lower speed environments may provide a safer environment to initially implement self-driving technology. A number of self-driving test vehicles are being used as shuttles along readily defined loops with limited variation. Gated communities are another low speed environment with limited variability that could provide an easier entry point. The largest potential though resides in a large scale movement towards new urban mobility platforms. In congested urban areas the speed limitations of LSVs are less critical as is the lower vehicle range. On the plus side is the smaller size, zero emissions and lower noise of the vehicles. Self-driving technology has the potential to facilitate large scale deployment of low speed vehicles in urban environments.

UTV Industry News Briefs

Posted on September 20, 2017 by Marc Cesare

CFMoto Motor company is planning to raise about $68 million in an initial share offering on the Shanghai Stock Exchange. Learn more: Reuters.com

Can-Am is the official off-road vehicle for the Luke Bryan Farm Tour. There will be vehicle display booths at each tour venue. A main target customer for Can Am’s relatively new Defender product line is farmers. Learn more: Powersportsbusiness.com

Wells Fargo Commercial Distribution Finance extended its preferred dealer financing program with Kymco USA, a long time client. Separately, Kymco is offering a “Customer Choice” offer of customer cash or extended warranty on purchases of 2015 and 2016 year models through Sept. 30, according to its website. Learn more: Powersportsfinance.com

Kawasaki is donating five Mule UTVs to aid recovery efforts after the destruction left by hurricane Harvey. In addition the company is matching employee donations made to non-profit organizations. Learn more: Thedrive.com

Yamaha Motor Corp. will launch their power-assist electric bicycles in the United states beginning in 2018. While the company has been in the e-bike business for decades, the US market has not been targeted until now. Four models will be available ranging from street cruiser to more of a racing bike. Learn more: LATimes.com

Small Vehicle Resource Blog

Information on the small, task-oriented vehicle market

Category Archives: electric vehicles