Yamaha’s Wolverine R-Spec UTV Shipping To Dealers

Posted on April 16, 2015 by Marc Cesare

The new Yamaha Wolverine R-Spec UTV hitting dealer showrooms this month.

Yamaha’s new UTV, the Wolverine R-Spec, is coming off the production line in Georgia and will be available at dealers this month. The Wolverine R-Spec is targeting hunters and off-road recreation users. Key features of the vehicle include:

708cc EFI engine
2WD, 4WD, locked 4WD Drive Train
Yamaha Ultramatic V-Belt transmission with all-wheel engine braking
26″ tires and steel wheels
Hydraulic disc brakes
Independent double wishbone suspension front and rear with 9.7″ and 10.6″ of travel respectively
Ultra-long-stroke KYB nitrogen gas charged piggyback shocks
11.4″ of ground clearance
300 lb. cargo bed capacity
1,500 lb. towing capacity
Sun hard top
Electronic power steering (EPS) versions

The models are currently available in Hunter Green and Steel Blue with a RealTree Xtra Camo version available in May/June. MSRP for non-EPS models starts at $12,199 and for EPS models starts at $13,199. Learn more: ??Powersportsbusiness.com

Comment:?? After several years of minimal UTV product development Yamaha has come back in a big way the last few years. First with their Viking lineup of UTVs targeting work and crossover recreation use in the 2014 model year and further expanded for model year 2015, and now with the new Wolverine series targeting purely recreational use. I would expect Yamaha to expand the Wolverine lineup with a 4-person version and more sportier models. Although the latter might be handled by another product line launch specifically targeting high performance/sport recreational use.

Cub Cadet Expands UTV Lineup With Challenger Series

Posted on April 16, 2015 by Marc Cesare

A new UTV from Cub Cadet’s new Challenger series.

Cub Cadet is expanding their utility vehicle lineup with a pair of new models, the Challenger 500 and Challenger 700, which launch their new Challenger series of UTVs. The 500 is powered by a 471cc EFI engine and the 700 by a 686cc EFI engine. Other key features for both models include:

350 lb. cargo box capacity
1,200 lb. towing capacity
Four-wheel drive with a front locking differential
Four-wheel independent, adjustable suspension
Four-wheel disc brakes
Large-capacity, mid-mount air intake
Hard-top roof
Quick-release windshield
Alloy wheels
Front-mount winch
26-inch off-road tires
Digital display
2 person capacity

The specs for the Challenger 700 show a top speed of 45 mph and 11″ of ground clearance. Similar specs are not available on the Cub Cadet website for the 500. The MSRPs for the Challenger 500 and 7000 are $8,499.99 and $9,499.99 respectively. Both models will be at Cub Cadet dealers in May and are available in yellow or camo. A four person version will be available later in the summer. Learn more: ??agriculture.com

Comment:?? This launch is another sign of the intense competition in the UTV market. Not only are more well known powersports brands launching new vehicles and new product lines but smaller volume brands as well. If they want to stay relevant in the market they must, given the fast pace of product development and innovation for UTVs. With the nice set of desirable features and price points, these vehicles are clearly targeting the value segment of the market. Kymco and CFMoto have found some success in this price range, which is several thousand dollars less than many offerings from more well known UTV brands. Being an American brand with some history may give Cub Cadet an edge against the foreign competitors in this space.

BRP Q4 FY15 Earnings Call & Analyst Day

Posted on April 10, 2015 by Marc Cesare

The Can Am Maverick Xds Turbo was introduced in 2015.

BRP, manufacturer of Can-Am branded off-road vehicles recently announced their financial results for the fourth quarter of fiscal year 2015, and also made a presentation to industry analysts. The following is a summary of some of the key points from the earnings call and analyst presentation, mostly related to the utility vehicle market. (all $ figures in Canadian dollars)

For the year total company revenues were up 10% to $3.5 billion and net income increased to $70.1million from $59.7 million.
For the year, Year Round Products revenue, which includes ATVs, UTVs and the Can Am Spyder, increased to $1.3 billion from $1.2 billion.
Gross Profit Margins decreased by 1% to 24% because of currency issues.
In the Q4 2015, which ended January 31, Year Round Products increased 53% year over year to $416.0 million from $272.5 million. The large increase is attributed to continued growth, dealer shipments for new product introductions for ATVs, UTVs and the Spyder and a new dealer ordering system that shifted some shipments from Q3 to Q4.
The Maverick Xds and Xds Turbo were introduced but slightly behind the optimum schedule.
Management reports that North American industry side-by-side sales are up mid-teens percent for the season starting in June while the ATV industry remains flat.
Can-Am side-by-side sales were up mid-single digits. While Can AmMaverick and Commander maintained market share in their respective sport and recreation focused market segments, BRP’s lack of product in the more utility oriented segments puts their sales growth behind the overall industry pace.
New product introductions increased inventory for UTVs and ATVs slightly.
Promotional activity for the UTV market is reported to be normal.
UTV OEMs continue to collaborate through the ROHVA association in discussions with the CPSC regarding new UTV regulations.
BRP continues to expand their NA dealer network. They added 38 dealers in FY14 and 76 in FY15. Of the latter 76, 72 are carrying off-road vehicles and 31 are located in the South or Southwest. Dealer network coverage for ORV and Spyder has increased by 10%.??The management is targeting 200 to 300 new dealers in total by the end of FY17.??
Management is focusing not only on increasing the number of dealers but improving the quality with better showrooms, as well as increasing the number of BRP product lines that existing dealers are carrying.
Ramp up time for new dealers is averaging about 12 months, which is slower than expected but management appears satisfied with the quality of the dealers and is taking a long-term approach.
The company is continuing to invest in and shift manufacturing operations with an emphasis on their facilities in Mexico, which have lower production costs, are closer to ORV and water products market and a offer a good location for international shipping.
Their Queretaro facility in Mexico will build engines for ORVs and other products. BRP is investing $55 million in their Juarez II facility in Mexico which will handle new ORV growth and brings chassis painting in-house. The facility is expected to have enough capacity for their growth plans through at least FY2020.
Capital expenditures will increase significantly from $175 million in FY2015 to $200-220 million in FY2016.
Guidance for Year Round Products for FY2016 is an increase in revenues of 7%-11%.

ORV Related Growth Areas

Management is targeting the utility segment of the UTV market as a growth area and the biggest opportunity in the Year Round Products division.
Overseas, China represents a sizable off-road opportunity and BRP plans to increase the number of dealerships from 19 to 30 by the end of FY16.
Another growth area related to ORVs that is being targeted is in Parts, Accessories and Clothing which has grown at a CAGR of 12% over the last five years.

Comment:?? While not explicitly stated by the management, expect BRP to introduce new UTVs this year targeting the utility/work market segment. The challenge for the powersports UTV manufacturers is reaching the utility/work customers with their existing dealer networks. Some portions of this market segment is often reached by non-powersports distribution channels and involve different selling processes at which powersports dealers may not excel or be interested in pursuing. Nevertheless, the continued entry into other UTV segments by various powersports manufacturers as well as the expansion of dealer networks should help drive growth in the NA UTV market. Overseas, there are some currency and macro economic headwinds but BRP and other OEMs appear to be committed to the long term development of the ORV market.

CFMoto Hitting The Value Price Point

Posted on April 3, 2015 by Marc Cesare

The UForce 800 from CFMoto.

A recent article in PowerSports Business highlighted the popularity of CFMoto’s UForce 800 utility vehicle. Targeting the work segment, like ranches and farms, the UForce 800 offers features like a 62.5 hp,??V-twin-powered, 8-valve, 4-stroke liquid cooled engine with EFI, 3,500 lb winch, LED headlights, hydraulic disc brakes, AGM battery, 14″ ally wheels and 11 inches of ground clearance. A key to its popularity is the relatively low price point with an MSRP of $9,999 and $10,799 for the model with electronic power steering. CFMoto offers a lineup of work and recreational UTVs with prices ranging from $8,449 to $11,299. The company has been working with??Minnesota-based company KFI to provide popular aftermarket accessories for their vehicles but also plans on manufacturing their own in the near future. Learn more: ??Powersportsbusiness.com

Comment:?? The more well known brands in the UTV market have been able to consistently increase prices for their vehicles for a number of years, reflecting the strong demand for UTVs as well as ongoing improvements in the vehicle offerings. While the name brand vehicles continue to offer value even at their higher price points, they are providing space in the market for even more value oriented competitors in the $8,500 – $11,000 price range. ??CFMoto has found some success in this space as well as companies such as Kymco. Typically this success has been with work utility vehicles and some recreational use vehicles. However, the latter are not for the more hard-core sport or high performance recreational use. It’s all about buying a specific set of functionality combined with sufficient quality to get a job done for a reasonable price.

Club Car Offering Solar Panels

Posted on March 25, 2015 by Marc Cesare

New solar panel offering from Club Car.

Club Car is now offering rooftop solar panels for their 48-volt Precedent golf cars, Carryall utility vehicles and Villager LSVs. Customers will now be able to capture store and use solar power with the 100-watt Solar Drive Charging Panel Assembly. Club Car reports that “As a yearly average, the system generates 29 percent of the total energy required to drive eight miles per day in West Palm Beach, Fla.” Customer results may vary depending on how they use their vehicle and where they live. The panels measure 40 inches by 26 inches by 0.2 inches thick and weigh less than 6 pounds. The panels are impact resistant, ??have Teflon-like coating to protect the cells and??come complete with a controller, connector to the vehicle???s power supply, all necessary hardware and installation instructions. They can be user- or dealer-installed in about 20 minutes. Learn more: ??Golfcourseindustry.com

Comment:?? Club Car now joins GEM and Evergreen Electric Vehicles in offering a solar option for their vehicles. Evergreen and GEM also offers a SolarDrive product. GEM offers ??220 watt and 410 watt systems for $2,500 and $4,000 respectively. Pricing was not provided for the Club Car product.

New Small Task-Oriented Vehicle (STOV) Study from SVR Forecasts Significant Growth

Posted on March 11, 2015 by Marc Cesare

Small Task-Oriented Vehicle (STOV) market at the Edge ??Of Significant Transformation & Growth in Next Five Years

?????????????????????? In a new market study on the small vehicle market, Small Vehicle Resource (SVR), LLC predicts significant growth over the 2015-2019 period.?? The market research reveals four trends coming together that will result in market gains of between 8%-12% in the forecast period and an industry value in the range of $20-$25 billion at retail.?? These trends are:

Growing appreciation in a highly diverse market for the effectiveness of small vehicles specifically designed to meet individual segment needs (small, task-oriented vehicles (STOVs);

Superior product development in drive trains (AC electric plus the addition of EFI and hybrid drives in many new market segments) and automotive-type components, which heightens performance capabilities and raises the bar in the cost/benefit trade-off;

Critical improvement in distribution and sales systems that cater to manufacturers??? non-traditional markets???in conjunction with,

Increased use of the internet-based information to drive sales.

???Much better economic performance for the last three quarters of 2014 and a strong positive outlook for 2015, provides the launching pad for SVR???s positive forecast for 2015-2019,????? states Steve Metzger, SVR Managing Director.?? ???The drag on industry growth from the 2008/09 recession and subsequent slow recovery appears to be over,??? he went on to say.?? Further, Metzger explains, ???With the exception of fleet golf cars, where demand is stagnant at best, the privately-owned (primarily personal transportation vehicles), utility vehicle, and off road segments should all see gains in mid-single digits to low double digits range over the next five years.????? The report notes that the stability of the golf-related market offers to golf car manufacturers the cash flow breathing room to transition to non-golf segments.

Marc Cesare, SVR Managing Director adds,?? ???We put special emphasis on the off-road market in this report, because it has become the competitive vortex for golf car manufacturers seeking new markets, the powersports industry, and traditional manufacturers of work related utility vehicles.????? ???The spectrum of off-road solutions has greatly expanded,??? Cesare notes, ???as manufacturers seek growth by broadening their product lines and targeting market sub-segments with models tailored for specific end-use applications.???

The new study, the seventh in the series of studies produced by SVR since 2000, covers utility, off-road, and personal transportation vehicles, and fleet golf cars.

The study is entitled, ???The Small, Task-Oriented Vehicle Market: Greater Product Diversity Opens New Avenues of Market Competition???Trends from 2010; Forecasts to 2019.?? For additional, detailed information see our SVR STOV Market Study Brochure??or??contact:

Steve Metzger ??at ??smetzger@smallvehicleresource.com??or??(914) 293-7577

Delta-Q Technologies Launching New Charger for Burden Carriers & UTVs

Posted on March 9, 2015 by Marc Cesare

The new QuiQ 1500 battery charger from Delta-Q Technologies.

Delta-Q Technologies will be revealing their new QuiQ 1500 battery charger for electric burden carriers and utility vehicles at ProMat 2015 in March. ProMat??is the largest expo for manufacturing and supply chain professionals in North America.

The QuiQ 1500 is a higher power version of the original QuiQ 1000 that is found in many electric utility vehicles used in material handling. The QuiQ 1500 allows users to charge existing battery packs up to 30 percent faster than the QuiQ 1000 or equip machines with a bigger pack and still meet a 5- or 8-hour charging time requirement. The QuiQ 1500???s compact design matches the exact dimensions and mounting configuration of the existing QuiQ 1000, allowing swift replacement of any existing QuiQ charger. With a standard North American 110V AC power source, the QuiQ 1500 provides 1200 watts of output power, and at 220 or 230 VAC, 1500 watts of output power. The new charger will be available in 48V and 72V models. Sample units will be available in April 2015, with full production beginning in June 2015.

Learn more: ??PRWeb.com

Polaris Ranger Sponsors PRCA ProRodeo

Posted on March 9, 2015 by Marc Cesare

Polaris announced that the????Polaris Ranger will be the “Official UTV of the PRCA, the RAM National Circuit Finals Rodeo and Wrangler National Finals Rodeo.” The national sponsorship deal also includes the renaming of the??The Wrangler National Finals Rodeo to the “Wrangler National Finals Rodeo presented by Polaris RANGER”, and PRCA World Champions and all RNCFR champions will each receive a Polaris RANGER, as well as both of the Remuda Award winners. ??Learn more: ??Theprairiestar.com

Yamaha Viking VI Earns 2015 FinOvation Award

Posted on March 4, 2015 by Marc Cesare

The new Yamaha Viking VI EPS side-by-side.

The Yamaha Viking VI EPS side-by-side that earned a 2015 FinOvation Award from Farm Industry News magazine.

From the press release:

Yamaha Motor Corporation, U.S.A., was awarded the 2015 FinOvation Award from Farm Industry News magazine for its Viking VI Side-by-Side (SxS) utility vehicle. The FinOvation Award is designed to celebrate the spirit of innovation and recognize new products that have received the most interest from Farm Industry News readers. This is the second consecutive year Yamaha has received the award. In 2014, the premier Viking model that introduced the first true three-person seating capacity in a SxS vehicle earned a FinOvation Award.
???We???re honored to receive the FinOvation award for a second consecutive year,??? said Steve Nessl, ATV/SxS marketing manager, Yamaha Motor Corporation. ???It???s especially rewarding to know the award is based on positive responses from people who rely so heavily on their utility vehicles for day-to-day toughness, durability and performance in the field.??? Nessl accepted the award on behalf of Yamaha at the 50th Annual National Farm Machinery Show in Louisville.
In its report announcing the 2015 FinOvation Award winners, Farm Industry News wrote, ???Yamaha made a statement with the new Viking side-by-side. This machine offers six-person seating, more room for cargo and has a number of convenience features, including electronic power steering and differential lock.???
Yamaha introduced the Viking VI EPS six-person SxS in June 2014. The extended cab Viking VI combines Yamaha performance and durability with the comfort and convenience of a Viking???with maximum headroom, legroom and shoulder room for six occupants.
Similar to the three-seat Viking introduced in 2013, the Viking VI is made for tough off-road duty and features Yamaha???s industry-leading Ultramatic??? fully automatic transmission, On-Command?? four-wheel drive system, Electric Power Steering (EPS) and Yamaha???s proven and powerful 700cc-class engine. With 600-pounds hauling and 1,500-pounds towing, the Viking VI is made to be the toughest, hardest working and most off-road capable six-person SxS ever.
???We know farmers and ranchers demand the hardest-working and most dependable equipment for use on their operations,??? added Nessl. ???It???s rewarding to know the Viking models have earned their stamp of approval.???
Yamaha is committed to continually expanding its line of class-leading SxS vehicles and has recently unveiled the all-new Wolverine R-Spec. ???With the introduction of the Wolverine R-Spec, Yamaha is furthering its position in the growing multipurpose SxS segment of the off-road business,??? added Nessl. All of Yamaha???s ATV and SxS vehicles are being assembled in the U.S.A. at Yamaha???s factory in Newnan, Georgia, for worldwide distribution. Learn more: ??PRWeb.com

Club Car Awarded National Contract for Utility, Transportation & Golf Vehicles

Posted on March 4, 2015 by Marc Cesare

Carryall 2 Electric from Club Car is one of the vehicles covered by the newly awarded contract.

Club Car has won a national contract from U.S. Communities??for utility, transportation and golf vehicles and related accessories, equipment, parts and services. U.S. Communities is??the leading national government purchasing cooperative, providing government procurement resources and solutions to local and state government agencies, school districts (K-12), higher education institutes, and nonprofits looking for the best overall supplier government pricing.??More than 55,000 registered agencies, education institutions and nonprofits utilize U.S. Communities contracts to procure

The lead agency on the bid solicitation for the contract was the City of Kansas City, MO. This is the first time the organization has awarded a contract in this category and it is for three years with two one year renewal options. Vehicles covered in the contract include:

Carryall?? utility vehicles. (4x2s and automatic 4x4s and two- and four-passenger models.)
Carryall?? LSVs. Street-legal on roads with speed limits of 35 mph or less in most states.
Transporter??? transport vehicles. (Four- to eight-passenger.)
Villager??? transport vehicles. (Four- to eight-passenger.)
Precedent?? golf cars.
Caf?? Express hospitality vehicles.
Service parts factory direct.

Learn more: ??Virtual-strategy.com

Comment:?? This is a nice contract to win. It effectively shuts out the competition when the member agencies want to purchase these types of vehicles. They don’t have to put out request for proposals (RFP) and obtain quotes from multiple vendors. By avoiding the RFP process, purchasing through this contract makes the process faster for both the buyer and seller.

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