Nov. 29, 2010 – Finance Digest
November 29, 2010
Filed under Features
Yamaha’s North American ATV Sales on the Upswing
Yamaha’s North American sales rose in its recent quarter, thanks in part to elevated ATV sales.
Yamaha’s third-quarter ATV sales rose approximately 11 percent compared to a year ago, according to the company’s earnings report. Yamaha noted the increased ATV sales are partially a result of the company making inventory adjustments a year ago.
Yamaha’s overall North American sales rose nearly 25 percent for its quarter. However for the company’s first nine months of its fiscal year, its overall North American sales remain down, off nearly 9 percent compared to the prior year.
Wholesale motorcycle sales in North America remain sluggish for Yamaha. The company reported a sales total of 5,000 units during its most recent quarter.
Yamaha’s European motorcycle sales, through its first three quarters, have totaled 187,000 units, a decline of 17 percent.
However, the company’s overall sales rose in the third quarter by 11.5 percent. This came despite a negative impact by currency exchange.
Through nine months, the company’s net sales have improved by 15 percent.
Sparta Reports High Interest in New Subprime Lease Program
Sparta Commercial Services Inc. reported a strong early response from dealers to the company’s recent announcement of a new consumer lease program focusing on subprime customers.
“As soon as we revealed our plans for this program and the fact that the launch was imminent, we immediately began receiving inquiries and requests about and for the program from motorcycle dealers throughout the country, and the numbers far exceeded our expectations,”?Sparta CEO?Anthony Havens said in a press release.?“That reaction strongly reaffirmed our belief in the need and timeliness of this new program, and we plan to meet that demand as rapidly as possible.”
Sparta is launching the program initially in 12 states: Alabama, Arizona, California, Florida, Georgia, Nevada, North Carolina, North Dakota, Ohio, South Carolina, Texas and Utah. These states were selected from Sparta’s nationwide Authorized Sparta Dealer network based on an internal analysis of states with the heaviest projected demand. The company plans to expand the program to additional states in a phased rollout, with the order again based on projected demand and seasonal adjustments.
“The market segment that we’re addressing with this new program is the very large number of consumers whose credit worthiness isn’t necessarily poor, but simply can’t meet the ever more stringent requirements of other lenders,” Havens said.
Easton-Bell’s Industry Sales Rise in its Recent Quarter
Easton-Bell Sports Inc., a manufacturer of helmets and other sports equipment, reported a sales increase in its most recent quarter.
The Van Nuys, Calif.-based company reported sales of $198.8 million for its third quarter, a 10 percent rise over the year-ago period.
“Overall, we are pleased with our top line growth and margin improvement during this important quarter in the sporting goods equipment market,” Paul Harrington, Easton-Bell Sports’ CEO, said in a press release.
For its division that includes powersports, net sales rose 8 percent to $7.1 million. The increase was due to increased sales of powersports and snowsports helmets and goggles. PSB