Nov. 30, 2009 – Hot News
November 30, 2009
Filed under News
An industry-wide aftermarket program for dealerships
A board meeting discussion has turned into an industry-wide effort to reinvigorate dealership traffic and hopefully elevate holiday aftermarket sales.
The national effort is called “Revive Your Ride” and was created to give dealers tools to boost holiday sales. The tools include promotional materials, which can be market-specific, and special aftermarket offers. The latter was still developing at press time but is expected to include offers from manufacturers and distributors.
The aftermarket program was borne out of a discussion at a Motorcycle Industry Council board meeting earlier this summer when new unit retail sales were languishing far below 2008 levels. Frank Esposito, president of Kendon Industries in Anaheim, Calif., said the sales slump and the effect it was having on the industry, both in and out of dealerships, was cause for concern.
“It was time to put our own companies and our own agendas aside and ask how can we come up with some type of program that was enticing for dealers and easy to participate in that shows a whole industry stepping up,” Esposito said, explaining the rationale for the program. “We are resource-restrained,” he said of the industry. “We are not going to have Cash for Clunkers. We don’t see the government coming in to help or rescue our industry. What are we going to do to help ourselves?”
A program designed to boost dealership traffic was the committee’s answer. Dealers can log onto www.mic.org/reviveyourride and get marketing materials as well as tips on what kind of special events to hold, possibly in conjunction with “Revive your ride.” The Web site also will provide the names of distributors or manufacturers who will provide special offers for the programs. Because that Web site is public, the specific offers will not be detailed online. However, dealers will be given access to a contact person and their phone number to contact the participating aftermarket company to find out that company’s program-specific offer.
There is no charge to dealers to use the online marketing materials. However, dealers will be responsible for funding the marketing for any “Revive your ride” events they hold. For more on the program, contact the Motorcycle Industry Council at 949/727-4211 X3057 or send an email to firstname.lastname@example.org.
Yamaha motor president resigns
After a dramatic tumble in Yamaha’s revised earnings projections for the year ending in December, Yamaha Motor President Takashi Kajikawa left his position Nov. 1, though he will still be on Yamaha’s board of directors, according to a company press release.
Yamaha’s revised earnings projections estimated a consolidated net loss of approximately $2 billion, compared to the previous forecast of nearly $465 million.
Yamaha Motor’s Chairman Tsuneji Togami is now president. Togami, 63, was senior managing director before becoming chairman in March 2007.
American IronHorse Property up for Sale
A firm specializing in the sale of intangible assets is working on a project involving American IronHorse Motorcycles, the company said in a press release.
The company, Streambank, said the intangible assets of American IronHorse Motorcycles, the Ft. Worth, Texas-based volume manufacturer of V-twin motorcycles, are for sale.
Streambank said it plans on completing a sale in January.
Yamaha dealers have new financing tool
Yamaha Motor Corp., U.S.A. has partnered with credit union CUDL to offer its dealers retail financing.
Initially this new option will be offered to Yamaha dealerships in Arizona, California, Oklahoma, Oregon, Pennsylvania, Tennessee, Utah, Vermont and Washington, with more states to be added afterward, reported the companies in a press release.
“Yamaha has developed an innovative partnership with CUDL that will provide our dealer partners with another retail finance option for their customers, particularly the millions of credit union members already in the CUDL network,” Ian Harper, Yamaha’s general manager of financial services, said in the release. “Through our exclusive relationship, CUDL will offer its unique service to Yamaha dealers at a reduced rate.”
New OEM?partnership announced at EICMA
Korean motorcycle manufacturer Hyosung has announced a new partnership with an American off-road vehicle manufacturer.
That off-road manufacturer, ATK Motorcycles, has built more than 15,000 motorcycles and ATVs in the past 25 years out of its Salt Lake City, Utah, location.
Taekwon Kim, the CEO of Hyosung, also known as S&T Motors, said during the EICMA show announcement that the partnership is a natural fit for both companies.
“By joining forces, we believe we can strengthen our distribution network, reduce our production costs, spread development costs and substantially accelerate our entry into the street bike business,” Kim said in a press release.