The powersports segment is one of the fastest-growing adventure categories globally in 2020. One of the reasons why the industry is seeing spikes in sales, even during a pandemic era, is the ability of these vehicles to go off-road for an independent adventure.
When you’re riding down a trail on your ATV, then social distancing isn’t something that you need to worry about while outside.
Side-by-sides and other off-road vehicles join ATVs in 2020 with a robust sales profile that suggests it could be one of the best years the industry has had since 2014.
How Can ATVs See Strong Growth During a Potential Recession?
Governments around the world shut down non-essential businesses starting in January to limit the spread of a new coronavirus. That process began in China, went to Europe, and now reaches most parts of the world as of April 2020.
Despite the challenges that a recession provides an economy, there are still essential workers who are pulling in larger paychecks than usual. Unemployment figures are on the rise, giving families more time to spend together.
The U.S. government is issuing stimulus checks to most households in the country that can contribute to the sale of an ATV. Qualifying individuals receive $1,200, which is enough to have a down payment for an off-road vehicle.
Married couples can receive up to $2,400.
Families with children get another $500 for each one living in the home. If you have enough kids, then your stimulus check could be enough to purchase an ATV in cash.
That means the off-road category for the powersports industry could grow by as much as 9% in 2020 when compared to last year’s figures.
Where Is the Positive Momentum for the Industry?
The initial numbers released for ATVs and other off-road vehicles shows a lot of strength from new provides like Kawasaki and Honda. Sales grew in this area for the first time since 2014. OEM product innovation is leading the way, with new safety features and equipment encouraging families to purchase these vehicles for the first time.
This outcome is happening at a time when highway-ready motorcycle sales are flat or declining while cruisers are seeing a surge of popularity. Off-road and dirt bikes are forecast to see a minimum of 10% growth for the 2020 sales year.
Expanded access to off-road trails is encouraging more vehicle purchases, especially in the United States. Americans can access over 440 different wilderness areas that provide over 150,000 miles to explore. Improvements to fuel efficiency while reducing carbon emissions attract new customers, especially with electric-powered alternatives for short-distance trips.
The Polaris MRZR 4 is an excellent example of the hybrid approach that off-road vehicle producers are taking to the infrastructure changes consumers are seeing. It offers better noise-damping capabilities, improved power, and fewer fuel costs to manage while operating.
If you are ready to have an adventure because you’re tired of being stuck at home, then consider purchasing an ATV. This investment can provide lots of family fun for years to come!