EFG Companies Powersports Research Reveals New Motorcycle Dealer Profit Opportunity

DALLAS - EFG Companies revealed key market insights to drive dealership profitability through a third-party research survey of 1,000 consumers who purchased a pre-owned motorcycle within the last 24 months on their perceptions surrounding Certified Pre-Owned programs.

Key Findings:

95% said the availability of a CPO program would impact the dealer from which they purchased their motorcycle.

85% of respondents said they would find a complimentary CPO valuable as a benefit provided by the dealer.

Survey respondents placed a high dollar value on the complimentary program benefit – 63% valued the program between $500 - $1,000.

56% of survey respondents would drive over 30 miles, and 33% would drive over 50 miles to buy a motorcycle that included a complimentary CPO package.

71% of respondents had familiarity with CPO programs due to past purchases of cars and trucks.

65% of those respondents said the CPO program made a difference in their past purchasing decision.

Top 3 factors in deciding which bike to purchase:

• Price
• Condition of bike
• Bike mileage

About the Respondents:

2016 nationwide survey of 1,000 consumers who purchased a pre-owned motorcycle within the last 24 months

51% of respondents purchased their motorcycle directly from a dealership.

59% of the respondents paid cash for their motorcycle.

7% of respondents financed through the dealership to purchase for their motorcycle.

3% of respondents financed through an outside lender to purchase their motorcycle.