Press release from Business Wire
GE Capital Finds Positive Outlook among Motorsports Dealers
Tuesday, November 12, 2013
GE Capital Finds Positive Outlook among Motorsports Dealers08:00 EST Tuesday, November 12, 2013
CHICAGO (Business Wire) -- The motorsports industry is positive about sales trends and excited about new product introductions, according to a survey conducted by GE Capital, Commercial Distribution Finance (CDF).
Thirty-seven percent of respondents anticipate sales growth of 5-10 percent, and 23 percent said 10-15 percent.
The most important trend in the motorsports industry today is the introduction of new products, according to 40 percent of respondents. Parts, garments and accessories (PG&A) were cited by 22 percent, and the growth of the pre-owned market by 16 percent.
“We saw plenty of new product innovation in just about every category at the recent American International Motorcycle Expo,” said Sameer Gaur, president of CDF's motorsports group. “The mood of the industry was certainly upbeat.”
The inaugural American International Motorcycle Expo (commonly called AIMExpo), held in Orlando, FL, was the industry's first combination trade and consumer event in North America.
“The industry is doing a great job of listening to customers and developing products to attract new riders,” said Sam Yourd, marketing manager of CDF's motorsports group. “At the same time, we're working to develop technology-based tools that allow people to spend more time in higher-value activities. We're focused on streamlined account management and simplified processes.”
When asked about the industry's greatest challenge, respondents cited the availability of retail financing (41 percent) and consumer spending (30 percent).
For more than 35 years and through all business and economic cycles, CDF has supported the motorsports industry. Inventory financing, also known as floorplan financing, is an important element of a successful manufacturer-lender-dealer business model. Manufacturers can focus on their core product development and production capabilities while dealers can focus on delivering products and services to consumers without having to worry about financing the inventory acquisition.
Those who'd like to learn more about the ways CDF helps customers manage their inventory can call a CDF representative at 800-451-5944 or visit the CDF web site: http://www.gecdf.com.
GE Capital's survey was conducted Oct. 16-17, 2013. A full 75 percent of respondents were dealers or retailers; the remainder were manufacturers, distributors and others.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided nearly $31 billion in financing for more than 33,000 dealers and 2,000 distributors and manufacturers in the U.S. and Canada in 2012. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management and related financial products. Customers have access to exclusive online tools and analytics to manage their accounts and inventory. For more information, visit http://www.gecdf.com/ or follow company news via Twitter (https://twitter.com/GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (https://twitter.com/GECapital).
GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
GE Capital, Americas
Lisa Tibbitts, 203-956-4582