Here are a couple of stories that came across my desk that I think are relevant and interesting to the powersports business community.

1 – BRP Reports Fourth Quarter and Full-Year 2022 Results and Authorization of Substantial Issuer Bid

BRP Inc. (TSX: DOO, NASDAQ: DOOO) today reported its financial results for the three- and twelve-month periods ended January 31, 2022. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available on SEDAR and EDGAR as well as in the section Quarterly Reports of BRP’s website.

“We are extremely pleased with our fourth quarter performance which concluded an exceptional Fiscal 22. We delivered record annual results with revenues reaching over $7 billion for the first time in our history, despite operating in a volatile environment. We continued gaining market share in the powersports industry and attained record market share in the snowmobile, PWC, ATV and SSV segments. These results were driven by ongoing robust demand for our products and our team’s ability to navigate through supply chain disruptions,” said José Boisjoli, President and CEO.

“Looking ahead to Fiscal 23, we anticipate solid growth of 8% to 12% in diluted Normalized EPS. The first half of the year could prove to be more challenging given the global supply chain volatility. We are confident we can achieve our full year guidance based on sustained consumer interest in powersports, our strong product portfolio, including new product introductions, and the agility of our team,” added Mr. Boisjoli.

“Furthermore, we are very excited to announce today that our iconic Can-Am brand is returning to its motorcycle roots with a product line-up that will be completely electric, and the first models are expected to be available in mid-2024,” concluded Mr. Boisjoli.

[1] See “Non-IFRS Measures” section of this press release.


The Company has established its FY23 guidance as follows:

Financial MetricFY22FY23 Guidance[4] vs FY22
Year-Round Products$3,467.5Up 30% to 35%
Seasonal Products2,524.1Up 22% to 27%
Powersports PA&A and OEM Engines1,143.5Up 17% to 22%
Marine512.8Up 12% to 17%
Total Company Revenues7,647.9Up 24% to 29%
Normalized EBITDA[2]1,462.1Up 12% to 15%
Effective Tax Rate[2][3]25.4%26.0% to 26.5%
Normalized Earnings per Share – Diluted[2]$9.92Up 8% to 12% ($10.75 to $11.10)
Net income794.6~$900M to $925M
Other assumptions for FY23 Guidance
Depreciation Expenses:~$350M (Compared to $268M in FY22) 
Net Financing Costs Adjusted:~$72M (Compared to $60M in FY22)
Weighted average number of shares – diluted:~83.5M shares (Compared to 85.3M shares in FY22)
Capital Expenditures:~$675M to $700M (Compared to $698M in FY22)

FY23 Quarterly Outlook [4]
Following a strong fourth quarter in Fiscal 2022, we expect another solid year with a Normalized EBITDA[2] increase ranging from 12% to 15% compared to the previous period. The Company anticipates the incremental Normalized EBITDA [2] for the year will be generated during the last three quarters and will represent 30% growth compared to the last three quarters of FY22 as we anticipate supply chain constraints to subside while also benefiting from an increase in production capacity beginning in the second quarter.

[2] See “Non-IFRS Measures” section of the press release.
[3] Effective tax rate based on Normalized Earnings before Normalized Income Tax.
[4] Please refer to the “Caution Concerning Forward-Looking Statements” and “Key assumptions” sections of this press release for a summary of important risk factors that could affect the above guidance and of the assumptions underlying this Fiscal Year 2023 guidance.

Financial Highlights
Three-month periods endedTwelve-month periods ended
(in millions of Canadian dollars, except per share data and margin)January 31,2022January 31,2021January 31,2022January 31,2021January 31,2020
Gross Profit609.5501.92,132.21,472.31,454.0
Gross Profit (%)26.0%27.7%27.9%24.7%24.0%
Normalized EBITDA[5]416.4313.11,462.1999.0804.4
Net income (loss)209.6264.2794.6362.9370.6
Normalized net income[5]251.3162.8846.5477.0358.4
Earnings per share – diluted2.502.959.314.102.28
Normalized earnings per share – diluted [5]3.001.829.925.393.10
Weighted average number of shares – basic81,965,57787,440,71382,973,28487,519,85692,760,943
Weighted average number of shares – diluted83,691,77589,508,26385,259,52088,604,98493,813,815

The Company continued to experience supply chain related disruptions and inefficiencies in an increasingly inflationary environment when compared to the first nine months of Fiscal 2022 and the fourth quarter of Fiscal 2021. As a result, it limited the Company’s ability to replenish dealer inventories thereby limiting product availability in the network. Such supply chain related disruptions also resulted in an increased level of substantially completed units awaiting missing components throughout the second half of Fiscal 2022. Despite these challenges, the Company optimized the shipment of missing components to its dealer network resulting in a high conversion rate of substantially completed units available for retail, revised its production planning to favor the manufacturing of in season products, such as snowmobiles which, combined with strategic pricing initiatives, allowed it to achieve record high revenues during the fourth quarter of Fiscal 2022.

Revenues increased by $532.4 million, or 29.3%, to $2,347.5 million for the three-month period ended January 31, 2022, compared to the $1,815.1 million for the corresponding period ended January 31, 2021. The revenue increase was primarily driven by a higher wholesale volume across all product lines due to strong retail demand and favourable pricing mostly due to supply chain related surcharges. The increase was partially offset by an unfavourable product mix in Year-Round Products. The increase includes an unfavourable foreign exchange rate variation of $42 million.

  • Year-Round Products [6] (36% of Q4-22 revenues): Revenues from Year-Round Products increased by $93.4 million, or 12.3%, to $853.1 million for the three-month period ended January 31, 2022, compared to the $759.7 million for the corresponding period ended January 31, 2021. The increase was primarily attributable to a higher volume of ATV and SSV sold and favourable pricing on all products. The increase was partially offset by an unfavourable product mix of SSV. The increase includes an unfavourable foreign exchange rate variation of $8 million.
  • Seasonal Products [6] (45% of Q4-22 revenues): Revenues from Seasonal Products increased by $377.5 million, or 56.2%, to $1,048.9 million for the three-month period ended January 31, 2022, compared to $671.4 million for the corresponding period ended January 31, 2021. The increase was primarily attributable to a higher volume of snowmobiles and PWC, combined with a favourable mix of snowmobiles sold and a favourable pricing of PWC. The increase was partially offset by an unfavourable foreign exchange rate variation of $25 million.

[5] See “Non-IFRS Measures” section of this press release
[6] The inter-segment transactions are included in the analysis.

  • Powersports PA&A and OEM Engines [7] (13% of Q4-22 revenues): Revenues from Powersports PA&A and OEM Engines increased by $53.6 million, or 20.8%, to $310.7 million for the three-month period ended January 31, 2022, compared to the $257.1 million for the corresponding period ended January 31, 2021. The increase was mainly attributable to a higher volume of PA&A coming from strong unit retail sales and higher replacement parts revenue driven by an increased usage of products by consumers combined with a favourable pricing. The increase was partially offset by an unfavourable foreign exchange rate variation of $7 million.
  • Marine [7] (6% of Q4-22 revenues): Revenues from the Marine segment increased by $9.8 million, or 7.6%, to $139.0 million for the three-month period ended January 31, 2022, compared to $129.2 million for the corresponding period ended January 31, 2021. The increase was primarily due to a favourable mix of boats sold, partially offset by an unfavourable foreign exchange rate variation of $2 million.

North American Retail Sales
The Company’s North American retail sales for powersports vehicles decreased by 7% for the three-month period ended January 31, 2022 compared to the three-month period ended January 31, 2021. The decrease was mainly driven by limited product availability.

  • Year-Round Products: retail sales decreased on a percentage basis in the high-twenties range compared to the three-month period ended January 31, 2021.
  • Seasonal Products: retail sales increased on a percentage basis in the high single digit range compared to the three-month period ended January 31, 2021.
  • Marine: boat retail sales decreased by 20% compared with the three-month period ended January 31, 2021.

Gross profit
Gross profit increased by $107.6 million, or 21.4%, to $609.5 million for the three-month period ended January 31, 2022, compared to $501.9 million for the corresponding period ended January 31, 2021. The increase was primarily due to favourable volume and pricing. Gross profit margin percentage decreased by 170 basis points to 26.0% from 27.7% for the three-month period ended January 31, 2021. The decrease was attributable to higher logistics, commodities and labour costs due to inefficiencies related to supply chain disruptions, partially offset by higher volume.

Operating expenses
Operating expenses increased by $10.1 million, or 4.0%, to $262.9 million for the three-month period ended January 31, 2022, compared to $252.8 million for the three-month period ended January 31, 2021. This increase was mainly attributable to lower expenses in FY21 following cost reduction initiatives to mitigate the impact of COVID-19.

Normalized EBITDA [8]
Normalized EBITDA [8] increased by $103.3 million, or 33.0%, to $416.4 million for the three-month period ended January 31, 2022, compared to $313.1 million for the three-month period ended January 31, 2021. The increase was primarily due to higher gross profit, partially offset by higher operating expenses.

[7] The inter-segment transactions are included in the analysis.
[8] See “Non-IFRS Measures” section of the press release. 

Net Income
Net income decreased by $54.6 million to $209.6 million for the three-month period ended January 31, 2022, compared to the $264.2 million for the three-month period ended January 31, 2021. The decrease was primarily due to an unfavourable foreign exchange rate variation impact on the U.S. denominated long-term debt, partially offset by higher operating income.


Revenues increased by $1,695.0 million, or 28.5%, to $7,647.9 million for the twelve-month period ended January 31, 2022, compared to $5,952.9 million for the corresponding period ended January 31, 2021. The revenue increase was primarily due to higher wholesale across all product lines due to COVID-19 impact last year, lower sales programs due to a strong retail environment and favourable pricing combined with a favourable product mix of PWC, ATV and SSV. The increase was partially offset by an unfavourable foreign exchange rate variation of $287 million.

Normalized EBITDA [9]
Normalized EBITDA [9] increased by $463.1 million, or 46.4%, to $1,462.1 million for the twelve-month period ended January 31, 2022, compared to $999.0 million for the twelve-month period ended January 31, 2021. The increase was primarily due to higher gross profit, partially offset by higher operating expenses, when excluding the impairment charge relating to the Marine segment recorded in FY21.

Net Income
Net income increased $431.7 million to $794.6 million for the twelve-month period ended January 31, 2022, compared to $362.9 million for the twelve-month period ended January 31, 2021. The increase was primarily due to higher operating income, partially offset by a higher income tax expense, higher net financing costs and lower foreign exchange rate variation impact on the U.S. denominated long-term debt.


The Company generated net cash flows from operating activities totalling $770.0 million for the twelve-month period ended January 31, 2022 compared to $954.2 million for the twelve-month period ended January 31, 2021.

The Company used its liquidity primarily to invest in capital expenditures for $688 million to add production capacity and to acquire previously leased production facilities, as well as invested to modernize the Company’s software infrastructure to support future growth. The Company also partially repaid its Term B Loan for a net amount of approximately US$300 million and returned $726 million to shareholders through share repurchases and a quarterly dividend payout.

On May 4, 2021, the Company amended its $700.0 million revolving credit facilities to increase the availability to $800.0 million and to extend the maturity from May 2024 to May 2026 (the “Revolving Credit Facilities”). Subsequent to January 31, 2022, the Company amended again its Revolving Credit Facilities to increase total availability to $1,100.0 million and replace LIBOR references by SOFR references. The pricing grid and other conditions remained unchanged.

On March 24, 2022, the Company’s Board of Directors declared a quarterly dividend of $0.16 per share for holders of its multiple voting shares and subordinate voting shares. The dividend will be paid on April 18, 2022 to shareholders of record at the close of business on April 4, 2022.

[9] See “Non-IFRS Measures” section of this press release.


The Company announced today that the Board of Directors has authorized the launch of a substantial issuer bid (“SIB”) pursuant to which the Company will offer to purchase for cancellation up to $250 million of its subordinate voting shares. The Company anticipates that the offer will commence, and the terms and pricing will be determined, during the next two weeks and will be completed before the end of May 2022. The Company intends to fund the substantial issuer bid with a combination of cash on hand and drawings on existing credit facilities.

Under the proposed issuer bid, shareholders wishing to accept the offer will have the opportunity to tender their shares (i) by making an auction tender at a specified price per share within a range proposed by the Company (i.e. modified “Dutch auction”) and for a specified number of shares (an “Auction Tender”), or (ii) by making a purchase price tender without specifying a price per share, but rather agreeing to have a specified number of shares purchased at the purchase price to be determined by the Auction Tenders. The maximum and minimum prices to be proposed under the Dutch auction tender will be determined in the context of the market price of the Company’s subordinate voting shares at the time of commencement of the proposed issuer bid. The offer will not provide for any proportionate tenders. The offer will not be conditional upon any minimum number of shares being tendered and will be subject to conditions customary for transactions of this nature.

Holders of multiple voting shares will be entitled to tender the subordinate voting shares underlying their multiple voting shares in the proposed bid. Multiple voting shares taken up by the Company will be converted into subordinate voting shares on a one-for-one basis immediately prior to take up. As of March 23, 2022, the Company had 38,080,486 subordinate voting shares and 42,954,979 multiple voting shares issued and outstanding. All shares purchased under the offer will be cancelled.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell the Company’s shares. The offer referred to in this news release has not yet commenced. The solicitation and the offer to buy the shares will only be made pursuant to a separate issuer bid circular, which will contain full details of the offer and will be filed with the securities regulatory authorities and mailed to the Company’s shareholders.


Today at 9 a.m. EDT, BRP Inc. will host a conference call and webcast to discuss its FY22 fourth quarter. The call will be hosted by José Boisjoli, President and CEO, and Sébastien Martel, CFO. To listen to the conference call by phone (event number 2279047), please dial 1 (888) 440-2167 (toll-free in North America). Click here for International numbers.

The Company’s fourth quarter FY22 webcast presentation is posted in the Quarterly Reports section of BRP’s website.

About BRP
We are a global leader in the world of powersports vehicles, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on and off-road vehicles, Alumacraft, Manitou, Quintrex boats and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel business to fully enhance the riding experience. With annual sales of CA$7.6 billion from over 120 countries, our global workforce is made up of close to 20,000 driven, resourceful people. 

Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, Stacer, Savage and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

Certain statements in this press release, including, but not limited to, statements relating to our Fiscal Year 2023, including financial guidance and outlook and related assumptions of the Company (including revenues, Normalized EBITDA, Effective Tax Rate, Normalized earnings per share, net income, depreciation expense, net financing costs adjusted, weighted average of the number of shares diluted and capital expenditures), the Company’s ability to convert new entrants into life-long customers, statements relating to the anticipated additional production capacity and its plan to make strategic investments in new products, statements relating to the declaration and payment of dividendsstatements relating to the Company’s intention to undertake a substantial issuer bid and the terms thereof (including the maximum dollar value of subordinate voting shares the Company may purchase under the offer and the timing for launch and completion of the offer), our intention to launch a new product line, statements about the Company’s current and future plans, and other statements about the Company’s prospects, expectations, anticipations, estimates and intentions, results, levels of activity, performance, objectives, targets, goals or achievements, priorities and strategies, financial position, market position, capabilities, competitive strengths, beliefs, the prospects and trends of the industries in which the Company operates, the expected growth in demand for products and services in the markets in which the Company competes, research and product development activities, including projected design, characteristics, capacity or performance of future products and their expected scheduled entry to market expected financial requirements and the availability of capital resources and liquidities or any other future events or developments and other statements that are not historical facts constitute forward-looking statements within the meaning of Canadian and United States securities laws. The words “may”, “will”, “would”, “should”, “could”, “expects”, “forecasts”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “outlook”, “predicts”, “projects”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements.

Forward-looking statements are presented for the purpose of assisting readers in understanding certain key elements of the Company’s current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company’s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes; readers should not place undue reliance on forward-looking statements contained herein. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on a number of assumptions, both general and specific, as further described below.

Many factors could cause the Company’s actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the following factors, which are discussed in greater detail under the heading “Risk Factors” of its Annual Information Form: the impact of adverse economic conditions such as those resulting from the ongoing coronavirus (known as COVID-19) health crisis (including on consumer spending, the Company’s operations and supply and distribution chains, the availability of credit and the Company’s workforce); any decline in social acceptability of the Company’s products; fluctuations in foreign currency exchange rates; high levels of indebtedness; any unavailability of additional capital; any supply problems, termination or interruption of supply arrangements or increases in the cost of materials; any loss of members of the Company’s management team or employees who possess specialized market knowledge and technical skills; unfavourable weather conditions and climate change more generally; any failure of information technology systems or security breach; the Company’s international sales and operations; seasonal sales fluctuations; any inability to comply with product safety, health, environmental and noise pollution laws; the Company’s large fixed cost base; any inability of dealers and distributors to secure adequate access to capital; the Company’s competition in product lines; the Company’s inability to successfully execute its growth strategy; any failure to maintain an effective system of internal control over financial reporting and to produce accurate and timely financial statements;  any inability to maintain and enhance the Company’s reputation and brands; any significant product liability claim; any significant product repair and/or replacement due to product warranty claims or product recalls; the Company’s reliance on a network of independent dealers and distributors; the Company’s inability to successfully manage inventory levels; any intellectual property infringement and litigation; the Company’s inability to successfully execute its manufacturing strategy or to meet customer demand as a result of manufacturing capacity constraints; increased freight and shipping costs or disruptions in transportation and shipping infrastructure; any failure to comply with covenants in financing and other material agreements; any changes in tax laws and unanticipated tax liabilities; any impairment in the carrying value of goodwill and trademarks; any deterioration in relationships with employees; pension plan liabilities; natural disasters; any failure to carry proper insurance coverage; volatility in the market price for the Subordinate Voting Shares; the Company’s conduct of business through subsidiaries; the significant influence of Beaudier Inc., 4338618 Canada Inc. and Bain Capital Integral Investors II, L.P.; and future sales of Subordinate Voting Shares by Beaudier Group, Bain Capital, directors, officers or senior management of the Company. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Unless otherwise stated, the forward-looking statements contained in this press release are made as of the date of this press release and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities regulations. In the event that the Company does update any forward-looking statements contained in this press release, no inference should be made that the Company will make additional updates with respect to that statement, related matters or any other forward-looking statement. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The Company made a number of economic, market and operational assumptions in preparing and making certain forward-looking statements contained in this press release, including the following: reasonable industry growth ranging from slightly down to up high-single digits; market share that will remain constant or moderately increase; stable global and North American economic conditions and a limited impact from the military hostilities in Ukraine and the ongoing global health crisis; main currencies in which the Company operates will remain at near current levels; inflation is expected to remain elevated from strong demand, supply shortages and high energy prices, and is expected to gradually decline as central banks gradually increase interest rates; there will be no significant changes in tax laws or free trade arrangements or treaties applicable to the Company; the Company’s current margins will remain at current or improved levels; the supply base will remain able to support product development and planned production rates on commercially acceptable terms in a timely manner; no new trade barriers will be imposed amongst jurisdictions in which the Company carries operations; the absence of unusually adverse weather conditions, especially in peak seasons. BRP cautions that its assumptions may not materialize and that current economic conditions may render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty.

This press release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non-IFRS measures including the following:

DefinitionReason for use
Normalized revenuesRevenues before normalized elementsTo assist investors in determining the financial performance of the Company on a consistent basis by excluding elements such as wind-down costs which are considered not being reflective of the ongoing operational performance of the Company
Normalized gross profitGross profit before normalized elements
Normalized EBITDANet income before financing costs, financing income, income tax expense (recovery), depreciation expense and normalized elementsTo assist investors in determining the financial performance of the Company’s operating activities on a consistent basis by excluding certain non-cash elements such as depreciation expense, impairment charge, foreign exchange gain or loss on the Company’s long-term debt denominated in U.S. dollars and foreign exchange gain or loss on certain of the Company’s lease liabilities.Other elements, such as restructuring and wind-down costs, gain or loss on litigation and acquisition-related costs, may also be excluded from net income in the determination of Normalized EBITDA as they are considered not being reflective of the operational performance of the Company
Normalized net incomeNet income before normalized elements adjusted to reflect the tax effect on these elementsIn addition to the financial performance of operating activities, these measures consider the impact of investing activities, financing activities and income taxes on the Company’s financial results
Normalized income tax expenseIncome tax expense adjusted to reflect the tax effect on normalized elements and to normalize specific tax elements
Normalized effective tax rateBased on Normalized net income before Normalized income tax expense
Normalized earnings per share – basic & dilutedCalculated respectively by dividing the Normalized net income by the weighted average number of shares – basic and the weighted average number of shares – diluted

The Company believes non-IFRS measures are important supplemental measures of financial performance because they eliminate items that have less bearing on the Company’s financial performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS measures. The Company also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. Management also uses aforementioned non-IFRS measures in order to facilitate financial performance comparisons from period to period, prepare annual operating budgets, assess the Company’s ability to meet its future debt service, capital expenditure and working capital requirements and also as a component in the determination of the short-term incentive compensation for the Company’s employees. Because other companies may calculate these non-IFRS measures differently than the Company does, these metrics are not comparable to similarly titled measures reported by other companies.

The Company refers the reader to the table below for the reconciliations of the non-IFRS measures presented by the Company to the most directly comparable IFRS measure.

Reconciliation Tables
The following table presents the reconciliation of Net income to Normalized net income [1] and Normalized EBITDA [1].
Three-month periods endedTwelve-month periods ended
(in millions of Canadian dollars)January 31,2022January 31,2021January 31,2022January 31,2021January 31,2020
Net income$209.6$264.2$794.6$362.9$370.6
Normalized elements
Foreign exchange (gain) loss on long-term debt and lease liabilities48.4(103.0)(13.3)(121.8)10.4
Transaction costs on long-term debt [2]44.312.7
Transaction costs and other related expenses [3]
(Gain) loss on NCIB21.3(12.2)
Evinrude outboard engine wind-down [4](1.3)2.00.496.1
Depreciation of intangible assets related to business combinations1.
Restructuring and related costs [5](0.1)7.51.7
Gain on lease termination [6](8.7)(8.7)
Gain on disposal of property, plant and equipment(12.7)
Gain on litigation(4.0)(40.0)
COVID-19 pandemic impact [7](1.7)10.6
Impairment charge [8]177.1
Other elements1.
Income tax adjustment [9]1.2(5.8)(45.7)8.3
Normalized net income [1]251.3162.8846.5477.0358.4
Normalized income tax expense [1]77.960.7287.9167.1126.8
Financing costs adjusted [1] [10]
Financing income adjusted [1] [10](0.3)(2.7)(3.8)(7.6)(2.2)
Depreciation expense adjusted [1] [11]73.566.1268.1255.2230.5
Normalized EBITDA [1]$416.4$313.1$1,462.1$999.0$804.4

[1] See “Non-IFRS Measures” section.
[2] During Fiscal 2022, the Company incurred a prepayment premium of $15.1 million and derecognized unamortized transaction costs of $29.2 million related to the full repayment of its outstanding U.S. $597.0 million Term Loan B-2.
[3] Costs related to business combinations.
[4] The Company incurred costs related to the wind-down of the outboard engine production such as, but not limited to, idle costs and other exit costs.
[5] The Company is involved, from time to time, in restructuring and reorganization activities in order to gain flexibility and improve efficiency. The costs related to these activities are mainly composed of severance costs and retention salaries.
[6] During Fiscal 2022, the Company acquired its two leased facilities in Mexico. The derecognition of related right-of-use assets and corresponding lease liabilities generated a $8.6 million gain on lease termination.
[7] Incremental costs associated with the COVID-19 pandemic such as, but not limited to, labour cost related to furloughs.
[8] During the twelve-month period ended January 31, 2021, the Company recorded an impairment charge of $177.1 million related to its Marine segment.
[9] Income tax adjustment is related to income tax on Normalized elements subject to tax and for which income tax has been recognized, offset by unrecognized tax benefits related to Evinrude outboard engine wind-down.
[10] Adjusted for transaction costs on long-term debt and normal course issuer bid program (“NCIB”) gains and losses in net income.
[11] Adjusted for depreciation of intangible assets acquired through business combinations.

The following table presents the reconciliation of Revenues to Normalized revenues [1] and Gross profit to Normalized gross profit [1].

Three-month periods endedTwelve-month periods ended
(in millions of Canadian dollars)January 31,2022January 31,2021January 31,2022January 31,2021January 31,2020
Evinrude outboard engine wind-down [2](1.8)(9.6)(7.5)31.9
Normalized revenues [1]$2,345.7$1,805.5$7,640.4$5,984.8$6,052.7
Gross profit$609.5$501.9$2,132.2$1,472.3$1,454.0
As a percentage of revenues26.0%27.7%27.9%24.7%24.0%
Evinrude outboard engine wind-down [2]
COVID-19 pandemic impact [3](1.7)10.6
Normalized gross profit [1]$610.0$502.3$2,140.1$1,549.2$1,454.0
As a percentage of Normalized revenues26.0%27.8%28.0%25.9%24.0%

[1] See “Non-IFRS Measures” section.
[2] The Company incurred costs related to the wind-down of the outboard engine production such as, but not limited to, idle costs and other exit costs.
[3] Incremental costs associated with the COVID-19 pandemic such as, but not limited to, labour cost related to furloughs.

2 – New, Focused Honda Pioneer 1000 Trail, Forest Versions Unveiled for 2022From Honda

March 29, 2022 — TORRANCE, Calif.

  • Updates to Pioneer 1000 family improve driving experience
  • Midsize Pioneer 700 also returns for new model year

As a part of a huge 2022 model-year powersports product announcement, Honda today revealed the bulk of its rec/utility side-by-side lineup, including the improved Pioneer 1000 platform and the returning midsize Pioneer 700. (The entry-level Pioneer 500 and Pioneer 520 were announced in November.)

Headlining the announcement is the popular Pioneer 1000. Always noted for its outstanding versatility, Honda’s flagship rec/utility side-by-side is offered in a pair of more specialized iterations for 2022, delivering rewarding drive experiences for customers who have narrower application preferences. The Pioneer 1000 Trail delivers dynamic outdoor excursions with family and friends, and the Pioneer 1000 Forest facilitates other interests like hunting and fishing. Both versions come with an array of factory-installed accessories. Honda also continues to offer the versatile Pioneer 1000 Deluxe, as well as the value-conscious Pioneer 1000 EPS. All Pioneer 1000 side-by-sides are available in three- and five-person configurations, and the entire eight-version offering benefits from new improvements that make owning and driving these vehicles even more enjoyable. Meanwhile, the new model year also sees the return of the four-version Pioneer 700 family.

“When it comes to rec/utility side-by-sides, Honda has the needs of every powersports customer covered,” said Brandon Wilson, American Honda Manager of Sports & Experiential. “The Pioneer 1000 is the most technology-laden flagship rec/utility platform on the market, and it’s even better now, thanks to important upgrades. Best of all, the new Trail and Forest versions deliver even more enjoyment for customers seeking specific experiences. Add in the returning Pioneer 700, plus the previously announced Pioneer 520 and 500, and you have an unbeatable lineup. For 2022, life is even better side-by-side.”

The Pioneer 1000 and Pioneer 700 families will both be available beginning in April.

For rec/utility side-by-side enthusiasts who enjoy sporty experiences like tackling flowing sections of two-track or exploratory trips in remote locations, the Pioneer 1000 Trail fits the bill. Available in three- and five-seat versions and designed for those who enjoy chasing adventures with family and friends, the Trail prioritizes comfort and convenience via FOX Quick Switch shocks, a 4,500-pound-capacity winch, aluminum cut-contrast wheels, a ROPS-mounted rear-view mirror for keeping track of other drivers, an in-bed accessory outlet and other features that deliver outdoor fun. Platform-wide Pioneer 1000 improvements include increased power, a smoother-shifting automatic Dual Clutch Transmission, added storage and beverage holders, better door nets, a new meter, easier accessory integration and more.

  • Color: Matte Silver
  • MSRP
    • Pioneer 1000 Trail: $20,099
    • Pioneer 1000-5 Trail: $21,499
  • Info

Some rec/utility side-by-side owners use their vehicles primarily as a means of pursuing other passions, such as taking buddies to a secret fishing spot in thick woods or pursuing a hunting trophy in the rugged mountains. Both the three- and five-seat versions of the Pioneer 1000 Forest are equipped with features like a winch, black aluminum wheels, dual bed lights to facilitate finding gear in low-light conditions, and an in-bed accessory outlet to power electrical devices. Self-leveling rear suspension adjusts to varying cargo loads, like when an eight-point buck doubles the cargo weight for the drive back to the truck.

  • Color: Honda Phantom Camo
  • MSRP
    • Pioneer 1000 Forest: $20,099
    • Pioneer 1000-5 Forest: $21,499
  • Info

While some owners pursue specialization, others prioritize versatility, and Honda continues to embrace the “work hard, play hard” ethos that has always been integral to the Pioneer 1000 platform. Hence the adaptable Pioneer 1000 Deluxe, offered in three- and five-seat configurations. Both do-it-all machines are equipped with KYB shocks that have dual-rate front springs and triple-rate rear springs, and the five-person version features self-leveling rear suspension. (The rear shocks on the three-person version have adjustable preload.)

  • Colors
    • Pioneer 1000 Deluxe: Red; Olive; Gray Resin
    • Pioneer 1000-5 Deluxe: Red; Olive; Reactor Blue
  • MSRP
    • Pioneer 1000 Deluxe: $18,099
    • Pioneer 1000-5 Deluxe: $19,499
  • Info

When value is the top purchasing consideration, one needs look no further than the three- and five-seat Pioneer 1000 EPS. Benefitting from the platform-wide improvements like increased power, transmission updates, beverage holders, new meter, door nets and more, these vehicles are outfitted with steel 14-inch wheels.

  • Colors: Red; Olive
  • MSRP
    • Pioneer 1000 EPS: $16,699
    • Pioneer 1000-5 EPS: $18,099
  • Info

Starting with the standard Pioneer 700 and adding a mix of eye-catching and performance-enhancing features like painted plastic, aluminum wheels, Electric Power Steering (EPS) and color-matched suspension springs, the Deluxe version also lets drivers switch between automatic and manual shifting. Available as a two-seater or a four-seater.

  • Colors
    • Pioneer 700 Deluxe: Honda Phantom Camo; Pearl Red
    • Pioneer 700-4 Deluxe: Honda Phantom Camo; Matte Molasses Brown
  • MSRP
    • Pioneer 700 Deluxe: $12,699 ($12,899 Honda Phantom Camo)
    • Pioneer 700-4 Deluxe: $14,099 ($14,299 Honda Phantom Camo)
  • Info

The midsize Pioneer 700 is just right when it comes to striking a balance between scale and capability in a capable rec/utility side-by-side. Highly versatile, this 675 cc, single-cylinder four-stroke-powered vehicle is designed for work or play, and it’s offered in both two- and four-seat configurations.

  • Color: Olive
  • MSRP
    • Pioneer 700: $11,099
    • Pioneer 700-4: $12,499
  • Info

# # #

Editors: Additional information and assets can be found at

3 – Honda Unveils 12 Motorcycle Models in Broad-Ranging AnnouncementFrom Honda

March 29, 2022 — TORRANCE, Calif.

  • Five different motorcycle categories represented
  • Announcement includes 2022 and 2023 year models

Today’s new-and returning-model announcement from Honda is a reminder of the remarkable array of two-wheel products the company produces. Covered in the reveal are no fewer than 12 models from five different categories including sport, miniMOTO, dual sport, scooter and trials – not to mention the side-by-side models that were unveiled separately today.

Headlining the announcement is the legendary CBR1000RR-R Fireblade SP, which in 2022 adopts important new performance upgrades to celebrate the 30th anniversary of the Fireblade’s original introduction in Europe (followed a year later in the U.S.). Returning for 2022 are the CBR650R sport bike and CB650R naked bike, both of which come standard with ABS. On the miniMOTO front, the 2023 edition of the popular Grom is back, as is the 2022 edition of the retro Trail 125. The PCX also returns for 2022, continuing as the benchmark model among scooters, and joined by the 2023 Ruckus. Three dual-sport machines were also announced – the incredibly popular CRF300L; its adventure-focused sibling, the CRF300L Rally; and the classic XR650L, the latter in a new color. In addition, a pair of upgraded Montesa Cota trials machines – the choice of FIM Trials World Champion Toni Bou – are offered to U.S. customers for the new model year.

“We recognize that motorcycling comes in many forms, a fact that is reflected in today’s announcement,” said Brandon Wilson, American Honda Manager of Sports & Experiential. “The models included are each unique, but they share a commitment to delivering the enjoyment of two-wheel recreation. We’re proud of the disparate nature of the motorcycling community, and we’re happy to serve all of its members in 2022 and beyond.”

To celebrate the original, groundbreaking CBR900RR and a record of continuous challenges since the introduction of that game-changer, Honda offers a stunning 30th Anniversary version of the CBR1000RR-R Fireblade SP. For 2022, development of this model’s inline four-cylinder engine centers on mid-corner acceleration: the intake ports, airbox, airbox funnels and exhaust mid-section are all revised to deliver extra midrange power. The final-drive sprocket has gone up three teeth for stronger acceleration through each ratio, and quick-shifter performance has been upgraded. Honda Selectable Torque Control (HSTC) has also been optimized, with feedback from HRC’s riders, for refined rear-tire traction management, and throttle feel has improved even further.

  • Color: Pearl White
  • MSRP: $28,900
  • Availability: July
  • Info

2022 CBR650R
Designed to be appreciated on the street, but drawing inspiration from the supersport realm, the CBR650R excites riders with its sharp lines, complete bodywork and corner-carving abilities, but it also delivers comfort, practicality and value. A full-fairing sport variant of the standard CB650R, this model has a high-quality Showa Separate Function Big Piston fork, stylish aesthetics and excellent emissions performance. With a finely tuned chassis delivering light, responsive handling, and a high-revving inline four-cylinder engine that offers enjoyable power, the CBR650R is exciting to ride and a pleasure to own, a gratifying intersection of values for the modern sport bike rider.

  • Color: Matte Black Metallic
  • MSRP: $9,799
  • Availability: August
  • Info

2022 CB650R
Honda’s iconic CB moniker evokes a proud legacy of middleweight machines that boast user-friendly four-cylinder engines mated to nimble, confidence-inspiring chassis. That’s also an accurate description of the CB650R, which features a Showa Separate Function Big Piston fork, excellent emissions performance, striking aesthetics and comfortable ergonomics. Showcasing Honda’s Neo Sports Café design theme through its smooth lines and compact packaging, the CB650R is a popular and enjoyable naked bike that builds on the CB history of catering to diverse riding experiences, from daily commutes to exhilarating outings on tight, twisting backroads.

  • Color: Matte Black Metallic
  • MSRP: $9,299
  • Availability: September
  • Info

2022 TRAIL 125
When it comes to fun, approachable, popular miniMOTO models, no manufacturer even comes close to Honda, and the Trail 125 is a prime example of one such machine that also pays tribute to the past. The model harkens back to a golden era of motorcycling when there was seemingly a CT model on the bumper rack of every motor home but, like Honda’s nostalgic Monkey and Super Cub, it also incorporates the modern joys of practical design and hassle-free technology. Compared to the urban-focused Super Cub on which it is based, the Trail 125 has a number of rugged upgrades, making it ideal for casual trekking on- and off-road.

  • Color: Glowing Red
  • MSRP: $3,999
  • Availability: April
  • Info

2022 PCX
Honda’s PCX is the ultimate tool for tackling urban environments in style, continuing to set the standard for scooter design and technology. Equipped with a freeway-capable engine, the PCX is equally suitable for new riders and more experienced customers, delivering performance, fuel economy, great handling, a comfortable ride and simple operation – all attributes that are vital in the scooter category.

  • Color: Pearl White
  • MSRP
    • PCX: $3,899
    • PCX ABS: $4,099
  • Availability: April
  • Info

2022 CRF300L
The motorcycle industry’s top-selling dual-sport model, the CRF300L boasts strong power, low weight and excellent on- and off-road performance, while also delivering unparalleled value, reliability and styling. The model has a broad powerband, predictable handling and aesthetic cues that are carried over from Honda’s CRF Performance line, and it’s available in standard and ABS versions, both of which are ready to provide low-cost transportation and true dual-sport adventure.

  • Color: Red
  • MSRP
    • CRF300L: $5,349
    • CRF300L ABS: $5,649
  • Availability: April
  • Info

2022 CRF300L RALLY
Based on the standard CRF300L, but with comfort-focused upgrades including hand guards, more fuel capacity and a frame-mounted wind screen, the CRF300L Rally evokes images of the Dakar Rally while delivering practicality and value. More suitable for long-distance adventuring than its standard sibling, the Rally version is also a stellar commuter.

  • Color: Red
  • MSRP
    • CRF300L Rally: $6,099
    • CRF300L Rally ABS: $6,399
  • Availability: April
  • Info

2022 XR650L
Yes, the XR650L has been a familiar part of Honda’s lineup for many years, but there’s a reason the tried-and-true dual-sport model continues to be popular with customers. It’s highly adaptable, opening the door to adventure on single-track trails, dirt roads and backroads, while also delivering capable transportation in the city. The natural result of those characteristics – plus a proud Baja heritage – is a diehard following of riders, who will be pleased to know that the model has received a styling facelift for 2022.

  • Color: White
  • MSRP: $6,999
  • Availability: April
  • Info

The latest evolution of Montesa’s versatile 259 cc platform, this model acquires the “R” suffix for 2022, indicating its more competition-ready specifications. Upgrades include a switch to Showa suspension components, as well as a larger aluminum muffler that delivers increased horsepower across the rev range. The 4RT260R also gets new graphics and a striking black color.

  • Color: Black
  • MSRP: $9,199
  • Availability: May
  • Info

Montesa’s most competition-focused model, the 4RT301RR Race Replica is the pinnacle of trials performance. Powered by a 298 cc four-stroke engine and touting Showa suspension components and a white Repsol livery, the model is the choice of trials legend Toni Bou – intended for competition use only.

  • Color: White
  • MSRP: $11,799
  • Availability: May
  • Info

2023 GROM
The undisputed emperor of the miniMOTO world and the spawner of a vibrant subculture of fun-seekers, Honda’s Grom inspires a cross-demographic army of enthusiasts who embrace the diminutive model with remarkable passion. Its low seat height and approachability make it an unintimidating option for new riders to learn with, while its modular styling and peppy performance make it an entertaining plaything for experienced riders and a customization platform for those looking for an amusing project. It’s no wonder that the Grom continues to be one of the powersports industry’s most popular motorcycle models.

  • Colors
    • Grom: Matte Black Metallic; Cherry Red; Force Silver Metallic
    • Grom ABS: Pearl White
  • MSRP
    • Grom: $3,499
    • Grom ABS: $3,799
  • Availability: April
  • Info

When it comes to little two-wheelers that ooze personality and attitude, it’s tough to top Honda’s unique Ruckus®, the model that launched an entire scooter-customization subculture. With an exposed frame and dual round headlights contributing to an industrial-looking design, plus practical features like reliability, fuel efficiency and nimble handling, the Ruckus a great choice as a platform for personalization or affordable, around-town transportation.

  • Colors: White/Metallic Blue; Gray; Metallic Blue/Tan
  • MSRP: $2,899
  • Availability: April
  • Info

# # #

Editors: Additional information and assets can be found at

4 – First dealer education session at 2022 Accelerate Conference in Orlando revealedFrom Powersports Business

The 2022 Powersports Business Accelerate Conference has announced its first educational session of the event, being held Nov. 14-16 at the Caribe Royale Resort in Orlando.

Justin Johnson, dealer principal at St. Paul Harley-Davidson and Wild Prairie Harley-Davidson in Minnesota, will share his dealership team building knowledge with attending dealers and industry members in a session titled: “Want to grow your dealership? Grow your team first!”


5 – Drag Specialties adds new Northeast sales rep with flat track flairFrom Powersports Business

Drag Specialties has named Mike McKee as sales rep for the Northeast region, handling dealerships in central Pennsylvania.

McKee brings 15 years of experience at the dealership level managing parts, service and inventory for multiple locations. He also has a long history of racing flat track as well as pleasure riding. His current favorite ride is his 1998 Sportster. 

Mike McKee

In his free time, McKee enjoys spending time with his family at their various sporting events that include everything from football to fishing.

6 – Powersports Business TikTok passes 1,000 viewersFrom Powersports Business

Still haven’t joined the craze and started your dealership’s own TikTok? As we have witnessed at Powersports Business, there’s plenty of room for you to hop on board.

The Powersports Business TikTok surpassed 1,000 (!) viewers over the weekend thanks to coverage from the Donnie Smith Show in St. Paul.

The PSB TikTok launched last month at the urging of several members of the North Carolina Motorcycle Dealers Association in Durham in a moment of enlightening! And with Duke and North Carolina now in the NCAA Final Four, the PSB TikTok has had the mojo going from the outset.

See what’s happening at the link below.

7 – The Risk Racing J.A.C.V3 Motocross Goggles

Whether joyriding the trails or conquering the track, the J.A.C.V3 Motocross Goggles by Risk Racing have rider’s eyes covered for all their dirt bike and motocross needs. 

The J.A.C.V3 is a roll-off/tear-off-style goggle with every feature one could want to keep vision clear. When utilizing the roll-off lens, pull the roll string with confidence to clear mud, dust, dirt, rocks and debris that threatens visibility.  The J.A.C.V3 goggles come out of the box with a roll-off lens equipped with roll-off canisters and a roll of film. Pair it with the patented RIPPER, RISK’s automated goggle roll-off system, and advance film without taking your hands off the bars.

Quick change your lens and choose to run these goggles with tear-offs. RISK offers both clear and mirrored tinted tear-off lenses as accessories. The tear off lenses have three tear-off pins to help ensure they stay where you put them and don’t get ripped off by roost. RISK J.A.C.V3 tear-off lenses feature a uniquely designed rain/mud guard. More commonly seen on roll-off goggles, RISK sees the benefits for tear-offs as well. The tear-offs sit underneath a thin, flexible layer of Lexan, which prevents moisture and grime from getting underneath or in between the tear-off layers: a very unique feature for tear-off goggles.

The J.A.C. lenses are far from your average goggle lens. They are injection-molded polycarbonate and shaped specifically for the frame of the J.A.C.V3. This molding technique offers superior vision clarity as well as durability and easy lens swaps. 

Replacement lenses are available so users can freshen up their vision or swap out to a tinted lens. The tinted lenses offer UVA, UVB and UVC filters built into the lens. These filters provide 99.9% protection against harmful ultraviolet (UV) rays and reduce glare from the sun, making it easier to see on bright days. The mirrored tint provides the basics for glare and bright conditions while also giving the rider that mysterious look. Additionally, every lens is treated for anti-fog and scratch resistance. 

All that lens tech is matched by the J.A.C.V3 frame and strap design. The 50-millimeter, silicon-backed goggle strap ensures the goggles maintain their position on the helmet. The multi-layered foam/felt lamination conforms to the riders’ face, creating a tight seal that safeguards the eyes from dirt and dust while also absorbing sweat. The frame is designed to maintain proper venting to reduce moisture buildup and fog on the lens, and it has a removable nose guard.

Finally, the J.A.C.V3 Goggles come with a fully printed microfiber goggle bag that is good for storage and lens cleaning. This goggle package might be the best value on the market, but that is up to the rider and their eyes to decide. Now, go joyride and conquer! 

The J.A.C.V3 Motocross Goggles retail for $74.99. Ask for them at your local dealer or find them at


After becoming part of the PIERER Mobility AG in 2013, Husqvarna Motorcycles entered its most successful era in nearly 120 years of motorcycle production. An increased presence in diverse motorcycle segments and markets has seen the brand sell more than 300,000 units since the acquisition, setting another sales record of 60,801 units in 2021. Racing continues to play a key role in both machine development and market awareness. To date, Husqvarna Motorcycles has won 108 international competition titles, with the most recent being Billy Bolt’s crowning as 2022 FIM SuperEnduro World Champion.  

A number of new machines contributed to Husqvarna Motorcycles’ latest sales successes.

The flagship launch of 2021 was the Norden 901 travel motorcycle, underlining Husqvarna Motorcycles’ resolve to strengthen its presence in the street segment. Inspired by the brand’s multi-terrain Rally machines, the Norden 901 is built to cover long distances across challenging, diverse landscapes, on-road and off.

The first quarter of 2021 also saw the arrival of the Svartpilen 125, extending the appeal of the intelligently designed and ruggedly styled single-cylinder street series to an even wider audience.

Along with the launch of these models, the brand set out its objectives in the world of e-mobility with the introduction of various e-concepts at the beginning of 2021. This commitment to emerging technology yielded immediate results, with Husqvarna Motorcycles winning the inaugural Junior E-Motocross series, that was introduced in cooperation with Infront Moto Racing in 2021. The ground-breaking series will continue in 2022 with five rounds within the MXGP World Championship.

Together, these launches and achievements show Husqvarna Motorcycles’ continued dedication to growth and expansion into new sectors, markets, and the brand anticipate another successful year.

9 – Arrowhead Engineered Products Acquires Best4Forst

Blaine, MN – March 7, 2022 Arrowhead Engineered Products (Arrowhead), a global leader in aftermarket parts distribution, today announced the acquisition of Best4Forst, a firm serving the European market with forestry and outdoor power equipment parts. The product range extends from robomowers to commercial logging equipment. Founded in Austria in 2007, the company has experienced fast growth as a distributor for Husqvarna, Stihl and other well-known manufacturers. Best4Forst is currently headquartered in St. Pölten near Graz in Austria.

This acquisition, combined with Arrowhead’s global distribution footprint and strong financial growth strategy, gives a wider selection of quickly available products to our customers.

About Arrowhead Engineered Products
Arrowhead Engineered Products is the leading global engineer and omni-channel distributor of non-discretionary, proprietary branded, aftermarket replacement parts. The Company leverages data and digital capabilities to provide mission critical parts for outdoor power equipment, powersports, specialty vehicles, agriculture, and other diverse markets. With distribution and sourcing locations in North America, Europe and Asia, Arrowhead Engineered Products employees service over 90,000 customers globally. Visit for more information.

Arrowhead Engineered Products is majority owned by Genstar Capital, a leading private equity firm that has been actively investing in high quality companies for over 30 years. Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the industrials, financial services, healthcare, and software industries.

10 – Dealership gets new owner due to retirementFrom Powersports Business

The latest buy-sell transaction in the dealership space comes in the waning days of Q1 2022, when the 11th such acquisition of the year has happened.

Powersports Business has learned that American Road Group (ARG) purchased Pocono Mountain Harley-Davidson in Tannersville, Pennsylvania, on March 29, from Jim and Linda Schlier.


11 – Rosacker promoted to VP Sales at EPG Brand Acceleration – From Powersports Business

Longtime Powersports Business sales guru Mark Rosacker has been named VP of Power Trade Sales at EPG Brand Acceleration, the parent company of a host of brands that includes PSB.

With the new role, Rosacker adds the OPE Business and Boating Industry brands to his lineup that also includes Snow Goer.


12 – Specialty Vehicle Institute of America Elects 2022 Officers

The Specialty Vehicle Institute of America Board of Trustees has elected a new slate of officers. Colin Miller of American Honda Motor Co., Inc. was elected board chair; Ryan Stiver of Yamaha Motor Corporation, U.S.A. was elected vice chair; and Landon Ball of Textron Specialized Vehicles was elected secretary/treasurer.

“This is a remarkable time for outdoor recreation and SVIA provides the opportunity for our industry to collaborate and ensure that ATV riders have access to first-rate rider education and public riding areas,” Miller said.

Four additional trustees complete the board: Alexandre Borduas of BRP, Inc.; Russ Brenan of Kawasaki Motors Corp., U.S.A.; Michael Mitchell of Polaris Inc.; and Chase Rastegar of Suzuki Motor USA, LLC. In addition, SVIA member company CFMOTO Powersports, Inc. is represented by Eric Fan.

“We’re grateful for the ongoing work and support of our SVIA trustees and member companies as we head into another spring and summer of ATV riding across the nation,” said Erik Pritchard, SVIA president and CEO. “Through the ATV Safety Institute, formal training about safe and responsible ATV use is available across America.”

The Specialty Vehicle Institute of America is the not-for-profit national industry association promoting the safe and responsible use of all-terrain vehicles through rider training, public awareness campaigns, and state legislation. Additionally, SVIA works to preserve access to off-road riding areas and expand riding opportunities. Accredited by the American National Standards Institute, SVIA develops standards for the equipment, configuration, and performance requirements of ATVs. Based in Irvine, Calif., SVIA is sponsored by American Honda Motor Co., Inc.; BRP, Inc.; CFMOTO Powersports, Inc.; Kawasaki Motors Corp., U.S.A.; Polaris Inc.; Suzuki Motor USA, LLC; Textron Specialized Vehicles; and Yamaha Motor Corporation, U.S.A.. Visit SVIA online at For safety information or to enroll in the ATV RiderCourse nearest you, visit, or call (800) 887-2887.

13 – First Gold-level sponsor of Accelerate Conference steps upFrom Powersports Business

With dealership owners and operators getting booked to provide presentations, pre-April dealer registrations rolling in and excitement brewing for the 2022 edition, Powersports Business is proud to announce the first Gold-level sponsor of the Accelerate Conference, set for Nov. 14-16 at the Caribe Royale Resort in Orlando.

FIN GPS Security, a familiar brand to PSB readers as a three-time winner of the Nifty 50 Award (2009, 2019 and 2022) due to the steady improvements and upgrades to their product, has stepped in as a Gold-level sponsor at Accelerate.