This Week in Powersports Business – The week of April 10, 2022

This Week in Powersports Business – The week of April 10, 2022

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


1 – RumbleOn Files Annual Report on Form 10-K

IRVING, Texas – RumbleOn, Inc. (NASDAQ: RMBL) (the “Company” or “RumbleOn”), the nation’s first technology-based omnichannel powersports platform, today announced the filing of its Annual Report on Form 10-K for the year ended December 31, 2021 (the “Form 10-K”). As disclosed in the Form 10-K, the filing cures a listing deficiency set forth on a notice the Company received from Nasdaq on April 4, 2022. The notice stated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) because it had not timely filed the Form 10-K with the SEC. The Company believes that it has regained compliance with this rule as a result of today’s filing of the Form 10-K.

About RumbleOn

RumbleOn, Inc. is the nation’s first technology-based omnichannel powersports platform. Headquartered in the Dallas Metroplex, RumbleOn is revolutionizing the customer experience for outdoor enthusiasts across the country and making powersport vehicles accessible to more people, in more places than ever before. To learn more please visit us online at https://www.rumbleon.com/


2 – Polaris Celebrates International Female Ride Day® to #FocusFemaleForward

As female participation in powersports has continued to grow over the last decade, Polaris Inc. (NYSE: PII) is once again celebrating International Female Ride Day (IFRD) to help spotlight women riders in the powersports arena and further celebrate and accelerate the participation of women in powersports. The 16th annual IFRD is scheduled for May 7, when women in over 120 countries ride their motorcycles, off-road vehicles, snowmobiles, boats, or other powersports vehicles in unity and support of the female riding community. This year’s theme, #FocusFemaleForward, emphasizes the goals of IFRD, including encouraging new women to ride while shining a light on the diverse participation of women already engaging in powersports.

220411 Polaris empowers women of all experience levels around the world to “Just Ride!”
Polaris empowers women of all experience levels around the world to “Just Ride!” on Saturday, May 7, 2022, in celebration of the 16th International Female Ride Day.

“It’s exciting to have Polaris as a partner teaming up to encourage even more women to join the movement,” said Vicki Gray, IFRD founder and inaugural member of Polaris’ Empowersports Women’s Riding Council. “This 16th edition continues its fierce wave of action with women throughout six continents riding in celebration, purpose, and unity, representing their local female motorsport communities. Whether solo or in groups – on roads or dirt – riding continues to be an exhilarating, liberating, and a fulfilling activity for women of all skill levels and cultures. IFRD has persistently put forward an environment that fosters presence and accelerates kinship – this is our day to celebrate.”

Over the last two years, Polaris has seen female ridership across its portfolio increase by nearly 30%. In addition to partnering with IFRD, Polaris has expanded its efforts to champion the growth of female riders and help broaden their voice in the industry with the launch of their Empowersports Women’s Riding Counciland their Empowersports Diverse Riding Council. Comprised of trailblazing women who are riders, adventurers, leaders and entrepreneurs, the council members work with Polaris to drive industry inclusion and representation of women and to inspire more women to participate in powersports.

“Women riders have always played a strong and valued role within powersports, whether it be on dirt, snow, asphalt or water; and it is energizing to help even more women discover new, fun and memorable ways to experience the outdoors through our products,” said Polaris Chief Customer Growth Officer Pam Kermisch. “As the global leader in powersports, Polaris is proud to partner with IFRD to celebrate today’s women riders and work together to build the women riding community of tomorrow.”

JOIN THE MOVEMENT

IFRD and Polaris are inviting women around the world to celebrate the day by simply getting outside to ride. Whether it is an all-day motorcycle cruise down an open road, a solo drive through the trails on an off-road vehicle, or a quick boat ride around the lake with friends and family, participation in IFRD is easy as the tag line says: “Just Ride!”

Riders can also take part in the digital celebration by sharing photos of their rides on social media using the hashtags #InternationalFemaleRideDay , #IFRD2022, #FocusFemaleForward and upload their images on the IFRD website to be entered in the global photo sweepstakes.

Limited access to a powersports vehicle? Polaris Adventures, the experience arm of Polaris, brings together a network of Outfitters to provide ride and drive experiences at more than 175 epic destinations nationwide. With access to Polaris ATVs, Polaris RANGER®, RZR® and GENERAL™ side-by-side off-road vehicles, Slingshot® moto-roadsters, Indian Motorcycles® and snowmobiles, Polaris Adventures provides the opportunity for riders of all skill levels to try new terrain or participate in IFRD without owning a powersports vehicle.

No matter how or where you ride, Polaris and IFRD encourage safe riding practices. Wear appropriate safety gear and perform pre-ride vehicle checks. Riders participating in IFRD can proudly wear IFRD branded apparel and show off the official IFRD logo on their social handles or on their vehicles. Visit the IFRD website to learn more, including ways to participate, helpful tips for preparing your ride and photo inspirations from previous years.

More about IFRD

International Female Ride Day® is a globally synchronized ride day for women motorcycle riders and women powersport enthusiasts. Referred to as a “movement” by its participants, its call to action, “Just Ride! ©” asks women to be on their motorcycles or powersports vehicles on the first Saturday of May each year. Created in 2007 by Vicki Gray, a lifetime motorcycling advocate, road, and race instructor – with the purpose to profile and highlight the many diverse women enjoying the activity of motorcycling. Its mission, among several, is to that of building awareness and parity for women globally across all forms of motorsport and powersports. IFRD simultaneously encourages other women to take up the activity. The event is managed under the MOTORESS® canopy.

More about Polaris

As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. With annual 2021 sales of $8.2 billion, Polaris’ high-quality product line-up includes the Polaris RANGER, RZR and GENERAL side-by-side off-road vehicles; Sportsman all-terrain off-road vehicles; Indian Motorcycle mid-size and heavyweight motorcycles; Slingshot moto-roadsters; snowmobiles; and deck, cruiser and pontoon boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with parts, garments and accessories, along with a growing aftermarket portfolio, including Transamerican Auto Parts. Polaris’ presence in adjacent markets includes military and commercial off-road vehicles, quadricycles, and electric vehicles. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com.


3 – Vespa Partners with Justin Bieber for Exclusive New Model

Justin Bieber, an internationally acclaimed music star with millions of fans all over the world, has joined efforts with Vespa to unveil JUSTIN BIEBER X VESPA, a new, exclusive Vespa model personally ideated and designed by the singer.

Monochrome is the underlying style feature that distinguishes the new Vespa signed by Bieber.
 
The Vespa Sprint is defined by white color, which encompasses all of the vehicle: from the saddle to the grips to the spokes of the rims. The brand logo and the flames drawn on the body of the vehicle are also tone on tone white; that is the spin the singer wanted to put on the design to embody the creative drive, vibrancy and vigor — the values ​​shared by both Bieber and Vespa.
 
JUSTIN BIEBER X VESPA is rolled out with classic 50, 125 and 150cc engines, capacities that have made Vespa history, now revamped in full respect of the most recent environmental regulations. The Vespa features full-LED lights and spectacular 12-inch wheel rims.

An exclusive limited edition is complemented by an accessories collection. A bag, a pair of gloves and a total white helmet with an utter “Justin spin”, and the flames will make the Vespa experience even cooler.
 
Pre-booking is set to launch on April 18, 2022 to satisfy all Vespa lovers who want to reserve for themselves the first eagerly awaited model units.
 
Find more details on vespa.com or at the dedicated landing page


4 – New Exhibit to Feature Groundbreaking and Innovative Custom Electric MotorcyclesFrom Motorcycle & Powersports News

The Petersen Automotive Museum’s latest exhibit will feature a multitude of the most innovative electric motorcycles ever made by cutting-edge designers. Opening to the public on April 14, 2022 in the Richard Varner Family Gallery, the unique “Electric Revolutionaries” collection is an exclusive look at the ground-breaking creations of the visionaries at the forefront of the ever-expanding electric motorcycle industry.

READ THE ENTIRE ARTICLE HERE – https://www.motorcyclepowersportsnews.com/new-exhibit-to-feature-groundbreaking-and-innovative-custom-electric-motorcycles/


5 – Triumph reveals 2021 top dealerships in U.S., CanadaFrom Powersports Business

Triumph provides a major shoutout to its award-winning 2021 dealerships in the April edition of Powersports Business magazine, the first choice for dealers celebrating 25 years in print.

READ THE ENTIRE ARTICLE HERE – https://powersportsbusiness.com/top-stories/2022/04/12/triumph-reveals-2021-top-dealerships-in-u-s-canada/


6 – B’laster Named Official Rust Remover of 2022 AMA Vintage Motorcycle Days

B’laster, an Ohio-based rust remover and protectant company, has been named the Official Rust Remover and Sponsor of the 2022 AMA Vintage Motorcycle Days — the preeminent and longest-running vintage motorcycle event in the country — which takes place July 22-24 at the Mid-Ohio Sports Car Course in Lexington, Ohio.

“B’laster Metal Rescue Remover has long been popular with motorcyclists restoring their bikes, which makes our participation in VMD extra special,” said B’laster Vice President of Sales and Marketing Ted Bradley. “The B’laster brand is built for rust-belt warriors that don’t let rust get the best of them. Our goal is to help wrenchers restore and get riders back on the road. It’s our honor to celebrate the motorcyclists and mechanics at Mid-Ohio.”

Founded in 1957 by William K. Westley in the heart of the rustbelt, B’laster introduced the Original PB B’laster in response to a phosphate mine’s problem in Florida. The combination of moisture and phosphate and corrosion buildup made it impossible to disassemble mining equipment for maintenance and repair. Nothing broke through the corrosion until PB B’laster was created, and PB B’laster continues to be a top-selling, rust-inhibiting penetrant today.

“I grew up near Lake Erie in the heart of the rustbelt,” AMA Editorial Director and Ohio native Mitch Boehm said, “just like B’laster founder William Westley did, so I have some experience with rust and corrosion, especially if you’re riding bikes in the mud — and there’s plenty of mud in Ohio in the spring and summer. It’s great to have a local company like B’laster on board for the 30th running of VMD, and we know they’ll connect well with the many rust-belt moto warriors that flood to Mid-Ohio in July.”

The 2022 AMA Vintage Motorcycle Days event will feature AMA Motorcycle Hall of Famer and 500cc World Champ Kevin Schwantz as Grand Marshal, who’ll be on hand to sign autographs, speak to enthusiasts from the AMA Soundstage, and participate in a Lap For History each day. A special highlight will be an exclusive showing of Schwantz’s 1985 Yoshimura-Suzuki AMA Superbike, which launched his legendary career.

The three-day event will also include all the vintage-oriented happenings classic-bike fans love, including Hall of Fame activities, road and off-road racing, and the biggest motorcycle swap meet in North America, complete with parts and bikes and memorabilia from the past 120 years of motorcycling. Add to that the scenic and expansive Mid-Ohio grounds, plenty of food and refreshments, camping and vintage motorcycles for as far as the eye can see, and it’s easy to see why AMA VMD is one of the biggest and best events in all of motorcycling.

To learn more about B’laster, visit blasterproducts.com.

For more information visit https.vintagemotorcycledays.com, sign up for the AMA VMD newsletter or follow #AMAVMD on social media channels. To purchase tickets, visit midohio.com/tickets or AMA members can purchase discounted tickets through May 30.


7 – BRP Launches New CSR Program and Strengthens its Commitment to Corporate Social Responsibility

Today, BRP Inc. (TSX: DOO, NASDAQ: DOOO) announced its commitment to take corporate social responsibility (CSR) even further with the launch of its new CSR25 program. It includes more ambitious environmental targets than ever before, concrete initiatives, and sets goals for 2025 and beyond. It also reflects BRP’s intention to be the industry leader in corporate citizenship.

“We are very proud of our CSR25 program, which stretches the boundaries of our commitment to create a stronger future for our employees, our dealers, our customers and all of our stakeholders,” declared José Boisjoli, President and CEO. “Not only does it align with our strategy and industry best practices, it also sets high objectives that reflect the growing environmental and social concerns of our communities. We look forward to the enthusiastic participation of all our employees around the world in ensuring that our efforts are successful. Our board of directors and executive management team are fully dedicated to ensuring we make tangible progress and track our results on a regular basis.”

BRP’s CSR25 program fosters value creation around three main pillars: Environment, Social and Governance. The responsibility of each of them has been assigned to senior executives who leverage their expertise to ensure the program’s objectives are achieved. They specifically focus on BRP’s employees, communities, operations and products and are broken down as follows:

  • Reduce the carbon footprint relating to products and operations

    In 2021, BRP took an important step towards reducing the carbon footprint of its products with the announcement of a $300 million investment over the next five years to electrify each of its existing product lines by the end of 2026. BRP aims to have 50% of its units sold as electric by 2035. Furthermore, it has set the target of launching new electric products and new models that emit less COthan their predecessor. As such, BRP recently confirmed its first EV models with the upcoming launch of an all-electric lineup of Can-Am motorcycles.

    On the operations side, BRP targets making its facilities carbon neutral and reaching zero waste to landfill by 2030. It also aims to reduce COemissions from its supply chain by 25% by 2035.
  • Ensure a positive and sustainable impact in communities and the daily lives of employees

    BRP reiterates its commitment to invest 1% of pre-tax profits in community support by 2025.

    Also, the Company is increasing its efforts to empower all riders in the powersports community to ride responsibly through the new BRP Responsible Rider program. It aims to encourage riders to focus further on safety, riding etiquette and the environment.

    To foster an even more inclusive culture where everyone feels they belong, BRP has embarked on a Diversity, Equity and Inclusion (DE&I) journey. The Company has established a diverse DE&I Council which is comprised of employees from various backgrounds and workplaces and led by two senior executives who will implement a strong action plan. Specific DE&I employee resource groups are also being formed to reach targets.
  • Continue to make sound strategic decisions, maintain high ethical standards and conduct operations in a sustainable manner

    Under its Governance pillar, BRP is also announcing the upcoming launch of an enhanced version of its Code of Ethics. The intention is to further mobilize and empower its employees and other stakeholders in maintaining and displaying high ethical standards and behaviors across all of BRP’s activities.

Sandy Vassiadis, Vice-President, Global Communications & Corporate Social Responsibility added: “As a global leader in powersports vehicles, propulsion systems and boats, we are dedicated to reinventing how we move people in a more sustainable way and caring for our communities. The program we are launching today reflects our commitment to lead by example and inspire our industry to play an active and engaging role in creating a brighter future for all. We look forward to rallying our complete network around our CSR initiatives and promoting eco-responsible practices.”

For full details about BRP’s CSR25 program and its initiatives, please visit the Corporate Social Responsibility section of our website.Caution Concerning Forward-Looking Statements

Certain information included in this press release, including statements regarding the Company’s CSR25 program and its intention to set environmental, social and governance targets, goals and initiatives, its intention to electrify existing product lines, its intention to launch new electric product lines and other statements that are not historical facts, are “forward-looking statements” within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as “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. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP or the powersports or marine industry to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in BRP’s annual information form dated March 25, 2022.

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.

www.brp.com
@BRPNews

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.


8 – Clutch kit, drive belt company lands new side-by-side partnerFrom Powersports Business

A project that started out with a side-by-side manufacturer seeking high performance replacement drive belts and clutch tools for the company’s newest models has landed with a new industry partnership.

GBoost Technology, Inc. has recently collaborated with Segway Powersports on replacement drive belts and clutch tools for the new Segway Villain and Fugleman side-by-sides. GBoost has participated in many Segway projects, working directly with their engineers, reps and service teams.

READ THE ENTIRE ARTICLE AT – https://powersportsbusiness.com/top-stories/2022/04/12/clutch-kit-drive-belt-company-lands-new-side-by-side-partner/


9 – HISUN USA WELCOMES NEW REGIONAL SALES MANAGER, TAZ SOBOTKA

McKinney, TX – April 13, 2022 – HISUN Motor Corp., USA welcomes new Regional Sales Manager, Taz Sobotka.

Taz joins HISUN following a 2-year tenure as Global Brand Director with EVS Sports. There, he guided the brand to record profits during the Covid-19 era. Preceding EVS, Sobotka played a key role as the Senior Marketing Director of Tucker Powersports, where he led his team in facilitating a complete re-brand of the 55-year-old distributor. Taz, an avid powersports enthusiast, also held notable roles with Tucker, as Regional Sales Manager, and as a Project Manager for Red Bull. Additionally, he spent time diversifying his experience in the retail space, at a powersports dealership in Tallahassee, Florida.

In his new role, as Eastern US Regional Sales Manager for HISUN Motors Corp., USA, Sobotka is tasked with expanding and directing a comprehensive team of District Sales Managers and Business Development personnel. His objective to enrich HISUN’s business practices will continue to optimize dealer service, and forge healthy, dependable relationships with each of the company’s valuable business partners. Furthermore, he will be working closely with each of the department heads to help establish more unity and communication between the organization and its dealers. “Hisun has seen tremendous growth in recent years.” says Taz. “The new leadership has really optimized sales by leveraging HISUN’s manufacturing strengths and developing a truly remarkable team. I am grateful for the opportunity to grow with them and connect more powersports dealers to this great brand.” 

Taz can be reached directly at: 850-591-8360 or taz.sobotka@hisunmotors.com.

It is a great time to join HISUN! With multiple new initiatives and a product roadmap that aligns with the evolving landscape of the Powersports Industry, HISUN continues to grow, improve, and learn how to better serve its customers. We are excited to welcome Taz Sobotka as the newest member to HISUN’s strategic growth plans.

“Taz is one of the most intuitive people I’ve met in our industry. He is precisely what we’ve been looking for to fill this role.” says Jason Walling, National Sales Manager of HISUN Motors Corp., USA. “Someone with the intellect and assertiveness to help us carry HISUN to our next milestone. At HISUN, we encourage our staff to leverage obstacles as opportunities. Opportunities to thrive on creating positive results. I trust in Taz’s ability to help us continue to develop our team around those same principles, as he embarks on this new chapter in his career.”


10 – Rugged Radios Giving Back to Front-line WorkersFrom Motorcycle and Powersports News

Do you work for or know a California Fire Department that could use this vehicle? Rugged Radios purchased a 2022 Polaris Ranger XP 1000 Trail Boss six-seater to build the Ultimate Rapid Response Vehicle for one deserving California Fire Department.

This Ultimate Rapid Response Vehicle could go to your department!

READ THE ENTIRE POST HERE – https://www.motorcyclepowersportsnews.com/rugged-radios-giving-back-front-line-workers/


11 – Powersports Business is hiring – READ MORE HERE – https://powersportsbusiness.com/top-stories/2022/04/14/powersports-business-is-hiring/


12 – Nivel Parts & Manufacturing Acquires EPI Performance

Nivel Parts & Manufacturing Co., LLC announced late Thursday afternoon that it has successfully acquired EPI Performance, a leading UTV clutch kit, drive belt, and driveline component supplier. The purchase combines Nivel’s manufacturing, sourcing, and distribution capabilities with the reputable EPI brand. EPI Performance products are distributed worldwide by major powersports distributors and dealers.

Nivel aims to continue growing the business with a seamless transition of EPI’s talent, vendor relationships, and distribution partnerships. Jeff Supinski, EPI’s Operations Manager, said, “We are very excited to join the Nivel team; the opportunity is a great fit for EPI. Nivel’s resources will position EPI to further accelerate our 30+ years of product innovation and brand strategy and will strengthen distribution relationships.”

Nivel recognizes the growth in the UTV market and understands the importance of offering products and brands that are appealing to all UTV segments. Through the acquisition of EPI Performance, Nivel expands into the UTV clutch, drive belt, and driveline markets with a well-recognized brand built on providing an unparalleled customer experience and unique, high-quality products.

Nivel CEO, Brett Hankey, commented, “We are so excited to bring EPI Performance into Nivel’s family of brands. EPI’s innovation coupled with its promise to deliver well-tested, high-quality products has positioned them as a leading brand in the UTV aftermarket parts industry. We look forward to continuing to build on this success and delivering quality products to our UTV enthusiast customers.”

About Nivel

Founded in 1968, Nivel is a global manufacturer, distributor, and seller of aftermarket parts and accessories for vehicles in the Personal Transportation Vehicle (PTV), Utility Terrain Vehicle (UTV), Heavy Duty, and Automotive sectors. It is a trusted business partner to thousands of dealers, distributors, and consumers in the US and international markets. Nivel owns the most valuable brands in the aftermarket niche vehicle parts and accessories categories: 
MadJaxRedDotGTWJake’sRelianceSeizmikHighlifter, and Falcon Ridge.

About EPI Performance

EPI Performance designs, develops, and manufactures high-performance CVT clutch calibration kits, drive belts, and other quality driveline replacement components for the UTV market.  The EPI Performance brand has been a recognized leader for over 30 years in the ATV/UTV industry. EPI Performance has raised the bar in product innovation, design, and performance, earning preferred shelf space at dealerships worldwide.

Media Contact: media@nivel.com


13 – Volcon ePowersports Partners with TROPICARS to Expand Into 20 Additional International Markets

Volcon Inc. (NASDAQ: VLCN), (“Volcon” or the “Company”), an all-electric, off-road powersports company, has officially appointed TROPICARS as an authorized exporter of Volcon products, providing distribution access to over 20 additional markets throughout the Caribbean. The appointment will make Volcon products available for sale in the Caribbean territories including, Anguilla, Antigua & Barbuda, Aruba, Bahamas, Barbados, Bermuda, Bonaire, Cayman Islands, Curacao, Dominican Republic, Grenada, Guadeloupe, Haiti, Jamaica, Martinique, Montserrat, St. Barts, Saint Kitts & Nevis, Saint Lucia, St Vincent & the Grenadines, Trinidad & Tobago, Turks & Caicos, Virgin Islands.

TROPICARS is a major distributor of golf cars, utility vehicles, and other products used in the golf, resort, hospitality, and power sports industries. The company also has a solid infrastructure to distribute personal vehicles and recreational vehicles. Headquartered in Miami, Florida, TROPICARS has a state-of-the-art distribution facility to seamlessly serve its customers to the South. TROPICARS sales representatives and technical staff frequently travel to provide hands-on support to their distribution network as they strive to ensure that their customers receive personalized attention to be successful in the distribution and sales process in each unique market.

“We are truly looking forward to working with Tropicars as our exporter to the Caribbean,” explained Melissa Coffey, Director of Global Sales and Service of Volcon Inc. “Their strength and proven success in the region makes them a perfect brand partner and will create additional opportunities for the growth and sales of Volcon products. We are extremely excited to launch Volcon into the Caribbean and grow the brand with the team at TROPICARS.”

“We are very much excited about our partnership with Volcon,” expressed TJ Sokolowsky, Vice President & General Manager of Tropicars. “Volcon has a great product and their employees have a passion to manufacture and support the best electric off-road vehicles. We look forward to growing the Volcon product line in the Caribbean region.”

In addition to the distribution and sales of Volcon products, TROPICARS will also work closely with Volcon to develop region-specific marketing of the products and brand to ensure the success of sales to the new customer base.

About Volcon

Volcon Inc. is an all-electric powersports company producing high-quality off-road vehicles. Based in Round Rock, Texas, Volcon joins many major electric vehicle manufacturers near Austin, Texas, an area that is poised to become the electric vehicle capital of the world.

Volcon was founded with the mission to enhance the outdoor experience while reducing the industry’s environmental footprint so that adventurers and workers alike can enjoy the outdoors and preserve it for generations to come. Volcon produces all-electric, off-road vehicles designed to elevate the adventure experience and help people get things done at work and on the home front.

Volcon’s first product, the innovative Grunt, combines a fat tire physique with high-torque electric power and a near-silent drive train which started shipping in September of 2021. Future models may include the Runt, a youth-sized version of the groundbreaking Grunt and an eBike, the Brat. The Stag and Project X are expected to be Volcon’s venture into the rapidly expanding world of UTVs and coming in future years as the company expands.

Volcon Contacts

For Media: media@volcon.com

For Dealers: dealers@volcon.com

For Investors: investors@volcon.com

For Marketing: marketing@volcon.com

For more information on Volcon or to learn more about its complete motorcycle and side-by-side line-up, visit: www.volcon.com


This Week in Powersports Business – The week of April 4, 2022

This Week in Powersports Business – The week of April 4, 2022

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


1 – Buell Current and Future Products Get Standing Ovation at DaytonaFrom Buell

The Buell is Back mantra was reaffirmed and reinforced after a strong showing and enthusiastic response from consumers at Daytona Bike Week 2022.

“Thank You, Thank You, Thank You and now it’s back to work,” said Bill Melvin, CEO of Buell Motorcycle Co. “We were humbled by the wildly enthusiastic response from both the media and consumers at Daytona on our current and future models. Their encouragement and insistence to keep expanding the Buell brand into new segments while pushing the power envelope was clearly heard…so as it pertains to new product development – you ain’t seen nothing yet!”

Buell showcased the Hammerhead and 1190 SX models currently in production while unveiling two new prototypes, the Baja DR and SuperTouring, announcing their entry into the off-road and touring segments while maintaining the brand’s coveted DNA customers expect.

The Baja DR will boast the world’s fastest production dirt bike with a 175hp liquid-cooled, 72-degree V-twin engine with 101 ft-lbs. of torque. Add to this the trellis frame, adjustable swing arm for a 66-72” wheelbase, industry-standard 37” seat height with 26.75-degree rake and you’ve got the makings for an unmatched top-of-the-market speed and performance dirt bike. Production is planned for early 2023.

The new SuperTouring model will possess the fastest touring bike in the marketplace producing an industry-leading 185hp. It retains Buell’s famous Fuel in Frame handling but will exhibit a more upright riding position, variable mounting points for hard or soft bags and room for rider customization with aftermarket touring accessories. Production is planned for winter 2022.

Opportunities to reserve a production slot for the Hammerhead, 1190 SX, Baja DR, and SuperTouring models are available now by placing a $25 reservation at http://www.BuellMotorcycle.com. You’ll receive a limited-edition Buell hat too!

“We were blown away by the reception of our future models and listened closely to our customers regarding their likes and dislikes,” said Dean Guard, Chief Product Engineer at Buell Motorcycle Co. “They took the time to evaluate our products and provide us with insights, and we can’t thank them enough for their passionate feedback and input. We will take this information back to our leadership team and make the necessary changes to continue to deliver products that exceed their expectations.”

Buell is headed back more energized than ever to deliver more Hammerhead and SX models, make improvements and prepare to launch their new Baja DR and SuperTouring models and explore opportunities to expand into new product segments as well.

Daytona Bike Week only reaffirmed that Buell is back and delivering excitement at every turn.

For future Buell updates, follow our news page on our website and our social media pages.

Website: http://www.BuellMotorcycle.com
Email for Information: Info@BuellMotorcycle.com


2 – HUSQVARNA MOTORCYCLES 2022 12EDRIVE AND 16EDRIVE BIKES BRINGING TWO-WHEEL THRILLS TO THE NEXT GENERATIONFrom Husqvarna

The Husqvarna 12eDrive and 16eDrive by STACYC™ are the fastest way for children to get up to speed with the basics of two-wheel balance and control. With the thrill and excitement of power delivery from a twist-action throttle, the 12eDrive and 16eDrive make learning so much fun. Skills grow in no time and tentative first steps quickly lead to confidence in control.

The 12eDrive is designed for kids aged 3 to 5 years old with an inside leg range of 35-51 cm. Tomorrow’s champions can start at their own pace, with a choice of three levels of power, starting at up to 8 km/h in training mode to a maximum of 14 km/h in advanced mode.

A true twistgrip throttle gives linear delivery, so children learn how to operate a proper throttle and manage power output. The 12eDrive’s ultra-low seat height of just 33 cm lets young riders keep their feet firmly on the ground at standstill, and also ‘dab’ easily with a foot to maintain balance on the move.

The 12eDrive has 12” composite wheels with pneumatic tyres, and a child-friendly, manageable light weight of 7.7 kg (including battery).

The Husqvarna 16eDrive extends the concept to kids aged 4 to 8 years old up to 34 kg, and with an inside leg range of 45-61 cm. The 16eDrive has 16” composite wheels with pneumatic tyres. Three power modes allow speeds up to 21 km/h, so when children feel confident, they can go quicker with an easy turn of the twist-action throttle.

Riding skills increase quickly with confidence, and the 16eDrive is designed to build the trust of young riders. Seat height is a manageable 43 cm, and at just 9 kg including the battery the 16eDrive is easy to push around and pick up, so kids will soon be back in action after a tumble.

Both the 12eDrive and 16eDrive offer battery runtime of up to 60 minutes. The 12eDrive’s 2 Ah battery takes 30-60 minutes to recharge and the 16eDrive has a 4 Ah unit with a charge time of 45-60 minutes. Rapid charging means the action doesn’t stop for long and can keep on going with an optional second battery. With their low weight, both balance bikes are easily lifted into a car boot to take on family days out.

The Husqvarna 12eDrive and 16eDrive are available now at authorised Husqvarna Motorcycles dealers. Availability may differ from country to country. For all details on pricing and availability, please refer to your national Husqvarna Motorcycles subsidiary or importer.


3 – LDR Growth Partners acquires Mustang Motorcycle Products LLCFrom Powersports Business

A veteran-founded and growth-oriented investment firm, LDR Growth Partners, has added to its portfolio by acquiring one of the most popular brands in aftermarket seats.

LDR Growth Partners has acquired Mustang Motorcycle Products LLC, maker of Mustang Seats and related motorcycle accessories, in a private transaction that closed last Friday. Mustang, known for high-quality, handmade motorcycle seats, was founded in 1980 near Three Rivers, Massachusetts, where the company maintains factory operations. Mustang was purchased out of Motorsport Aftermarket Group, owned by a group of investors, led by Monomoy Capital Partners. 

“Mustang Seats presents a tremendous opportunity for us at LDR,” said William Brame, partner at LDR and co-head of its acquisition business. “Our unique approach is in providing growing companies the resources they need to continue to expand while identifying areas for new value creation. We’ll invest in people, technology, and the machinery the company needs to help deliver the iconic Mustang Seats to motorcycle riders looking for our products domestically and internationally.”

Mustang employs 85 people in a historic facility in Three Rivers. The company was founded by Al Simmons and named after the legendary P51 military aircraft from World War II. Mustang designs and manufactures a variety of styles of seats, with fitments for all major brands of motorcycles. The company also offers rider and passenger backrests and seating-related products.

LDR Growth Partners is a private investment firm focused on acquiring and growing unique, cash flow generating businesses in the manufacturing, industrial products, and transportation sectors. The company currently owns and operates Whitman Controls, a 50-year manufacturer of process automation controls with large, multinational customers across a range of industries. LDR, founded in 2011 by three U.S. Army officers, is also the owner of LDR Advisory Partners and LDR Leadership, firms which focus on improving company, employee and leadership performance.

LDR intends to keep Mustang’s operations in its current primary location as it adds manufacturing technology, production capacity and marketing capabilities to the organization. The company has added nearly 20 additional employees since September of 2021 and the new owners anticipate hiring additional resources in the coming months to accomplish their goals. 

“We believe in Mustang’s product, in its people and in the strength of the motorcycle accessory market,” continued Brame. “Our leadership is excited about entrenching ourselves in this company and in the riding community. We look forward to meeting our loyal customers and partners at rallies and events this year.”

“The leadership and employees here at Mustang couldn’t be happier about the news,” said Mustang GM Mike Cornelius. “The additional investment from LDR will help us take the next step forward. Our orders show that riders want Mustang Seats and our team is excited to continue to deliver them to our loyal dealers and customers.”


4 – Dealership snags three District Dealer of the Year awardsFrom Powersports Business

Make some space in the trophy case. That’s the goal for a highly successful dealership team that recently received three District Dealer of the Year awards from BRP.

Mosites Motorsports in North Versailles, Pennsylvania, was named 2021 Can-Am Off-Road, Can-Am On-Road and Sea-Doo District Dealer of the Year.

Mosites reports on its Instagram that “total sales volume is a criteria, but also includes brand support from our parts and service departments. We’re proud to be able to support the local riding community, but more importantly humbled and appreciative that you entrusted us with your continued patronage of this goofy place we call a home away from home. Thank you all so much for not only the opportunity to pursue this title, but for allowing us to be your local, hometown, family owned dealership.”

READ THE ENTIRE ARTICLE – https://powersportsbusiness.com/top-stories/2022/04/05/dealership-snags-three-district-dealer-of-the-year-awards/


5 – Dealership owners sell two locations after 30 years due to retirementFrom Powersports Business

A longtime Harley-Davidson husband-and-wife owner couple has sold its two locations that had been heavily involved in the community thanks to their love of the Harley-Davidson brand. The new owner, meanwhile, was a member of the inaugural Powersports Business 40 Under 40 Dealers in 2021.

READ THE ENTIRE ARTICLE – https://powersportsbusiness.com/top-stories/2022/04/05/dealership-owners-sell-two-locations-after-30-years-due-to-retirement/


6 – Big Island Harley-Davidson in Kailua, HawaiI Closes Doors at the End of the MonthFrom Powersports Business

READ THE ENTIRE ARTICLE – https://powersportsbusiness.com/top-stories/2022/04/04/dealership-open-since-2009-closing-at-the-end-of-the-month/


7 – The STKR® TRi-Mobile Rechargeable Work Light

STKR Concepts is no slouch when it comes to innovative lighting, and they continue to impress with their new TRi-Mobile Area Work Light.  This new mobile light has a structural design unlike any other, and it is that exact unique structure that gives the TRi-Mobile the ability to change shape and provide endless lighting solutions.

The TRi-Mobiles’ key design feature is its 3 individual LED panels.  Each of these panels nestles into the body, nicely protected when in storage, but put this light to work and watch the LED panels convert into lighting workhorses.  The three panels are fitted with dual pivoting mounts which allow them to rotate and pivot in all directions, completely independent of one another.  They can be rotated to create a 360° lantern or positioned to project light in nearly any array.  Face the three LED panels straight down and the Tri-Mobile quickly fills a room, workshop, campsite, or tent.  Face all three panels in one direction to light a scene or fold the panels down to fill an entire area when in lantern position.

Set up and positioning of the TRi-Mobile is easy in any space.  This light is equipped with many hands-free options including magnets, a hang hook, and a tripod mount.  The three magnets embedded in the base allow the user to mount the light to any steel surface and then easily position each LED panel.  Great for mechanics, HVAC, and industrial environments.  The hang hook nested in the base is fitted with a ball joint, perfect for hanging and rotating the light into the exact position necessary.  Screw the Tri-Mobile onto the available STKR tripod and you can elevate the light in any room or outdoor space.  The available STKR tripod is sturdy and durable.  It lifts the Tri-Mobile over 4 feet in the air and collapses in seconds.

In addition to its directional versatility, the TRi-Mobile also boasts an impressive amount of light.  An astounding 2000 True Lumens to be exact.  These lumen levels are not typical for battery powered lights, but the Tri-Mobile is able to pull off this feat via 4000 mAh dual lithium-ion batteries combined with the highest quality SMD LEDs.  If less light is needed, the user can select between 3 power modes to lower the brightness and preserve battery power.  Users can even select between the color of the LED light.  There are 2 color modes, 5400K mode and 4000k mode.  5400K is a nice bright white color that is perfect for clarity when working on projects.  The 4000k mode is a softer & warmer light that is easier on the eyes.  This mode can often be better in less technical situations, such as in a living space or enjoying a relaxing outdoor environment.

Use the Tri-Mobile when working around the house, shop, or garage.  Pack it for an upcoming camping or RV trip and let it light up large outdoor spaces.  A good light is always necessary, and the TRi-Mobile is exactly what everyone needs.  Powerful and durable enough to handle rugged environments, and versatile enough to fulfill all potential area lighting needs.

The TRi-Mobile Area Work Light is available now. For more information, please visit www.riskracing.com 

     


8 – Dealership celebrating 40 years with expansionFrom Powersports Business

A dealership shares on an Instagram post that “because our customers continue to remain our highest priority, we are heading into our 40th year with some big changes! Last week we were able to break ground on our newest construction project – an updated service facility! We hope this addition will help us to better accommodate our customers and make our service experience top notch.”

READ THE ENTIRE ARTICLE HERE – https://powersportsbusiness.com/top-stories/2022/04/06/dealership-celebrating-40-years-with-expansion/


9 – Progressive IMS Outdoors Reveals Dennis Kirk as New “Ultimate Builder Custom Bike Show” Title Sponsor, Plus Signs an All-new Program Manager

SANTA MONICA, CA – April 6, 2022 – Progressive IMS Outdoors, the Powersports industry’s leading consumer motorcycle tour that connects enthusiasts with top brands, today announced two strategic partnerships for Ultimate Builder Custom Bike Show (UBCBS).

  • Dennis Kirk, the world’s largest retailer of aftermarket parts, apparel and accessories for every powersport, is the new title sponsor of UBCBS.
  • Jordan Mastagni, president of Hot Bike Magazine, will take over management of UBCBS.

Builder registration for the 2022 competition is now open – new and returning builders alike are encouraged to sign up for this year’s edition at www.motorcycleshows.com/UBCBS.

Jordan is gearing up to bring his 20+ years in the motorcycle industry as a moto-journalist and builder enthusiast to the Progressive IMS Outdoors staple attraction, which has evolved into the industry’s most prominent competition throughout its 11-year tenure. Year after year, hundreds of builders use the competition as a springboard to showcase their rolling works of art and compete for cash, prizes, and the “King of Builders” title, crowned in the championship round held in Southern California at the last event of the tour.

“It’s an honor to work alongside the Progressive IMS Outdoors team this year,” Jordan says. “I’ve worked closely with the custom motorcycle community throughout my career and have so much respect for the time and creativity it takes to produce a custom build and I look forward to seeing what this year’s group brings to the competition.”

Dennis Kirk, Powersports aftermarket parts and gear leader, signs on as the UBCBS title sponsor.

“UBCBS is one of the most well-known and widely respected competitions in the builder community and we are excited to be on board as the title sponsor for the 2022 edition,” said Tammy Becklin, Chief Marketing Officer of Dennis Kirk. “The opportunity to further align our brand with the custom builder community, while celebrating the grit and talent that goes into motorcycle building, is a remarkable milestone for Dennis Kirk. We look forward to this year’s competition and are eager to introduce Dennis Kirk to the builders and thousands of riders and enthusiasts that attend Progressive IMS Outdoors.

Classes for the 2022 competition include Custom StreetCustom Classic and Freestyle, plus the People’s Choice Award. Winners of the Custom Street, Custom Classic, and Freestyle classes will take home $500 – $1,000 in cash from Progressive IMS Outdoors, plus prizes from sponsors. Winners of each round are invited to compete in the Championship Round at the end of the tour for the title “King of Builders”, $10,000 in cash and prizes.

Classes

Custom Street Class

Must start with 2000 and later major OEM engine and frame as a base. Must maintain original engine cradle configuration. The neck may be cut to rake or stretch frame. Hardtail sections and wide tire alterations are acceptable. Must be a two or three-wheel motorcycle configuration as defined by DMV. The vehicle must run and be operable.

Custom Classic Class

Must have a 1999 or earlier OEM engine; replica engines are not allowed. Custom or stock modified frames are acceptable. Must be a two or three-wheel motorcycle configuration as defined by DMV. The vehicle must run and be operable.

Freestyle Class

Anything goes, two or three-wheel drivetrain/chassis motorcycle configuration defined by the DMV. The only limitation is the builder’s imagination and resources. The vehicle must run and be operable.

“UBCBS is a staple program that people return to year-after-year, as competitors and attendees to see all-new unique builds,” said Tracy Harris, SVP of Progressive IMS Outdoors. “The program is a highlight of each event, as builders travel from all over the nation and compete alongside their peers to showcase the bikes they have been working on for months and, in many cases, years. We’re excited to see new and returning faces on this year’s IMS tour under Jordan’s new management.”

Jordan Mastagni is a seasoned 20-year veteran in the motorcycle industry as a moto-journalist and most recently the head of sales and marketing at ARCH Motorcycle Company, co-founded by Gard Hollinger and Keanu Reeves. Recently, Jordan purchased the intellectual property of Hot Bike, the world’s largest custom V-twin media company, and is working hard to keep this iconic, 50-year-old brand shredding tires for many years to come. Being a fan of all motorcycle makes, Jordan brings a keen eye for attention to detail, making him a great fit to be the ambassador for UBCBS.

Please visit here for more information on judging criteria, awards categories, and prizes. Interested in registering for the 2022 UBCBS competition? Builder registration is now live. Please visit https://motorcycleshows.com/UBCBSto enter.

The 2022 tour is sponsored by Progressive Insurance, with this year’s edition marking Progressive’s role as title sponsor for the 13th consecutive year.


10 – Pocono Mountain Harley-Davidson owners sell dealershipFrom Powersports Business

Performance Brokerage Services, North America’s highest volume dealership brokerage firm, has announced the sale of Pocono Mountain Harley-Davidson of Tannersville, Pennsylvania from Jim and Linda Schlier to Steve and Anne Deli of American Road Group.

READ THE ENTIRE STORY HERE – https://powersportsbusiness.com/top-stories/2022/04/07/pocono-mountain-harley-davidson-owners-sell-dealership/


11 – Kawasaki reveals Ichiban dealers for 2021 READ THE POST AT https://powersportsbusiness.com/top-stories/2022/04/07/kawasaki-reveals/


12 – J&P Cycles Celebrates the Grand Opening of New Scottsdale StoreFrom Motorcycle and Powersports News

J&P Cycles has announced the opening of its brand-new store in Scottsdale, Arizona. 

To celebrate the new location, J&P Cycles is hosting its Grand Opening Motobash from April 6-10, 2022, on-site at the store. The retail store features a vast selection of parts and accessories along with a full line-up of motorcycle gear, including helmets, apparel for men and women, parts and more. Motorcycle, powersport and adventure enthusiasts along with community members and residents are welcome to this free event. 

In addition to the opening of the new store, J&P Cycles will be a destination store and one of the sponsors for Arizona Bike Week (April 6-10, 2022).  

READ THE ENTIRE ARTICLE HERE – https://www.motorcyclepowersportsnews.com/jp-cycles-celebrates-grand-opening-scottsdale-store/


13 – CDK Global To Be Acquired By Brookfield For $54.87 Per Share In Cash

HOFFMAN ESTATES, Ill. – April 7, 2022 – CDK Global, Inc. (Nasdaq: CDK), a leading automotive retail technology company, has entered into a definitive agreement to be acquired by Brookfield Business Partners, together with institutional partners (collectively “Brookfield”), for a total enterprise value of $8.3 billion.

Under the terms of the merger agreement, Brookfield will commence a tender offer to acquire all of the outstanding shares of CDK. CDK shareholders will receive $54.87 per share in cash upon completion of the transaction, which represents a 30% premium to the unaffected closing price of CDK stock on Feb. 18, 2022, the last full trading day prior to market speculation regarding a potential sale of the company. The agreement was unanimously approved by CDK’s Board of Directors, which recommends that CDK stockholders tender their shares in the offer.

“This transaction is an exciting next step for CDK that provides our shareholders with both certainty of value and a meaningful premium. It also allows CDK to continue executing our long-term strategy to connect our industry at every level and create an open and collaborative future,” said Brian Krzanich, president and chief executive officer, CDK Global. “In consultation with our outside advisors, CDK’s Board of Directors carefully evaluated a range of strategic and financial alternatives over several months and determined that this transaction is superior to all other available alternatives.

“Brookfield recognizes the unique value our products bring to more than 15,000 retail locations in North America and shares our vision of transforming the future of automotive retail. We are excited about the opportunity to further sharpen our focus on elevating the dealer and consumer experience when selling, buying or owning a vehicle. I am grateful for our team’s incredible work in providing an integrated experience —from sourcing to retail sale, and beyond.”

As the flagship listed vehicle of Brookfield Asset Management’s Private Equity Group, Brookfield Business Partners is focused on owning and operating high-quality businesses that provide essential products and services and benefit from a strong competitive position. Brookfield Asset Management is a leading global alternative asset manager with approximately $690 billion of assets under management.

The closing of the tender offer will be subject to certain conditions, including the tender of shares representing at least a majority of the total number of CDK’s outstanding shares, the expiration or termination of the antitrust waiting period, and other customary conditions, after which CDK’s common stock will no longer be listed on the Nasdaq Global Select Market. Following the successful completion of the tender offer, Brookfield will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. This transaction is expected to close in the third quarter of 2022.

Morgan Stanley & Co. LLC is serving as exclusive financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor to CDK. Davis Polk & Wardwell LLP is acting as legal advisor to Brookfield.

About CDK Global, Inc.
With approximately $2 billion in revenues, CDK Global (NASDAQ: CDK) is a leading provider of retail technology and software as a service (SaaS) solutions that help dealers and auto manufacturers run their businesses more efficiently, drive improved profitability and create frictionless purchasing and ownership experiences for consumers. Today, CDK serves over 15,000 retail locations in North America.

Additional Information
The tender offer for the outstanding common stock of CDK Global, Inc. (the “Company”) has not yet commenced. This communication does not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell the Company’s securities. An offer to purchase shares of the Company’s common stock will only be made pursuant to an Offer to Purchase and related tender offer materials. At the time the tender offer is commenced, Central Merger Sub Inc., a subsidiary of Brookfield Business Partners, will file a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission (the “SEC”) and thereafter the Company will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer. The tender offer materials (including the Offer to Purchase, a related Letter of Transmittal and other tender offer documents) and the Solicitation/Recommendation Statement on Schedule 14D-9 will contain important information. The Company’s stockholders are urged to read these documents (including the Offer to Purchase and related Letter of Transmittal and certain other documents), and the Solicitation/Recommendation Statement, as may be amended from time to time, carefully when they become available because they will contain important information that they should consider before making any decision regarding tendering their Shares. The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC’s website at www.sec.gov. Additional copies of the documents may be obtained for free on the Company’s website at www.cdkglobal.com.

Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. By their nature, forward-looking statements involve risks and uncertainty because they relate to events and depend on circumstances that will occur in the future, and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. Forward-looking statements include, among other things, statements about the ability of the parties to complete the proposed transaction and the expected timing of completion of the proposed transaction; as well as any assumptions underlying any of the foregoing.

The following are some of the factors that could cause actual future results to differ materially from those expressed in any forward-looking statements: (i) uncertainties as to the timing of the tender offer and the merger; (ii) the risk that the proposed transaction may not be completed in a timely manner or at all; (iii) uncertainties as to the percentage of the Company’s stockholders tendering their shares of common stock in the tender offer; (iv) the possibility that competing offers or acquisition proposals for the Company will be made; (v) the possibility that any or all of the various conditions to the consummation of the tender offer or the merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals); (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, including in circumstances that would require the Company to pay a termination fee or other expenses; (vii) the effect of this announcement or pendency of the proposed transaction on the Company’s ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, its business generally or its stock price; (viii) risks related to diverting management’s attention from the Company’s ongoing business operations; (ix) the risk that stockholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification and liability; and (x) other factors as set forth from time to time in the Company’s filings with the SEC, including its annual report on Form 10-K for the fiscal year ended June 30, 2021 and any subsequent quarterly reports on Form 10-Q. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are based on information currently available to the Company, and the Company expressly disclaims any intent or obligation to update, supplement or revise publicly these forward-looking statements except as required by law.


This Week in Powersports Business – The week of March 27, 2022

This Week in Powersports Business – The week of March 27, 2022

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.

FISCAL YEAR 2023 GUIDANCE

The Company has established its FY23 guidance as follows:

Financial MetricFY22FY23 Guidance[4] vs FY22
Revenues
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
Revenues$2,347.5$1,815.1$7,647.9$5,952.9$6,052.7
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

FOURTH QUARTER RESULTS
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
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.

TWELVE-MONTH PERIOD ENDED JANUARY 31, 2022

Revenues
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.

LIQUIDITY AND CAPITAL RESOURCES

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.

Dividend
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.

ANNOUNCEMENT OF A SUBSTANTIAL ISSUER BID

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.

CONFERENCE CALL AND WEBCAST PRESENTATION

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.

www.brp.com 
@BRPNews

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.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
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.

KEY ASSUMPTIONS
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.

NON-IFRS MEASURES
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:

Non-IFRS
measures
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]0.25.81.52.9
(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 combinations1.01.14.14.43.6
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 elements1.13.90.60.9
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]14.026.263.4107.390.9
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
Revenues$2,347.5$1,815.1$7,647.9$5,952.9$6,052.7
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]0.52.17.966.3
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.

PIONEER 1000 TRAIL
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

PIONEER 1000 FOREST
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

PIONEER 1000 DELUXE
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

PIONEER 1000 EPS
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

PIONEER 700 DELUXE
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

PIONEER 700
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 HondaNews.com


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.”

2022 CBR1000RR-R FIREBLADE SP
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

2022 MONTESA COTA 4RT260R
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

2022 MONTESA COTA 4RT301RR RACE REPLICA
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

2023 RUCKUS
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 HondaNews.com


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!”

READ THE ENTIRE POST HERE – https://powersportsbusiness.com/top-stories/2022/03/29/first-dealer-education-session-at-2022-accelerate-conference-in-orlando-revealed/


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.
https://www.tiktok.com/@powersportsbusiness


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 www.riskracing.com


8 – NEW LAUNCHES LEAD TO RECORD-BREAKING SALES FOR HUSQVARNA MOTORCYCLES

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 www.arrowheadepinc.com 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.

READ THE ENTIRE STORY HERE – https://powersportsbusiness.com/top-stories/2022/03/29/dealership-gets-new-owner-due-to-retirement/


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.

READ THE ENTIRE STORY HERE – https://powersportsbusiness.com/top-stories/2022/03/30/rosacker-promoted-to-vp-sales-at-epg-brand-acceleration/


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 svia.org. For safety information or to enroll in the ATV RiderCourse nearest you, visit atvsafety.org, 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.

READ THE ENTIRE STORY HERE – https://powersportsbusiness.com/top-stories/2022/03/31/first-gold-sponsor-of-accelerate-conference-named/


This Week in Powersports Business – For the week of 3/20/22

This Week in Powersports Business – For the week of 3/20/22

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


1 – SUPER73 Makes Major Product Announcements

Since its inception, California-based SUPER73 has challenged the conventions within the emerging e-bike community and helped expand the perception of personal transportation. The founders never wanted to limit their horizons, establishing the company as an American lifestyle adventure brand specializing in electric motorbikes. And with this mindset, a range of increasingly sophisticated electric motorbikes have emerged from the SUPER73 headquarters in Irvine, California. Each new model brought a stepped improvement in terms of technology and rider enjoyment, and 2022 will herald a new chapter in the fast-paced SUPER73 story when the biggest expansion plans to date are revealed.

Entry-Level SUPER73-Z Miami

SUPER73, Z-Miami
SUPER73-Z Miami

This new model is an evolution of the iconic Z1, one of SUPER73’s original products. The Z1 has been its most successful e-bike to date, thanks to its accessibility in terms of seat height and cost. The new SUPER73-Z Miami will continue to provide a fun and accessible entry point into the world of SUPER73 but with a raft of updates inspired by community feedback.

The new Z Miami features an extensive list of significant improvements to refresh the entry-level model, including a lightweight, aircraft-grade aluminum-alloy frame with improved ergonomics. The new frame construction will help to reduce weight, making it the lightest bike in the SUPER73 full-size lineup. This lightweight construction allows for easier transportation of the bike as well as improved agility while riding.

Additionally, the Z Miami has been upgraded with a convenient, removable battery, allowing more charging options. The model also comes with a new motor that will provide greater performance and the option of pedal assist. The SUPER73-Z Miami has even gained Bluetooth connectivity via the flexible SUPER73 phone app, which enables the user to change rider settings and more.

The internally geared brushless DC hub motor is capable of 1,200 watts of peak power. Coupled to a durable 615 watt-hour removable battery, the SUPER73-Z Miami is capable of providing more than 30 miles of range at 20 mph under throttle-only operation or approximately 50 miles of range using ECO pedal assist mode via the selectable riding modes in the SUPER73 phone app. Additionally, it will be supplied pre-wired for easy installation of optional accessory lighting. 

The 28-inch seat height will comfortably accommodate riders between 4-feet-6-inches and 5-feet-11-inches. This will allow the vast majority of people to enjoy the new SUPER73-Z Miami, which is a fun and accessible entry point into the world of SUPER73.

When it arrives in Spring of 2022, the Z Miami will be available in a fresh range of colors, including Powder Gray, Panthro Blue, Sriracha Red and Prickly Pink. The new model will also be compatible with a wide range of SUPER73 accessories, allowing riders to fully personalize it.

SUPER73-R Brooklyn

Launched in 2020, the flagship SUPER73-R and RX models have proven hugely popular with riders looking for a versatile electric motorbike that offers full suspension, high-performance disc brakes, a lightweight aluminum frame, and one of the most powerful motors in its class. The two models were very similar, which could make it difficult for customers to differentiate between them, and so it became apparent that additional features were needed for the R model.  

To address these observations, the SUPER73 design and engineering teams decided to provide greater clarity between the two products. For the 2022 Model Year, the SUPER73-RX will continue to offer a more overt off-road vibe, while the SUPER73-R Brooklyn will be focused on “street performance.” As such, it gains new street-specific SUPER73 LZRD tires for extended commuter rides. The tires were designed with micro knurling to improve cornering grip while balancing tire life. With good handling on the street, this modern tire was built to tackle the urban landscape while delivering longevity. 

Other refinements for street use include a new SUPER73 mid-rise “Drago” Chromoly handlebar to give the rider better control without compromising comfort. The bar is complemented by the Speedster Low Profile seat, which allows the rider to move around more freely when cornering and helps to ensure greater comfort for longer rides.

The SUPER73-R Brooklyn now includes a front and rear lighting package plus a horn — items that were previously reserved for the RX. The R Brooklyn also gets air assist for its inverted coil spring fork to enhance comfort and control, while its two-piston hydraulic brakes are retained.

As before, the SUPER73-R Brooklyn has a powerful, internally geared, brushless DC hub motor capable of 2,300 watts peak output. Powered by a state-of-the-art 960 watt-hour battery, the R can deliver more than 40 miles of range at 20 mph under throttle activation or in excess of 75 miles using ECO pedal assist mode, selected via the SUPER73 phone app.

As part of the 2022 MY update program, the SUPER73-R Brooklyn and RX models will be available in three colors: Obsidian, Blu Tang and Dark Earth. 

The SUPER73-R Brooklyn and RX models will be available from Spring 2022 and can be ordered via super73.com

2022 MY UPDATES

For the 2022 Model Year, all current SUPER73 models will receive new colorways to give them a fresh, new look. The new finishes will be available later this year. 

  • SUPER73-Z Miami: Powder Gray, Panthro Blue, Sriracha Red, Prickly Pink
  • SUPER73-ZX: Ron Burgundy, Panthro Blue, Agave Green
  • SUPER73-S2: Obsidian, Flannel Green, Bone White 
  • SUPER73-R Brooklyn and RX: Obsidian, Blu Tang, Dark Earth

SUPER73 Youth Series

SUPER73, Youth Series
SUPER73 Youth Series

SUPER73 has facilitated the creation of Super Squads, which have allowed owners to ride, explore and communicate together. And, one of the greatest assets to emerge from the Super Squad community is the feedback loop, which gives SUPER73 owners and enthusiasts direct access to the designers and engineers within the Californian brand’s headquarters.

The development of the new SUPER73 Youth Series is the direct result of customer requests for a kid’s bike, and it will be available for reservation from super73.com, giving children their first form of e-bike freedom. Customers can pre-order and secure their place in line with a $100 deposit at the introductory price of $995. 

The new platform came about because research revealed that a large percentage of existing SUPER73 riders had young families and were looking at ways to transform their riding experience into a family activity. This was particularly apparent during the COVID-19 lockdowns, where families were spending extended time together and needed regular “screen breaks” to keep the learning process fresh by creating real world adventures. This model will be a great way for children to get outdoors with the whole family. 

With few e-bike options for younger riders currently available, SUPER73 is seeking to create a new children’s e-bike market segment. Forging a new path, the SUPER73 Youth Series ergonomics are optimized for children aged from four to eight years old. A moto-inspired seat and modular foot controls bring a new level of ride comfort and performance for children. SUPER73 advocates safety gear for all riders, no matter their age. 

As riders grow, they will be able to graduate from the Youth Series to another model within the SUPER73 lineup, such as the new Z Miami, helping them continue to gain confidence while riding and to grow within the SUPER73 brand.

“We’re excited to create a new market that will allow families to spend more time together. We know the experience children gain will give them more confidence and independence, helping them to develop and to explore their environment. The Youth Series is the first in a number of new products aimed at younger riders, and we hope they will enjoy the freedom our products can bring throughout their lives, no matter what age,” said Michael Cannavo, co-founder and chief marketing officer at SUPER73.

Styling cues for the Youth Series pull from both existing SUPER73 DNA as well as nostalgic BMX frame elements, like the gooseneck and loop tail design. The lightweight aluminum frame provides agility and performance, and it can be easily carried by parents. The junior e-bike features stylish fat tires, a removable battery for charging convenience, and — in place of pedals — a red twist throttle to clearly communicate the control input to novice riders. 

The SUPER73 Youth Series is definitely not a toy. It’s equipped with a high-quality drivetrain and components that will ensure reliable performance throughout its life. The Youth Series is more than just a kid’s bike; it’s their first step into the two-wheeled world of fun and discovery.

The SUPER73 Youth Series will be available in late 2022.

SUPER73-C1X Concept

SUPER73-C1X Concept
SUPER73-C1X Concept

Even with all this great news, the headliner is undoubtedly the innovative SUPER73-C1X Concept. It has been designed to reformat and redefine the line between e-bike and motorcycle conventions. The C1X is a street-legal concept that will provide a “step-up” vehicle from the current SUPER73 offerings, elevating adventures by achieving motorcycle performance with dramatically reduced size and weight. 

Development of the C1X is the direct result of feedback from existing SUPER73 riders, a large percentage of whom expressed interest in graduating to a street-legal motorcycle. The radical C1X Concept represents a significant leap forward in the company’s development program to enable its worldwide band of loyal followers to make a logical transition from the existing SUPER73-RX flagship model. 

With a targeted top speed in excess of 75 mph, the production version of the C1X will require riders to possess a motorcycle endorsement to their driver’s licenses, vehicle registration and full insurance. However, its 31-inch seat height and minimal footprint mean it is lightweight and highly maneuverable, providing an ideal platform for riders wishing to pass the DMV riding test.

The SUPER73 design team began its research by studying the current crop of production motorcycles and addressing what prevented them from being accessible to core SUPER73 customers. Among its priorities was a reduction in the overall footprint of a typical motorcycle. This was accomplished with the introduction of 15-inch wheels versus typical 17-inch motorcycle counterparts. The team also took a revolutionary approach to mounting the motor rearward of the swingarm pivot point. This innovative architecture permitted an ultra-agile 51-inch wheelbase and removed the chain slack issues experienced with conventional motorcycles. Further enhancing the Concept’s agility is a mass-centralized chassis/battery configuration, the precise specification of which will remain under wraps until further testing is completed. Needless to say, SUPER73 is excited by the innovation that has spearheaded the entire program. 

Being born in Southern California, the SUPER73-C1X Concept explored utilization by urban commuters and adventure seekers alike. To this end, it will introduce a fast charging solution that will enable an 80% charge in less than an hour, providing a city range of approximately 100 miles. The Concept will also have a top speed of more than 75 mph, allowing it to bridge the gap between urban exploration and highway connectivity. With two wheels and its small footprint, C1X leaves the headache of parking to others. 

While the C1X design program began more than a year ago, it will be a moment before the public can purchase the first production units. Development is well underway, and SUPER73 is now accepting reservations for the C1X for a late 2023 production date. Reservations for the groundbreaking electric motorbike can be secured for $73, which not only allows customers to secure their place in line but also gives them an opportunity to provide feedback and stay up-to-date with development progress as the C1X moves closer to production. 


2 – Progressive IMS Outdoors Launches “Let’s Hit the Road” Sweepstakes

Progressive IMS Outdoors, the nation’s leading powersports tour connecting enthusiasts with industry-leading brands, today announced Let’s Hit The Road, a sweepstakes designed to celebrate the tour’s return to an outdoor series in its sophomore season.

One lucky winner will be the recipient of the grand prize package that includes four tickets to spend a weekend at Progressive IMS Outdoors in a city of their choice, in addition to highly sought-after tech and gear products that complement the powersports lifestyle, collectively valuing over $3,000. The sweepstakes is made possible by sponsors Bell Helmets, Brake Free Tech, Dunlop, EyeLights, Heroic Racing, Scott USA, and Spectro Oils.

Entries for the Let’s Hit The Road sweepstakes opens on Friday, March 18 and the winner will be selected and notified on Thursday, March 24, when 2022 tour ticket sales go live. Register here for a chance to win the grand prize detailed below:


Grand Prize Package:

Four tickets to a 2022 Progressive IMS Outdoors event
Four Progressive IMS Outdoors souvenir tees
Camping spot for up to three nights at Progressive IMS Outdoors
Event food and beverage vouchers
Scott USA Goggles and prize pack
Heroic Racing Hoodie
Brake Free Light
EyeRide Head Up Display
A set of Dunlop motorcycle tires
Bell Helmets – Race Star DLX Matte Carbon helmet
Spectro Oils prize pack


Visit continuetheride.com/sweepstakes to enter today for a chance to win the grand prize and secure your 2022 Progressive IMS Outdoors ticket at motorcycleshows.com when sales go live on March 24. The official 2022 tour dates and locations can be found below, including the Atlanta venue reveal.

Colorado

June 17-19, 2022

The Ranch Events Complex, Loveland, CO

Chicago

June 24-26, 2022

Goebbert’s Farm, Pingree Grove, IL

Pennsylvania

September 16-18, 2022

Carlisle Fairgrounds, Carlisle, PA

New York

September 23-25, 2022
Nassau Coliseum, Uniondale, NY

Atlanta

September 30-October 2, 2022

Atlanta Motor Speedway, Hampton, GA

Northern California

October 21-23, 2022

San Mateo County Event Center, San Mateo, CA

Arizona

October 28-30, 2022

Westworld of Scottsdale, Scottsdale, AZ

Southern California

November 4-6, 2022

OC Fair & Event Center, Costa Mesa, CA


3 – Yamaha Caps 2021 with Record Support of Public Land for Recreation

March 21, 2022 – Yamaha Motor Corp., USA, announces the Yamaha Outdoor Access Initiative’s (OAI) 2021 third- and fourth-quarter grants totaled in excess of $250,000, bringing last year’s funding to more than $600,000. Since 2008, Yamaha OAI has been steadfast in serving the motorized and outdoor recreation community, contributing over $5 million in essential support for local and national organizations working to preserve and improve access to public land, fostering productive partnerships between recreationists and land managers, and delivering much-needed funds for safe, responsible recreation.

“The surge in outdoor recreation is both gratifying and daunting. While we love to see families enjoying time spent outside, it amplifies the need to work together to preserve and protect the land so we can appreciate it today and in the future,” said Steve Nessl, Yamaha’s Motorsports marketing manager. “Considering the uptick in use and resulting attention and resources our nation’s public spaces require, we are proud to approve thirty new Yamaha Outdoor Access Initiative grants in 2021 – the most we’ve awarded in one year since 2009.”

From inception, Yamaha OAI has selected projects with the highest potential of providing recreationists with increased and improved opportunities to enjoy the United States’ outdoor public spaces. In the latest funding rounds, the organizations awarded for support include both national and local footprints with diverse communities and interests to create a comprehensive approach to advocacy for access to public land for outdoor recreation.

“We’ve worked with Yamaha and their Outdoor Access Initiative for more than a decade. Together in that timeframe, we’ve launched our One Voice program and matched numerous riding groups with public land managers to establish formal partnerships mutually benefitting everyone’s interests in access to land,” said Fred Wiley, president and CEO of the Off-Road Business Association (ORBA). “Yamaha has a tradition of stepping into leadership roles to support the off-road riding community and ensure opportunities to ride safely and responsibly exist for generations to come.”

ORBA is among the recipients of the third-quarter 2021 Yamaha OAI grants in addition to the following organizations:

  • Future School of Fort Smith (Fort Smith, AR)
  • Lakeland ATV Club (Minocqua, WI)
  • Nevada Outdoor School (Winnemucca, NV)
  • The Great Outdoors Fund (National)

2021 fourth-quarter Yamaha OAI grants were awarded to:

  • City of Caribou (Aroostook County, ME)
  • University Medical Center of El Paso (Texas)
  • Motorcycle Riders Association (Medford, OR)
  • National Forest Foundation (Flagstaff, AZ)
  • Pathfinders Motorcycle Club of Connecticut (Thompson, CT)
  • San Diego Off-Road Coalition (Calif.)
  • Three Rivers Land Trust (Salisbury, NC)
  • Wild Rivers Coast Mountain Bicycling Association (Coos Bay, OR)

The application deadline for consideration in the first quarter of 2022 funding cycle is March 31, 2022. Submission guidelines and an application for a Yamaha OAI grant is available at YamahaOAI.com. Connect with Yamaha on social media via @YamahaOutdoors or search any of the following hashtags on all platforms: #Yamaha #YamahaOAI #REALizeYourAdventure #ProvenOffRoad #AssembledInUSA

About the Yamaha Outdoor Access Initiative

Since 2008, the Yamaha Outdoor Access Initiative has led the Powersports industry in supporting responsible access to our nation’s public lands for outdoor enthusiasts. With more than $4.5 million contributed to 400 projects across the country, Yamaha has directly and indirectly supported thousands of miles of motorized recreation trails, maintained and rehabilitated riding and hunting areas, improved staging areas, supplied agricultural organizations with essential OHV safety education, built bridges over fish-bearing streams and partnered with local outdoor enthusiast communities across the country to improve access to public lands. Each quarter, Yamaha accepts applications from nonprofit or tax-exempt organizations including OHV riding clubs and associations, national, state and local public land use agencies, outdoor enthusiast associations and land conservation groups with an interest in protecting, improving, expanding and/or maintaining access for safe, responsible and sustainable public use.

Updated guidelines, application form, information and news about the Outdoor Access Initiative are available at YamahaOAI.com. For specific questions about the Yamaha Outdoor Access Initiative, call the dedicated hotline at 1-877-OHV-TRAIL (877-648-8724), email OHVAccess@Yamaha-Motor.com, or write to:

Yamaha Outdoor Access Initiative
Yamaha Motor Corp., USA
3065 Chastain Meadows Parkway, Bldg. 100
Marietta, GA 30066


4 – Taiga Begins Deliveries of Electric Snowmobiles

Taiga Motors Corporation (“Taiga” or the “Company”) (TSX: TAIG)a leading electric off-road vehicle manufacturer, today announced it initiated deliveries of its first Nomad™ snowmobiles. Taiga’s 2022 Nomad marks its world’s first electric snowmobile sale as the company continues to ramp up production. By electrifying one of the most challenging vehicles in the off-road segment, this milestone positions Taiga as an innovator in the powersports industry.

“The delivery of our Nomad snowmobile is the realization of a seven-year vision to provide riders an electric snowmobile that does not compromise performance while preserving the environment,” said Taiga CEO Sam Bruneau. “Our customers are now able to experience firsthand the revolutionary technology and cutting-edge design that makes Taiga a sustainable alternative while outperforming traditional powertrains. We are just getting started in pushing the boundaries of what our technology can do and are laser-focused on ramping up snowmobile deliveries.”

Taiga snowmobiles allow outdoor enthusiasts to consciously explore winter terrains without compromising performance, noise, reliability, and efficiency. Leveraging a clean sheet design and mechanically simplified snowmobile platform, Nomad delivers optimized functionality for workhorse tasks, family outings, or trail riding. No powertrain maintenance, customizable drive parameters, and hyper-precise throttle control contribute to Nomad’s ease of use and approachability. Bringing peak performance in all conditions and standard automotive charging, Taiga is setting the standard for durability and reliability in electric snowmobiles.

For full pre-order reservation details on electric snowmobiles and personal watercraft, please visit taigamotors.ca.

About Taiga

Taiga is a Canadian company reinventing the powersports landscape with breakthrough electric off-road vehicles. Through a clean-sheet engineering approach, Taiga has pushed the frontiers of electric technology to achieve extreme power-to-weight ratios and thermal specifications that outperform comparable high-performance combustion powersports vehicles. The first models released include a lineup of electric snowmobiles and personal watercraft to deliver on a rapidly growing demand from recreational and commercial customers who are seeking better ways to explore the great outdoors without compromise.

https://www.taigamotors.ca

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws, including statements with regards to the anticipated performance of customer deliveries, the expected production times and customer demand for Taiga’s products. Forward-looking statements generally, but not always, can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “could”, “would”, “will”, “expect”, “intend”, “estimate”, “forecasts”, “project”, “seek”, “anticipate”, “believes”, “should”, “plans” or “continue”, or similar expressions suggesting future outcomes or events and the negative of any of these terms. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, those described in the management’s discussion and analysis for the three and nine month periods ended September 30, 2021, and under “Risk Factors” in the final non-offering prospectus dated March 26, 2021, of Taiga (formerly Canaccord Genuity Growth II Corp.).

Forward-looking statements reflect management’s current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements.

All forward-looking statements included in this news release are qualified by these cautionary statements. Unless otherwise indicated, the forward-looking statements contained herein are made as of the date of this news release, and except as required by applicable law, Taiga does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 


5 – Lucas Oil Partners with National Medal of Honor Museum Foundation

Lucas Oil Products, the world leader and distributor of high-performance automotive additives and lubricants, today announced a multi-year partnership with the National Medal of Honor Museum Foundation. As part of the partnership, Lucas Oil will develop a fundraising and awareness campaign in support of the Foundation’s overall mission to commemorate the stories of Medal of Honor recipients, unite Americans around what it means to be patriotic, and inspire us to find the hero within ourselves.

“I cannot think of a better way to honor our country’s patriots than creating a permanent home for these stories of courage, devotion to duty, and personal sacrifice,” said Lucas Oil Vice President of Strategy and Philanthropy, Katie Lucas. “Lucas Oil is a product of the American Dream, which only underscores the importance of giving all those who served the recognition they deserve and honoring the tremendous role their service and sacrifice have played in protecting our freedoms and the American way of life.”

To be located in Arlington, TX, the Museum will pay tribute to the Medal of Honor and the fewer than 4,000 individuals who have earned our nation’s highest military award, representing every branch of the U.S. Armed Forces across every major conflict since the Civil War. State-of-the-art exhibits and a dedicated Leadership Institute will allow Americans of all ages, and from all walks of life, to reflect on values the Medal represents and the tremendous impact of all U.S. military service members and veterans. Groundbreaking on the Museum will take place on March 25, National Medal of Honor Day.

“We are delighted to have the great patriots of Lucas Oil join us in our crusade to inspire patriotism in our people through the lives and example of some great American warriors,” said Medal of Honor recipient and retired Army General Patrick Brady.

To date, the NMOHMF has raised over $167 million for the project in recognition of the highest American military award for valor, and Museum groundbreaking is scheduled for early this year. In December, President Biden signed into law the National Medal of Honor Monument Act which authorizes the Foundation to construct a Medal of Honor Monument in Washington, DC. The legislation passed both the U.S. House and U.S. Senate unanimously 416-0 and 100-0, respectively which is further evidence of the unifying power of this long-overdue project.


6 – MSMA CHAIRMAN STEFAN PIERER EXTENDS WELCOME TO NEW GENERAL SECRETARY

Mr. Stefan Pierer, KTM AG CEO and the current Motorcycle Sport Manufacturers’ Association (MSMA) chairman for a period including 2021-2022, met with Mr. Biense Bierma as the new General Secretary begins his rounds of MSMA participants in what is a new era for the association.

KTM opened doors to Mr Bierma in Austria as the union of the principal manufacturers for sanctioned world championship racing continues to flourish. The MSMA features the management committees of a number of companies and brands at the top level of motorcycle competition including all six of the leading firms in MotoGP™: Aprilia, Ducati, Honda, KTM, Suzuki and Yamaha.

The MSMA was created 30 years ago as a representative body for the constructors taking part in Grand Prix. Its objectives are to foster the development of motorcycle sports and enhance their worldwide image and reputation together with the FIM and series’ promoters.

It not only helps in deciding sporting and technical rules but also pushes for other short and long-term concerns such as safety protocols, costs and sustainability in a range of series’. The MSMA is one of four entities in the MotoGP Grand Prix Commission (together with the FIM, Dorna and IRTA) but is also implicit in the management process of championships both onroad and offroad.

Stefan Pierer, CEO KTM AG & current MSMA Chairman: “The last two years have been challenging in a number of ways for the motorcycle industry and there has been strong solidarity between the manufacturers through the MSMA. The new appointment of the General Secretary, Biense Bierma, should allow us to continue in this positive direction both for wider subjects as well as sporting ones in highly visual and important championships such as MotoGP. We are thinking about safety, we are thinking about sustainability and we want to work on the long-term future of racing whether it is with slick tires or off-road treads. It was a pleasure to talk with Biense in his first trip to KTM and as he starts the process of visiting all the manufacturers. We are sure that we will be able to work efficiently and smoothly for the benefit of the brands as well as the sport in the years to come.”

Biense Bierma, General Secretary MSMA: “It was a great honor to meet Mr. Stefan Pierer as the MSMA Chairman and the CEO of KTM AG and to have an open talk about racing in general and the long-term future of racing for both onroad and off-road. To be able to visit the KTM facilities, meeting and knowing other people for me is of highly added value and I’m really looking forward visiting other manufacturers soon. I want to thank Stefan for his trust and the trust of all the other manufacturers to represent them collectively in all their motorsport activities for now and the future.”


7 – MIC Board of Directors Elects Officers, Welcomes New Directors

The Motorcycle Industry Council Board of Directors re-elected officers and welcomed three new directors.

The board re-elected the officers who were selected in the December special election held after the previous chairman, Paul Vitrano, stepped down. In this month’s meeting, Chuck Boderman of American Honda Motor Co., Inc. was re-elected chairman of the board; Kawasaki’s Bill Jenkins was re-elected as vice chairman; and Jim Woodruff of National Powersport Auctions was re-elected as treasurer/secretary.

“The MIC board reflects the financial investments made by the ten largest OE members and adds new voices to our discussions about current challenges and the industry’s future,” Boderman said. “We will continue to support the growth of the powersports industry and its expanding landscape. I welcome the new directors and I look forward to working on behalf of the entire powersports industry.”

The new MIC board includes representation from across powersports:

Nicole Allen, Comoto Holdings
Chairman Chuck Boderman, American Honda Motor Co., Inc.
Derek Brooks, Yamaha Motor Corporation, U.S.A.
Jeff Brown, EagleRider
Tim Calhoun, Hisun Motors Corp., U.S.A.
Kerry Graeber, Suzuki Motor USA, LLC
Robin Hartfiel, Dealernews
John Hinz, KTM North America, Inc.
Vice Chairman Bill Jenkins, Kawasaki Motors Corp., U.S.A.
Erik Larson, Piaggio Group Americas*
Joey Lindahl, Polaris, Inc.
Rod Lopusnak, Triumph Motorcycles America
Shawn McLean, BMW Motorrad USA*
Jeff Proctor, BRP, Inc.*
Secretary/Treasurer Jim Woodruff, National Powersport Auctions

The complete list of MIC Board members can also be found here.


8 – HAMMER NUTRITION BECOMES THE OFFICIAL “FUELING” COMPANY OF FACTORYONE SHERCO RACING

FactoryONE Sherco has announced a new “fueling” sponsorship with Hammer Nutrition. The Whitefish, Montana, company is the originator in endurance sports nutrition, having gotten its start more than 30 years ago. During that time, it has developed the most effective, natural products free of added sugars, artificial colors, flavors, chemicals and preservatives. It uses only complex carbohydrates, the highest quality proteins and ingredients in its 100% made in the U.S. products.

“I am thrilled to formalize our partnership with the FactoryONE Sherco Team,” said Hammer Nutrition founder Brian Frank.”  We’ve supported many of their riders individually for many years, so it’s great to be able to expand our efforts to help all of their riders and mechanics with an effective hydration and nutrition program, allowing them to perform at their best every time they compete.”

As the official nutrition partner of FactoryONE Sherco, Frank and his team have developed enduro and trial specific fueling and recovery programs that hone in on the athletes’ particular needs, whether is a six-hour hard enduro or for the three loops of a trials national. For more information about these sport specific packages, visit https://factoryonemotorsports.com/hammer-nutrition-enduro-trial-pack/

“As an endurance athlete, I have always relied on Hammer products,” said Sherco USA’s Chief Marketing Officer Bryan Kraham. “From the Ironman triathlon to 100k trail runs, they have always fueled me to the finish with no GI distress. I also rely on Hammer products while I am on my Sherco. I tell my endurance friends that there is no better full body workout than riding a dirt bike for a few hours. While riding, I will use everything from gels to hydration and other forms of fueling,” continued Kraham. “At my age, I really depend on their recovery products that help me get right back on the trail the next weekend. It is great to see Brian taking his love for off-road motorcycles and his passion for proper fueling and combining them into one.”


9 – Drag Specialties adds Northeast region sales rep – and his six bikes!

Drag Specialties has announced that Ralph Bonin is the newest sales rep for the Northeast region covering New Jersey.

Bonin comes to the company with vast industry knowledge on the dealership level, having held positions ranging from service to sales to management and is also involved in motorcycle safety awareness. His extensive riding experience includes growing up on dirt bikes, racing ATV MX and riding 10-15K miles a year on one of his six motorcycles. His current “daily” ride is a 2015 FLHP hot rod.

Ralph Bonin

In his free time, Bonin enjoys spending time with two sons and their hobbies as well as being a musician, playing guitar, bass, drums and writing and recording his own music.


10 – Industry Leader Mel Harris PassesFrom Cycle News

Mel Harris, best known for his years heading up the motorcycle division of Suzuki in America, died on Sunday, March 20, 2022, after a two-year battle with cancer. He was 76.

Industry Leader Mel Harris Passes

Harris moved up the ladder at Suzuki, starting with the company in 1981 as a district sales manager in New England, then to regional manager in Chicago, before becoming an assistant national sales manager, national sales manager, marketing director, and finally VP of motorcycle/marine operations.

After leaving American Suzuki at the end of 2008, Harris worked for Quantya Electric Motorcycles, ATK, and most recently for SSR Motorsports as Vice President of Operations.

Under Harris’ direction, Suzuki had some of its biggest successes, both in the showroom and on the track.

Harris was a major believer in racing and as such, during his term heading up American Suzuki, he was largely responsible for hiring one of the most impressive rosters of racers in the history of American motorcycle racing.

Travis Pastrana, Ryan Dungey, Jeremy McGrath, Nicky Hayden, Mat Mladin, Ben Spies, Aaron Yates, Greg Albertyn and John Hopkins were just a few of the riders Harris helped bring on board at Suzuki.

By far the biggest coup for Harris came in 2005, when he hired Ricky Carmichael away from Honda. Carmichael was coming off a serious knee injury and many wondered if he would continue to be the racer he was before the injury. With Suzuki Carmichael won every outdoor national in 2005, en route to totally dominating the premier class in the AMA Motocross Championship.

“Mel will be deeply missed,” Carmichael said. “I really enjoyed my time working with Mel, he was so kind and really put his neck on the line for me personally when I came to Suzuki.  I will forever be grateful to him for that.  Aside from me, he was always so respectful to everyone he was around and worked with.  He never singled anyone out and always made each individual feel like they were just as important as the next person, no matter their position.  It takes a special person to have that approach in life, and he was that guy!  He loved his family so much and my deepest condolences go out to them.”

Kevin Schwantz remembers the anguish he felt after crashing out of the lead of the 1987 Daytona 200 and how Mel did his best to make him feel better afterwards.

“I had a huge lead about three-quarters of the way through the race when I crashed,” Schwantz recalled. “I wanted to dig a hole and bury myself in it. Mel came up and put his arm around me and said, ‘You showed them what you had. You were the fastest guy out there. Don’t beat yourself up over trying to win a race. You’ll come back and get them next year.’

“So one of my all-time favorite photos is from the winner’s circle when I won it the next year, and there’s Mel in the picture with the biggest ear-to-ear grin you’ve ever seen.”

Harris’ son-in-law Ken Faught echoed what so many people thought of Mel. “You couldn’t meet a nicer guy,” Faught said. “He someone who was always encouraging and looking on the bright side of things. He was a great man and we are going to miss him.”

During his career, Harris served on the Board for Trustees for the American Motorcyclist Association (AMA), as well as serving as Vice Chairman and Treasurer of the Motorcycle Industry Council (MIC).

He is survived by wife Gail, sons Scott and Shawn, daughters Kimberly and Amy and his brother Ray as well as six grandchildren.

A celebration of life for Mel will be held on April 24 from 10 am-2 pm at Pole Position Raceway, 1594 E. Bentley Dr, Corona, CA 92883. The public is welcome.

Larry Lawrence

Suzuki issued this statement:

Suzuki joins the rest of the powersports industry in remembering former executive Mel Harris who passed away Sunday after a long battle with cancer. Mel was a long-time Suzuki employee, first joining the company in June, 1981 and remaining with Suzuki through December, 2008.

During his long tenure with Suzuki, Mel held many sales positions ranging from Regional Sales Manager to his last position as VP, Sales and Marketing. Mel was also Suzuki’s representative on the AMA Board of Directors.

Perhaps Mel’s greatest strength was his relationship with Suzuki dealers. He knew many on a personal level and took pride in being a strong advocate for their businesses. Mel was also a passionate supporter of racing and was involved in many Suzuki championships in the past.

Many will remember the Suzuki dealer meetings that Mel oversaw. Determined to entertain dealers at all costs, Mel loved to try and top himself year after year. Whether he came on-stage astride an elephant, by jetpack, or suited up as “Melvis” (Elvis Presley) Mel loved to put a smile on dealers’ faces while delivering important product and sales information.

Mel was truly one of a kind and will be sadly missed. Please join Suzuki in offering our thoughts and prayers to Mel’s wife Gail and the rest of his family.


11 – SBJ Capital Sells Troy Lee Designs to 2Ride Group

Private equity firm SBJ Capital announced last week that it has sold Troy Lee Designs to 2Ride Group (2RH), the group specializing in the design and production of moto equipment and majority-owned by Eurazeo, the largest private equity fund based in France, PE Hub reported.

TLD is known for its bold, distinctive aesthetic, and the California brand will round out 2RH’s moto portfolio. TLD and 2RH will jointly develop new bike and moto products, leaning on TLD’s success in the United States and 2RH’s established presence in Europe to strategically expand the brands’ global reach.

What will happen next is a “synergistic integration” of TLD into 2RH, which will be led by TLD founder Troy Lee, TLD CEO Jason Steris, and 2RH CEO Christophe Sicaud to combine the two brands’ strengths.

“Many thanks to SBJ for partnering with me and our executive team to take TLD to this next level. I also want to thank my family who has persevered with me and helped make all of this happen. Over the past 41 years, it has been my dream and passion to create and design safety products and iconic graphic designs. I’ve had the opportunity to work with incredible artists and amazing athletes all over the world. With the 2Ride partnership, I am totally energized to continue the journey and expand my dream, and I couldn’t be more excited for this next chapter to get started.”—TLD Founder Troy Lee

“I couldn’t be more proud of what Troy, SBJ, and our management team were able to accomplish together. SBJ has been a supportive partner since day one, working alongside the team to professionalize the business and help us achieve this outcome. Joining the 2Ride Group is an exciting new chapter. The TLD and 2RH teams share a lot of the same values – a commitment and passion to deliver the safest, best-in-class protective products. This partnership will collectively make our businesses stronger, so that we can continue to elevate the TLD brand experience for racers and enthusiasts worldwide.”—TLD CEO Jason Steris

“It doesn’t seem that long ago that I first met Troy and we started talking about how to take his iconic racing brand to the next level while riding trails around Laguna. To realize that vision over the years and be a part of all the company has accomplished has been exceptionally rewarding for us at SBJ. We are confident that 2Ride and Eurazeo are the perfect partners for TLD and we can’t wait to see all the business we’ll continue to accomplish in the years ahead.” —SBJ Co-Founder and Managing Director Tom Barber

What a ride it has been with Troy, Jason, and the rest of the team since we partnered together five years ago. The success they have achieved is a testament to the authenticity of the TLD brand and the design quality of the TLD products. We can’t thank Troy enough for trusting us as his partner over the years and Jason and the team for working with Troy and SBJ to rapidly grow this iconic and enduring brand.—SBJ Co-Founder and Managing Director Bill Jesse


12 – BRP ANNOUNCES THE RETURN OF THE CAN-AM MOTORCYCLE WITH AN ALL-ELECTRIC LINEUP

Riders can expect these new state-of-the-art electric Can-Am motorcycles to be perfect for everyday commuting and, to stay true to the track & trail heritage of the brand, recreational on- and off-road riding.

BRP Inc. (TSX:DOO; NASDAQ:DOOO) announces today that the iconic Can-Am brand is returning to its motorcycle roots with a product line-up that will be completely electric. To mark the 50th anniversary of the beloved Can-Am brand, the Company will launch a family of electric 2-wheel motorcycles.

“With the motorcycle industry shifting to electric, we saw an opportunity to reclaim our motorcycle heritage and to re-enter the market. This new product category is extremely important to us, and we are thrilled that Can-Am motorcycles are the first EV models in BRP’s electric lineup to be confirmed to consumers. Many of us have very fond memories of riding the early dirt bike models, and now we look forward to building on the rich history of the Can-Am brand to inspire and impress a new generation of motorcyclists and electric vehicle enthusiasts”, said José Boisjoli, President and CEO of BRP.

The first Can-Am motorcycle was introduced in 1973 and immediately reigned over motocross and endurance racing. The instant success elevated the brand to an iconic status right from the start. Half a century later, the new products have been developed with many different riders in mind, more specifically for those who crave adventure, seek the thrill of the open road, long for a quiet ride in the country or want to liven up the city streets. Riders can expect these new state-of-the-art electric Can-Am motorcycles to be perfect for everyday commuting and, to stay true to the track & trail heritage of the brand, recreational on- and off-road riding.

Such a product category has been highly anticipated and expected from BRP’s customers and dealer network. The Company is therefore looking forward to bringing this new electric product lineup to its dealers’ showroom floors, further solidifying their financial strength and reach in key markets. The first models of the complete lineup are expected to be available in mid-2024.

BRP’s existing dealers who are interested in carrying this new product line should contact their District Sales Managers. Those who are interested in becoming a BRP dealer for electric motorcycles are invited to submit a request on the Company website.


13 – Dealership prepares for 110th anniversaryFrom Powersports Business

When you celebrate your dealership’s 110th anniversary, you let the world know! Kegel Harley-Davidson in Ohio is ramping up for the 110th celebration on March 30. The dealership will host a free toast at 11 a.m. at the shop, with muffins also available.

READ THE ENTIRE POST – https://powersportsbusiness.com/top-stories/2022/03/25/dealership-prepares-for-110th-anniversary/


14 – Powersports Business Honors night to recognize top dealers, staffFrom Powersports Business

As part of its 25th-anniversary celebration, Powersports Business is inviting you to join us for the inaugural Powersports Business Honors night, where we put the spotlight on dealerships, their owners, and staff who accelerate our industry on a daily basis.

READ THE ENTIRE POST – https://powersportsbusiness.com/blogs/from-the-editors/2022/03/24/powersports-business-honors-night-to-recognize-top-dealers-staff/


15 – Parts Unlimited adds Central Region sales rep – and her race trophies!

Parts Unlimited announced that Lori Dusky is the newest sales rep for the Central region, covering Tennessee, Kentucky and Virginia.

Dusky’s industry experience includes sales management on the manufacturer level as well as being a product specialist and demo rider for Kawasaki. She is an avid dirt bike racer and has won several Virginia Championship Hare Scramble Series class championships, as well as other out-of-state series, riding a 2021 Husqvarna. She also spent several years as the VCHSS awards coordinator.

Lori Dusky

In her spare time, she enjoys camping with friends and family, outdoor activities, and playing in the dirt.


16 – Volcon ePowersports Reports 2021 Financial Results and Provides Corporate Review

Volcon Inc. (NASDAQ: VLCN) (“Volcon” or the “Company”), an all-electric, off-road powersports company, today reported its financial results for 2021. The Company also provided a corporate update on its business from the past calendar year.

Company Highlights:

  • Launched development of our two and four-wheeled vehicles in October 2020, less than one year after the formation of the Company.
  • Began taking direct-to-consumer (DTC) orders for the Grunt, our first motorcycle, in late 2020.
  • Shipped our first Grunt in September 2021, less than a year from the start of vehicle development.
  •  Completed our initial public offering (IPO) and listing on the NASDAQ under the ticker symbol VLCN in October 2021 and a follow-on public offering in February 2022.
  •  Signed distribution agreements for Mexico, Costa Rica, Paraguay, Guatemala, Belize and Panama with initial orders received in 2021 and first shipments beginning in January 2022.
  • Through March 2022 signed over 70 dealers with nearly 370 dealership applications now in the queue.

Jordan Davis, CEO notes, “Volcon has closed out 2021 with some great accomplishments.  Starting an EV company and delivering the first vehicle within a year of vehicle development is very rare in this industry, yet we were able to accomplish this even with significant challenges such as the pandemic and supply chain constraints, particularly with respect to battery cells and plastic. By opportunistically buying in advance of our needs, we were able to keep manufacturing lines operating, albeit slower than we would have liked.”  Davis continued “We are working to broaden our supply base by leveraging our existing relationships and establishing new ones.”

Davis continued, “We identified a number of operational areas for improvement to meet our scaling demand.  In December 2021, we redesigned and relocated our Grunt manufacturing line. This move ultimately improved single shift production capacity to nearly five times that of our previous facility.”

“In January 2022, the Company hired Stephanie Davis as chief operating officer.  She brings years of experience in manufacturing, including four wheel drive vehicles.  Stephanie Davis notes, “While we hope to make additional improvements, we are already seeing improvement in efficiency and throughput.  Throughout the upcoming year, we intend to focus on continuous improvement and lean manufacturing disciplines, as we continue to ship Grunts to market.”

Greg Endo, CFO, comments, “We have improved our operations in ways we believe will reduce costs and increase output.  However, we recognize the current challenges in the global economy and especially the financial markets.  The costs to develop our vehicles are high, and we will need to continue raising capital to meet our objective of being the leader in the EV off-road powersports industry.  We are focused on creating long-term shareholder value by reducing costs and making investments in people and processes to develop, manufacture, and sell our vehicles that we believe will make Volcon the most recognized brand in the EV off-road powersports industry.  In the short run, this will continue to be costly, but we believe it is the best plan for setting the company up for financial success in the long run.”

Finally, Davis notes “looking forward, we are focused on increasing revenue, improving profitability, and expanding our product range in part through new offerings in the motorcycle division, a foray into eBikes, and the further development of our flagship UTV, the Stag. We welcome the curves in the trail as we navigate the road ahead.”

Financial highlights:

  • First Grunt delivery to customers: On September 15, 2021, Volcon delivered the first Grunt and has delivered a total of 75 Grunts to customers in 2021 and recognized $449K in total revenue in 2021, which includes accessory sales.
  • Net loss: The Company’s net loss for 2021 was $40.1 million. The loss includes share-based compensation expense of $14.6 million and a write down of inventory and inventory deposits of $5.5 million in the fourth quarter to adjust these balances to their net realizable value.
  • Adjusted EBITDA: The Company’s adjusted EBITDA for 2021 was a loss of $24.4 million. Adjusted EBITDA is a non-GAAP financial measure, which we reconcile below and define as net loss before interest, taxes, depreciation, and amortization, loss on repayment of promissory notes, and share-based compensation expenses.
  • Follow on public offering: Volcon completed a follow-on public offering on February 1, 2022, in which it sold 6.667 million shares of common stock and raised over $18 million after expenses and commissions to underwriters.
  • Sustaining engineering group has made progress to reduce Grunt production costs in an effort to become profitable and improve the stability of the supply chain.

For the latest company updates, follow Volcon on YouTubeFacebookInstagram, and LinkedIn. Investor information about the company, including press releases, company SEC filings, and more can be found at http://ir.volcon.com.  Information on our website or social media accounts is not incorporated by reference into our SEC filings.

About Volcon

Volcon Inc. is an all-electric, powersports company producing high-quality off-road vehicles. Based in Round Rock, Texas, Volcon joins many major electric vehicle manufacturers near Austin, Texas, an area that is poised to become the electric vehicle capital of the world.

Volcon was founded with the mission to enhance the outdoor experience while reducing the industry’s environmental footprint so that adventurers and workers alike can enjoy the outdoors and preserve it for generations to come. Volcon produces all-electric, off-road vehicles that are designed to elevate the adventure experience and help people get things done at work and on the home front.

Volcon’s first product, the innovative Grunt, combines a fat tire physique with high-torque electric power and a near-silent drive train which started shipping in September of 2021. Future models may include the Runt, which is a youth-sized version of the groundbreaking Grunt and an eBike, the Brat. The Stag and Project X are expected to be Volcon’s venture into the rapidly expanding world of UTVs and coming in future years as the Company continues to expand.

Volcon Contacts

For more information on Volcon or to learn more about its complete motorcycle and side-by-side line-up, visit: www.volcon.com

NON-GAAP RECONCILIATION

We believe presenting adjusted EBITDA provides management and investors consistency and facilitates period to period comparisons of operations, as it eliminates the effects of certain variations to overall performance.

The following table reconciles net loss to adjusted EBITDA for the year ended December 31, 2021 (in millions):

Net loss        (40.1)
Share-based compensation expense14.6
Depreciation and amortization expense0.2
Interest expense0.1
Loss on repayment of promissory notes0.8
  Adjusted EBITDA        (24.4)

Forward-Looking Statements

Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ”believes,” ”estimates,” ”anticipates,” ”expects,” ”plans,” ”projects,” ”intends,” ”potential,” ”may,” ”could,” ”might,” ”will,” ”should,” ”approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC, which is available on the SEC’s website, www.sec.gov.


This Week in Powersports Business – The week of 3/13/22

This Week in Powersports Business – The week of 3/13/22

For the week of March 13, 2022.

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


1 – NPA names Robinson to new post in SacramentoFrom Powersports Business

National Powersport Auctions (NPA) announced the promotion of Austin Robinson as the new general operations manager of its Sacramento facility. In this new role, Robinson will be responsible for all day-to-day operations along with the growth and leadership of the NPA Sacramento team.

READ MORE AT – https://powersportsbusiness.com/top-stories/2022/03/13/npa-names-robinson-to-new-post-in-sacramento/


2 – Longtime Ducati service, repair shop gets new homeFrom Powersports Business

Mark Sutton’s DucShop, the service and repair shop in the Atlanta area that has been in business since 1991 to meet demands for high-performance Ducati work, announced on its website that it is now part of W.O.W. Motorcycles, also located in Marietta.

READ MORE AT – https://powersportsbusiness.com/top-stories/2022/03/12/longtime-ducati-service-repair-shop-gets-new-home/


3 – Rest in Peace – Dick LecheinFrom Cycle News

Dick Lechien, the founder of Maxima Racing Oils and father of AMA Motocross Champion and AMA Hall of Famer Ronnie Lechien, passed away peacefully in his sleep on March 10, 2022. He was 85 years old. Lechien is survived by his wife Pat, son Ronnie and daughter Lorrie.

READ MORE HERE – https://www.cyclenews.com/2022/03/article/dick-lechien-passes/


4 – Best in Class Dealership Awards program launchesFrom Powersports Business

Powersports Business is proud to announce the launch of the nomination form for the inaugural PSB 2022 Best in Class Dealership Awards, showcasing the success of dealerships of all sizes in a particular segment of their business.

The Best in Class Awards are the first of their kind in the industry, allowing individual dealerships to showcase their teams and processes that led to success in 2021. Dealership staff are encouraged to ask their managers to apply in one or more categories. For example, your dealership might choose to apply for Best in Class for Marketing – TikTok. All application responses would be related to your dealership’s TikTok success in 2021. Similarly, you might be applying for Best in Class for F&I – Prepaid Maintenance. Then you would share the strength of that segment of your business. Apply in one category or apply in all categories; dealerships can even create their own category.

READ MORE AT https://powersportsbusiness.com/top-stories/2022/03/15/best-in-class-dealership-awards-program-launches/


5 – Investcorp agrees sale of Dainese SpA

Investcorp, a leading global manager of alternative investment products, today announces it has reached an agreement on the sale of Dainese SpA (“Dainese” or “the Company”) to global investment firm Carlyle (NASDAQ: CG) for an enterprise value of €630 million.

Founded in 1972, Dainese is a leader in protective equipment and technical gear for motorcycling and dynamic sports. The Company is present across EMEA, APAC and the Americas – and distributes its products across more than 100 countries.

Investcorp acquired Dainese in January 2015 from its founder, Lino Dainese, and has worked closely with the management team to drive both international growth and expansion of the Company’s product offering. Under Investcorp’s ownership, Dainese more than doubled its sales to €250 million, and grew EBITDA at a double-digit rate on a compounded basis each year. Over a seven-year journey, Dainese evolved from an Italian, product-focused, business into the global standard for dynamic sport protection.

Hazem Ben-Gacem, Co-Chief Executive Officer at Investcorp, said: “Six years ago when we invested in Dainese, the founder Lino Dainese said he wanted a partner that shares his passion and ambition for his company. It’s satisfying to know that Investcorp have been that partner to Dainese, as under our leadership we facilitated EBITDA growth of more than five times and created a business well positioned for continued success. We will continue on our mission to support exceptional Italian brands in their journey to become world leaders. Gucci, Riva Boats and Dainese are just a few of Italy’s best that we had the honour to partner with and support – that mission shall continue at Investcorp.”

Nicola Ferraris, Managing Director at Investcorp’s European Private Equity group, added: “In 2015 we saw the opportunity to transform a strong brand and a product-led organization into a global platform, by professionalizing the business, driving organic international expansion and carrying out add-on acquisitions. It was an immense pleasure working with the Dainese leadership and we wish Cristiano and his team continued success in their next phase of growth.”

Cristiano Silei, CEO of Dainese, added: “Investcorp has been a true partner to us over the last seven years supporting the transformation of Dainese which is now in great shape for further international expansion.”

Since 2012, Investcorp has invested €1.6 billion in companies across Europe. The successful sale of Dainese follows successful previous investments in other Italian brands, such as Gucci and Riva. Investcorp’s current Italian portfolio includes CloudCare, Vivaticket and Corneliani.


6 – Dealership named Sea-Doo District Dealer of the YearFrom Powersports Business

Cedar Creek Motorsports in Cedarburg, Wisconsin, has been named a Sea-Doo 2021 District Dealer of the Year for the Central U.S.

READ MORE HERE – https://powersportsbusiness.com/top-stories/2022/03/16/dealership-named-sea-doo-district-dealer-of-the-year/


7 – CycleTrader returns as sponsor of 2022 PSB Accelerate Conference From Powersports Business

CycleTrader, with over 114,000 inventory listings from dealerships and private sellers, is returning for a second year as a sponsor of the 2022 Powersports Business Accelerate Conference. The conference will be held Nov. 14-16 at the Caribe Royale Resort in Orlando.

READ MORE HERE – https://powersportsbusiness.com/top-stories/2022/03/16/cycletrader-returns-as-sponsor-of-2022-psb-accelerate-conference/


8 – WOMEN RIDERS PREPARE FOR 16TH EDITION INTERNATIONAL FEMALE RIDE DAYFrom Motorcycle & Powersports News

On Saturday, May 7, women riders will take to their motorcycles and powersports vehicles to “Just Ride!” for the 16th International Female Ride Day (IFRD). Participants in over 120 countries on six continents will join in on the globally synchronized women’s ride day, which highlights female motorcycle riders and powersporters across all disciplines of the activity.

READ THE ENTIRE ARTICLE HERE – https://www.motorcyclepowersportsnews.com/women-riders-prepare-16th-edition-international-female-ride-day/


9 – Yamaha Motor Donates $700,000 in Humanitarian Aid to UkraineFrom Asphalt & Rubber

READ THE ENTIRE POST HERE – https://www.asphaltandrubber.com/news/yamaha-motor-humanitarian-aid-ukraine/


10 – Ducati Reports Revenues, Operating Profit and Sales Results for 2021 From Motorsports Newswire

Ducati closes 2021 by reporting the best revenues and operating profit ever recorded that adds on the great sales performance.

The Bologna-based manufacturer delivered the record figure of 59,447 motorcycles to passionate customers all over the world, achieving an increase in sales of +24% over 2020 (48,042) and +12% over 2019 (53,183).

A record is registered also in terms of revenues, that are equal to € 878 million with growth of +30% over 2020 (€ 676 million) and +23% over 2019 (€ 716 million), and in terms of operating profit, which reached € 61 million thus growing of +154% over 2020 (€ 24 million) and +18% over 2019 (€ 52 million). The operating margin of 7% (2020: 4%; 2019: 7%) is consistent with pre-pandemic levels.

READ MORE HERE – https://motorsportsnewswire.com/2022/03/17/ducati-reports-revenues-operating-profit-and-sales-results-for-2021/


11 – The Pediatric Brain Tumor Foundation’s Ride for Kids Announces Second Annual National Ride for Kids Day in Collaboration with American Honda, the Comoto Family of Brands and GEICO Motorcycle From Motorsports Newswire

The Pediatric Brain Tumor Foundation’s second annual national Ride for Kids Day is scheduled for September 18, 2022. Taking place in the heart of Childhood Cancer Awareness Month, national Ride for Kids Day gives motorcyclists and powersports enthusiasts across the nation an opportunity to take a stand against pediatric brain tumors – the deadliest childhood cancer. Whether participating in one of the dozens of organized rides, riding as a group, or as an individual, everyone can take part in the day.

READ MORE HERE – https://motorsportsnewswire.com/2022/03/17/the-pediatric-brain-tumor-foundations-ride-for-kids-announces-second-annual-national-ride-for-kids-day-in-collaboration-with-american-honda-the-comoto-family-of-brands-and-geico-motorcycle/


This Week in Powersports Business – The week of 3/6/22

This Week in Powersports Business – The week of 3/6/22

For the week of March 6, 2022.

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


1 – Valuable Insider Insights Available to All – AIMEXPO Education

Videos of the 10 DISRUPTIVE THINKING education sessions at AIMExpo 2022 – featuring nearly 20 presenters and loaded with valuable insider insights – are now available online to revisit or see and hear for the first time.

“AIMExpo’s DISRUPTIVE THINKING education sessions were led by industry leaders and covered everything from the most challenging issues facing leaders today to the electrification of powersports in the future,” said Andre Albert, MIC director of sales and marketing. “It’s all about thinking differently today for a better outcome tomorrow.”

Some of the presentations at the January AIMExpo in Las Vegas were part of the MIC Symposium, the first to be held in-person since 2019.

The List of Education Sessions You Can Watch


2 – FUELL and Tucker Powersports Announce Ambitious Partnership in the US.

FUELL Inc. and Tucker Powersports are thrilled to announce an exciting new partnership that kicks off in March of 2022.

This powerful new collaboration will feature Tucker as the exclusive distributor of FUELL’s premium products to the powersports industry for the USA.

As part of this multi-year, renewable partnership, Tucker will distribute the complete line of FUELL’s premium Flluid e-Bikes as well as FUELL’s branded accessories and replacement parts.

Tucker Powersports is a world-class distributor with more than 50 years of experience serving thousands of dealers in the United States and Canada. With a support team of nearly 100 regional sales staff, 7000 active dealers and strong marketing capabilities, Tucker is the ideal partner for FUELL to bring the brand to a wider audience and develop the brand, while adding a US premium brand to its portfolio of e-vehicles.

220307 FUELL and Tucker Powersports Announce Ambitious Partnership in the US.(2)

This is an exciting time for electric bikes as the worldwide electric bike industry has experienced tremendous growth and is expected to grow by over 50% to reach nearly $70 billion by 2027.

220307 FUELL and Tucker Powersports Announce Ambitious Partnership in the US.(3)

“This new partnership is a real success for both brands. Providing desirable products through an exceptional dealer network that provides outlets and service near every rider has been Tucker’s forte for a long time. FUELL’s strengths are in innovative product design and manufacture. In the exploding marketplace for electric mobility, this makes a dream pairing for enthusiasts who want cutting edge designs but need solid local support. Tucker’s leadership team has the breadth of knowledge and experience to go full bore into this emerging marketplace, and the leadership at FUELL is very excited for the future together” ~ Erik Buell – CTO at FUELL Inc.

220307 FUELL and Tucker Powersports Announce Ambitious Partnership in the US.(4)

“Our dealers have been tremendously receptive to having ePower products in their dealerships. They will absolutely love the addition of FUELL e-bicycles to our offering. The outstanding performance and stunning design of FUELL Flluid, along with the personal touch offered by Tucker dealers is a great combination to offer consumers looking for an electric bicycle”  ~ Jamie Kempinski – Director of Business Development at Tucker Powersports

Everyone at FUELL and Tucker Powersports are excited about this new partnership and looking forward to many years of success for both brands.


3 – Keanu Reeves adds two bikes to ARCH Motorcycles lineup – from Canada Motor Guide

Keanu Reeves has been busy rebooting the Matrix movie series, but his ARCH Motorcycles lineup is also getting sort of a refresh, with two new models added to the lineup.

(Remember, ARCH Motorcycles is actor Keanu Reeves’ personal motorcycle manufacturing company, selling high-spec bikes to the rich and the famous. The machines are sort of an amalgam of muscle bike engine and naked bike chassis, with styling drawing influence from the world of custom V-twins. The KRGT-1, the foundation of his line, is custom-made to the buyer’s specs, so no two are alike … unless, of course, that’s what you specify. Reeves is the money behind the company, and no doubt provides inspiration and feedback, as he’s a very keen rider, but builder and designer Gard Hollinger is responsible for a lot of the hands-on stuff).

For the past few years, ARCH’s lineup was based around the KRGT-1 naked bike (MSRP: $85K USD), but now it’s added the Method 143 and the 1S models, for a total of three machines in the lineup.

The new ARCH Method 143, only coming in very limited numbers. Photo: ARCH

Here’s what ARCH’s website says about the Method 143:

The ARCH Method 143 is the ultimate production motorcycle. Created to realize an ambition of what could be achieved in motorcycle design, and to offer the opportunity for ownership of a motorcycle normally unavailable to the public, a concept… A concept led by the design idea of layers and materials including carbon fiber, aluminum and fine leather. 

Looking at it, you can see this limited-production machine (23 bikes planned) is going to be so expensive that only Keanu Reeves’ Hollywood friends and others in their income bracket will be able to afford it. Too bad, because it sounds fun; the air-cooled 2,343cc V-twin is supposed to make over 165 hp, and more than 150 lb-ft of torque. The bike is expected to weigh 241 kg. Again, it sure looks fun, even if it’s more than a CMG staffer is going to spend on a machine.

The sporty 1S. Flat tracker meets custom meets muscle bike? Sign us up. Photo: ARCH

The 1S seems to be intended for higher production numbers, and comes with sporty flat track styling, updated for the 21st century. It’s still Americana, but made to be flogged at a higher speed, by the look of it. It’s very similar to the KRGT-1, with the same motor (a claimed 115 lb-ft of torque, no posted hp numbers), but also a beefier chassis, mid-mount controls, lighter carbon-fibre bodywork and other pieces. Reportedly it’s about 20 kg lighter than the KRGT-1, so roughly 225 kg. Again, tweaking the bike’s configuration will raise or lower this price.

Want more info? Check out the ARCH website. Careful not to drool on your keyboard!


4 – Polaris and Zero Motorcycles Named to Fast Company’s Annual List of the World’s 50 Most Innovative Companies 2022From Motor Sports Newswire

  • Polaris and Zero Motorcycles lauded for their joint venture to deliver category-defining electric powertrains to powersports through their 10-year exclusive partnership in off-road vehicles and snowmobiles
  • The first vehicle born out of the partnership – the all-electric RANGER XP Kinetic – was launched in December 2021 and sold out in a matter of hours

MINNEAPOLIS, MN & SANTA CRUZ, CA – March 8, 2022 – (Motor Sports NewsWire) – Today, Fast Company announced its annual list recognizing the World’s Most Innovative Companies for 2022, and honored the partnership between Polaris (NYSE: PII), the global leader in powersports, and Zero Motorcycles, the global leader in electric motorcycles and powertrains, as one of the most innovative joint ventures. The annual list of Fast Company’s Most Innovative Companies has been the definitive source for recognizing the organizations that are transforming industries and shaping society since 2008.


5 – GREENGER AND HONDA POWERSPORTS RELEASE FIRST OFFICIALLY LICENSED CRF-E2 YOUTH-FOCUSED ELECTRIC DIRT BIKE – From American Honda

  • New model features a competitive balance of performance and value
  • Available exclusively through American Honda Powersports Dealers

ONTARIO, Calif. (March 8, 2022) – Electric dirt bikes became a realistic option for kids and their families today with Greenger Powersports’ unveiling of the Greenger x Honda CRF-E2, resulting from a new collaboration with American Honda.

Representing a practical-but-exciting doorway to the world of powersports, the CRF-E2 brings the motorcycling experience to a new pool of customers, whose lives are already increasingly powered by electricity. On the one hand, the bike is a fun training tool for young new riders, as it eliminates the need to operate a clutch or shift lever. For kids who already have two-wheel experience, the CRF-E2 is a reasonably priced step up to real dirt bikes. For either group, it’s a quiet, environmentally responsible form of powered recreation that can be enjoyed in more places than traditional mini dirt bikes.

Driven by a low-voltage (48-volt) BLDC electric motor with an inner rotor, the CRF-E2 produces a maximum output of 3.4 horsepower and 18.4 foot-pounds of torque. Its lithium-ion battery has a best-in-class range of approximately two hours in ideal conditions with a full charge. The battery can be fully charged in four hours, or two-and-a-half hours with the optional quick-charge system. With an available spare battery, it can be swapped out in seconds – a Greenger exclusive feature in this class.

The CRF-E2 boasts high-quality components like a twin-spar aluminum frame, tapered aluminum handlebar, front and rear hydraulic disc brakes with petal-style rotors, adjustable aluminum brake levers and 12-inch aluminum wheels with Kenda® Millville K771 knobby tires. Suspension components comprise a 33 mm telescopic hydraulic fork and a DNM shock with adjustable preload and rebound damping; front- and rear-wheel travel are 3.9 and 8.3 inches, respectively. Thanks to red plastic bodywork and blue-and-white graphics mimicking those of Honda Performance dirt bikes like the CRF450R and CRF250R, kids can make believe they’re a Team Honda HRC Champion.

With adjustable hand levers and the ability to alter seat height between 24.8 and 25.5 inches, the CRF-E2 physically accommodates a range of riders weighing 99 pounds or less. In addition, maximum power output can be switched between two levels in order to adapt for varying skill and experience levels.

“The CRF-E2 will expand the enjoyment of riding off-road on two wheels to more families,” said Brad Chapman, Greenger Powersports Manager of Sales & Marketing. “The appeal to traditional enthusiasts is obvious, as it’s just a cool little dirt bike. At the same time, it breaks down barriers with people who wouldn’t otherwise consider powersports, but who are already comfortable with electricity’s increasingly ubiquitous role in our society. We can’t wait to see more kids getting the chance to discover what dirt bikes are all about.”

Through this new collaboration, the CRF-E2 is available exclusively through American Honda’s nationwide network of participating Powersports dealerships.

“We’re pleased to partner with Greenger Powersports to offer an innovative, approachable electric dirt bike to our customers and dealers,” said Bill Savino, American Honda Senior Manager of Customer Engagement. “One of Honda’s mission statements is ‘ensuring the joys for the next generation,’ and the CRF-E2 clearly aligns with that objective. We look forward to working together with Greenger to grow motorcycling well into the future.”

MSRP for the CRF-E2 is $2,950.


6 – Dealership’s Parts and Accessories, Motorclothes team named No. 1 in U.S. From Powersports Business

There’s no better way to build up team morale than by shouting their epic sales performances from the social media rooftop. And if your dealership’s Parts and Accessories and Motorclothes teams are named No. 1 in the nation, you shout it loud and proud, like Harley-Davidson of Scottsdale did on its Instagram.

READ MORE AT – https://powersportsbusiness.com/top-stories/2022/03/09/dealerships-parts-and-accessories-motorclothes-team-named-no-1-in-u-s/


7 – PATRICK INDUSTRIES, INC. COMPLETES ACQUISITION OF ROCKFORD CORPORATION AND THE ROCKFORD FOSGATE BRAND

ELKHART, Ind., March 7, 2022 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Company”) announced today that it has completed its previously announced acquisition by merger of Arizona-based Rockford Corporation (“Rockford”) and the Rockford Fosgate® brand. Rockford is a global leader in the design and distribution of premier, high-performance audio systems and components, primarily serving the powersports, marine, and automotive markets and aftermarkets.

(PRNewsfoto/Patrick Industries, Inc.)

“We are extremely excited about the attractive market dynamics and expansion opportunities this acquisition creates as we strategically grow our presence in powersports and leisure lifestyle  enthusiast aftermarkets. We look forward to collaborating with the talented Rockford management team to grow their business and further enhance shareholder value,” said Andy Nemeth, Chief Executive Officer of Patrick.

Bill Jackson, President and Chief Executive Officer of Rockford, said, “The Rockford team and I are pleased to be a part of the Patrick family and continuing our legacy of innovation, high quality, and performance alongside Patrick and the markets that we both serve.”

Conference Call Webcast

Patrick Industries will host a conference call on Tuesday, March 8, 2022 at 8:00 a.m. Eastern Time to discuss the acquisition. Participants on the call will be Andy Nemeth – Chief Executive Officer, Kip Ellis – Chief Operating Officer, Jake Petkovich – Chief Financial Officer, and Jeff Rodino – President. In addition, an investor presentation that will be presented during the call can be accessed on the Company’s website, www.patrickind.com under “For Investors.”

Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. The dial-in number for the live conference call is (877) 407-9036. Interested parties are invited to listen to a live webcast of the call on Patrick’s website at www.patrickind.com under “For Investors.”  A replay of the conference call will also be available via the Company’s investor relations website.

About Patrick Industries, Inc.

Patrick Industries (NASDAQ: PATK) is a leading component solutions provider for the RV, marine, manufactured housing and various industrial markets – including single and multi-family housing, hospitality, institutional and commercial markets. Founded in 1959, Patrick is based in Elkhart, Indiana, with over 11,000 employees across the United States.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company’s Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/patrick-industries-inc-completes-acquisition-of-rockford-corporation-and-the-rockford-fosgate-brand-301497147.html

SOURCE Patrick Industries, Inc.

Released March 7, 2022


8 – Harley-Davidson dealership announces closure after 43 yearsFrom Powersports Business

Rocky Mountain Harley-Davidson in Littleton, Colorado, announced via a Facebook post that its doors have closed for good as of Feb. 28.

READ MORE HERE – https://powersportsbusiness.com/top-stories/2022/03/10/harley-davidson-dealership-announces-closure-after-43-years/


9 – January Same Store Sales data revealed by LightspeedFrom Powersports Business

READ THE ARTICLE HERE – https://powersportsbusiness.com/top-stories/2022/03/10/january-same-store-sales-data-revealed-by-lightspeed/


10 – Risk Racing Becomes The Title Sponsor For The North Carolina Motocross Association and Race Series!

Risk Racing is proud to announce their partnership with The North Carolina Motocross Association (NCMX).

The North Carolina Motocross Association (NCMX) is a new organization, formed by several track owners in NC. Their goal is to add more value to grassroots MX Racing! Safe tracks, consistent pricing, lots of track time and promoters working together!  They will be crowning a true AMA NC Motocross Champion in every class starting in 2022!

Risk Racing was excited when they heard about the newly formed NC race series.  “As a North Carolina based motocross company, we are thrilled to support a new moto series based right here in NC!” says Risk Racing owner, James Burry.  “North Carolina riders are very lucky to be surrounded by great tracks, and NCMX aims to bring them together to form what will be a fun race series that racers can get involved in.”

“When we formed NCMX, we knew it was important to find the right fit for the series title sponsor” says Motocross Committee Chairman, Mike Farr.  “We needed a North Carolina based company whose commitment to the sport matches ours, and we are excited to say that we found that with Risk Racing.”

For more information about NCMX visit: https://goncmx.com/.  There you will find the 2022 schedule, race classes, points info, and more.

For more information about Risk Racing visit: www.riskracing.com.  RISK is an innovative motocross company designing moto products, riding gear, and more!