Auction attendance and prices were up in the powersports market in March, according to the latest report from Black Book.
Personal watercraft and jet boat prices are up 2.7 percent month-over-month, said Ricky Beggs, editorial director for Black Book. Prices increases are led in warmer weather locations, and Beggs anticipates a quick price increase in colder weather locations once temperatures warm up for good.
Motorcycle prices have also increased, led by a 2.3 percent increase in prices for cruisers. Beggs noted that motorcycles less than 7 years old saw bigger increases than those more than 7 years old, with an average price increase around 1 percent.
ATV prices are up 1.1 percent, and side-by-sides are up 0.1 percent.
Though powersports prices increased, they remained lower than historical norm, which Beggs attributed to the brutal winter.
“While these increases are not huge, they do represent the thawing out of the powersports market that has been much more sluggish than usual over the past couple of months,” Beggs said.
Prices for snowmobiles dropped – no surprise, Beggs said, since the market for them is now out of season. Unit prices are down 4.8 percent on average, and many units remain unsold as reserves are not met. Beggs predicted prices will continue to fall until late autumn, when the season starts to pick up.