What's it worth? National Powersport Auctions CEO Jim Woodruff offers his two cents on the state of the industry. Values dropped precipitously and drastically, but why? More importantly where is the soft landing and when is the bounce back? "We knew the day would come and prices wouldn't last. And I think that day has come. Using the auctions as a proxy for what's happening out there, pricing has definitely fallen off significantly over the last several months, starting about July... and it continues to slide."
Woodruff adds, "Dealer expectations aren't quite keeping up with that yet. So it has affected our conversion rate and other metrics that we measure. I think it does tie in to the macro-level market trends because people are uncertain about what's happening. Fortunately, new unit supply is improving. Sales have not been what they were last year, but they are not horrible... definitely slowing down at this point in time with both seasonality and some of the macro headwinds. But there's just a lot of doubt and uncertainty out there right now. I think dealers have quite a bit of inventory on hand and that they don't need more at this time..."