Longer, sunnier days mean powersports lovers may be eager to hit the roads and trails on new rides. Whether you’re directly selling or indirectly financing powersports vehicles, here are some of the most impactful financing and powersports trends and statistics to know!
- In 2024, the global powersports market size was valued at $32.82 billion, and is anticipated to hit $34.51 billion in 2025. North America is the largest segment of powersports buyers.
- ATVs are one of the fastest-growing vehicle types in popularity, as they can be used across a variety of terrains and industries.
- Sixty-five percent of participants in a Powersports Business survey stated they expect to continue their use of powersports for leisure. Nineteen percent anticipate using powersports more frequently in the future.
- Monthly sales in 2024 decreased slightly compared to year-over-year sales in 2023, but are still high compared to sales before the uptick caused by COVID remote working and isolation.
- The U.S. population invests consistently in powersports vehicles.
- Loan approval rates for recreational products rose to 62.09% in 2024, up 0.91% from 2023, according to AppOne loan application data.
- Interest rates for powersports vehicles range from 6.70% to 36.00%, depending on credit score, amount financed, and lender.
- The average U.S. consumer FICO score was 718 in mid-2023 and 717 in late 2023, marking the first average score decrease since 2013.
Ultimately, consumers’ interest in powersports is consistent both for leisure and utility. However, financing may be a concern for the average American due to high interest rates, inflation, and existing household debts.
To protect your business from delinquencies, make sure you have an accurate picture of your buyer’s creditworthiness. Be transparent with buyers about their options and reduce the risks of late-stage loan rejections by using a lending platform tool to compare buyer information to lenders’ minimum financing requirements early in the F&I conversation.