Update from Tucker Powersports Supplier Town Hall
Tucker Powersports has released details of proceedings at a recent online Town Hall Meeting held by President and CEO Marc McAllister (end of October 2022) at which some 50 Tucker suppliers were updated on several topics - including Tucker's strategy, the current market situation, the importance of powersports dealers and the company's preparation for AIMExpo.
In his opening remarks, McAllister reiterated company strategy stating that he sees "a blending of what we used to consider pure powersports, motorcycles and side-by-sides, combined with new lifestyle choices of getting outdoors and participating in powered adventures.
"With the growth of e-bikes and electric motorcycles, we don't think that consumers are as discerning as we are about how that experience happens and where that experience starts. We see a blended future with plenty of space for what we do, whether it's internal combustion powered, EV-powered or human-powered. We are looking to serve all of those customers."
Addressing current market conditions, he commented that "today's market is not what last year's market was. The market has been tightening and that is likely to continue into Q1."
He said the company's data indicates a bottoming out during that quarter and a recovery starting at the end of Q1 and into Q2. "Our plan is to weather the winter and look forward to spring."
a blending of what we used to consider pure powersports
McAllister accepted that Tucker is not doing as well as he had hoped, but said that it is on a solid footing and is working some inventory out of its system to free up cash and capital.
He cited some notable successes for Tucker, such as the announcement of an exclusive distribution agreement with high-tech helmet company Forcite, e-power brands that are selling through to dealers rapidly, as well as certain specific products from the suppliers that were on the call "that are moving rapidly."
McAllister confirmed to suppliers that he sees a multi-channel future and is not moving away from dealers, saying that "the dealer channel is critical to our industry, the dealer today continues to drive a significant amount of our sales and your sales.
not doing as well as hoped
"Our industry still needs a clubhouse, a gathering point, where people can feel engaged, a place where questions can be answered and to ensure they get the sales and service that they need.
"So, we continue to invest in dealers, and that brings me to AIMExpo. In our mind it's critical that AIMExpo exists. It's a time for our industry to get together, it's a time for our industry to celebrate who we are, and a platform for us to present a cohesive version of our industry to our dealers, who are, at the end of the day, our primary customers."
McAllister said that he expects the show to be "significantly larger than last year" and mentioned that Tucker's investment is much higher than at the 2022 show, including the company's plan to bring all of its sales reps to the show to support their dealers.
the market has been tightening