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Tuesday 3 October 2023

News Briefs

Iván Cervantes, five-times Enduro World Champion and Triumph Global Ambassador, has officially claimed the Guinness World Records title for 'The greatest distance on a motorcycle in 24 hours (individual)'. Riding a Tiger 1200 GT Explorer on the High-Speed Ring at the Nardò Technical Center in Italy, Iván travelled more than 2,493 miles in a 24-hour period. This beat the previous record of 2,116.39 miles set by American Carl Reese in 2017, by a huge margin of more than 372.82 miles. To do so Cervantes had to ride consistently at speeds of over 124 mph. Surpassing the existing record with five hours to spare, he went on to set a new benchmark of 2,485.49 miles by riding a further 376.551 miles.

Down Home H-D of Burlington, MC. has been acquired by Phil Mitchell and Dan Roland. The dealership will remain at its present location. Mitchell owns and operates three automotive dealerships in the state of Washington. Dan Rowland is his partner in the acquisition of what is Mitchell's first motorcycle dealership and will be at Down Home having previously served in that role at Pacific Junction H-D and Loess Hills H-D, both in Iowa. Former owner Fred Bosshardt acquired Down Home in 2012, is a multiple Platinum Bar and Shield Circle of Distinction Award recipient and also owns and operates Caliente H-D in San Antonio Texas.

Reports suggest that Royal Enfield has targeted 2025 for the launch of its first new electric motorcycle. Having acquired a 10% stake in internationally respected Barcelona based Stark Future (of Stark Varg eMX vehicle), it is thought that Royal Enfield will be leveraging Stark's expertise to launch a global EV - based on RE's Harris Performance developed chassis capabilities.

PSB reports that H-D of Williamsport has closed permanently. The store, which has been a secondary outlet owned by H-D of Frederick (also in Maryland) owner Mike Vantucci, was opened in 2003. H-D Frederick can trace its history back to 1918. J. Paul Delphey acquired the first Harley-Davidson franchise there within Delphey's Sporting Goods.

Reuters reports the findings of a survey that found financial losses due to supply chain disruptions dropped by over 50% on average in 2022, compared with a year earlier - but shortages and delivery delays remain challenges.

Irvine, Texas based RumbleOn (Powersports) sold 20,277 total units in Q2, comprised of 13,126 new units and 7,151 used units, generating $382.7m total company revenue (+14.5%) for a gross profit of $106.4m at a 27.8% gross margin. The company continued to maneuver its balance sheet into an improved position by reaching agreement with its primary creditor for revised leverage covenants, signing a letter of intent for sale leaseback of its real estate portfolio and signing a letter of intent to sell its finance company credit portfolio.

The MIC Government Relations Office (GRO) is opposing three Massachusetts bills that it says would amount to a statewide sales ban on vehicles with internal combustion engines by the end of this decade. Two of the bills would prohibit dealers from selling anything but plug-in vehicles by January 1, 2027. The bills would ban anything except zero-emission vehicles by January 1, 2030. The third would prohibit the state's registrar of motor vehicles from accepting original registration applications for any motor vehicle unless it's zero-emission beginning January 1, 2038. Letters sent to protest the proposals said that "While the 2027 and 2030 deadline outlined in your legislation is ambitious, it is infeasible for motorcycle manufacturers to meet. The result would possibly mean putting manufacturers - as well as dealerships and their sales and service employees - out of business. In addition, the bill would ban other technologies such as hydrogen fuel motorcycles that only emit water exhaust."

Co-owned by Walker Evans and Randy Anderson, Polaris is to acquire Walker Evans Enterprises, the $18m turnover Riverside, California based manufacturer of some of the premium performance shock absorbers used on its off-road vehicles and snowmobiles. Polaris Off-Road President Steve Menneto (the former lead exec at Indian Motorcycles) said: "The decision to purchase the business was an easy choice as it complements our strategy and strengthens supply chain continuity of one of our key off-road and snow shock components." The business will be fully integrated into Polaris' Off-Road division. Randy Anderson will join Polaris.

Simon Zhu's Ontario, California Greenger Powersports, known for its Honda collaboration electric CRF moto-crosser, is to partner with AMA Supermoto National Championship Series promoter DRT Racing. Alex Mock, DRT President: "This partnership will help propel young riders to a new level and mold them into future Supermoto professionals while also highlighting the dynamic Greenger Powersports Honda CRF-E2 and the track-ready Greenger G3S models. Fusing asphalt and dirt, the AMA Supermoto National Championship Series has been an arena for both pro and amateur Supermoto riders since the early-2000s, offering the opportunity to earn the prestigious AMA National No. 1 plate in Supermoto racing. The new Greenger x Honda CRF-E2, and the G3S, the equivalent of a track-ready 110 cc motorcycle, are available for purchase at any Greenger dealer;,

According to data compiled by Bloomberg, a $500bn storm of corporate-debt distress is starting to make landfall across the globe. Big bankruptcies are piling up at the second-fastest pace since 2008, eclipsed only by the early days of the pandemic. That's deepening worries on Wall Street by threatening to slow economic growth and strain credit markets that are only just emerging from the deepest losses in decades.

In recent months, the handful of major U.S. banks that dominate the top-end of the American banking industry have spent over $1bn on severance costs in a financial sector that, struggling to maintain returns, has resorted to 'right sizing' measures in response to the pressure its balance sheets are under.

Sources: AMD, IDN, FT, Reuters, PSB, MPN, BDN, MCN, AP, Bloomberg, MSNW, Electrek,,,, Cycle World,