Chinese giant CFMoto has staged a grand opening of its new 100,000 sq ft facility at Plymouth, Minnesota. It will house up to 120 employees and contractors and comes just four months after the opening of its massive new North American ATV/UTV manufacturing facility at Monterrey, Mexico. CFMoto is #1 ATV/UTV market share in 26 countries worldwide and, presently, the U.S. market accounts for some 40% of its $1.6bn annual sales in the sector.
BRP has reported revenues of CAN $2,467.8m for the third quarter of its 2024 fiscal year (to October 31, 2023), a decrease of -CAN $241.5m (-8.9%) compared to the year-ago period. EBITDA of $444.9m was down -8.8%; 'normalized' diluted EPS of CAN $3.06 was a decrease of -$0.58 per share or -15.9%. North American quarterly retail sales were up for SSV, ATV and Snowmobile, offset by lower retail of PWC, 3WV and Sea-Doo Pontoon, resulting in overall flat retail when compared to the same period last year. "BRP delivered sound third-quarter results in the context of the current macroeconomic environment, with improved gross margin and market share gains despite reduced volumes. The decrease can also be explained by a softening in industry demand in the international market compared to the same period in 2022," said José Boisjoli, President and CEO of BRP.
Electric vehicle brand SUPER73 will be title sponsor of the industry e-bike races at AIMExpo, Las Vegas, February 2024. The SUPER73 Industry E-Bike Throwdown will pit dealers, exhibitors, media and industry leaders in a series of races to see who will ultimately be crowned champion of the industry. SUPER73 will be bringing a range of its bikes from its "fully capable" urban commuters to its all-terrain Adventure Series. Many models are Bluetooth compatible and feature front or full suspension, fenders, a light and horn. The SUPER73 Industry E-Bike Throwdown will be held during the AIMExpo Industry Party powered by Turn 14 Distribution on Tuesday, February 6, at the AIMExpo indoor e-bike track. In other news, as at early December 2023, AIMExpo had secured expanded exhibit space, so it could accommodate additional exhibitors on the previously sold-out showfloor.
Ex-Apple and Tesla exec George Blankenship has joined top-end Swedish electric motorcycle manufacturer Verge as Chief Revenue Officer, responsible for "developing Verge Motorcycles' customer interface and customer journey, as well as its global store strategy."
The AMA has announced January 21 and February 10 for its 2024 Ice Race Grand Championship GP and Oval Events at Lake Winnebago, Fond Du Lac, Wisconsin, after the 2023 cancellation. These are the only amateur ice racing opportunities in which a racer can earn an AMA National No. 1 Plate. Racers will also compete for the AMA Ice Racer of the Year, AMA Vet/Senior Ice Racer of the Year and AMA Youth Racer of the Year. The GP event will run alongside the Steel Shoe Fund Three Hour Endurance Race, an annual endurance ice event that serves as the main fundraiser for the Steel Shoe Fund - a non-profit organization that assists flat track racers who have sustained serious injury during competition. In the event of a cancellation, the GP event will have a reserve date of January 28. The AMA celebrates its 100th anniversary in 2024.
Yamaha Motor is to exhibit a prototype hydrogen powered outboard engine at the 2024 Miami International Boat Show in February.
BRP has bought a controlling 80% stake in Pinion GmbH - a manual and electric bicycle gearbox tech specialist founded in 2008 at Denkendorf, Germany. "Beyond our existing powersports and marine products, we are expanding our addressable market and entering untapped categories such as urban mobility and services," said José Boisjoli, President and CEO of BRP. Earlier in 2023, BRP also acquired e-drive systems and transmissions Great Wall Motor Austria GmbH from its Chinese parent company.
Sources: AMD, IDN, FT, Reuters, PSB, MPN, BDN, MCN, AP, Bloomberg, MSNW, Electrek, electricmotorcycles.news, RideApart.com, Motor1.com, Cycle World, motorbikewriter.com