Issue link: https://read.dmtmag.com/i/183375
16 • October 7, 2013 • Powersports Business FINANCE www.PowersportsBusiness.com NPA Dealer Financing gets enhancement Northpoint Commercial partnership to extend pre-owned floorplan options National Powersport Auctions (NPA) announced the re-launch of its successful NPA Dealer Financing program. The enhanced program, which provides powersports dealers with flexible inventory financing on pre-owned vehicles, includes significant revisions based on dealer feedback. With tiered fee structures and more attractive rates than other programs, NPA recog- nizes the industry has evolved, and so have the needs of powersports dealers. With the availability of NPA Dealer Financing, powersports dealers have a wholesale program designed specifically for them. NPA has partnered with Northpoint Commercial Finance — a commercial lender specializing in wholesale flooring for the powersports, marine and RV industries that is focused on serving the needs of dealers — as part of the enhanced program. "We believe there is a philosophical gap between the automotive finance companies' desire to lend to powersport dealers and the needs of today's powersport dealers. Having sold nearly a million powersport vehicles since our inception, dealers recognize NPA is the right company to partner with to acquire, consign and finance their powersport inventory," said John Roshala, NPA executive vice president of sales & marketing. "Our main goal for this expansion was giving dealers better options when it comes to wholesale financing. When we sat down with Northpoint and found they were in alignment with our vision for the program, we knew we had the right partner," stated Roshala. "We are very excited to be aligned with a market leader like National Powersport Auctions. With NPA's powersports expertise and our creative financing options, we have developed a powersport-focused program to help dealers drive sales and improve their opportunity to manage vehicles through NPA's extensive network," said Dan Radley, president of Northpoint. NPA Dealer Financing is unique with tiered fee structures, no minimum or maximum credit approval and flexibility for dealers to spend the money how they see fit, including off-the-street purchases. There is no early payment penalty and all titles qualify. NPA Dealer Financing has also streamlined the entire approval process. All paperwork and approvals will be done electronically, allowing dealers to remain in their dealership and focus on their business. PSB ww A S Ser in spe bet sp Pro Ser the for use the B Jul 2.1 sam by ing bu rev rat to Ca BRP's launch of the 2014 Sea-Doo Spark came just days after the company's fiscal Q2 earnings announcement. BRP Q2 revenue grows 6.5% In its second quarter fiscal 2014 results statement, BRP announced its revenues of $620.0 million increased 6.5 percent compared to the previous year, while overall the company posted a net loss of $7.9 million, which translates to a $0.07 loss per share. The Valcourt, Quebec-based OEM reported strong growth in year-round products and Parts, Accessory and Clothing (PAC) sales, and that its North American retail sales increased 16 percent in the quarter compared with last year, excluding sport boats. All financial information is in Canadian dollars unless otherwise noted. "Our second quarter results were right in line with our expectations, and we are on track to achieve our guidance for the year. I'm particularly pleased with the 16-percent growth in retail sales of our products in North America during the quarter," said president and CEO José Boisjoli. "I am pleased with the performance of our team and the strength of our brands. Our 14 percent growth in international markets (excluding sport boat) is a strong testament to our product momentum, and this despite the fact that our second quarter is traditionally our weakest quarter of the year." More than 2,000 participants from 99 countries were in attendance at the BRP semi-annual dealer meeting in Orlando just days after the earnings announcement. Highlights for the three- and six-month periods ended July 31: Revenues for the three-month period ended See BRP, Page 17 P14x17-PSB13-Finance.indd 16 9/25/13 11:13 AM Jul 4.0 sam 9.5 the in inc var SE Re $1 for par ing is a of an the the inc inc uc pro Am gen YE Re by lio up per to sid tio PA Re lio the $1 las inc af $2 4.7 the fro per