Issue link: https://read.dmtmag.com/i/626951
www.PowersportsBusiness.com FINANCIAL Powersports Business • January 25, 2016 • 9 It's a waste of time and resources, and it doesn't work. This is leaving your paycheck up to chance, and that's not a smart strategy. Top performing F&I departments don't have just a few lenders. By having many, they can send each customer to the right one and reduce the chargebacks to an acceptable level. The second greatest reason for chargebacks has been "I didn't know I bought this." This is happening when a business manager doesn't have a good way to present protection prod- uct. Focus on finding the dominant problem or problems the customer is most likely going to solve by purchasing your products.Recently I bought my first pre-lit, artificial Christmas tree. When the cashier offered me a two-year warranty on my new tree, I asked how much, thought for two seconds and said, "I'll take it." I'm convinced my lights are going to fail within two years. If I buy a new UTV, will I jump it? Yes. Will my axle fail? Maybe so. I'll need a protection product for it, but the business manager who offers it will have to do exactly that — offer it to me. If he or she doesn't hide it in my paperwork, then it won't be cancelled. F&I managers are in the business of con- necting the customers with the best lenders, with the best rates and terms, with protection products that all generate income for the deal- ership. If this is kept in mind, chargebacks will decrease until they're no longer relevant. PSB Tommy Ady is an F&I sales expert with more than 25 years in the powersports retail business. He is a trainer and consultant for Gart Sutton & Associ- ates. Contact him at tommy@tommyady.com. POWERSPORTS BUSINESS STOCKS Stock Price Price Percent 52-Week Company Ticker 12/31/15 12/4/15 Change High Low Arctic Cat, Inc. ACAT $16.38 $20.50 -20.1% $39.72 $15.44 ARI Network Services, Inc. ARIS $4.50 $4.09 10.0% $4.82 $2.74 Assurant, Inc. AIZ $80.54 $86.56 -7.0% $87.20 $59.73 Brunswick Corp. BC $50.51 $51.84 -2.6% $56.63 $46.08 CDK Global CDK $47.47 $48.09 -1.3% $57.89 $38.83 General Electric Co. GE $31.15 $30.49 2.2% $31.49 $19.37 Harley-Davidson, Inc. HOG $45.39 $47.66 -4.8% $66.53 $44.20 Honda Motor Corp. ADR HMC $31.93 $32.69 -2.3% $36.44 $28.61 Polaris Industries, Inc. PII $85.95 $99.11 -13.3% $158.24 $81.42 TCF Financial Corporation TCB $14.12 $15.35 -8.0% $17.29 $13.69 Stock Price Price Percent 52-Week Company Ticker 12/31/15 12/4/15 Change High Low ArvinMeritor ARM $8.35 $9.44 -11.5% $15.65 $7.51 Bridgestone Corp. ADR BRDCY $17.35 $17.69 -1.9% $21.61 $15.85 Carlisle Companies CSL $88.69 $89.80 -1.2% $104.99 $80.73 Cooper Tire & Rubber CTB $37.85 $41.90 -9.7% $43.94 $31.18 Dover Corporation DOV $61.31 $64.75 -5.3% $78.21 $55.50 Intl. Speedway Corp. Cl. A ISCA $33.72 $35.28 -4.4% $38.27 $28.54 Deere & Company DE $76.27 $79.59 -4.2% $98.23 $71.85 MarineMax, Inc. HZO $18.42 $18.52 -0.5% $28.69 $13.86 Spy Inc. XSPY $0.03 $0.18 -82.3% $1.01 $0.03 Speedway Motorsports, Inc. TRK $20.72 $20.44 1.4% $25.66 $17.39 Universal Technical Institute UTI $4.66 $3.74 24.6% $10.45 $3.28 POWERSPORTS BUSINESS INDEX COMPONENTS INTERNATIONAL STOCKS OF INTEREST Source: Wells Fargo Securities LLC Stock Price Price Percent 52-Week Company Ticker 12/31/15 12/4/15 Change High Low BMW AG BMW-ETR 97.63 € 98.17 € -0.6% 123.75 € 72.05 € BRP, Inc. DOO-TSE $19.88 $21.18 -6.1% $29.80 $19.35 Kawasaki Heavy Industries 7012-TKS 452 ¥ 477 ¥ -5.2% 647 ¥ 398 ¥ KTM Powersports AG KTM-WBO 122.00 € 125.95 € -3.1% 140.00 € 99.69 € Michelin ML-PAR 87.90 € 90.90 € -3.3% 103.90 € 71.60 € NGK Sparkplug 5334-TKS 3215 ¥ 3460 ¥ -7.1% 3900 ¥ 2654 ¥ Suzuki Motor 7269-TKS 3703 ¥ 3770 ¥ -1.8% 4781 ¥ 3412 ¥ Yamaha Motor 7272-TKS 2744 ¥ 2930 ¥ -6.3% 3245 ¥ 2108 ¥ Yokohama Rubber 5101-TKS 1871 ¥ 2114 ¥ -11.5% 2904 ¥ 1777 ¥ DOMESTIC STOCKS OF INTEREST FOREIGN CURRENCY EXCHANGE 12/31/15 1 Month Ago 6 Months Ago Year Ago Annual Price Price %Change Price %Change Price %Change High Low Australian Dollar 1.37 1.38 0.4% 1.30 -5.3% 1.22 -11.1% 1.22 1.44 British Pound 0.68 0.66 -2.1% 0.64 -6.3% 0.64 -5.5% 0.63 0.68 Canadian Dollar 1.39 1.33 -4.1% 1.25 -10.1% 1.16 -16.6% 1.16 1.40 Euro 0.92 0.95 2.9% 0.90 -2.5% 0.83 -10.2% 0.83 0.95 Indian Rupee 66.16 66.65 0.8% 63.68 -3.7% 63.12 -4.6% 61.34 67.11 Indonesian Rupiah 13,785 13,835 0.4% 13,332 -3.3% 12,385 -10.2% 12,385 14,698 Japanese Yen 120.29 123.28 2.5% 122.36 1.7% 119.89 -0.3% 116.86 125.64 Malaysian Ringget 4.29 4.26 -0.7% 3.77 -12.1% 3.50 -18.6% 3.50 4.46 Phillipine Peso 47.05 47.14 0.2% 45.09 -4.2% 44.73 -4.9% 44.07 47.38 Singapore Dollar 1.42 1.41 -0.7% 1.35 -5.1% 1.33 -6.6% 1.32 1.43 South Korean Won 1,172.55 1,158.05 -1.2% 1,115.45 -4.9% 1,099.15 -6.3% 1,068.60 1,201.00 Taiwan Dollar 32.85 32.64 -0.6% 30.85 -6.1% 31.60 -3.8% 30.43 33.01 Thailand Bhat 35.99 35.84 -0.4% 33.78 -6.1% 32.90 -8.6% 32.31 36.58 Note: A positive percent change reflects a weakening of the U.S. dollar and a strengthening of the foreign currency. Source: Wells Fargo Securities LLC ADY CONTINUED FROM PAGE 8