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Happy New Year Landmaster Dealers! I hope you enjoyed the holiday season with your friends and family. It is now time to get back to the UTV business! We are excited about 2024 and the opportunities for Landmaster dealers. We saw an economic slowdown in 2023. When compared to 2021 and 2022 Covid related demand, 2023 reflected more pre-covid retail demand. We should see falling interest rates in 2024, inflation appears to be in check, and a stronger durable goods demand. Durable goods demand was off up to 5% in 2023 versus 2022. This was reflected in lower pricing (rebates) from OEMs and dealers. Consumer debt is in check, only 8% of credit card debt is over 90 days past due. US market, Americans have $1 trillion credit card debt versus $17 trillion bank deposits last year. This is money on the “sidelines” waiting on better economic news to start spending again. Landmaster will remain aggressive on brand awareness and lead generation marketing in 2024.
We opened new markets in 2023 and continue to grow existing territories. The release of the AMP models in May was met with higher than anticipated demand. 47% of wholesale shipments in the second half of 2023 were AMP models. We offer a wide variety of electric UTV models. Make sure your dealership has at least one on hand. Most consumers want to test drive a unit before they buy it. AMP models have limited competition. Reminder, Landmaster did not increase pricing with MY 24 release. Prices remain at MY23 level.
Q1, 2024 retail/wholesale program has started. Be sure to sign up with your RSM or inside Customer Service representative. Benefits include full rebate credits, increased retail incentive per unit, 3% cash discount, seasonal parts discount, and discounted freight! The quarterly order program continues to build momentum with our dealer network. The goal of the quarterly program is for you to always have the right amount of inventory. The program gives you the flexibility to order special order units and receive the same benefits as your stocking orders. In the end we want to minimize your carrying costs and increase your inventory turns. If you have questions, contact your RSM.
We just launched the Rollick Aimbase Customer Lead System. This technology helps get the lead to you in a timely fashion. When a lead comes in, ACT quickly. Showing the customer that you are interested in their business and that you can communicate well is key. The next step for Aimbase is the integration of dealer inventory. Expect more information on that next month.
We are collecting warranty registrations for 2023 retail sales through the end of January. We will generate full year dealer scorecards in February. For those dealers participating in 2023 holdback monies, they will be credited to your account in February.
Quick Dealer Checklist:
Inventory - update units if TSB’s apply, clean the units thoroughly and present inside your showroom if possible, order AMP model(s) if your inventory doesn’t have one.
Website - Make sure you are using our latest brand logos, videos, studio images, etc. All material is on the dealer portal. Your home page should have Landmaster listed with a link to the Landmaster landing page and or inventory. Make sure your inventory is updated. Actual pictures of your inventory is preferred over studio images.
Advertising - Covid demand is over, so you need to “rev” up your marketing. Advertise with social media such as Facebook and Instagram, mail fliers, use radio/TV. Inside and Outside signs are available from Landmaster. There is a new Co-Op policy. Check it out on the Dealer Portal.
Why Landmaster? The customer gets an American made customized UTV that is priced fair, easy access to our customer service department, and a very competitive warranty. Our lead times are 4 to 5 weeks including customized UTV builds. Lastly, we know dealers have a choice on which brands to support and sell. Our units come with minimal set up. You only need to install the bed, bumper, and fenders. Less than 30 minutes of set up time. Other UTV brands have considerably more set up time.
Don’t miss our 2024 dealer service training dates in Columbia City. The February date is already filled, March still has openings. Sign up on the Dealer Portal.
I wish you a happy, healthy, and prosperous 2024. Thank you for being part of the Landmaster family!
Best,
Jeff Bannister,
President of Landmaster
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