“We call it the staycation phenomenon,” BRP boss José Boisjoli told Yahoo Finance’s Julia La Roche.
“With the restriction on traveling, the restriction on vacation, I think a lot of people are wondering, what do we do with our holiday? What do we do with the disposable income?” Spend it on powersports products! He says inventory is down globally and new unit sales were up 40% in Q2!
“We saw a surge in the demand for our product. To be honest, on some of the product lines, like off-road vehicles — you are already distant to others — then the retail never really slowed down. But for a product like three-wheel vehicle or watercraft, we saw peak demand in June and July. It exploded!”
So where is BRP coming out of Q2? “Right, now we are out of inventory. And I think it's a question of refocusing the disposable income on recreational product, because people don't have — they have to stay home or stay in their country.” See the full story at Yahoo!Finance:
https://finance.yahoo.com/video/brp-ceo-coronavirus-staycation-phenomenon-190533303.html
