Viper Motorcycle Company to Provide GE Capital Floorplan to Dealers. Inventory financing, also known as floorplan financing, allows dealers to stock, market and sell motorcycles and related products. It’s an important element of a successful manufacturer-dealer business model. Viper Motorcycle Company, a wholly-owned subsidiary of Viper Powersports, Inc. (OTCQB: VPWI), has entered into an agreement with GE Capital’s Commercial Distribution Finance (CDF) business to provide financing to approved dealers that want to purchase Viper inventory. Under this agreement, the Company has a contingently liability to repurchase the inventory from the funder should the dealer experience a business failure. The floor plan funder does independent credit evaluations of all approved dealers.
Ducati North America Reported A 24% Retail Sales Increase During 3rd Quarter compared to the same three-month period a year ago, earning the company its ninth-straight quarter of retail sales growth. Ducati dealers collectively posted a 40 percent sales increase in September, the OEM reported. Growth is attributed to strong customer demand for several of its products including the 1199 Panigale and the Diave which became the company’s highest growing product in September, sporting a 66 percent increase compared to September 2011.
Suzuki To Stop U.S. Auto sales, Exit Market. To emerge as a company focused on selling ATVs, motorcycles and outboard marine engines. Japan-based Suzuki is closing its American auto distributor and exiting the U.S. car market. The company’s U.S. arm, American Suzuki Motor Corp., will file for Chapter 11 bankruptcy protection in California. The company said it would wind down auto sales, but did not provide a timetable. American Suzuki said it plans to emerge from bankruptcy. The company said it remains “firmly committed” to those product lines.