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Zero Motorcycles announced today that it is slashing prices on 2022 and 2023 models by amounts ranging from $1,000 for its most affordable FX model to as much as $4,500 for the DSR/X adventure bike.
The price cuts by Zero are just one example of the return of manufacturer incentives, which were non-existent during the shortages of new motorcycles caused by production shutdowns and supply-chain disruptions due to the pandemic. As I reported yesterday, the U.S. motorcycle industry enters the fourth quarter of the year with prices still slightly elevated from pre-pandemic levels but steadily deflating and with dealer inventories now back to normal.
Zero referred to the price cuts as "permanent reductions," not a temporary sale. In the car world, we also saw Tesla reduce prices recently. Below is a list of the new Zero prices.
| Model | Reduction | MSRP |
|---|---|---|
| 2023 FX ZF7.2 | $1,000 | $11,995 |
| 2023 FXE ZF7.2 | $1,000 | $11,995 |
| 2023 DSR/X ZF17.3 | $4,500 | $19,995 |
| 2023 SR/F ZF17.3 | $4,000 | $19,795 |
| 2023 SR/S ZF17.3 | $4,000 | $19,995 |
| 2023 SR ZF15.6 | $3,000 | $16,995 |
| 2023 DS ZF7.2 | $1,250 | $11,745 |
| 2023 S ZF7.2 | $1,250 | $11,745 |
| 2023 DSR ZF14.4 | $3,000 | $14,995 |
| 2022 FX ZF7.2 | $1,000 | $10,995 |
| 2022 FXE ZF7.2 | $1,000 | $11,195 |
| 2022 SR/F ZF15.6 | $4,000 | $18,195 |
| 2022 SR/S ZF15.6 | $4,000 | $18,695 |
| 2022 SR ZF14.4 | $3,000 | $15,595 |
| 2022 S ZF7.2 | $1,250 | $10,345 |
| 2022 DS ZF7.2 | $1,250 | $10,345 |
| 2022 DSR ZF14.4 | $3,000 | $13,195 |
The electric motorcycle segment looks particularly shaky. Earlier this year, Zero announced that it was moving some of its manufacturing to the Philippines and laying off 10% of its workforce in California. Other companies, such as Sondors and Lightning, attempted to raise money and continue to struggle to deliver motorcycles to customers, some of whom have been waiting for years.
We've also seen the return of manufacturer incentives recently as the market has normalized and softened. Until recently, manufacturers were not only not providing incentives, but also were adding extra fees that dealers had to pass on to consumers, such as freight surcharges. Now incentives are returning and in many cases they are aimed at counteracting high interest rates that make purchases less affordable for buyers taking out a loan to buy a motorcycle.
Just to give a few examples, Harley-Davidson is offering 1.99% financing on selected models, Suzuki is offering 2.99% financing on the Hayabusa and a $1,000 rebate on other models, Honda is offering 4.99% financing on some ATVs, and Yamaha is offering financing as low as 5.99% plus rebates of up to $2,500 on previous-year models.
