Following its decision to leave the car-selling business and finishing its bankruptcy metamorphosis, American Suzuki Motor Corporation is now a defunct company, with Suzuki Motor of America officially taking over as Suzuki Motor Corporations’s wholly owned sole-distributor of Suzuki motorcycles, ATVs, marine engines, and automotive parts in the continental United States.
Looking to close its Series A round of financing, San Francisco EV startup BRD Motorcycles has had to rethink its investor-appoach strategy, as the venture capital market in California has gone through a reset as a result of the past economic recession.
“It has been brutal this past year talking to investors,” explained BRD Motorcycles CEO Marc Finegstein. ”In fact, it was actually easier to raise capital during the recession than it is currently right now. For the last few years, you just had to be bullish…you know, polish your PowerPoint deck, shift your paradigm, and make sure you were best in breed. But now, with all the bad paper that has been going through the market, the traditional funding sources have all but dried up.”
Countless dinners and evenings wasted, Fenegstein often returned to the office the next day with nothing to show for his hard work from the night before. Facing increasing production and development costs, it was clear that something had to change in the company’s funding strategy.
So, when asked what sort of measures BRD was taking to close its funding objectives for the Series A round, the young CEO exhaled slowly, sat back in his chair, and only hinted at BRD’s new investor-pitch strategy. “Let’s just say our funding strategy is more ‘hands on’ than it was before with our investment circle,” he said while staring blankly out his office window.
There was much consternation ahead of the Jerez MotoGP test, when it emerged that the Factory Yamaha MotoGP team had imposed a new social media policy. Given that Yamaha has perhaps the strongest presence on social media of all MotoGP teams, fans feared that the access they had been given would be restricted.
Apart from riders Valentino Rossi and Jorge Lorenzo, Yamaha also has Alex Briggs, mechanic to Valentino Rossi, Ramon Forcada, crew chief to Jorge Lorenzo, and Wilco Zeelenberg, team manager to Jorge Lorenzo on their payroll, all three popular figures on Twitter.
At the official launch of Yamaha’s 2013 MotoGP campaign, we spoke to Yamaha Racing Managing Director Lin Jarvis to ask about the policy, and try to clear up any confusion surrounding the situation. Our first question was naturally, did Yamaha indeed have a new social media policy?
Sales figures are a closely guarded secret in the two-wheeled realm, especially when it comes to numbers for specific motorcycle models. It is a shame really, as these are the kind of numbers that we here at Asphalt & Rubber love to pour over for hours, looking for insights, trends, and meanings. So for us, the above graph is made of pure motorcycling gold.
Taken from the Ducati 1199 Panigale R international press launch, where Ducati Motor Holding’s General Manager Claudio Domenicali shared with the assembled journalists the first-year sales figures for each of the Italian company’s Superbike models, the above is a direct recreation of the presentation’s slide, which unsurprisingly Ducati didn’t include when it handed us a copy of the PowerPoint presentation.
In the age of computers and smartphones, not to mention a room full of moto-journalist, it is hard to imagine how Ducati didn’t foresee this information being disseminated to the public, but I digress. After the jump are some of my initial thoughts from looking at the data on each model. We’ll be playing more with this information in the coming days as well.
Last week we reported to you that Suzuki Motor of America was set to cut 10% to 20% of its powersports dealerships, as a part of its corporate restructuring and bankruptcy of the now defunct American Suzuki Motor Corporation. Clarifying that news, Suzuki has given a clearer figure, saying that 98 of the company’s 930 dealers will be getting the axe.
According to Suzuki, the roughly 10% of dealerships that did not see their contract assumed by Suzuki Motor of America accounted for only 2.5% of the company’s retail sales in the past 12 months (2.8% of retails sales in the past three years), making Suzuki’s actions more of a culling of the herd than anything else.
In its May issue, Consumer Reports dives into the topic of motorcycle reliability, and confirms what many of us already knew: bikes from BMW and Harley-Davidson were reported to be less reliable than those from the Japanese OEMs.
Interestingly enough however, BMW and Harley-Davidson owners were also far more likely to make a repeat-purchase with their chosen brand than were owners of Japanese motorcycles, sans those of Hondas, which scored just slightly lower than BMW and Harley-Davidson on customer retention.
Looking at customer complaints of “major” mechanical problems from the last four years, the report from over 4,000 motorcycle owners confirms the high-water mark set by the Japanese OEMs on motorcycle reliability, but also shows the power of good branding as it translates into brand loyalty and customer retention.
While Kawasaki, Suzuki, and Yamaha may be winning the minds of riders with their production prowess, they are losing the hearts of consumers, which is interesting since any salesman will tell you it is easier to keep a current customer, than to make a new one.
After witnessing the World Superbike Championship relegated to the obscurity of the beIN Sports channel for live race coverage (it was good coverage though), American motorcycle race fans can rest easy, as Dorna has finally inked an American TV deal for MotoGP.
Signing a three-year deal with FOX Sports, the 2013 MotoGP Championship will again air on the SPEED Channel, which will then become the FOX Sports 1 channel later in August (the Indianapolis GP will air during the new channel’s premiere week).
The news is a relief for the fans who thought MotoGP would go without television coverage in the United States this year, though that was never really a possibility.
To its credit, it looks like FOX Sports will give more extensive coverage to MotoGP, with the US qualifying rounds and pre-race coverage being broadcasted on TV. Free Practice and on-board footage will be available as well, although they will be sequestered to SPEED.com and SPEED2.
At the presentation of Yamaha’s 2013 MotoGP campaign, where the bike which Jorge Lorenzo and Valentino Rossi will ride in the coming season was unveiled, it was clear that there was one thing missing from the bike: this season, as for the last two years, Yamaha’s MotoGP team will not have a title sponsor, but will campaign in corporate colors once again.
Though the news hardly came as a surprise – the colors being used throughout the winter testing period suggested that Yamaha would be racing without a title sponsor – we were interested to find out whether the current situation is sustainable.
To that end, we cornered Yamaha Racing’s Managing Director Lin Jarvis, and put a few questions to him. Firstly, we asked, could Yamaha’s MotoGP team manage without a title sponsor, or was the expanded support from non-title sponsors sufficient? The answer to those questions was “yes and yes” Jarvis quipped.
When news came that American Suzuki Motor Corporation was to file for Chapter 11 bankruptcy, the news was pitched that it would benefit the company’s motorcycle interests, as Suzuki would no longer be tied-down with its ailing automotive division in the USA, and instead would be left to focus on its powersports offerings.
While that general statement may remain true, Powersports Business has learned that the Japanese OEM plans on closing 100 to 200 of its roughly 930 powersports dealerships. This would mean a roughly 10% to 20% reduction in Suzuki dealerships nationwide — a decision that has more than a few dealers feeling a bitter taste in their mouths.
Oh no, not another Circuit of the Americas article! It’s not our fault, really. You may remember the dust up between Kevin Schwantz and the Circuit of the Americas racing facility, which saw the Texan MotoGP star left out in the cold when issues regarding COTA’s contract with Dorna and 3FourTexasMGP came into question six months ago.
We hadn’t heard much about Schwantz and COTA since that time, and thought things had moved on from the “he said, she said” blame game that went on between the parties involved. That apparently is not the case, as Kevin Schwantz has released a statement regarding how he was escorted off the COTA premises during the private MotoGP test there last week.
Getting credentials through the Attack Racing CRT team to help coach its rider Blake Young, and an invited guest of the LCR Honda team, Schwantz says he found himself on the wrong-end of the COTA security team, which asked him to leave the facility or face criminal trespass charges.