RumbleOn Reports Fall in Pre-Owned Sales

By Staff Writer May 09, 2024

RumbleOn reported Q1 financial results showing new powersports revenue decreased 0.9%, with a 0.6% increase in unit sales, driven by increased supply of new inventory and lower average selling price.

New powersports gross profit declined 19.3% due primarily to competitive pressures.

Pre-owned powersports units, which include pre-owned retail and wholesale units, declined 10.4%. Declines are primarily the result of the availability of new inventory.

Pre-owned powersports revenue declined 22.2% due to the decrease in units sold.

Pre-owned powersports gross profit increased 22.4%, due to the improvement in gross profit per unit.

Powersports GPU was $5,099, a decrease of 4.7%.

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Last modified on Monday, 13 May 2024 10:23