RideNow Group has secured an additional $35 million in floorplan capacity, bringing its total credit capacity to approximately $400 million. This expansion is a result of securing $35 million in financing through Wells Fargo, which increased RideNow's floorplan capacity from $100 million to $135 million.
The new funding will be allocated across two main areas: $115 million dedicated to new-vehicle inventory for Polaris, Indian, and Suzuki, as well as a $20 million allocation for pre-owned-vehicle inventory. This strategic investment will enable RideNow to maintain its competitive edge in the powersports industry.
Michael Quartieri, Chairman, CEO, and president of RideNow Group, attributes the expansion to the hard work of his team in improving operations and strengthening OEM partnerships. The company believes this increased floorplan capacity will allow it to better align its new and used vehicle inventory, ensuring a right product mix for customers at its dealerships nationwide.
The timing of this funding is particularly significant as RideNow anticipates it will support product availability throughout the 2026 riding season. With increased liquidity for new and pre-owned units, the company remains confident in its ability to continue as a national leader in the powersports industry.
RideNow Group currently controls 50 powersports dealerships across the United States, making this expansion a notable achievement in the company's growth strategy. The additional funding will enable RideNow to maintain its market position and meet customer demand for new and used vehicles.
The increased floorplan capacity will also provide RideNow with greater flexibility to respond to changes in the market and customer preferences. This strategic investment will allow the company to stay ahead of the competition and continue to drive growth in the powersports industry.
As the riding season approaches, RideNow is well-positioned to capitalize on the demand for new and used vehicles. The company's expanded floorplan capacity will enable it to maintain a strong product mix and meet customer demand across the country.
The success of this funding initiative underscores RideNow Group's commitment to its customers and partners. By securing additional funding, the company is able to invest in its operations and strengthen its relationships with OEMs.
RideNow Group's expanded floorplan capacity will have a positive impact on the powersports industry as a whole. The increased liquidity for new and pre-owned units will benefit not only RideNow but also other dealerships across the country.
The increased funding will enable RideNow to better align its new and used vehicle inventory, meeting customer demand across the country.
