11 powersports finance execs to watch in 2026

The powersports industry so far in 2025 has grappled with mixed sales and consumer demand as prices rise, inflationary pressures persist and interest rates remain elevated. Some powersports dealers are faring better than others , with performance largely tied to dealers’ ability to align supply with demand depending, in part, on which segments of the market they play in. Motorcycle sales, for one, fell 9.1% year over year from January through June to 268,802 units, according to Motorcycle Industry Council data shared by Jim Woodruff , chief executive at National Powersport Auctions , at the Powersports Finance Summit in Columbus, Ohio, last month. RV retail registrations also declined 5% YoY in August, while boat registrations were down 10% YoY during the month, according to BMO Capital Markets ’ data. A drop in consumer confidence industrywide led to decreases in prices across nearly every powersports segment in the third quarter. Despite these headwinds, powersports lenders and manufacturers are proving themselves to be resilient, with many securing funding to support growth in 2026. Auto Finance News is pleased to name 11 powersports executives to watch in 2026 who have demonstrated their ability to support dealers, meet customers where they are and lean into technology to drive growth in a challenged retail market. Brad Darling, CEO and president, Argo Canadian all-terrain vehicle manufacturer Argo ’s President and CEO Brad Darling , along with an investment group, spearheaded the acquisition of Thief River Falls, Minn.-based snowmobile manufacturer Arctic Cat in April. [caption id="attachment_58355769" align="alignleft" width="116"] Brad Darling[/caption] Darling spent 16 years at Arctic Cat and served as vice president and general manager of the snowmobile division before joining Argo, a division of Ontario Drive & Gear , in April 2016, according to LinkedIn . He became CEO of Argo in June 2020. Darling and the private investment group bought Arctic Cat from Textron Specialized Vehicles , which had owned the company since 2017, according to published reports, which state that Darling will lead both Argo and Arctic Cat, which will operate separately. The acquisition is expected to forge new life for the Arctic Cat brand following Textron’s pause of the company's production activities in late 2024. Arctic Cat resumed production in August, according to reports. Chris Garrido, CEO, HorsePower Financial Services HorsePower Financial Services in July expanded its motorcycle leasing program to include Benelli and Benda brands, both of which are distributed in the United States by Keeway America . HorsePower, a Palmetto, Fla.-based leasing company, also works with brands such as Can-Am , CF moto , Honda , Indian Motorcycle , Kawasaki , Triumph and Yamaha , so HorsePower is poised to gain market share across top industry brands. [caption id="attachment_58355770" align="alignright" width="158"] Chris Garrido[/caption] The financier’s processes are entirely paperless, CEO Chris Garrido said during a panel discussion at Powersports Finance Summit. “We rely heavily on AI ; we do a lot with very few people,” he said. “Our client is the dealer, and the end user is the dealer’s client. What we focus on is ease — we want the least barriers for both the dealer and the consumer.” Always looking to improve, the company times its transactions against internal goals, and reviews those processes to find ways to make them faster if they do not keep pace, Garrido said. The lender also doesn’t use FICO scores to underwrite leases or tie a lease to an asset, he said, noting HorsePower “underwrites a customer, we give an approval amount and then they go shopping.” As consumers face affordability challenges and demand shifts, HorsePower’s model and technology-focused approach may allow the company to pick up market share in 2026. Bob Kee, chairman, National Powersports Dealers Association The National Powersports Dealer Association is keeping an eye on mixed sales, rising promotions, dealer profitability and optimism heading into 2026. [caption id="attachment_58355771" align="alignright" width="154"] Bob Kee[/caption] Bob Kee , CEO of Kerrville, Texas-based dealership Destination CycleSports , was named chair of NPDA in January. His vision for the association is to serve as a support vehicle for dealers in the industry , Kee said during a fireside chat at the summit. “Big picture: A role we hope NPDA can provide as we move forward [and] our membership has grown and we've got a bigger voice, is being able to get the OEMs to understand that the dealer is where it all happens,” he said. NPDA is also working to bring “24/7, 365 mobile-based education to our high turnover positions in the dealership — salespeople, service writers, parts counter people,” he said. Jon Krumdick, CEO, Ironhorse Funding Beverly, Mass.-based lender Ironhorse Funding won the 2025 Powersports Finance Achievement Award for Company Performance, presented during the summit last month. [caption id="attachment_58355772" align="alignleft" width="192"] Jon Krumdick[/caption] Led by CEO Jon Krumdick , the lender set its sights on growth in the past year, despite the market sales slowdown, rising prices and macroeconomic challenges. Its assets under management surpassed $300 million as of the second quarter and its aggregate originations have surpassed $600 million since its founding in 2018. The company earlier this year was already eyeing ways to grow monthly origination volume to $50 million from $20 million. This comes after Ironhorse doubled its originations volume in the second quarter compared with the fourth quarter of 2024. Ironhorse is also actively seeking capital funding to support more volume and market share. As of June, Ironhorse was looking to secure forward-flow agreements with banks, credit unions and private equity firms. Krumdick said at the summit that 2026 is shaping up to be positive for the industry, but there will still be challenges. “We all need to stay vigilant,” he said. Kenneth Brooks, head of Powersport & Power Equipment Lending, Sheffield Financial Sheffield Financial , a division of Truist Bank , is led by Kenneth Brooks , who has served as head of Powersport & Power Equipment Lending since January 2024. The lender has made big moves in the past year. Sheffield in January announced an agreement with jet-powered boats manufacturer Scarab to provide financing for dealers across the country. The Scarab dealer network can tap Sheffield’s prequalification technology and competitive financing options, according to a Sheffield company release. Sheffield in April also extended its multiyear retail financing agreement with Polaris . The Medina, Minn.-based manufacturer's overall sales totaled $1.9 billion in the second quarter, with third-quarter sales projected to land between $1.6 billion and $1.8 billion. The long-standing arrangement has been in place since 2009, providing Polaris dealers with access to Sheffield’s online dealer portal, prequalification technology, fast approvals, flexible financing options and powersports-specialist underwriters. The financier remains a leading lender in powersports and also has relationships with manufacturers such as BRP and Kawasaki . Kristi Mercier, chief operations officer, ThunderRoad Financial Powersports lender ThunderRoad Financial this year has been eyeing ways to broaden its base of forward-flow investors and drive volume growth while navigating a market defined by uncertainty, tariffs and fluctuating product prices. [caption id="attachment_58355773" align="alignright" width="156"] Kristi Mercier[/caption] Aided by Chief Operations Officer Kristi Mercier, the Reno, Nevada-based lender earlier this year was gearing up for growth and considering multiple forward-flow agreements to support a projected 50% increase in originations volume. These efforts come as powersports buyers struggle with increased interest rates, Mercier said at Powersports Finance Summit. With rates declining after the Federal Reserve passed a 25-basis-point (bps) cut to the benchmark interest rate in September, “next year has a positive outcome,” she said. Gottfried Neumeister, CEO, KTM Motorcycle manufacturer KTM CEO Gottfried Neumeister took the reins in January after former CEO Stefan Pierer stepped down. Neumeister had served as co-CEO of KTM AG and Pierer Mobility AG since Sept. 1, 2024. He has also been a member of the executive Board of Pierer Industrie AG since Jan. 1. [caption id="attachment_58355774" align="alignleft" width="208"] Gottfried Neumeister[/caption] In August, Santander Consumer Bank launched promotional financing for KTM Canada , an expansion of the bank’s relationship with KTM globally. KTM is headquartered in Mattighofen, Austria and in Murrieta, Calif. KTM sold 100,391 motorcycles to end customers in the first half of the year and delivered 50,286 motorcycles to dealers and importers in H1. Neumeister is aiming to preserve the legacy left by Pierer and “break new ground” at KTM, according to a company release. Michael Opdahl, CEO and president, Source One Financial Services Powersports lender Source One Financial Services secured a $250 million forward-flow deal with Monroe Capital in June as the financier shores up funding to support originations growth. [caption id="attachment_58355775" align="alignright" width="181"] Michael Opdahl[/caption] Lakeview, Minn.-based Source One, under the forward-flow agreement, originates RV and marine consumer loans for Monroe, which funds the loans through a credit facility with Canadian Imperial Bank of Commerce . Source One President Michael Opdahl has been keeping a close eye on market uncertainty in 2025 as consumers slowed down on discretionary purchases this year, he previously told AFN . However, Source One in March dropped interest rates by as much as 100 bps, according to a company release. As rates come down, much of the powersports industry is cautiously optimistic about 2026, executives have told AFN . Ryan Richard, vice president of finance and insurance operations, Camping World Recreational vehicle dealer Camping World saw growth in unit sales and finance and insurance revenue this year and is gearing up for improved margins in 2026. With leadership from Ryan Richard , who has been with Camping World for 18 years and has led F&I operations since 2007 as VP, the retailer’s F&I revenue reached a record of $201 million in the second quarter, up 12.4% YoY, according to its earnings filing. Total RV sales rose 20.7% to 45,602 units, with new-unit sales up 20.9% YoY to 26,696 and used-RV sales up 20.4% YoY to 18,906. Camping World leadership in Q2 shared that prices are expected to go up due to tariffs by about 5% in 2026, leading to better margins for the company, while new RV sales are expected to rise by between 15,000 and 20,000 units. Jonathan Root, chief financial officer and president, commercial, Harley-Davidson Harley-Davidson Financial Services is moving to a “capital-light financing business,” as Chief Financial Officer Jonathan Root described the changes during the company’s second-quarter earnings call. Root was named CFO in January 2025. [caption id="attachment_58355776" align="alignleft" width="158"] Jonathan Root[/caption] Asset management firms KKR and Pacific Investment Management Co. bought a stake in HDFS and will be purchasing about two-thirds of loans originated annually for five years. HDFS’ portfolio stood at $6.6 billion in Q2, down 5.7% YoY. Going into 2026, the changes are meant to reduce debt and mitigate risk for the company. Harley-Davidson also reduced shipments and dealer inventory in Q2, both by 28% YoY, to better align supply with sales. Jon Vestal, executive vice president and general manager of recreational lending, Octane With Jon Vestal as executive vice president and general manager of recreational lending, powersports lender Octane has been securing financing, establishing new agreements with manufacturers and boosting originations in 2025, efforts set to continue in 2026. [caption id="attachment_58355777" align="alignright" width="194"] Jon Vestal[/caption] Octane in July inked an agreement with Honda to finance powersports products for nonprime consumers. The financier also in August established a $300 million forward-flow deal with investment management firm Moore Capital Management , bringing its total forward-flow deals in the past 10 months to over $1.5 billion. Octane is also an active issuer in the asset-backed securitization market. After originations jumped 36% YoY in 2024, Octane has surpassed $6.6 billion in aggregate originations. Given market headwinds, the company is focused on supporting customers, dealers and manufacturers, Vestal said during a fireside chat session at last month’s summit. With promotional spend higher, Octane is looking at ways to provide back-end support to offset dealers’ margin compression , he said. The lender is also active in several markets including powersports, RV, marine and outdoor power equipment. “We want to cover as many assets as we can inside a dealership, and as many customers as we can inside that dealership,” Vestal said. “[That’s] even more important in 2025 when you see margin compression, the challenged credit that continues to show up in those dealerships every single day.” Editor's Note: A previous version of this list misidentified the head of power sport & power equipment lending at Sheffield Financial. Kenneth Brooks serves in this role, and this article has been updated to reflect this. Auto Finance Summit 2025, the premier industry event for auto lending and leasing, returns Oct. 15-17 at the Bellagio Las Vegas. Learn more about Auto Finance Summit 2025 and register here .

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11 powersports finance execs to watch in 2026

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