SOURCE: NavStar Technologies, Inc.

NavStar Technologies, Inc.

February 02, 2012 08:30 ET

NavStar Technologies Reports Significant Growth in PowerSports Market Segment for 2011

ANAHEIM, CA--(Marketwire - Feb 2, 2012) - NavStar Technologies, Inc. (PINKSHEETS: NVSR), a company focused on producing and commercializing products and services for tracking/monitoring and reporting on the location and condition of high-value cargo and other assets, has issued an update on the turn-around in the growth of the PowerSports market segment for 2011.

Dave McMahon, senior editor, Powersports Business, reported that the PowerSports market segment reversed a 5 year downward trend in 2011 and reported positive growth led by dual sport motorcycles (14%) and scooters (12%). For 2011, Harley-Davidson recently released U.S. retail sales data and reported that sales of new Harley-Davidson motorcycles increased 5.8 percent to 151,683 units. BMW Motorrad delivered 104,286 motorcycles worldwide in 2011, the most motorcycles ever delivered in the division's nearly 90-year history.

These trends are very positive news as NavStar Technologies is months away from delivering monitoring and tracking hardware and services specifically targeted at this market segment. While the major focus of the NavStar device and service is the recovery of stolen motorcycles and scooters, it can also be used to track and monitor daily activity as well as display location and movement on maps at NavStar's website, which may be accessed utilizing a user's unique ID and password.

"We are pleased to report this positive news about growth in the market segment that we are initially focused on in 2012. The positive growth, coupled with the fact that more 30,000 motorcycles/scooters are being stolen annually in the US and Canada, makes our feature-rich, low cost product/service offering compelling and affordable for everyone," said N. Douglas Pritt, Chairman & CEO, NavStar Technologies, Inc.

Pritt continued, "J D Power & Associates also reported this month that in 2011, 75% of all new motorcycles purchased were associated with a trade-in which bodes well for NavStar as we will distribute and sell our products and services through dealerships that are reselling these trade-ins, giving us another opportunity for a product/service sale."

There are already 6.1M PowerSport owners in the US and the early reports for 2011 indicate that this number will increase, reversing a 5 year negative trend.

About NavStar Technologies, Inc.
NavStar (www.navstarinc.com) is a rapidly growing provider of asset tracking products and services in the US and in emerging countries around the world. With a proven product and 20,000 units in service, we provide an affordable solution to protect and monitor high-value assets and cargo. NavStar's overall goal is the creation of products and services which support a variety of market segments including, cars, trucks, recreational vehicles and people.

Contact Information

  • CONTACT:
    NavStar Technologies, Inc.
    Patrick Bannister
    714-502-6900
    Email Contact: Email Contact