January 17, 2024

20 U.S. residential automatic standby generator dealers in the Northeast (7), Midwest (5), Southeast (4), Southwest (1) and on the West Coast (3), comprising 13 Generac and 7 Kohler dealers

REPEAT SOURCES 11 from OTR Global’s October report

INTERVIEWS Dec. 28 through Jan. 3

High Prices Curb Q4 Sales Growth
High pricing caused U.S. residential standby generator yy sales growth to moderate during 4Q23, but the 2024 sales outlook remained optimistic.

• 4Q23 residential standby generator dollar sales flat–up 3% yy (vs. up 3%–6% in 3Q23, below
October expectations of up 3%–6%)

• Pricing up 6%–8% yy during 4Q23 (similar to 3Q23), helped offset soft volumes but still deterring
some interest

• 4Q23 inventory levels up in 4%–6% yy, adequate relative to demand for 15 of 17 sources,
excessive for 2 (similar to 3Q23)

• 2024 sales expected up 4%–7% yy (similar to expectations in October) based on increasing
prices, hopes for decreasing interest rates