Martin Landry : Okay, that’s helpful. Thank you.
Jose Boisjoli : Thank you, Martin.
Operator: Your next question comes from Xian Siew from BNP Paribas. Please go ahead.
Xian Siew : Hi, guys. Thanks for the question. Maybe following up a little bit on that. You guide for flat industry for calendar ’23. Can you help us think about how much share you think you can gain? Is it you gained 5 points of share this year, ’22. Is it the same level again in ’23? And are there any kind of different areas we should be thinking about a highlight utility, but are there other kinds of areas or where you should be gaining more share?
Jose Boisjoli : Yeah. Good morning. Well, the first thing is from a shared growth perspective on the on a seasonal product business that we’re not expecting share growth. We are planning for consumer industry which would be down versus pre-COVID. And we’re already at 60% and above market share for these products around the world. So on that segment, we’re not expecting any market share gains. On year end products business, if you were to look at where is the growth coming from just maintaining our market share in side-by-side, the market share that we’ve gained in fiscal ’23 would bring 7% revenue growth. The pricing impact is a 4% revenue growth. And obviously, we will not stop at the market share that we have in ’23. So our expectation is to gain further market share.
And that could be another 5% to 10% revenue growth driven from those gains. As we said, obviously, we have a solid line up, but we also have exciting product introductions that are coming this year, which will obviously help the fuel — further fuel market share gains and growth in business.
Xian Siew : Okay, got it. Thanks. And then maybe on the OpEx de-leverage, you mentioned 50 bps. Maybe can you just talk about some of those investments, is it just the fixed costs from the increased capacity? Are you investing more in kind of sales and marketing and or R&D? Any color there would be helpful.
Sebastien Martel : Well, as you saw on our return on capital slide that we showed this morning, obviously, we have a solid track record. And that doesn’t come by magic, it comes through investments, and obviously talented people. And so will continue investing in R&D, continue investing in marketing, in order to drive future growth for this business. We’re in this business for the long-term. And so business — or the secret of our success. And we’ll continue doing that. So as we grow the business, we expanded to new segments, obviously comes with higher investment.
Xian Siew : Okay, thanks, guys. Good luck.
Operator: Your next question comes from Craig Kennison from Baird. Please go ahead.
Craig Kennison: Well, hey, good morning. And thanks for taking my question. Slide presentation has been great. So thanks for that as well. I guess I wanted to ask about first time buyers, because I know you mentioned that that metric had stayed strong. I’m curious if you’ve been able to track first time buyers from early in the pandemic purchase cycle, and whether you’ve seen any behavior trends evolve in terms of trade in cycles, or their willingness or desire to upgrade?
Jose Boisjoli : Yeah, but wanting, Craig. Obviously, we doing a lot more data, we looking at that more research about this on the quarterly basis. But basically, before COVID, and we’ve said that number before, new entrant — our products sold to new entrant was about 20%. And now like I see, in fiscal year ’21-’22, it was slightly above 50% and now it’s 42%. And it’s very, very healthy. And what is interesting is intent to stay in the industry have increased. Now it’s at 70%. And the other factor is the household income that we watching carefully. And I think that explain also reason why access to credit remain high. Then when you combine all this together, I know there is a lot of macroeconomic concern and the macroenvironment, but we feel quite good where we stand in the industry.
