Polaris has initiated a recall campaign on 6,618 motorcycles representing units from each of Victory‘s 2012-2013 offerings. Though all of Victory‘s models from the last two years are included, the recall campaign pertains to units produced from Jan. 3, to Aug. 15, 2012, and just less than 2% of the units produced over that period […]
Polaris Reports Q3 2011 Results
Polaris Industries announced another record quarter with sales growth across all its product lines including on-road vehicle sales which consist mainly of Victory Motorcycles and Indian Motorcycles.
The Medinia, Minn., company reported $67.6 million in net income for the third quarter ended Sept. 30, 2011, a 43% increase from the $47.2 million reported in the same quarter of 2010. Overall sales brought in $729.9 million, a 26% increase from Q3 2010′s $580.1.
The On-Road division, which consists mainly of Victory Motorcycles, accounted for $35.7 million in sales, a 77% increase from the $20.1 million last year. A large part of that growth came from a 74% increase in overseas sales.
The North American market saw a growth in the “upper-teens percent” over the quarter, a modest result compared to the international sales but still ahead of the overall North American market which saw “mid-single digits percent” growth in heavyweight cruiser and touring motorcycle sales.
Polaris also says the recently-acquired Indian Motorcycles saw a modest amount of sales, as did Global Electric Motorcars, another newly acquired on-road subsidiary.
For the remainder of 2011, Polaris is raising its sales and earnings expectations, forecasting a record year in spite of difficult economic conditions.