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 2012 Results
Polaris reported a record third quarter including a 78% year-on-year increase in on-road vehicle sales, most of which is from Victory Motorcycles.
According to the Minnesota company’s third quarter report, Polaris recorded a profit of $94.3 million in the three months ended Sept. 30, 2012, compared to a profit of $67.6 million reported in the same quarter of 2011. Off-road vehicle sales continue to drive Polaris’ sales, but the on-road division, consisting of the Victory and Indian motorcycle brands as well as electric vehicle brand GEM and Goupil, continues to make gains.
On-road vehicle sales generated $63.4 million in revenue for Polaris, with a bulk of that coming from Victory. That represents a 78% increase from the $35.7 million reported in the corresponding quarter of 2011. Demand for Victory motorcycles was strong in all of Polaris’ global markets, including North America.
Despite an overall single-digit percent decrease in the North American heavyweight cruiser and touring motorcycle market, Victory saw a 25% increase in unit sales. Outside the continent, Polaris reports a 150% increase in on-road vehicle sales.
On the year, Polaris reports a profit of $224.2 million over three quarters, compared to a profit of $163.7 million in the first nine months of 2011. Revenues for on-road vehicles totaled $192.8 million, up 73% from $111.4 million.