Polaris Industries a record fourth quarter ended Dec. 31, 2013, with sales revenue of $1.08 billion and a net income of $108.7 million. While off-road vehicles represent the bulk of Polaris’ business, its motorcycle operations saw a 94% increase in fourth quarter sales, thanks to strong demand for Victory Motorcycles and the addition of new Indian Motorcycles models.
Motorcycle sales generated $68.8 million in revenue over the fourth quarter, nearly double the $35.4 million reported in the same quarter of 2012. While Victory continues to do well, much of the increase is from the launch of the Indian Chief Classic, Chief Vintage and Chieftain early in the quarter. The increase is especially remarkable in comparison to the North American heavyweight cruiser and touring motorcycle industry, which Polaris says saw a much smaller increase in the low-teens percent over the quarter.
For the 2013 fiscal year, Polaris reports $219.8 million in sales revenue from its motorcycle division, a 12% increase from the $195.8 million reported the year before. Overall, Polaris reports combined sales across all its divisions of $3.78 billion in 2013, compared to sales of $3.21 billion in 2012.
Overall net income from the fourth quarter was $1.08 million, up 23% from the previous year. For 2013, net income increased 22% to $381.1 million.
Polaris says it will continue accelerating production of Indian motorcycles, forecasting an increase of 65 to 75% in motorcycle sales for 2014.