The relaunch of Indian Motorcycles continues to be a resounding success for Polaris Industries, helping the company report a 107% increase in second quarter revenue from motorcycle sales.
Polaris reported revenues of $103.1 million in the quarter ended June 30, more than double the $49.9 million in revenue reported over the same quarter last year. Polaris continues to see strong demand for Indian, which relaunched last summer, while demand for Victory decreased by the mid-single digits. Polaris attributes a large part of that decline to a recall affecting several 2014 and 2015 models.
The company continues to develop Indian’s distribution network, which currently has 150 North American dealers signed up, but still just under 100 currently retailing.
For the year-to-date, Indian and Victory motorcycle sales revenue totaled $182.0 million, up 79% from the $101.7 million reported in the first half of 2013.
As a company, Polaris Industries reported a total net profit of $96.9 million over the second quarter, compared to $80.0 million last year. The first half net income totaled $177.8 million compared to $155.5 a year ago. For the rest of the fiscal year, Polaris expects a 16-18% increase in net income with motorcycle revenues increasing 65-75% from 2013.