Polaris crosses $1 billion in sales in second quarter

Publish Date: 
Jul 22, 2014
By Vince Guerrieri

MINNEAPOLIS, Minn. - Polaris continues to add to its Indian dealer lineup and grow motorcycle shares as the company posted its 19th straight record quarter for sales and net income, the company announced Tuesday.

Polaris reported $1.01 billion in sales for the quarter, a 20 percent increase year-over-year, and $96.9 million in net income, a 21 percent increase, for the quarter ending June 20. North American retail sales were up 15 percent, led by off-road vehicle and motorcycle sales.

The company is now forecasting $4.475 billion in annual company sales, an increase over previous estimates, as it prepares to introduce its 2015 models at the annual dealer show next week.

“We are in a very healthy position as we transition into model year 15,” said company President Bennett Morgan.

The Ranger XP 900 and RZR 1000 off-road vehicles have been introduced already to good buzz, and the rest of the lineup – including the Slingshot, which Morgan called “the worst-kept secret in powersports” – will be introduced July 27 at Polaris’ 60th anniversary sales meeting.

The Slingshot, billed by the company as a “reverse trike,” will be available in a base model, and the Slingshot SL, which will be the premium model, Morgan said.

Motorcycle revenue has doubled year-over-year, to $103.1 million for the quarter. Victory sales are down slightly, which Morgan attributed to a recall. Morgan reported a positive reaction to the Gunner, introduced at the Chicago International Motorcycle Show earlier this year.