Polaris crosses $1 billion in sales in second quarter

Publish Date: 
Jul 22, 2014
By Vince Guerrieri

Morgan said the Indian dealer network continues to grow, with 150 dealers signed up, and 95 of those actively selling. The goal is to have 125 dealers selling by the end of the year. Morgan said the time from signup to retail is variable, but taking longer than planned. He also said that the Victory and Indian lineups complement each other, and allow for bigger market share.

“We’re happy with the price points and we think both brands perform very well,” Morgan said.

Company CEO Scott Wine said Indian’s market share was around 3 percent, but said it was in line with their expectations. Indian has already announced two-tone paint jobs for some of its 2015 models, and will make further product announcements at the dealer meeting next week.

PG&A sales were also up 20 percent year-over-year, to $159.7 million, as the company said it is starting to see results from its acquisition of Kolpin, which was announced in April. However, the acquisition took a toll on gross margins this quarter. More than 350 new accessories will be introduced at the dealers meeting next week for the 2015 model year.

Off-road vehicles saw a 13 percent increase in sales, to $701.5 million. Snowmobile sales are down year-over-year, from $8.5 million to $6.1 million, but 2015 models are ordered ahead of expectations, Morgan said.

Sales increased internationally by 26 percent, led by strong performances in Australia, China, Mexico and Brazil. The company anticipates new plants coming online before the end of the year in Poland and India.

“We expect to maintain above-market growth in our international business,” Wine said.