Polaris Industries, owner of both Indian Motorcycles and Victory Motorcycles has announced a record sales year. In fact, 2014 was the fifth successive record sales year and included an increase in revenue of its motorcycle division of 59 per cent – more than double any other product segment that Polaris deals in.
A big part of Polaris’ success was the release of the new 2015 Roadmaster and the rebirth of the mid-sized motorcycle (and well received) Indian Scout which so far has done so well that there’s a few months back order in some locations. Also released was the unique three-wheeled ‘motorcycle’, the Slingshot, although that particular product has had a few hiccups. Certain states are not happy with it’s designation as a motorcycle (which determine what license you require to drive it) and Polaris only yesterday issued a recall on the Slingshot due to roll hoops that do not meet hardness specifications.
“2014 marks our fifth consecutive year of double digit sales and earnings growth, an accomplishment which testifies to the innovative spirit and dedication of the 8,000 member global Polaris team. It is inspiring to see how they overcame obstacles ranging from negative foreign exchange impacts and a weakening European economy, to highly volatile oil and crop prices, to record a 19 percent increase in both sales and net income for the full year 2014. During the year, we added over thirty new vehicles to the Polaris armada, expanding and strengthening our portfolio with our largest ever new product introduction, while our strategic acquisitions and significant investments in our global manufacturing infrastructure allow us to both create and meet the increasing demand for our products,” explained Scott Wine, Polaris’ Chairman and Chief Executive Officer.
Overall, total revenue for the 2014 financial year was up 19 per cent to $4.47 billion while net profit was also up 19 per cent to $454 million. Polaris has forecast an increase in both revenue and profit for 2015 of 9 to 12 per cent. Polaris was also recently in the news after announcing the purchase of Brammo’s electric motorcycle division.