Published on April 26th, 2015 | by Daniel Sherman Fernandez0
Polaris Record Profits From Victory & Indian Motorcycles
Polaris Industries Inc. has just reported record first quarter net income of $88.6 million for the quarter ended March 31, 2015, an increase of nine percent from the 2014 first quarter net income of $80.9 million. Sales for the first quarter 2015 totaled $1,033.3 million, which represents an increase of 16 percent from last year’s first quarter sales of $888.3 million.
Product innovation remains a significant growth driver with a stable of innovative motorcycles with the introduction of the Indian Chief Dark Horse®, the Victory Magnum X-1®, and a limited edition Slingshot SL.
Motorcycle sales increased 74 percent in the 2015 first quarter to $137.4 million. All three brands, Victory, Indian Motorcycle® and Slingshot, increased sales in the first quarter. Consumer retail demand for Victory and Indian Motorcycles during the 2015 first quarter, was up nearly 40 percent over last year’s first quarter, driven primarily by strong Indian Motorcycle retail sales, while first quarter North American industry heavyweight cruiser and touring motorcycle retail sales were up low-single digits percent from 2014. Slingshot retail sales were ahead of expectations.