It’s the turn of Polaris to announce bad news regarding their 2009 On-Road Division, primarily Victory motorcycles, third quarter results. Sales decreased 56 percent during the third quarter of 2009 when compared to the same period in 2008. Victory retail sales to consumers declined more than the industry wide sales of heavyweight cruiser and touring motorcycles over 1400cc, down 20% during the 3rd quarter 2009 when compared to quarter last year.
Polaris reported a net income of $31.2 million, a decrease of 17 percent for the quarter ended September 30, 2009, compared to the third quarter 2008 net income of $37.7 million. Sales for the third quarter 2009 totaled $436.2 million, a decrease of 25 percent from last year’s third quarter sales of $580.3 million. Sales for the full year 2009 are expected to decline in the range of 20 to 22 percent compared to the full year 2008, narrowed from previously issued guidance.
Opposite to Harley-Davidson strategy, Polaris stated that to reinvigorate retail sales, the company is adding personnel and resources, streamlining the product line-up, increasing promotions and expanding its international market presence. Two new 2010 touring motorcycles have been introduced, the Cross Country and Cross Roads models,, both targeted at the large touring motorcycle market segment. Additionally, several value oriented models were added to the Victory line for model year 2010. During the 2009 third quarter the on-road division began shipping the Polaris Breeze, the Company’s first electric powered low emission vehicle, to a select number of neighborhood vehicle dealerships. The initial response to the product by dealers and consumers has been positive. Victory Motorcycles.