Photo: Victory Motorcycles
Some bike makers did a great job in 2016 but other really struggled to keep up and, unfortunately, Polaris is part of the last category. The company released sales numbers for last year, and you can now understand why it had to shut down Victory Motorcycles.
Owner of Indian and Victory, Polaris Industries Inc. just released is sales figure for the full year ended on December 31st, 2016, reporting sales of $4,516,629, which is 4 percent less than the year before.
In November 2016, Polaris also completed the acquisition of TAP, a vertically integrated manufacturer, distributor, retailer, and installer of off-road Jeep and truck accessories, for an aggregate consideration of $669,000. Add in the costly recalls and you get the picture on net income.
“2016 was a difficult and challenging year for Polaris, but our culture is geared to deal head on with adversity and learn from it, and that’s what we did in 2016,” Polaris CEO Scott Wine said. “In response to a series of recalls, we took the necessary steps to ensure that Polaris vehicles deliver the quality, safety, and performance that our customers expect. We are relying on these enhanced improvements, consistent execution, and aggressive innovation to regain our footing as the ‘Best in Powersports.”
While the snowmobile and ORVs sales decreased just one percent, the motorcycle sector was way lower. The fourth quarter was lowest, with a decrease of 35 percent compared to the same period in 2015.
Although Indian and Victory’s lineups grew last year, the company had to reduce motorcycle production in the fourth quarter to complete the final paint system upgrade in Spirit Lake. Slingshot sales were also down due to low product availability related to the recalls.
With everything going downhill, Polaris announced earlier in January its intention to wind down its Victory Motorcycles operations in order to improve long-term profitability for the company.
Polaris expects full year 2017 adjusted net income to be in the range of $4.25 to $4.50 per diluted share, compared with adjusted net income of $3.48 per diluted share for 2016. Full year 2017 sales are anticipated to increase in the range of 10 percent to 13 percent over 2016 sales of $4,516.6 million.
In November 2016, Polaris also completed the acquisition of TAP, a vertically integrated manufacturer, distributor, retailer, and installer of off-road Jeep and truck accessories, for an aggregate consideration of $669,000. Add in the costly recalls and you get the picture on net income.
“2016 was a difficult and challenging year for Polaris, but our culture is geared to deal head on with adversity and learn from it, and that’s what we did in 2016,” Polaris CEO Scott Wine said. “In response to a series of recalls, we took the necessary steps to ensure that Polaris vehicles deliver the quality, safety, and performance that our customers expect. We are relying on these enhanced improvements, consistent execution, and aggressive innovation to regain our footing as the ‘Best in Powersports.”
While the snowmobile and ORVs sales decreased just one percent, the motorcycle sector was way lower. The fourth quarter was lowest, with a decrease of 35 percent compared to the same period in 2015.
Although Indian and Victory’s lineups grew last year, the company had to reduce motorcycle production in the fourth quarter to complete the final paint system upgrade in Spirit Lake. Slingshot sales were also down due to low product availability related to the recalls.
With everything going downhill, Polaris announced earlier in January its intention to wind down its Victory Motorcycles operations in order to improve long-term profitability for the company.
Polaris expects full year 2017 adjusted net income to be in the range of $4.25 to $4.50 per diluted share, compared with adjusted net income of $3.48 per diluted share for 2016. Full year 2017 sales are anticipated to increase in the range of 10 percent to 13 percent over 2016 sales of $4,516.6 million.
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