Polaris Creates New On-road Division
Polaris creates new on-road division
Best known for its ATVs, Polaris is realigning its assets to maximize cohesive and strategic growth for Victory Motorcycles and other on-road products and brands. Polaris did not specify what other on-road products or brands will be introduced.
Victory Motorcycles, with its strong brand recognition and customer loyalty, will be one of the major components of our new On-Road Vehicle Division that were announcing today, says Scott Wine, chief executive officer of Polaris Industries. This new division will support our efforts to be the Best in Powersports and continue building on our strong on-road brands and global market leadership in this critical space.
Polaris sales and corporate marketing vice president Mike Jonikas will lead the new division. Mark Blackwell, who has led Victorys day-to-day operations for the past eight years, will continue as the new divisions vice president of motorcycles. Steve Menneto, previously Polaris director of North American Sales has been promoted to general manager of Victory Motorcycles.
In its first quarter 2009 financial report released April 16, Polaris reported $312 million in total sales, of which only $13.8 million (4.4%) came from Victory Motorcycles. Off-road vehicles accounted for 69% of Polaris first quarter sales.
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