Polaris Industries reported a 55% increase in sales revenue from Victory Motorcycles in 2010.
On-road vehicle sales, consisting primarily of Victory Motorcycles, generated $81.6 million in sales for Polaris in 2010, an increase from $52.8 million reported in 2009. The 2010 fiscal year marked the first year-on-year sales increase for Victory since 2007 and the largest percentage increase since a 70% rise reported in 2003.
On the whole, Polaris reported a record net income of $147.1 million in 2010 including a record $54.5 million in the fourth quarter.
“2010 was an exceptional year for Polaris. Not only did we deliver record sales and earnings, but the Polaris team made significant progress toward our long-term strategy and positioned the business for profitable growth in the future. We gained market share in all of our businesses and grew sales in every region of the world,” says Scott Wine, chief executive officer of Polaris Industries Inc.
In the face of flagging North American motorcycle sales, Victory increased both sales and market share in 2010. Though industry-wide demand for heavyweight cruiser and touring motorcycles was low, Polaris reports strong demand for its Cross Country and Cross Roads models.
The fourth quarter represented the fifth consecutive quarter of year-on-year sales and market share gains. Victory sales totaled $20.6 million in the quarter ended Dec. 31, 2010, an increase of 8% from the same quarter of 2009. Unit sales increased 15% in the fourth quarter with North American dealers reporting a 30% decline in Victory Motorcycles inventory.