Victory sales fall in second quarter
Overall Polaris sales up 21%
Polaris sales for the second quarter of 2008 totaled $455.7 million, an increase of 21% over last year’s second quarter sales of $376.9 million.
“Our operating results this quarter are very strong especially given the very challenging macroeconomic environment,” says Tom Tiller, chief executive officer of Polaris Industries Inc. “Sales for the full year 2008 are now expected to grow in the range of nine to eleven percent over full year 2007 sales of $1.78 billion.”
Much of Polaris’ growth has been attributed to the performance of its side-by-side vehicles, international operations and parts, garments and accessories businesses. Second quarter ATV sales of $350.3 million (up from $282.1 million in 2007) led the way and helped offset the slower sales of Victory motorcycles.
Victory motorcycle sales decreased 19% during the 2008 second quarter. According to Polaris, the North American retail sales for heavyweight cruiser and touring motorcycles remained weak. All told, Victory motorcycles had sales of $23.4 million in the quarter, compared to $29.0 million over the same period in 2007.
“Next week we will be unveiling our model year 2009 products at our annual dealer meeting,” says Tiller. “Innovation has always been a cornerstone of Polaris’ success and our new model year 2009 products will reflect the high standards that our customers have come to expect from Polaris. While we set the bar high in model year 2008 with our innovative new products including the Ranger RZR, Ranger Crew and Victory Vision, we similarly have high expectations for our new model year 2009 products. Despite a tough external environment that is not likely to improve in the near-term, we expect the momentum that we generated in the first half of 2008 to carry over into the second half of the year.”