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Polaris Industries

May 10

Polaris Motorcycle Division to Exhibit & Showcase New Model Lineup at 2017 AIMExpo

By General Posts

The Polaris Motorcycle Division will make its American International Motorcycle Expo (AIMExpo) debut in September at the Greater Columbus Convention Center. Both Indian Motorcycle and Polaris Slingshot will be presenting their full 2018 model year lineup.

Produced by the Motorcycle Industry Council, AIMExpo is the single most important event of its type in the North American market and has international impact within the motorcycle and powersports industry. Polaris Motorcycle Division’s support of AIMExpo further demonstrates the company’s continued support to grow and expand the motorcycle industry. In addition, the AIMExpo provides an ideal platform to reach consumers and entertain dealers.

“The AIMExpo provides both Indian and Slingshot the ideal platform to reach and engage the North American market and to showcase each brand’s new model year lineups,” said Steve Menneto, President, Polaris Motorcycle Division. “Additionally, the city of Columbus is strategically situated within the sweet spot of our consumer base, as well as our dealer network, making it an ideal location to showcase our products to key constituencies.”

The AIMExpo’s purpose is to serve as the catalyst to bring together industry, press, dealers and consumers in a single arena that creates a grand stage for motorcycling and powersports in the U.S. and North America. AIMExpo delivers an efficient and energetic market-timed expo platform for B2B and B2C in the powersports industry.

“We’re excited to welcome Indian Motorcycle and Polaris Slingshot to the AIMExpo for the first time,” said Larry Little, Vice President & General Manager, MIC Events. “Both brands bring a unique story unlike any other brand – with Indian’s historic place in motorcycling and Slingshot’s category-creating design. We fully expect both brands to be well received from attending industry professionals and consumers, and believe Indian and Slingshot will help contribute to make this the best show yet.”

Jan 09

Goodbye Victory Motorcycles — The Brand Now Enters American Motorcycle History

By General Posts

Polaris Industries, the giant behind Victory Motorcycles and Indian Motorcycle has announced that it will immediately begin winding down its Victory Motorcycles brand and related operations. Polaris will assist dealers in liquidating existing inventories while continuing to supply parts for a period of 10 years, along with providing service and warranty coverage to Victory dealers and owners.

“This was an incredibly difficult decision for me, my team and the Polaris Board of Directors,” said Polaris Industries Chairman and CEO Scott Wine. “Over the past 18 years, we have invested not only resources, but our hearts and souls, into forging the Victory Motorcycles brand, and we are exceptionally proud of what our team has accomplished. Since inception, our teams have designed and produced nearly 60 Victory models that have been honored with 25 of the industry’s top awards. The experience, knowledge, infrastructure and capability we’ve built in those 18 years gave us the confidence to acquire and develop the Indian Motorcycle brand, so I would like to express my gratitude to everyone associated with Victory Motorcycles and celebrate your many contributions.”

Several factors influenced today’s announcement. Victory has struggled to establish the market share needed to succeed and be profitable. The competitive pressures of a challenging motorcycle market have increased the headwinds for the brand. Given the significant additional investments required for Victory to launch new global platforms that meet changing consumer preferences, and considering the strong performance and growth potential of Indian Motorcycle, the decision to more narrowly focus Polaris’ energy and investments became quite clear.

“This decision will improve the profitability of Polaris and our global motorcycle business, and will materially improve our competitive stance in the industry,” said Scott Wine. “Our focus is on profitable growth, and in an environment of finite resources, this move allows us to optimize and align our resources behind both our premium, high performing Indian Motorcycle brand and our innovative Slingshot brand, enhancing our focus on accelerating the success of those brands. Ultimately this decision will propel the industry-leading product innovation that is core to our strategy while fostering long-term growth and increased shareholder value.”

Polaris will reduce the appropriate operating cost based on this decision, while continuing to support the future growth of the ongoing motorcycle business. Polaris remains committed to maintaining its presence in the Spirit Lake, Iowa community with Indian Motorcycle production and in the Huntsville, Alabama community with its Slingshot production.

Any one-time costs associated with supporting Victory dealers in selling their remaining inventory, the disposal of factory inventory, tooling, and other physical assets, and the cancellation of various supplier arrangements will be recorded in the 2017 income statement in respective sales, gross profit and operation expense. These costs will be excluded from Polaris’ provided 2017 sales and earnings guidance on a non-GAAP basis.

Polaris will release its fourth quarter and full-year 2016 financial results and provide 2017 guidance on Tuesday, January 24, 2017. A webcast and conference call will be held at 9:00 a.m. Central Time on January 24, 2017 to discuss the results. A slide presentation and link to the webcast will be posted on the Polaris Investor Relations website at ir.polaris.com. To listen to the conference call by phone, dial 877-706-7543 in the U.S. and Canada, or 478-219-0273 Internationally. The Conference ID is #45015597.

Source: Polaris Industries Inc.