Every three months Polaris sends out a quarterly report on sales figures and profit margins. We’re certainly not experts in business, but it’s difficult not to notice that Polaris has been thriving in recent years while many other manufacturers continue to battle a tough economy.
Polaris has reported record third quarter sales (three months ending Sept. 30, 2011) of $729.9 million, up 26 percent from last year’s third quarter sales of $580.1 million. Through the first nine months of 2011 Polaris has totals sales of $1.87 billion. This sales growth was felt across all product lines (Off-Road, Snowmobile, On-Road, and Parts, Garmets & Accessories).
Off-Road Vehicle sales, comprised of ATVs and Ranger side-by-side vehicles, increased 25 percent year-over-year, to $486.2 million, during the third quarter 2011. According to Polaris, this increase reflects significant North American market share gains for both ATVs and side-by-side vehicles. Through the first nine months of 2011, Off-Road Vehicle sales have reached $1.36 billion.
North American ORV unit retail sales from dealers to consumers for the 2011 third quarter were up low-teens percent year-over-year, with side-by-side vehicle consumer retail sales climbing significantly and ATV consumer retail sales down mid-single digits percent. Polaris sales of ORVs outside of North America increased 59 percent compared to the third quarter 2010.
Parts, Garments, and Accessories (PG&A) sales increased 21 percent during the third quarter 2011 to $112.9 million compared to the same period last year. During the 2011 third quarter the Company introduced over 200 new accessories and garments to the PG&A product line for the 2012 model year.
“Despite challenging economic conditions, we are pleased to report another record quarter of sales, net income and earnings per share,” says Polaris CEO Scott Wine. “I am exceptionally proud of how the Polaris team continued to drive growth and productivity in the third quarter. Each of our businesses experienced strong sales growth in the period, primarily driven by sustained market share gains.
“We expect 2011 will be a record year for Polaris, demonstrating our commitment to making growth happen in spite of adverse economic conditions.”