Off-road vehicle sales increase 49%
Polaris Industries Inc. has reported an impressive increase in sales in its third quarter (ended September 30, 2010), fueled largely by the sales of its off-road vehicles.
Sales for the third quarter totaled $580.1 million, an increase of 33 percent when compared to $436.2 million recorded in the same period last year. The bulk of those sales came courtesy of Polaris’ off-road division, which includes ATVs and Ranger side-by-sides. Off-road sales for the quarter totaled $389.3 million, a 49 percent improvement compared to the same period last year ($261.1 million).
According to Polaris, this increase reflects significant market share gains for both ATVs and side-by-side vehicles, as well as the success of the MVP retail go-to-market process. The MVP program was expanded and made available to all North American ORV dealers beginning in the 2010 third quarter.
During the third quarter, Polaris began shipping several new model year 2011 units including the Ranger 500 EFI, Ranger Crew 500, and the Ranger Diesel. In addition, shipments to Bobcat of the differentiated utility vehicle, which began shipping in the second quarter, accelerated in the 2010 third quarter.
“We are pleased with the execution of the Polaris team and our Company’s performance during the third quarter,” says Scott Wine, Polaris’ chief executive officer. “While the economy and overall consumer demand remains weak, our growth continues to be fueled by innovative new products and our strong dealer network.”