Polaris Reports Huge Second Quarter Sales Growth
Polaris Industries Inc. has reported incredible sales growth for the second quarter (ending June 30, 2011). Sales for the second quarter totaled a record $607.9 million, an increase of 41 percent from last year’s second quarter sales of $430.9 million.
Much of that growth came from off-road vehicle sales, which increased to 41 percent to $482.3 million from $342.1 million the previous year’s second quarter. According to Polaris, the increase reflects significant North American market share gains for both ATVs and side-by-side vehicles and increased sales in Polaris’ military and Bobcat businesses.
North American consumer unit retail sales for Polaris were up mid-teens percent from the second quarter last year, with side-by-side vehicle retail sales climbing significantly and ATV retail sales up mid-single digits percent.
Polaris also saw growth in snowmobile sales ($6.8 million up from $1.9 million), on-road vehicle sales ($30.9 million up from $15.5 million) and parts, garments and accessories ($87.9 million up from $71.4 million).
“The Polaris team continues to excel and I am proud of our ability to accelerate sales while simultaneously expanding margins and strengthening earnings,” says Scott Wine, Polaris’ chief executive officer. “Next week we will be unveiling a number of new model year 2012 products. Innovation has always been one of our key competitive advantages and these products exemplify our commitment to providing consumers with high quality, cutting-edge products.”