Polaris rides Ranger to success in second quarter
Polaris Industries Inc. posted impressive sales of $430.9 million in the second quarter of 2010, an increase of 25 percent from $345.9 million in 2009. Helping to drive that success is Polaris’ off-road vehicles (ORV) sales, which jumped 31 percent in the quarter to $342 million from $261.7 million in 2009.
ORV sales figures includes both ATVs and Ranger side-by-side vehicles. According to Polaris, the increase in sales reflects significant market share gains for both ATVs and side-by-side vehicles. ATV retail sales were actually down in North America, but Ranger sales increased significantly. In addition, shipments of the first units of the differentiated sourced utility vehicle to Bobcat began late in the second quarter of 2010.
Also a boon for Polaris is that North American dealer inventories of ORVs declined 37 percent during the second quarter compared to 2009 second quarter levels. Additionally, ORV sales to customers outside of North America increased 33 percent in the second quarter 2010 compared to the 2009 second quarter, due to market share gains in both ATVs and side-by-side vehicles.
“Next week Polaris will unveil the new model year 2011 products at our annual dealer meeting,” says Scott Wine, Polaris’ chief executive officer. “We have maintained our focus on product and process innovation and are very excited to introduce several new, high quality products within our ORV and Victory motorcycles lines.
“In an environment that has proven to be very unpredictable, the execution of the Polaris team has been exceptional and we expect the momentum we have generated in the first half of 2010 to continue throughout the remainder of the year.”