Polaris Sales Drop in First Quarter
Polaris off-road vehicle (ORV) sales during the first quarter 2009 fell 19 percent compared to the first quarter 2008. ORV sales accounted for $215.5 million this quarter, compared to $264.5 million one year ago. ORV sales includes both ATV and Ranger side-by-side vehicles.
“This decrease reflects the weakening consumer retail environment in North America, as dealers continued to reduce core ATV orders in an effort to reduce inventory levels,” Polaris says in a release.
According to Polaris, ATV dealer inventory levels in North America finished 17 percent lower at the end of the first quarter 2009. Though the weak economy saw lower side-by-side sales in the first quarter, Polaris says dealer inventories for the Ranger lineup remain at acceptable levels.
“While the outlook for the remainder of 2009 remains challenging, we continue to proactively take steps to streamline our business and optimize our cost structure,” says Polaris CEO Scott Wine. Moreover, our strategic initiatives are beginning to gain traction and positively impact our results.”
Polaris snowmobile sales also fell 13% from $9.4 million to $8.2 million, while Victory motorcycle sales dropped 49% from $87.4 million to $74.6 million.