“We are excited to advance our electric vehicle capability by establishing Polaris as a business partner and part owner of Brammo, one of the most innovative and aggressive companies we have found in the electric motorcycle space,” says Scott Wine, Polaris CEO. “Our companies share a passion for performance, and we look forward to exploiting the numerous opportunities created by pairing Brammo’s industry-leading electric powertrain technology with Polaris’ vast array of market-leading powersports products. This is a small, but important, investment for Polaris in an electric vehicle market that we feel is poised for significant growth.”
Polaris Off-Road Vehicle sales are up 25 percent in the third quarter.
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.
Polaris Industries Inc. today announced the company has received a $54-million, three-year contract to provide All-Terrain Vehicles (ATVs), spare parts and trailers to Afghan and Iraqi security forces, the U.S. Government and other allied governments. The contract was received from the U.S. Army Contracting Command-Warren and includes options to extend the contract two additional years. This new contract award follows Polaris’ successful completion on an earlier multi-year contract awarded by the Army in 2007.
“Polaris is proud to serve the U.S. Military and our allies. As the leading supplier of Military ultra-light mobility platforms, we provide our customers the most capable, high performance ATVs. For almost a decade, we have been working with Military customers, all over the world, integrating their unique needs with cost effective mobility solutions,” says Scott Wine, CEO of Polaris Industries. “With more than 3,000 battle proven vehicles deployed in theater, we have developed a strong understanding of our customers’ requirements. This unique position, coupled with our world-class manufacturing operations, allows us to supply vehicles quickly to meet the urgent operational needs of this contract.”