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Industry: Polaris looking for record sales and buys Indian

4-27-2011

by moto123.com

Polaris Industries has to be satisfied with its latest sales figures as it continues to break previous records established last year with first quarter sales up by more than 49%.

For example, snowmobiles sales were up 61%, Polaris attributed its strong quarter to an increase of shipments to customers outside of North America. The North American snowmobile industry ended its season strong with sales up 7% due to heavy snowfall, Polaris said.

Meanwhile, its largest segment, off-road vehicles, saw sales rise 55%. North American retail sales increased 12% for the first quarter, while ORV sales outside of North American were up 20%. Side-by-side sales increased significantly.

By comparison, the on-road vehicle division, including Victory motorcycles, increased 77% during the quarter with more than a 59% increase outside of North America.

Polaris has announced the acquisition of Indian Motorcycles as well as the acquisition of Global Electric Motorcars LLC. GEM is a subsidiary of Chrysler Group LLC and manufacturer of premium electric-powered vehicles.