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.