Polaris, owner of the Indian Motorcycles brand, has released its 2019 financials. However, unlike the reports of other companies, this document contains rather vague data. All we know from it is that the figures for both growth and decline for various indicators were less than 10%. The good news is that despite the global downward trend in motorcycle sales, Indian Motorcycles’ sales are up. We do not know how much, but we have grown.
Indian motorcycles are up by “small figure” in percent – the exact value is for some reason kept secret. Polaris reports that this result was mainly due to the release of the new Challenger, which arrived at the end of October 2019. Apparently, the new bagger was received very warmly and in two full months of sales pulled up the entire quarterly, and then the annual result.
Unfortunately, the brand does not publish data on the sales of new items as a separate item, so we only know that it is being sold. “Good”… At the same time, despite the positive result of the year for the Indian brand, in general, the Polaris segment of motor vehicles dropped somewhat due to poor Slingshot sales.
It’s funny: by hiding sales figures for certain directions and models of motor vehicles, Polaris openly publishes information that in general, their motor division, including components, merchandise and accessories, showed sales growth for the fourth quarter by 37%. According to Scott Vine, Chairman and CEO of Polaris Industries Inc, “Sales of auto parts showed very modest growth in the fourth quarter, with motorcycle parts, apparel and accessories, including the aftermarket, earning more than $ 1 billion in revenue for the first time in 2019.”…
The company’s gross income declined due to “increasing advertising and after-sales costs” – this should be understood as “we had too many recall campaigns in 2019”… However, despite the setbacks, the company ended the year with 7% growth, so at least this year was successful, which is good.
The positive from Indian’s point of view, the report was released immediately after the pessimistic report of its main competitor – Harley Davidson, which noted a drop in sales due to the sagging American market. Both American companies are looking forward to improving their results in 2020.