Indian Motorcycle’s parent company, Polaris, has released its 1Q2021 earnings report. The company reports that it has achieved good sales across all segments of its business: off-road vehicles, snowmobiles, motorcycles, related markets, parts and boats.
In terms of motorcycles, Polaris considers both Indian Motorcycle and Slingshot, which produces car-fit trikes, as such, and for some reason does not share these reporting entities. This has always been the case since the transition of these brands under the Polaris wing.
With this in mind, motorcycle sales for Q1 2021 grew by 31 percent compared to Q1 2020. Last year, at this time, the coronavirus pandemic was just beginning, has not yet had its destructive impact on the global economy, both on supply and on demand. Nevertheless, In dollar terms, Polaris motorcycle sales for Q1 2021 were $ 165.6 million, up from $ 126.6 million in the same period last year.
Net profit from motorcycle sales for Q1 2021 was $ 8 million, while Q1 of the previous year brought a loss of $ 1 million. So whatever one may say, the company is doing well, at least in this direction. Will this trend continue in the second quarter? We’ll find out pretty soon, time flies by.
As for the North American market separately, retail sales of Indian Motorcycle specifically in Q1 2021 grew by slightly 60 percentIn general, the segment of mid-and large-capacity motorcycles, which includes Indian Motorcycle products, grew by over 30 percent over the same period. Speaking of the Polaris motorcycle segment as a whole (i.e. adding Slingshot sales to Indian Motorcycle), sales in the North American market grew more than 70 percent in the first quarter of 2021.
Polaris has stood the test of 2020 pretty well and looks to have a pretty good start in 2021. How the rest of this year will show itself remains to be seen, but either way, a good start is half the battle.