Polaris Industries reported record net income for its fourth quarter, but also continued to see soft retail sales in its major vehicle categories.
The manufacturer, however, did see improvements in several areas, including in its motorcycle retail sales. Victory’s retail sales rose 30 percent above a year ago although the company’s wholesale revenue remained below last year as the company continues to try to reduce dealer inventories.
There were other notable achievements in Polaris’ fourth quarter as well, even as the company’s overall revenue fell 10 percent compared to a year ago.
Polaris President and Chief Operating Officer Bennett Morgan said the company gained significant market in the core ATV segment as its sales were down percentage-wise just single digits in the fourth quarter. The North American core ATV industry, however, was down in the 20-percentage range during that period, Morgan said.
Polaris saw even better performance in its side-by-side sector as the company’s fourth-quarter sales rose in the double-digit percentage range, Morgan said.