In light of its recent product recalls, Polaris CEO Scott Wine said the company’s number one priority in the coming weeks is to get its loyal customers back to riding safely, according to an article in the Minneapolis Star Tribune.
“The company says it has added support for dealers affected by the recall, made ‘significant’ enchancements to infrastructure and leadership to improve the products and invested in new product innovations.”
There have been eight recalls issued from Polaris since January 2015, totaling more than 252,000 all-terrain vehicles. Polaris intends to spend $120 million in 2016 in the form of fire fixes, retests, research, new warranties and promotions. The company has also slashed its profit forecast for the year by 43 percent.
UBS Investment Research Analyst Robin Farley said in the article that if Polaris’ recalls slow and stop, its sales could recover by December 2018, but predicted that profits won’t recover until 2020.
To read the full article, click here.
