In an announcement that Erik Buell can certainly sympathize with, Polaris announced early Monday morning that the Company was going to begin “winding down its Victory Motorcycles brand and related operations.” effective immediately.<\/p>\n
Polaris has made news recently with the strong re-introduction of the Indian Motorcycle brand, and had even topped headlines with the outstanding performance of both the Victory Project 156 and Empulse models at Pike’s Peak International Hillclimb just last summer.<\/p>\n
It is unfortunate and sad that the brand, not quite 2 decades old, must shutter it’s doors, but Polaris is focusing financial efforts on growing it’s other powersports lines within the company. \u00a0It was not mentioned what is to come of the Empulse electric motorcycle platform, which was already purchased once from the the former manufacturer Brammo.<\/p>\n
Liquid Asset Partners, are you listening? Hello?<\/p>\n
The following is a press release from Polaris:<\/p>\n
POLARIS INDUSTRIES TO WIND DOWN VICTORY MOTORCYCLES OPERATIONS<\/strong><\/p>\n STRENGTHENING ITS\u00a0<\/strong>POSITION\u00a0<\/strong>IN THE POWERSPORTS INDUSTRY\u00a0\u00a0\u00a0<\/strong><\/p>\n <\/p>\n MINNEAPOLIS (January 9, 2017) \u2014\u00a0<\/strong>Polaris Industries Inc.<\/a>\u00a0(NYSE: PII) today announced it will immediately begin winding down its Victory Motorcycles brand and related operations.\u00a0Polaris will assist dealers in liquidating existing inventories while continuing to supply parts for a period of 10 years, along with providing service and warranty coverage to Victory dealers and owners. Today\u2019s announcement\u00a0does not affect any other Polaris business units.<\/p>\n <\/p>\n \u201cThis was an incredibly difficult decision for me, my team and the Polaris Board of Directors,\u201d\u00a0said Polaris Industries Chairman and CEO Scott Wine.\u00a0\u201cOver the past 18 years, we have invested not only resources, but our hearts and souls, into forging the Victory Motorcycles\u00a0brand, and we are exceptionally proud of what our team has accomplished. Since inception, our teams have designed and produced nearly 60 Victory models that have been honored with 25 of the industry\u2019s top awards. The experience, knowledge, infrastructure and capability we\u2019ve built in those 18 years gave us the confidence to acquire and develop the Indian Motorcycle brand, so I would like to express my gratitude to everyone associated with Victory Motorcycles and celebrate your many contributions.\u201d<\/p>\n <\/p>\n Several factors influenced today\u2019s announcement. Victory has struggled to establish the market share needed to succeed and be profitable. The competitive pressures of a challenging motorcycle market have increased the headwinds for the brand. Given the significant additional investments required for Victory to launch new global platforms that meet changing consumer preferences, and considering the strong performance and growth potential of\u00a0Indian Motorcycle, the decision to more narrowly focus Polaris\u2019 energy and investments became quite clear.<\/p>\n <\/p>\n \u201cThis decision will improve the profitability of Polaris and our global motorcycle business, and will materially improve our competitive stance in the industry,\u201d said Scott Wine. \u201cOur focus is on profitable growth, and in an environment of finite resources, this move allows us to optimize and align our resources behind both our premium, high performing Indian Motorcycle brand and our innovative Slingshot brand, enhancing our focus on accelerating the success of those brands. Ultimately this decision will propel the industry-leading\u00a0product innovation that is core to our strategy while\u00a0fostering long-term growth and increased shareholder value.\u201d<\/p>\n <\/p>\n Polaris will reduce the appropriate operating cost based on this decision, while continuing to support the future growth of the ongoing motorcycle business.\u00a0\u00a0Polaris\u00a0remains committed to maintaining its presence in the Spirit Lake, Iowa community with Indian Motorcycle production and in the Huntsville, Alabama community with its Slingshot production.<\/p>\n <\/p>\n Any one-time costs associated with supporting Victory dealers in selling their remaining inventory, the disposal of factory inventory, tooling, and other physical assets, and the cancellation of various supplier arrangements will be recorded in the 2017 income statement in respective sales, gross profit and operation expense. These costs will be excluded from Polaris\u2019 provided 2017 sales and earnings guidance on a non-GAAP basis.<\/p>\n <\/p>\n Polaris will release its fourth quarter and full-year 2016 financial results and provide 2017 guidance on Tuesday, January 24, 2017.\u00a0A webcast and conference call will be held at 9:00 a.m. Central Time on January 24, 2017 to discuss the results. A slide presentation and link to the webcast will be posted on the Polaris Investor Relations website at\u00a0\u00a0ir.polaris.com<\/a>.\u00a0 To listen to the conference call by phone, dial 877-706-7543 in the U.S. and Canada, or 478-219-0273 Internationally.\u00a0 The Conference ID is #45015597.<\/p>\n","protected":false},"excerpt":{"rendered":" In an announcement that Erik Buell can certainly sympathize with, Polaris announced early Monday morning that the Company was going to begin “winding down its Victory Motorcycles brand and related operations.” effective immediately. Polaris has made news recently with the strong re-introduction of the Indian Motorcycle brand, and had even topped headlines with the outstanding…
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