Aftermarket Moto Design 287 June 2023 AMD 286 June 2023 | Page 64

NEWS

BRIEFS

US Indian Motorcycle Unit Retail Flat in a Down Market

Sources : AMD , IDN , FT , Reuters , PSB , MPN , BDN , MCN , AP , Bloomberg , MSNW , Electrek , electricmotorcycles . news , RideApart . com , Motor1 . com , Cycle World , motorbikewriter . com
The Bagger Racing League ( BRL ) has hired former Buffalo Chip and Electrify Expo publicist Lon Nordbye ' s Yatzke Marketing to lead marketing and commercial development .
Windy City Motorcycle Company , a motorcycle distributor in the Midwest and operator of ‘ The National Online Used Motorcycle Dealership ,’ has acquired Triumph Detroit and partnered with Moto House of Grand Junction , Colorado . The two new stores will be added to its existing operations of thirteen Harley-Davidson , two Triumph , two KTM , one BMW and one Royal Enfield locations . Triumph Detroit is an iconic dealership in the history of Triumph Motorcycles in America , setting the overall motorcycle land speed record with the Triumph Detroit Gyronaut X-1 . It was at one time the largest Triumph dealership in the world . Moto House primarily sells Honda , Ducati and CF Moto - Windy City will manage the operations of the dealership .
A recent spate of blog appearances of so-called spy pictures of Hero ' s upcoming Indian market Harley models stemmed from a teaser campaign prompted by unmarked envelopes appearing on the desks of several Indian magazine editors . They were clearly Hero inspired , rather than genuine ' spy-shots ,' as no genuine spy photographer shoots in black and white , let alone anonymously distributes the results in the form of prints without asking for any payment .
Norton Motorcycle , the TVS / India owned comeback , has opened its first flagship showroom at the Bike Shed in London .
Polaris has reported Q1 sales up by + 22 % compared to the year ago at $ 2,180m , with market share gains across all segments - " strong performance in Snow , as well as sustained demand in utility Off Road and Indian Motorcycle more than offset softness in recreational Off Road ." Retail sales for the quarter were down 5 % versus Q1 , 2022 , but + 14 % versus Q1 , 2019 . Primary sales drivers in the quarter were said to be favorable unit ship volumes , product mix and net pricing , partially offset by higher finance interest . North America unit retail sales for Indian Motorcycle were flat . North America unit retail sales for the comparable motorcycle industry were down low-double digits percent . On Road segment results were bolstered by better product availability , given an improving supply chain environment , as well as the improved product mix . Segment PG & A sales increased + 19 %. Segment gross profit margin performance was driven by favorable product mix and higher volumes . CEO Mike Speetzen is quoted as saying : " We started the year off strong , delivering on our sales , margin and EPS expectations , as well as share gains across the portfolio . In January , we promised 2023 would bring industry-leading vehicle news , and with the recent launch of our fully redesigned RZR XP and production underway of our all-electric RANGER XP Kinetic , we are just getting started on that commitment and believe we will continue this momentum throughout the year . " While retail remains mixed , we are seeing good signs within the business
CONSOLIDATED STATEMENTS OF INCOME ( LOSS )
Three months ended March 31
2023
2022
Sales
2,179.7
1,781.5
Cost of sales
1,710.5
1,428.6
Gross profit
469.2
352.9
Operating expenses : Selling and marketing
137.6
111.6
Research and development
96.5
80.8
General and administrative
90.8
71.7
Total operating expenses
324.9
264.1
Income from financial services
16.8
11.4
Operating income
161.1
100.2
Net income
113.6
69.9
Diluted Net income per share : $ 1.95 $ 1.14
as we enter the spring selling season . We remain agile and confident in our ability to execute against our plans , drive profitable growth and bring compelling offerings to dealers and customers in 2023 ." Polaris North America ORV unit retail sales were down -10 %. Estimated North America industry ORV unit retail sales were down lowdouble digits percent . Segment Parts , Garments and Accessories ( PG & A ) sales were flat . Segment gross profit margin performance was driven by favorable net pricing and lower cost premiums ,
more than offsetting higher finance interest . Snow season-end retail was up low-single digits percent versus the industry estimate of down lowsingle digits percent . Total North America sales of $ 1,842m represented 85 % of total company sales and increased 24 % from $ 1,491m in 2022 . International sales of $ 338m represented 15 % of total company sales and increased + 16 % versus the first quarter of 2022 . In terms of continuing 2023 business outlook , Polaris says it " continues to expect 2023 sales to be flat to up 5 % versus 2022 . The company continues to expect adjusted diluted EPS from continuing operations attributed to Polaris Inc . common shareholders to be down 3 % to up 3 % versus 2022 .