NEWS
BRIEFS
Sources: AMD, IDN, FT, Reuters, PSB, MPN, B&B, BDN, MCN, AP, Bloomberg, MSNW, Electrek, electricmotorcycles.news, RideApart.com, Motor1.com
Contrary to rumors, speculation and
expectations, it looks like the
creditors left holding the baby when
Norton Motorcycle (UK) Limited filed
for bankruptcy in the UK in January
this year may well get their money
back after all - including several
hundred people who invested some
of their pension pots into one or
more of the pension plans that ex
CEO Stuart Garner appeared to have
used/misused to prop the business
up. According to the statutory
'Statement of Affairs' prepared by
the bankruptcy managers, if the
assets remaining to be sold realize
anything close to market value, then
there should be enough left to pay
off all creditors, with a surplus.
BRP has launched a new pilot
project - Uncharted Society - to
offer "experiences to explore
epic playgrounds" on Sea-Doo,
Can-Am or Ski-Doo vehicles.
More than 40 "expertly curated
experiences" are on offer in
USA "from the Grand Canyon,
Zion National Park and the Gulf
of Mexico to the Rockies,
Joshua Tree, and many more
bucket-list destinations."
This year's Las Vegas Bike Fest is
cancelled. Originally planned for
October 1-4, the 20th anniversary
event is now slated for September
30-October 3, 2021.
Indian has issued a recall for
certain 2019 Scout and Scout
Bobber motorcycles equipped
with Anti-Lock Brake Systems
due to a possible reduction in
brake performance. After the
manufacturing process, air may
remain trapped within the
brake system - dealers will be
asked to perform a brake fluid
bleed of the front and rear ABS
to evacuate the air.
Before the decision to (apparently)
cancel or at least postpone entry into
the streetfighter market in MY2021
(with the 'Bronx'), it would appear
that Harley had planned for four
sizes of its new liquid-cooled 60-
degree V-twin Revolution Max to be
developed, initially with the 1,250 cc
powering the Pan America (as
confirmed by CEO Jochen Zeitz for
MY2021) and a 975 cc in the Bronx -
with 500 and 750 cc iterations also
at varying stages of preparation.
<<< Continued from back page
economic slowdown.
Motorcycles segment sales,
including PG&A, totaled $141m,
down 28% compared to the second
quarter of 2019, driven by decreased
sales of both Indian Motorcycle and
Slingshot. Polaris motorcycles segment
sales were down driven by the COVID-
19 related temporary suspension of
production that impacted shipments
primarily in April. Gross profit for the
motorcycle sector for second quarter
was $4m compared to $23m in the
second quarter of 2019.
North American consumer retail
sales for Indian Motorcycle
increased mid-teens percent
during the second quarter of
2020 in a weak mid to heavyweight
two-wheel motorcycle
industry that was down highteens
percent.
North American consumer retail sales
for Polaris' Motorcycles segment,
including both Indian Motorcycle and
Slingshot, increased low-twenties
percent during the second quarter of
2020, while the North American
motorcycle industry retail sales for mid
to heavy-weight motorcycles,
including three-wheel vehicles, was
down high-teens percent in the
second quarter of 2020.
Despite the strong retail sales,
Polaris Motorcycles segment
sales were down driven by
COVID-19 related temporary
suspension of production during
the quarter.
The 2020 second quarter net loss
includes a $379m pre-tax, non-cash
goodwill and other intangible asset
impairment charges related to the
company's aftermarket business,
principally Transamerican Auto
Parts (TAP).
Gross profit decreased 24% to $333m
for the second quarter; reported gross
profit margin was 22.0% of sales.
Income from financial services was
$25m for the second quarter of 2020,
up 28% - primarily due to the strong
North American retail sales demand
during the quarter.
Off-Road Vehicles ("ORV") and
Snowmobiles segment sales, including
PG&A, totaled $953m for the second
quarter of 2020, down 9% due to a
decline in side-by-side sales. PG&A
sales for ORV and Snowmobiles
combined increased 17%; gross sector
profit decreased 15% to $252m.
ORV wholegood sales for the
second quarter of 2020 decreased
"We couldn't be more pleased with the response to the class-leading Challenger."
14%. Polaris North American ORV
retail sales increased over 60% for the
quarter, with both side-by-side
vehicles and ATV vehicles up
significantly. The North American ORV
industry was up over 60% compared
to the second quarter last year.
Snowmobile wholegood sales in
the second quarter of 2020 were
$12m compared to $16m in the
second quarter last year.
Boats segment sales decreased
28% to $132m in the 2020 second
quarter compared to $182m in the
2019 second quarter. Gross profit
decreased 54% to $19m or 14.1% of
sales in the second quarter of 2020,
compared to $41m or 22.2% of sales
in the second quarter of 2019.
2020 Business Outlook - The
company re-initiated its sales and
adjusted earnings guidance for the full
year 2020. Adjusted net income is
expected to be in the range of $6.40
to $6.60 per diluted share for the full
year 2020 compared to adjusted net
income of $6.32 per diluted share for
2019. Sales are now expected to be in
the range of $6.650bn to $6.750bn,
flat to down two percent compared to
2019 adjusted sales of $6,783m, due
to the pandemic-driven plant
shutdown in the second quarter 2020.
10 AMERICAN MOTORCYCLE DEALER - SEPTEMBER 2020 www.AMDchampionship.com