AMD266 September 2021 Aftermarket Moto Design 266 September 2021 | Page 64

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NEWS

BRIEFS

The MIC reports Q2 new-model motorcycle sales among leading brands were + 15.2 % in USA . Compared to the year-ago period , YTD sales of on-highway models were + 25.2 %; dual sport models + 16.7 %; scooters + 8.3 %. Only offhighway sales dipped slightly through Q2 , by -3.2 %.
Polaris has announced a regular quarterly cash dividend of $ 0.63 per share payable on September 15 , 2021 to shareholders of record at the close of business on September 1 , 2021 .
The eight AMA Hall of Fame inductees for 2021 are Dave Arnold , Nancy Davidson , Gary Denton , Tommy Hays , Loretta Lynn , Scott Plessinger , Kenny Tolbert and Ryan Villopoto . " The AMA Motorcycle Hall of Fame Class of 2021 includes men and women who have excelled in competition , promotion and advocacy of the sport we all love ," said AMA President and CEO Rob Dingman . " They have advanced motorcycling in areas as diverse as amateur motocross to American V- twin culture ." They will be recognized at the annual Hall of Fame dinner ( October ) located on the AMA campus in Pickerington , Ohio .
In addition to acknowledging that it will eventually adopt common-platform swappable batteries with rivals Honda , Kawasaki and Suzuki , Yamaha has stated that while it only expects 2.6 % of bikes to be electric by 2030 , it projects a rapid increase after that , reaching 20 % by 2035 and 90 % adoption by 2050 , with lowcarbon technologies like synthetic fuel accounting for much of the remaining combustion-engined market at that stage .

LeMans Appoints Paul Langley as New Chairman

Fred Fox founded LeMans in the basement of his house in 1967 and since then has dedicated his life to building LeMans into a leading global powersports distribution company with 1,100 + employees and eight warehouses . Indeed , Fred ' s drive and determination has done much to shape the parts and accessory aftermarket we have today , and his leadership and the team he has built have made major contributions to the businesses his company buys from and sells to .

Polaris Reports Record Second Quarter Sales

Polaris Inc . has reported Q2 sales increased + 40 % to $ 2,117m - reported gross profit margin was 26.0 %, up by 403 basis points over the prior year . The company states that the increase was primarily due to lower promotional costs and increased pricing , partially offset by increased input costs including supply chain constraints , logistic , labor and commodity prices . North American retail sales decreased -28% for the quarter compared to uncharacteristically strong retail sales in the year-ago period , driven largely by low product availability due to supply chain constraints limiting production . On a two-year basis , retail sales were up + 14 % over second quarter 2019 pre-COVID levels and
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However , on reaching 85 years of age , Fred has decided to slow down a little in the new role of Chairman Emeritus . Paul Langley has been named Chairman of LeMans . " I have enjoyed a strong partnership with LeMans for the past twenty plus years and know that LeMans is one of the most successful and well managed companies in our industry ," said Paul . " I am honored to serve as Chairman , which is a privilege I must earn each day forward . " There will be a steep learning curve , new problems to solve ,
and I look forward to working with familiar and new faces in our electrifying industry . Having Fred close by affords me the benefit of tapping into his wisdom on a regular basis ." LeMans is the parent company of Parts Unlimited , Drag Specialties , Parts Canada and Parts Europe . Paul is no stranger to senior powersports industry management roles , having successfully served in leadership roles with S & S Cycle , Vance & Hines and Dynojet .
CONSOLIDATED STATEMENTS OF INCOME ( LOSS ) ( in thousands US $)
Three months ended June 30
Six months ended June 30
2021
2020
2021
2020
Sales
2,117.2
1,511.8
4,068.3
2,917.0
Cost of sales
1,565.8
1,179.1
3,036.4
2,291.4
Gross profit
551.4
332.7
1,031.9
625.6
Operating expenses : Selling and marketing
154.2
119.6
300.1
269.8
Research and development
88.8
66.8
168.3
145.2
General and administrative
107.5
87.9
194.6
166.4
Goodwill and other intangible asset impairments
--
379.2
--
379.2
Total operating expenses
350.5
653.5
663.0
960.6
Income from financial services
13.7
25.4
29.9
45.1
Operating income
214.6
( 295.4 )
398.8
( 289.9 )
Net income
158.4
( 235.4 )
292.5
( 240.8 )
Diluted Net income per share : $ 2.52 $( 3.82 ) $ 4.63 $( 3.90 )
64 AFTERMARKET MOTO DESIGN - SEPTEMBER 2021 www . AMDchampionship . com