American Motorcycle Dealer 308 March 2025 AMD308 March 2025 | Page 48

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NEWS

BRIEFS

The 39th Biker Fest International ( an AMD Approved Custom Bike Show host event ) is slated for May 15-18 , 2025 at its traditional Lignano Sabbiadoro ( Udine ) venue on the Adriatic coast of northeastern Italy ; www . bikerfest . it
Dynojet has signed up as a new title sponsor of the H-D factory race team for the 2025 MotoAmerica King Of The Baggers road racing season . Dynojet joins a Harley team sponsor roster that includes Rockford Fosgate , Mission Foods , Brembo , Ohlins , Akrapovic , Protolabs , SYN3 lubricants and Sreamin ' Eagle Performance Parts and Accessories .
MotoAmerica has confirmed that global powersports distributor Parts Unlimited will be the title sponsor of the new MotoAmerica Parts Unlimited Talent Cup . Designed to prepare young North American racers who have the desire and talent to compete on the world stage of MotoGP , the Championship will make its debut at the Red Bull Grand Prix of The Americas at COTA , March 28-30 .
Previously known as the Pro Flattrack AMA Rookie Class of 79 and Friends Fund , the Back on Track Charity ( an IRS approved non-profit 501 ( c )( 3 ) fundraiser ) was created by former racers to provide financial assistance to the injured AFT and MotoAmerica riders and their families of today . In a draw that will close on March 15 , a new 2024 Indian FTR is up for grabs ; www . back-ontrack . com
Chennai , India based Royal Enfield reportedly sold 944,000 motorcycles in 2024 , a + 4.7 % increase over 2023 , making it the tenth largest motorcycle manufacturer in the world by unit volume . Originally a small arms manufacturer in 1893 , Royal Enfield started making motorcycles at Redditch , England in 1901 . Production ceased there in 1967 , ending in England completely four years later but continuing as a manufacturer in India . Present owner Eicher acquired the brand in 1994 .

Indian Motorcycle Units Sales " Flat " in a 2024 Market Down High-Single Digits Percent

Polaris Inc has reported its Q4 and full year results for 2024 , with Q4 On Road segment results delivering a -21 % decline in segment sales revenues at $ 180.80m , from $ 229.2m for the yearago , and -3.91 % segment gross profit margin at 9.9 % down from 13.8 % for the year ago . The decline in sales revenue was driven by reduced unit sales with North America unit retail sales for Indian Motorcycle " flat " in the context of estimated North America unit retail sales for the comparable motorcycle industry down high-single digits percent . So looked at through the Indian Motorcycle lens " flat " is the new " growth " at present . On Road segment PG & A sales were down by -15 %. The gross profit margin performance was driven by a favorable comparable last year and operational efficiencies , partially offset by a mix headwind . Overall , Polaris ' full year 2024 sales were $ 7,175m , down -20 % compared to 2023 . Fourth quarter sales were $ 1,755m , down -23 % compared to 2023 . Primary factors said to have been affecting fourth quarter sales were lower volume due to " planned reductions in shipments as we actively managed dealer inventory in a subdued retail environment ." Fourth quarter North America market share was flattish across all three segments . Powersports retail sales for the quarter were down -7 % versus 2023 . Polaris announced 2025 full year sales expected to be down -1 % to -4 % with full year adjusted earnings per share expected to be down by approximately -65 %. Full year 2024
CONSOLIDATED STATEMENTS OF INCOME ( LOSS ) ( in thousands US $)
Three months ended December 31
Twelve months ended December 31
2024
2023
2024
2023
Sales
1,755.4
2,289.2
7,175.4
8,934.4
Cost of sales
1,397.5
1,812.3
5,708.6
6,974.5
Gross profit
357.9
476.9
1,466.8
1,959.9
Operating expenses : Selling and marketing
113.8
127.0
500.4
542.3
Research and development
78.2
92.8
336.9
374.3
General and administrative
126.2
136.9
436.5
422.8
Total operating expenses
318.2
356.7
1,273.8
1,339.4
Income from financial services
26.1
22.5
97.6
80.4
Operating income
65.8
142.7
290.6
700.9
Net ( income ) loss attributable to noncontrolling interest
( 0.2 )
0.1
( 0.4 )
0.1
Net income
10.6
103.4
110.8
502.8
Diluted Net income per share : $ 0.19 $ 1.81 $ 1.95 $ 8.71
reported diluted earnings per share was $ 1.95 , down -78 % versus last year ; adjusted diluted earnings per share was $ 3.25 , down -65 % versus last year . Mike Speetzen , Chief Executive Officer of Polaris Inc . is quoted as saying : " Amid a tough year for the powersports industry , I ' m proud of the Polaris team ' s disciplined focus to make progress within the areas we can control . " We were relentless in our efforts , resulting in continued innovation leadership with our products , a 16- percent reduction in ORV dealer inventory , and an operational efficiency savings goal that was exceeded by over $ 100m . " Polaris has weathered storms before , and we believe we are positioning our organization to emerge from this downcycle even stronger . While I anticipate challenging headwinds will carry forward into 2025 , we will remain focused on being a strong partner to our dealers , providing our riders with high quality products and working to deliver long-term value to shareholders ." " Off Road segment sales were driven by lower unit volume due to planned shipment reductions as we actively managed dealer inventory in a subdued retail environment ." PG & A sales were down by -15 %. Polaris North America ORV unit retail sales were flat . Estimated North America industry ORV unit retail sales were up mid-single digits percent . The Marine segment also saw lower volumes due to planned shipment reductions . www . polaris . com
48 AMERICAN MOTORCYCLE DEALER - MARCH 2025 www . AMDmag . com