Polaris Industries ( owner of Indian Motorcycles ) reported record fourth quarter 2017 sales of $ 1,431 million , up + 18 percent . “ I am proud of the Polaris team and excited to see their dedication and hard work pay off as we returned the company to sustainable profitable growth in 2017 . Indian Motorcycles massively outperformed the Motorcycle industry , building on its existing momentum with a flood of product news and a very successful year on the race track ”, said CEO Scott Wine . Motorcycle segment sales , including PG & A , totalled $ 103 million , a decrease of two percent compared to $ 104 million reported in the fourth quarter of 2016 which included $ 25 million of Victory Motorcycle wholegood , accessory and apparel sales . Indian Motorcycles wholegood sales increased in the high-single digit percent range in the fourth quarter , while Slingshot sales more than doubled . Gross profit for the fourth quarter of 2017 was $ 5 million compared to $ 1 million in the fourth |
quarter of 2016 . Adjusted for the Victory Motorcycles wind down costs of $ 3 million , motorcycle gross profit was $ 8 million , up from the fourth quarter last year due to higher sales volume for both Indian Motorcycles and Slingshot and lower warranty costs . Off-Road Vehicle (“ ORV ”) and Snowmobile segment sales , including their respective PG & A related sales , were $ 994 million for the fourth quarter of 2017 , up 13 percent over $ 881 million for the fourth quarter of 2016 driven primarily by improved side-by-side shipments . PG & A sales for ORV and Snowmobiles combined , increased nine percent in the 2017 fourth quarter compared to the fourth quarter last year . Gross profit increased + 11 percent to $ 279 million , or 28.0 percent of sales , in the fourth quarter of 2017 , compared to $ 252 million , or 28.6 percent of sales , in the fourth |
quarter of 2016 . Gross profit percentage decreased primarily due to higher warranty and negative product mix offset somewhat by lower promotional costs . International sales to customers outside of North America , including PG & A , totalled $ 211 million for the fourth quarter of 2017 , up + 18 percent , from the same period in 2016 . In the fourth quarter , sales in EMEA grew low-twenties percent , Asia Pacific increased high-single digits percent , and Latin America sales rose mid-teens percent . In corporate terms gross profit increased + 18 percent to $ 368 million for the fourth quarter of 2017 from $ 313 million in the fourth quarter of 2016 . Polaris announced its intention to wind down its Victory Motorcycles operations on January 9 , 2017 . The decision is expected to improve the |
“ Indian Motorcycles massively outperformed the motorcycle industry , building on its existing momentum with a flood of product news and a very successful year on the race track ”
long-term profitability of Polaris and its global motorcycle business , while materially improving the company ’ s competitive position in the industry .
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