Post Tagged with: "Polaris"

Change in License Terms Poised to Boost Slingshot Finance Volume

Change in License Terms Poised to Boost Slingshot Finance Volume

by April 10, 2017 at 10:59 am

Riders in 30 states can now drive a Polaris Slingshot with a valid state driver’s license — instead of a previously required motorcycle license — which could boost sales and even lower credit losses on the three-wheeled vehicles, according to Donal Hummer Jr., ThunderRoad Financial’s chief executive. ThunderRoad Financial isRead More

Polaris Originations Rise 10%, Wholesale Receivables Dip 8% in 2016

Polaris Originations Rise 10%, Wholesale Receivables Dip 8% in 2016

by March 17, 2017 at 11:48 am

Polaris Industries Inc. reported a 10% year-over-year increase to $1.1 million in volume of revolving and installment credit contracts written in 2016, according to the company’s 2016 annual report. Consumers financed approximately 33% of Polaris’ vehicle sales in 2016 through the company’s combined retail finance arrangements with Performance Finance, SheffieldRead More

Polaris 4Q Results: Retail Finance Penetration Ticks Up to 33%

Polaris 4Q Results: Retail Finance Penetration Ticks Up to 33%

by January 24, 2017 at 11:30 am

Polaris Industries Inc. announced higher retail finance penetration rates — 33% — for the full-year 2016, up from 31% in 2015, thanks to successful financial promotions and the launch of Performance Finance, Mike Speetzen, Polaris’ executive vice president of finance and chief financial officer, said during the OEM’s fourth-quarter earningsRead More

Polaris Shuts Down Victory Brand, Finance Partners to Remain Intact

Polaris Shuts Down Victory Brand, Finance Partners to Remain Intact

by January 10, 2017 at 11:30 am

Polaris Industries Inc. announced yesterday that it will immediately begin winding down its Victory Motorcycles brand after 18 years of investing in the motorcycles. However, the closing is not expected to alter any financing arrangements Polaris currently has, Director of Investor Relations Richard Edwards told Powersports Finance. “We do not anticipateRead More

‘Substantial’ Growth on the Horizon for ThunderRoad Financial

‘Substantial’ Growth on the Horizon for ThunderRoad Financial

by October 31, 2016 at 10:30 am

In April, ThunderRoad Financial LLC became the second powersports lender in the industry to issue a securitzation backed by prime and subprime motorcycle retail installment loans — previously only done by Harley Davidson Financial Services. The Reno, Nev.-based lender has also grown to a dealer base of more than 300Read More

Polaris Retail Program to Expand Trade-In Alternatives

Polaris Retail Program to Expand Trade-In Alternatives

by August 23, 2016 at 11:00 am

A new retail finance program in the works between powersports manufacturer Polaris Industries Inc. and FreedomRoad Financial will provide the OEM’s dealers with more trade-in opportunities, according to documents obtained by Powersports Finance. “We’ve got a trade-in allowance to help us compete with Harley-Davidson Inc. to some extent, in terms of being ableRead More

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Polaris Takes ‘Disciplined’ Approach to Low Fico Consumers, CFO Says

by July 20, 2016 at 11:00 am

Polaris Industries Inc. is working with one of its third-party financial partners “to target deeper into lower credit bands,” Mike Speetzen, the manufacturer’s executive vice president of finance and chief financial officer, said during an earnings call today, “but we are doing it in a deliberate manner” in an effort to serve consumersRead More

Polaris President Retires, CEO Absorbs Role

Polaris President Retires, CEO Absorbs Role

by May 23, 2016 at 10:30 am

After 29 years with Polaris Industries Inc., President and Chief Operating Officer Bennett Morgan announced his retirement in mid-May. The powersports manufacturer does not plan to hire a replacement, but rather, Polaris’ current Chief Executive and Chairman Scott Wine will assume Morgan’s responsibilities moving forward, according to a company pressRead More