Polaris Industries Inc. reported that motorcycle segment sales were up 43% in the fourth quarter of 2015, and up 74% year over year, according to the company’s earnings released yesterday. Full year motorcycle sales for 2015 were at $607.9 million.
Overall Polaris sales in 2016 are expected “to be in the range of down 2%, to up 3%” over 2015’s sales, according to a company release.
“While 2015 was a difficult year, we did manage to grow marketshare in each of our businesses and increased sales and earnings per share for the sixth consecutive year,” Scott Wine, chairman and chief executive, said in the release.
Off-road vehicle were down 20% in the 4Q15, and down 2% year over year, according to the company’s earnings. “The strengthening dollar and weakening oil markets combined with an unseasonably warm winter, constrained demand for off-road vehicles and snowmobiles, placing pressure on dealer inventory and forcing us to curtail shipments in the 4Q15,” Wine said.
Income from financial services was also down 7% to $18 million in 4Q15 versus a year ago, due to weak retail and lower shipments, according to OEM. However, income was up 12% to $69.3 million for the full year 2015.
Polaris and Commercial Distribution Finance (CDF) – a division of GE Capital – will continue Polaris Acceptance, a joint venture to provide Polaris dealers with floorplan financing, the companies announced in a previous release.
Polaris and CDF extended the terms of the agreement through 2022. Polaris also extended its partnerships with Synchrony and Sheffield through December 2020.