Polaris Industries has decided to stop making Victory motorcycles because the brand hasn’t done well in the market. Polaris will start right away with the paperwork to shut down Victory Motorcycle so that it can focus on Indian Motorcycles. This news came as a surprise because just a few weeks before, Victory Motorcycles was at Auto Shows showing off its 2017 lineup.
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The official press release says that Polaris will start selling off its dealer network’s current stock of products right away. The company promises to cover service, parts, and warranties for the next ten years for the people who already own Victory Motorcycles.
You Are Watching: Polaris Shuts Victory Motorcycle Brand Updated 04/2024
“This was a very hard choice for me, my team, and the Polaris Board of Directors to make,” said Scott Wine, Chairman and CEO of Polaris Industries. “Over the past 18 years, we have put not only money into building the Victory Motorcycles brand, but also our hearts and souls into it. We are very proud of what our team has done.” Since the company began, our teams have designed and made nearly 60 Victory models that have won 25 of the best awards in the industry. In those 18 years, we built up the experience, knowledge, infrastructure, and skills that gave us the confidence to buy and grow the Indian Motorcycle brand. I’d like to thank everyone involved with Victory Motorcycles and celebrate their many contributions.
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“This decision will make Polaris and our global motorcycle business more profitable. It will also make us much more competitive in the market. Our main goal is to grow in a way that makes us money. In a world with limited resources, this move allows us to optimise and align our resources behind both our premium, high-performing Indian Motorcycle brand and our innovative Slingshot brand, making it easier for us to speed up the success of both. In the end, this decision will help move forward the industry-leading product innovation that is at the heart of our strategy. It will also lead to long-term growth and more value for our shareholders.
Polaris thinks this is the right choice because Victory Motorcycles didn’t have a big enough market after 18 years for them to be profitable. After 2012, when sales were at their highest, they kept going down. Three of the last five years, Victory Motorcycles has been losing money (2011-15). Polaris still has the Indian brand to go up against the Harley-Davidson. Since Polaris bought Indian Motorcycles in 2011, the company has done well in the market.
Sources: https://micdot.com
Category: Vehicles
