BOOTH #
NEWS
BRIEFS
The latest reports concerning stage one bids received by Volkswagen by the appointed July date for Ducati did not , after all , include Harley . Yay , hurrah for our side ! It is thought that by the time the reports emerged connecting Harley with seeking bid advice from Goldman Sachs , the executive suite at Juneau Avenue had already cooled on the idea , as the full gravitas of their way worse than expected second quarter results dawned on them .
Polaris says “ Indian motorcycle unit sales increased significantly ” in the second quarter
BOOTH #
3307
On the other hand , several bids were received by VAG advisor Evercore – motorcycle related and investor-led bids . As a second stage of bidding is set to get underway , the Italian Benetton family and India ’ s giant ( and KTM partner ) Bajaj Auto are thought to be in the holeshot .
However , their 47.96 % ownership stake in KTM , recently announced plans to work with KTM brand Husqvarna to take the venerable off-roaders global and their Ducati ambitions haven ’ t stopped Bajaj Auto CEO Rajiv Bajaj from continuing to get creative where finding ways to spending the conglomerate ’ s $ 13 bn cash reserve are concerned . On August 8 , they announced a non-equity tieup with British manufacturer Triumph to offer a range of midcapacity motorcycles in emerging markets .
AMD is pleased to note that former World Championship competitor Athena “ Chickie ” Ransom has re-opened her Vagabond Choppers emporium at Pompano Beach , Florida , after a torrid few years .
Polaris Industries has reported second quarter 2017 sales of $ 1,364.9 million , up + 21 percent from $ 1,130.8 million for the second quarter of 2016 . Adjusted sales , which excludes the impact from Victory Motorcycles net sales for the second quarter of 2017 , were $ 1,358.8 million compared to $ 1,130.8 million in the prior year period . Motorcycle segment sales , including its PG & A related sales in the second quarter of 2017 , was $ 198.0 million , a decrease of -13 percent compared to $ 228.4 million reported in the second quarter of 2016 , which included $ 6.2 million of Victory motorcycle unit , accessory and apparel sales versus $ 54.0 million of Victory sales reported in the second quarter of 2016 - driven by new product introductions and increased awareness of the brand . This increase was more than offset by significantly lower Slingshot sales . Motorcycle gross profit for the second quarter of 2017 was $ 21.1 million compared to $ 38.9 million in the second quarter of 2016 . Adjusted for
SECOND QUARTER PERFORMANCE SUMMARY ( in thousands US $) |
THREE MONTHS ENDED JUNE 30 |
|
2017 |
2016 |
Change |
ORV / Snowmobiles |
845,508 |
799,332 |
+ 6 % |
Motorcycles |
197,997 |
228,392 |
-13% |
Global Adjacent Markets |
97,022 |
90,959 |
+ 7 % |
Aftermarket |
224,393 |
|
|
Total sales |
1,364,920 |
1,130,777 |
+ 21 |
Gross profit by segment ORV / Snowmobiles |
266,150 |
228,494 |
+ 16 % |
% of sales |
31.5 |
28.6 |
+ 289 bps |
Motorcycles |
21,116 |
38,915 |
-46% |
% of sales |
10.7 |
17 |
-637 bps |
Global Adjacent Markets |
21,216 |
23,952 |
-11% |
% of sales |
21.9 |
26.3 |
-447 bps |
Aftermarket |
59,918 |
|
|
% of sales |
26.7 |
|
|
Corporate |
-18,014 |
-9,840 |
|
Total gross profit |
350,386 |
284,503 |
+ 23 % |
the Victory wind-down costs of $ 8.9 million , motorcycle gross profit was $ 30.0 million , down from the second quarter last year due primarily to lower
Slingshot volume . North American consumer retail demand for the Polaris motorcycle
Continues on page 16 >>>
Polaris says “Indian motorcycle
BRIEFS unit sales increased significantly”
in the second quarter
BOOT
H
NEWS
The latest reports concerning stage
one bids received by Volkswagen
by the appointed July date for
Ducati did not, after all, include
Harley. Yay, hurrah for our side! It is
thought that by the time the
reports emerged connecting Harley
with seeking bid advice from
Goldman Sachs, the executive suite
at Juneau Avenue had already
cooled on the idea, as the full
gravitas of their way worse than
expected second quarter results
dawned on them.
On the other hand, several
bids were received by VAG
advisor Evercore – motorcycle
related and investor-led bids.
As a second stage of bidding
is set to get underway, the
Italian Benetton family and
India’s giant (and KTM
partner) Bajaj Auto are
thought to be in the holeshot.
However, their 47.96% ownership
stake in KTM, recently announced
plans to work with KTM brand
Husqvarna to take the venerable
off-roaders global and their Ducati
ambitions haven’t stopped Bajaj
Auto CEO Rajiv Bajaj from
continuing to get creative where
finding ways to spending the
conglomerate’s $13 bn cash
reserve are concerned. On August
8, they announced a non-equity tie-
up with British manufacturer
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