Sales for Polaris in Q3 of 2020 increased 10 percent when compared to the same quarter in 2019. In the motorcycle segment alone—meaning Indian Motorcycle and Polaris Slingshot—sales are up 11 percent for the quarter when compared with Q3 of 2019. It’s worth noting that gear and accessories related to Indian and Slingshot are included in that number as well.
Overall, though things are looking good for the company during a very tough year for everyone. Polaris is managing to make the most of 2020 despite seeing sales drop in previous quarters of the year.
“I am extremely proud of the diligent and efficient efforts of our team to mitigate these [COVID-19-related] supplier disruptions and drive a three-year high in quarterly gross profit margins,” said CEO Scott Wine.
“Demand has remained strong to start the fourth quarter and we expect our sales and earnings momentum to continue for the rest of the year. This pushes our expectations for overall company performance to exceed our pre-COVID-19 targets for 2020, demonstrating our confidence in the team to accelerate production as we manage through continued challenges.”
This bodes well for Polaris in Q4 of 2020. I would expect the company to continue to see strong sales unless something catastrophic happens. While, ordinarily, I’d say there’s little chance of that, this is 2020 and anything is possible.