The second quarter of 2020 seems to have treated all OEMs roughly.
Polaris released its 2020 Q2 financial report on July 28, 2020. Like other OEMs, 2020 has so far not been the greatest year for the company. Then again, the motorcycle industry is hardly alone in that assessment, as most companies across a wide swath of industries have felt some kind of pain during the past half-year.
Still, as seemed to be the case with its 2020 Q1 results, Polaris—including Indian Motorcycle—saw a sales decrease, but it’s still not hemorrhaging. Polaris sales overall decreased by 15 percent year-on-year, going from Q2 overall sales of $1,779.3 million in 2019 to $1,511.8 million for the same period in 2020.
Motorcycle sales in dollars—and remember, Polaris groups both the Indian Motorcycles and Slingshot brands together within this category—are down 28 percent, having only sold $141.3 million in Q2 of 2020, as compared to $196.8 million for the same period in 2019. Of all Polaris vehicle segments, the one that came out the best for Q2 of 2020 was Off-Road Vehicles and Snowmobiles, which was only down 15 percent compared with last year. It’s also worth noting that Polaris does not provide actual numbers of units sold anywhere in this report, only dollar amounts.
Regarding this motorcycle figure, the report mentions decreased sales across both Indian Motorcycle and Slingshot, and does not call out either as being any type of particular in-segment albatross. As with other OEMs, Polaris cites the impact of COVID-19-related suspension production for its part in these results.
While Polaris unfortunately does not further break down its motorcycle segment sales numbers by individual markets, the company reported one slight tinge of silver lining. Across North American sales, Indian Motorcycle “increased mid-teens percent” during Q2 of 2020. Meanwhile, across the entire motorcycle category, North American sales for the same period “increased low-twenties percent” for Polaris. Since overall motorcycle sales across all OEMs in North America were down over the same period, the news could certainly be worse.
This report also puts Polaris right in line with other OEMs that have reported 2020 Q2 results so far. Pierer Mobility (KTM, Husqvarna, and GasGas) reported a result that was down 33 percent year-on-year, while Harley-Davidson is down 23 percent and Piaggio is down 24.5 percent. While it’s certainly not great news for Polaris, the company is also not an outlier within the industry.