Polaris benefits from a stacked roster. From RZR side-by-sides to Slingshots to Indian Motorcycles, a diverse mix of brands fall under the Polaris umbrella. That dream team lived up to its potential in the final window of 2022, earning the company record sales in Q4.
During that period, Polaris claimed $2.4B in sales, which equates to a 21-percent increase compared to Q4 2021. The North American market primarily drove that success with $2.1B representing 88 percent of the company’s sales. Those domestic figures also translate to a 23 percent uptick over Q4 2021’ $1.7B in sales.
International markets account for the remaining 12 percent of Polaris’ deliveries, which equals $296M in sales. The firm reports that the improving supply chain efficiency, product mix, and higher volumes positively impacted both sales and gross profit margin.
“Throughout the year, we continued to assert our position as the global leader in powersports by renewing our commitment to our core businesses, delivering rider-driven innovation, and successfully navigating a challenging environment,” proclaimed Polaris CEO Mike Speetzen. “Looking ahead, we see significant opportunity for success supported by a strong pipeline of new products and continued supply chain improvement. Although macroeconomic headwinds may persist in 2023, our team remains agile and poised to deliver industry-leading innovation that is consistent with the Polaris brand."
Within the Polaris ecosystem, Indian Motorcycle modestly contributed to the company’s Q4 2022 success. Polaris claimed that the brand’s sales growth registered in the “low-single digits percent”. Conversely, the statement goes on to note that “retail sales for the comparable motorcycle industry” shrunk in the “mid-single digits percent”. Considering Harley-Davidson's latest earning report, it’s hard to argue with that assessment.
In 2023, Polaris forecasts a 0-to-5-percent sales increase compared to 2022. Indian Motorcycle hopes its 2023 lineup, including the new FTR Sport variant, positively impacts those predictions in the new year.