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Polaris roars into 50th year on new wheels
Dee Depass, Star Tribune
July 24, 2004 POLARIS0724
Fifty-year-old Polaris Industries kicked off its $2.7 million anniversary celebration Friday by taking over the Minnesota State Fairgrounds and unleashing a dozen new dirt-churning vehicles that are expected to help double sales in five years.
"In just the next 12 months we should expect $200 million in incremental growth from all the new products," said CEO Tom Tiller while wheeling around the fairgrounds in the company's latest three-seater Ranger ATV.
The anniversary event -- the biggest "in the 50-year history of the company," Tiller said -- is open to the public today.
On Friday, the company introduced six all-terrain vehicles (ATVs), three motorcycles, three quadracycles aimed at European buyers and a souped-up three-wheeler prototype.
Polaris CEO Tom TillerBruce BispingStar TribuneThe new vehicles mean that "62 percent of our product line is new," Tiller said.
The products are the result of $83 million in R&D investments over the past 18 months.
More than 2,000 U.S. dealers and 600 foreign dealers were on hand Friday to kick tires, peel around obstacle courses and place orders.
Polaris, which ended 2003 with $1.6 billion in sales, expects to end this year with $1.8 billion, with help from the new products.
"I just came in from riding the [new] four-wheeler. Those things are tougher than woodpecker lips," said Gene Anderson, a dealer from Baytown, Texas.
Victory motorcyclesBruce BispingStar TribuneTiller said the Sportsman 800 ATV that Anderson was riding has the largest engine in the industry, greater horsepower and the ability to easily lock on accessories such as windshields and cargo boxes.
Polaris also unveiled its new civilian version of a military vehicle, and a sinister-looking Predator sports ATV.
The company introduced a "quadracycle" ATV that for the first time is suitable for use on roads in Europe and the United States.
The product is expected to be a big draw in Europe, where consumers will use it to ride trails, commute to work, grab groceries or simply navigate the narrow roads and tiny garages for which England and France are well known, said Polaris International head Mike Dougherty.
Polaris still flying after 50 years.Bruce BispingStar TribuneATVs, Polaris' largest product line with $1.04 billion in 2003 sales, have seen steady growth in recent years despite the slow economy.
While ATVs might be the biggest seller, motorcycle enthusiasts said Polaris has greatly expanded its chances of being a long-term player in the industry, unlike predecessors such as the defunct Excel Henderson.
In comparison, Polaris, which introduced its first Victory motorcycle six years ago, "has turned a corner big time," said dealers Janis and Steve Bozett from Marietta, Ohio.
New SportsmanBruce BispiungStar Tribune"People used to come in and ask, "What's a Victory?' And we would have to say, 'Well you have heard of Polaris?' and 'It's part of that company.' But now you don't have to do that anymore," Janis Bozett said.
"They know Victory. It's arrived." Even with the tough economy, her Victory sales jumped 8 percent last year, she said.
To ensure its chances of success, Polaris entered the low-cost motorcycle market for the first time this week.
Its sleek Victory 8-Ball bike sells for $12,999, unlike its new $20,000 limited edition bikes that bear the signature of race car greats Arlen and Cory Ness.
3-seat RangerBruce BispiungStar TribuneThe 8-Ball will "get the younger crowd in to our showroom because they don't have the money to buy an $18,000 bike," said Janis Bozett, noting that she and Steve just ordered five 8-Balls.
Paris dealer Philippe Thiebault agreed about the price.
His car dealership just began selling Polaris ATVs and motorcycles three months ago.
The new line and lower prices should help increase interest he said.
The company also created the Victory Hammer, a power cruiser aimed as an alternative to Harley Davidsons.
3-wheeler prototypeBruce BispiungStar Tribune"The Hammer is going to be a big seller. It's more sporty. It's got the big tire in the back and a six-speed overdrive. It should get the attention of the sports crowd," Steve Bozett said.
Victory General Manager Mark Blackwell said he expects total motorcycle sales to grow 45 percent this year, adding that the 8-Ball bike alone "should help grow their sales by 15 to 20 percent."
The Victory line grew 70 percent in 2003 to $57 million and should exceed $82 million in sales next year, officials said.
Victory HammerBruce BispiungStar TribuneThe division is the fastest growing within Polaris, and sales are soon expected to outstrip the company's personal watercraft sales, analysts said.
Dee DePass is at
ddepass@startribune.com.
Polaris historical museumBruce BispiungStar Tribune
50th anniversary snowmobileBruce BispiungStar Tribune
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