Harley-Davidson and Polaris on the up
Both announce big increases in net profit for the first three quarters of 2011, amidst an international economy which still remains quite deflatedHarley-Davidson Inc. has posted a 95.9 per cent rise in profit to $183.6 million in the third quarter of 2011, up from $93.7 million in the same quarter a year ago.
Total revenue rose 11 per cent to $1.40 billion – higher than the consensus estimate -- driven by the rise in motorcycle and related products revenues.
For motorcycles alone, revenue rose 15.5 per cent to $922.3 million as shipments of motorcycles increased to 61,745 units from 53,293 units in the third quarter of 2010.
Harley’s worldwide dealer retail sales of new motorcycles grew 5.1 per cent to 61,838 units. In America, that retail figure alone was 42,640 units, while international were 19,198.
Meanwhile, Polaris’s operational strategies also appear to be bearing fruit, with the group – which also includes Victory Motorcycles – announcing a record third quarter net income of $67.6 million, which translates to a 43 per cent improvement on 2010.
Sales for the third quarter 2011 totalled $729.9 million, an increase of 26 per cent from last year.
The motorcycle group’s sales totalled $35.7 million, 77 per cent higher than the same period in 2010, primarily due to Victory motorcycle sales increases.
In fact, sales of Victory Motorcycles outside North America grew by 74 per cent compared to the prior year’s third quarter, with Australia a part of that mix.
Locally, Victory is in the final stages of gaining approval to open a third Australian company-owned store in Brisbane.
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