HOG - Polaris Industries Offers 1 Surprise Amid a Gloomy Q1 Report
Diversity of product across seasons has often served Polaris Industries (NYSE: PII) well, but amid the coronavirus pandemic where much of the economy has been locked down, not even a broad selection of powersports vehicles could stem the decline in the first quarter.
Yet Polaris did report one surprising development: Motorcycle sales rose 7% for the period as both Indian Motorcycles and the three-wheeled Slingshot saw gains. Considering that Harley-Davidson (NYSE: HOG) just reported that its U.S. sales plunged 15.5% and tumbled over 50% in international markets, Polaris's ability to notch growth was remarkable.
Motorcycles proved to be the one bright spot for the vehicle maker. Image source: Polaris Industries.