As part of its “2025 Capital Markets Day” presentation on March 13, Polaris provided an overview of the powersports industry and presented the company’s long-term strategy to remain the global leader in powersports. Proclaiming Polaris has the “unwavering support of dealers” and complete confidence in our mid-cycle financial targets” top brass also discussed its commitment to innovation, customers and dealers, as well as progress on its operating efficiency strategy.
“The actions we are taking today give me confidence we will emerge stronger when the powersports market returns to growth,” claimed Mike Speetzen, Polaris Chief Executive Officer. “Our teams are focused in the right areas to not only continue our leadership in powersports, but to also improve the financial strength of Polaris, which I believe will ultimately lead to creating shareholder value.”
Speetzen did concede there has been “a prolonged downcycle in powersports” including four consecutive quarters of contraction in the off-road sector; contraction of its on-road industry offerings six of the last seven quarters; and consistent decline in the marine industry over the last eight quarters. Using terms like dealer caution and “Inventory destocking,” category exits, financial distress at multiple OEMs and EV adoption for short of expectations, to describe the current market, Speetzen countered with a couple of key points:
1.1 million new customers since pre-COVID
Lowest Warranty Claim Rate in 10 years
10% Increase in ORV Ridership vs. pre-COVID
The long-term growth will come from winning with the dealers. This started with investing in both front- and back-end Dealer Operations, including training 7,500 Dealer Techs. “Polaris has a proactive partnership and the tools to drive retail and Dealer Profitability… we have the #1 Sales Team and the #1 Service Team,” concluded Speetzen. “Strength through the cycle allows greater investment in dealer success.”
