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4-Traders Homepage  >  Equities  >  Nyse  >  Polaris Industries Inc.    PII

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Polaris Industries Inc. : 2009-2013 Kings Mountain Designed Indian Motorcycles Subject to Rear Rim Safety Recall

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08/30/2013 | 10:00pm CEST

Indian Motorcycle® today announced that some legacy generation, Kings Mountain-era Indian® motorcycles of model years 2009-2013 have a defect related to motor vehicle safety. The affected motorcycles -- produced between December 10, 2008 and November 1, 2012 and designed by the previous owner of Indian Motorcycle, housed in Kings Mountain, North Carolina-- may have been assembled using a defective rear wheel rim. The rim may crack and cause a loss of air pressure. This could cause the vehicle operator to lose control, increasing the risk of a vehicle crash. The recall does not impact the newly launched 2014 Indian® Chief® motorcycles unveiled by Polaris Industries Inc. in Sturgis, South Dakota on August 3.

Indian Motorcycle has notified the National Highway Traffic Safety Administration (NHTSA) about this issue and will provide notice to all registered owners of the affected Kings Mountain Indian motorcycles consistent with NHTSA regulations. Indian Motorcycle will also issue a Safety Recall Bulletin to all Indian Motorcycle dealers with instructions required to replace the affected rear wheel assembly. Repairs will be made by any authorized Indian Motorcycle dealer at no cost to owners of the subject motorcycles. The company will notify affected customers when replacement parts are available.

Consumers affected by today's announcement should visually inspect the rear motorcycle rim for cracks and check tire pressure prior to riding the motorcycle. If any cracks are found, the motorcycle should not be ridden until the rim is replaced. Affected consumers are also encouraged to contact their nearest dealer to schedule an appointment for the bulletin repair service when parts become available. Additional information is available by visiting www.indianmotorcycle.com or by contacting Indian Motorcycle Consumer Service Department at (877) 204-3697.

The new Indian Motorcycle company recently announced the availability of its model year 2014 Indian Chief motorcycles, which are assembled in Spirit Lake, Iowa. These all-new 2014 models have been completely redesigned and are wholly unaffected by today's announcement. Indian Motorcycle and parent company Polaris Industries Inc. are fully committed to rider safety and customer satisfaction.

ABOUT INDIAN MOTORCYCLE®

Indian Motorcycle, a wholly-owned subsidiary of Polaris Industries Inc. (NYSE: PII), is America's first motorcycle company. Founded in 1901, Indian Motorcycle has won the hearts of motorcyclists around the world and earned distinction as one of America's most legendary and iconic brands through unrivaled racing dominance, engineering prowess and countless innovations and industry firsts. Today that heritage and passion is reignited under new brand stewardship. To learn more, please visit www.indianmotorcycle.com.

ABOUT POLARIS® INDUSTRIES

Polaris is a recognized leader in the powersports industry with annual 2012 sales of $3.2 billion. Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles, including all-terrain vehicles (ATVs) and the Polaris RANGER® and RZR® side-by-side vehicles, snowmobiles, motorcycles and small vehicles.

Polaris is among the global sales leaders for both snowmobiles and off-road vehicles and has established a presence in the heavyweight cruiser and touring motorcycle market with the Victory and Indian Motorcycle brands. Additionally, Polaris continues to invest in the global on-road small vehicle industry with Global Electric Motorcars (GEM), Goupil Industrie SA, Aixam Mega S.A.S., and internally developed vehicles. Polaris enhances the riding experience with a complete line of Polaris and KLIM branded apparel and Polaris accessories and parts.

Polaris Industries Inc. trades on the New York Stock Exchange under the symbol "PII", and the Company is included in the S&P Mid-Cap 400 stock price index.

Information about the complete line of Polaris products, apparel and vehicle accessories are available from authorized Polaris dealers or anytime at www.polaris.com.

For Indian Motorcycle
Megan Kathman, 646-661-1524
Skyya Communications
[email protected]
www.skyya.com


© Business Wire 2013
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Financials ($)
Sales 2017 5 056 M
EBIT 2017 454 M
Net income 2017 273 M
Debt 2017 1 118 M
Yield 2017 2,74%
P/E ratio 2017 18,85
P/E ratio 2018 15,77
EV / Sales 2017 1,24x
EV / Sales 2018 1,09x
Capitalization 5 152 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 85,8 $
Spread / Average Target 4,8%
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NameTitle
Scott W. Wine Chairman & Chief Executive Officer
Michael T. Speetzen Chief Financial Officer & Executive VP-Finance
Steven J. Kemp Chief Technical Officer & Vice President
Matthew J. Emmerich Chief Information Officer & Vice President
Annette K. Clayton Independent Director
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