After a year of success with its revived lineup of Indian Motorcycles, Polaris Industries is rolling into this weekend’s huge motorcycle rally in Sturgis, S.Dakota, with strong momentum and at least one more surprise in store.
It’s been a year since Indian unveiled three new models at Sturgis in a bid to challenge market leader Harley-Davidson. This week, it added a fourth, the $26,999 Roadmaster, a new luxury touring bike that will serve as the brand’s flagship. On Saturday, a fifth model will be unveiled, according to a teaser image on the Indian Motorcycles’ website, which shows the 2015 lineup of five bikes, with one still concealed in a wooden crate and the words “not done yet” and “8-2-2014″ written on the sides.
Polaris, which acquired the Indian brand after others tried and failed to resurrect it, is saying little about the new bike in order to keep the suspense going. But it’s already been an exciting year for theMedina, Minn.-based maker of snowmobiles, ATVs and motorcycles. Revenues are up 20 percent so far this year — 79 percent for motorcycles, thanks to the new Indian line — and net income is up 14 percent. Citing new confidence, Polaris last week raised its 2014 forecast, saying profits will be up about 21 percent for the year, a marked contrast to Harley-Davidson , which said shipments are slowing. Polaris shares are up 20 percent in the past six months, to $150 a share.
“Between strong demand for our existing offerings and our industry leading product innovation, we believe sales and earnings will continue to accelerate in the second half of the year, ” said Polaris chief executive Scott Wine.
Motorcycles are a growing segment for Polaris, which in addition to Indian, also owns Victory motorcycles. By 2018, its goal is to achieve more than $1 billion in motorcycle sales, up from $100 million in 2009. “We’re a little less than halfway there,” said Steve Menneto, Polaris’ vice president of motorcycles.
Just this week, the company introduced a daring new street machine called the Slingshot. It’s a three-wheeled, two-seat, open-air roadster that rides just five inches off the ground. Though it looks like a hot rod, it’s categorized as a motorcycle. (You’ll need a motorcycle license and a helmet in states where they’re required.) There are no airbags and the Slingshot didn’t have to comply with the usual crash safety standards for autos.
With two wheels in front and one in back, the low-slung Slingshot is powered by a 173-hp General Motorsengine mated to a five-speed manual transmission. Two passengers can ride side-by-side, differentiating the Slingshot from other three-wheelers like the Can-Am Spyder fromBombardier Recreational Products and Harley-Davidson’s Tri-Glide. Starting at $19,999, it does have some automotive safety features like stability control and antilock brakes. The $23,999 SL version adds a wind screen, larger wheels, and entertainment system, with Bluetooth connectivity and a backup camera.
Forbes contributor Jason Fogelson was one of the first to ride the Slingshot and describes it as a thrilling, yet potentially dangerous toy. “This is a very risky vehicle to ride, just like any other motorcycle. It’s low enough that it could go unnoticed by larger vehicles in certain situations; and it is definitely fast enough to cause some real damage to its riders in an accident. If you’re willing to assume the risk, manage it carefully and a thrilling ride could be ahead of you.”
At the other end of the spectrum is the resurrected Indian Roadmaster, a two-seat touring bike aimed at older riders, emphasizing comfort and luxury for long trips. The original Roadmaster touring bike, built from 1947 to 1953, dominated its class in the post-World War II era. Indian’s new owner kept many of those classic design cues but added modern motorcycle technology — just as it did with the first three bikes in the lineup, the 2014 Chieftain, Chief Vintage and Chief Classic.
The Roadmaster uses the same 111 cubic inch Thunderstroke engine in those bikes, and is loaded with extra features, like anti-lock brakes, keyless ignition, electronic cruise control, a tire pressure monitoring system, and a state of the art “infotainment” system for music, navigation and phone. It’s equipped with two hard side bags and a large trunk bag — enough for 38 gallons of weatherproof storage — plus heated seats, and heated grips. The Roadmaster goes on sale in September for $26,999 — about $12,000 less than a comparable Harley CVO Limited, according to Polaris’ vice president of motorcycles, Steve Menneto.
Customers will get their first look at the Roadmaster and the rest of Indian’s 2015 lineup this weekend in Sturgis. And they’ll finally find out what’s under that crate.
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