Polaris Industries' Victory Motorcycles Ready to Roll
10 July 1998
Polaris Industries' Victory Motorcycles Ready to Roll
SPIRIT LAKE, Iowa--July 9, 1998--Polaris announces production of its first Victory motorcycles
Already named "Best Cruiser of 1998," Victory is the first
all-new, American-made heavyweight cruiser available in
60 years
The roar of Victory will soon be heard rumbling through streets across America. Polaris Industries Inc. today announced the production of its first Victory motorcycles. The all-new heavyweight cruisers will roll into showrooms and take to the roads just over one year after Polaris unveiled the prototype and only five years after first deciding to enter the motorcycle market.
Already named "Best Cruiser of 1998" by Cycle World, North America's largest motorcycle magazine, the 1999 Victory V92C is the first significant motorcycle widely distributed by a new American motorcycle manufacturer in 60 years. Polaris is already recognized as a world leader in snowmobile, all-terrain vehicle and personal watercraft production.
Polaris expects to produce 2,000 to 3,000 bikes by the end of 1998 -- nearly all of which have been pre-sold at retail -- and plans to increase production significantly in 1999. Victory motorcycles, with a suggested retail price of $12,995, will begin appearing in showrooms over the next few weeks. Currently, the motorcycle is being sold through a network of 200 Victory dealers in the U.S., and worldwide distribution will follow.
"The production of our first motorcycles represents a victory for all the people at Polaris who've worked hard the last five years to make the bike a reality," said W. Hall Wendel, Jr., chairman and chief executive officer of Minnesota-based Polaris Industries Inc. "Victory is for motorcyclists who want a great-looking, great-sounding, made-in-the-USA bike that's just a lot of fun to ride."
The first in what Polaris plans to be a complete Victory line, the V92C heavyweight cruiser features electronic fuel injection, oil cooling, sophisticated headlight-mounted instrumentation and advanced suspension. Designed with classic aviation, automotive and motorcycle styling, the bike, available in Antares red or Knock Your Socks Off blue, looks like no other cruiser on the market. And, it has, at 92 cubic inches (1507 cc), the largest V-twin engine available.
To recognize the significance of the Victory's entrance into the motorcycle market, Polaris will number each of the first 1500 bikes with a plate fastened to the handlebar clamp. Victory no.1 will be kept by the company as a piece of their history.
"Introducing an all-new, American-made motorcycle is a pretty significant event," said Matt Parks, general manager, Victory Motorcycle Division, Polaris Industries Inc. "Since we began talking about creating the Victory, we've received a lot of calls from enthusiasts wondering how they can get their hands on one of the first bikes. This led to the idea of commemorating the first 1500 with the numbered plates."
In addition to the "Best Cruiser of 1998" award given by Cycle World as part of their annual "Ten Best Bikes" awards, Victory already has received critical acclaim from a variety of industry publications. Over the next few years, Polaris plans to offer motorcycles across the entire cruiser segment and eventually bikes across all segments.
Engines for the motorcycle are built at the Polaris engine plant in Osceola, Wis. and final assembly takes place at the company's Spirit Lake, Iowa plant. For more information on how to order a Victory or where to find a Victory dealer, please check out the Victory Web site at www.victory-usa.com or call 1-800-POLARIS.
Polaris designs, engineers, manufactures and markets snowmobiles, all-terrain vehicles, motorcycles, personal watercraft and the Polaris Ranger for recreational and utility use. Polaris is the largest snowmobile manufacturer in the world, and one of the largest U.S. manufacturers of all-terrain-vehicles and personal watercraft. Polaris Industries Inc. trades on the New York Stock Exchange and Pacific Stock Exchange under the symbol "PII," and the company is included in the S&P SmallCap 600 stock price index.
This announcement contains forward-looking statements regarding estimated production volumes of Victory motorcycles in 1998 and 1999, and future growth of the Victory line intended to qualify for the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to the risks and uncertainties inherent in any new product offering, including manufacturing and marketing a new product line, market demand and the responsive pricing and product offering strategies of competitors. These risks and uncertainties could cause actual production volumes and expansion of the Victory product line to differ from the forward-looking statements in this announcement.
