Victory Motorcycles to cease production
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Victory Motorcycles has announced it will cease production and all brand related operations effective immediately.
The American manufacturer is best known for making cruiser-styled motorcycles; the brand has operated for 18 years under parent company Polaris Industries – who also own Indian Motorcycles and three-wheeled motorcycle brand Slingshot.
In a statement issued by the company they admit ‘Victory has struggled to establish the market share needed to succeed and be profitable.’
“This was an incredibly difficult decision for me, my team and the Polaris Board of Directors,” said Polaris Industries Chairman and CEO Scott Wine.
“Over the past 18 years, we have invested not only resources, but our hearts and souls, into forging the Victory Motorcycles brand, and we are exceptionally proud of what our team has accomplished.”
Sales for Victory peaked in 2012, but steadily declined in the years following. In 2015, Victory accounted for only 3 per cent of Polaris sales, with retailers only able to sell about 20 units per year. This all meant that Polaris lost money with the Victory brand in three of the last five years (2011-2015).
In its lifespan, Victory produced nearly 60 models, with their first production model released on the fourth of July, 1998.
Despite the closure of Victory Motorcycles, Polaris Industries looks to re-focus future cruiser-styled motorcycle operations with the Indian motorcycles brand which it acquired back in 2011.
“Our focus is on profitable growth, and in an environment of finite resources, this move allows us to optimize and align our resources behind both our premium, high performing Indian Motorcycle brand and our innovative Slingshot brand, enhancing our focus on accelerating the success of those brands.”
“Ultimately this decision will propel the industry-leading product innovation that is core to our strategy while fostering long-term growth and increased shareholder value.”
Polaris has promised assistance to current Victory dealers to liquidate their remaining stock, and made a commitment to supply parts, service and warranty coverage to Victory dealers and owners for a period of 10 years.