FI showroom red and grey logo
MenuMENU
SearchSEARCH

Polaris Reports a 2Q Decline Sales and Income

Polaris Industries Inc. today reported net income of $17.5 million for the second quarter ended June 30, 2009, down from the $24.4 million reported in the year-ago period.

by Staff
July 16, 2009
2 min to read


MINNEAPOLIS — Polaris Industries Inc. today reported net income of $17.5 million for the second quarter ended June 30, 2009, down from the $24.4 million reported in the year-ago period.

Sales for the second quarter 2009 totaled $345.9 million, a decrease of 24 percent from second quarter 2008 sales of $455.7 million.

Ad Loading...

Polaris reported double-digit declines in sales of off-road vehicles, Victory motorcycles and parts, garments and accessories. However, sales of snowmobiles increased 23 percent in the second quarter, and grew one percent in year-over-year results.

The company said that availability of retail credit financing sources remains at acceptable levels given the continued uncertain credit markets. Polaris has relationships with HSBC Bank, GE Money Bank and Sheffield Financial to provide retail revolving and installment financing credit to United States consumers.

During the second quarter 2009, 48 percent of consumer retail credit loan applications from Polaris customers were approved by HSBC, GE or Sheffield , improved from the first quarter 2009 approval rate of 44 percent. Additionally, 33 percent of Polaris’ retail customers in the United States financed their Polaris product purchases through HSBC, GE or Sheffield , which is slightly better than the first quarter 2009 penetration rate. Although the availability of retail credit alternatives to consumers remains challenging, the Company believes that retail credit will continue to be accessible for Polaris consumers with an acceptable credit history.

Income from financial services decreased 24 percent to $4.0 million during the second quarter, down from $5.2 million reported in the year-ago period. The decrease was primarily due to lower income generated from retail credit activity resulting from lower penetration levels in 2009.

More Auto Finance

A fan of $100 bills sitting on a white envelope
Auto Financeby Hannah MitchellAugust 12, 2026

July Was Hot for Auto Borrowers

Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.

Read More →
stacks of coins, a calculator, paperwork, and a pair of glasses in the background, text Lender Experience Drives Dealer Decisions, F&I and Showroom
Auto Financeby Lauren LawrenceAugust 12, 2026

Dealer Lender Preferences Revealed

When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.

Read More →
man sitting at desk using a calculator
Auto Financeby Lauren LawrenceAugust 10, 2026

Auto Refi Savings Surge

Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.

Read More →
Ad Loading...
Tiny toy car in front of small stacks of coins
Auto Financeby Hannah MitchellAugust 5, 2026

Subaru Enters Lending Business

The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.

Read More →
Man climbing ladder in front of mountain landscape.
Auto Financeby Lauren LawrenceAugust 3, 2026

Positive Equity Reaches Record High

Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.

Read More →
Photo of document next to calculator and inkpen
Auto FinanceJuly 20, 2026

Dealerships Are Paying the Price for Extended Car Loans

Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.

Read More →
Ad Loading...
silver car in background with hand in front holding out a set of keys, Trade-In Trouble, F&I and Showroom
Auto Financeby Lauren LawrenceJuly 20, 2026

Trade-Ins in Negative Equity Reach New Heights

As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.

Read More →
Two men in suit jackets shaking hands in front of a new-looking white vehicle
Auto Financeby Hannah MitchellJuly 15, 2026

Auto Credit Plentiful

June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.

Read More →
Woman's hands holding an wallet empty of cash
Auto Financeby Hannah MitchellJuly 1, 2026

Automotive Consumers Sink Further in Debt

Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.

Read More →
Ad Loading...
Three men smiling for headshots
Auto Financeby Lauren LawrenceJuly 1, 2026

Porsche Financial Services Shifts Structure

After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.

Read More →