Category Archives: Sales figures

KYMCO UTVs Recalled For Fire Hazard

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KYMCO USA, in cooperation with the Consumer Product Safety Commission (CPSC), is recalling nearly 1,900 UTVs produced from 2009 to 2012.  The vehicles are being recalled because “…an exposed portion of the exhaust system can allow debris such as leaves, brush or other flammable materials to enter the opening and ignite, posing a fire hazard.”  While there have been three reports of fires, no injuries have been reported.  Models involved in the recall include the UXV 500, 500 LE, and 500 SE and the UXVi 500, 500 LE, and 500 SE.  Check the following link for specific VINs involved.  KYMCO dealers will be installing repair kits for free.  Learn more:  CPSC.gov

E-Z-GO Recall

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The U.S. Consumer Product Safety Commission in cooperation with E-Z-GO today announced a voluntary recall of nearly 22,000 vehicles which were sold in the first half of 2011 under a number of brands including TXT golf cars, Cushman shuttle vehicles and Bad Boy off-road utility vehicles.  The cause is a defective rack rod ball joint in which “…the threaded end of the rack rod ball joint can break and the ball joint can become displaced, causing the driver to lose steering control.”  According to the CPSC consumers should stop using recalled products immediately unless otherwise instructed and contact E-Z-GO or an authorized dealer for a free repair. E-Z-GO and E-Z-GO dealers are contacting known owners. E-Z-GO can be contacted at (800) 774-3946 or visit www.ezgo.com.  For specific vehicle models and serial numbers involved in the recall visit the CPSC  website.  Learn more:  CPSC.gov

NY Times Runs Side-by-Side Safety Story

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Today the New York Times published a front page story on side-by-sides, focusing mainly on their safety. The title, “An A.T.V. With Extra Room, and Maybe More Risks, Too“, is a little misleading given that the statistics they present in the story imply that they are less dangerous than ATVs. The story also covers the decline of ATVs, some of the factors driving consumers to switch to side-by-sides and the current efforts by federal regulators to create new mandatory safety standards.  These standards may push vehicles to be wider and lower which could negatively effect their trail-riding ability.  Learn more:  NYTimes.com

Polaris Reports Record Results In 3Q

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Polaris Industries continues exhibiting strong growth in a down economy, increasing sales 26% in the 3Q to reach $729.9 million and increasing net income to $67.6 million from 47.2 million year over year.  Year to date sales increased 37% to compared to last year.  Management expects full year sales to increase 32% over 2010 figures to reach over $2.5 billion.  Gains were made in a number of areas including net income, earnings per share, margins and in overseas markets, including the sluggish European market.

The Off-road division grew 25% for the quarter and 38% year to date based on gains in side-by-sides, military and international markets.  Side-by-sides business increased over 20% in the quarter for Polaris compared to “low double digits” for the North American market as a whole.  The ATV market continues to decline but Polaris is still gaining market share.  Management also reports continuing success in penetrating commercial and rental markets through their partnership with Bobcat.

Learn more:  Seekingalpha.com (conference call transcript)

Cycle Country Accessories Reports Losses

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In late August Cycle Country Accessories, a designer and manufacturer of aftermarket products for ATVs and utility vehicles, reported a net loss of $431,191 for the three months ending June 30, compared to $583,541 in the same quarter a year ago.  For nine months ending June 30, sales were $7.7 million and net loss $2.1 million vs. sales of $7.9 million and a $0.6 million loss the previous year.  The company makes products such as snowplow blades, lawnmowers, spreaders, sprayers, tillage equipment, winch mounts, and utility boxes.  Learn more:  Siouxcityjournal.com

Artic Cat Reports Fiscal 1st Quarter Results

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Arctic Cat reported that net sales increased 18 percent to $74.9 million in the fiscal 2012 first quarter ended June 30, 2011, up from net sales of $63.4 million in the prior-year first quarter. The company’s first quarter net loss improved to $2.3 million versus a net loss of $4.5 million. Arctic Cat typically reports a first quarter loss because most of its revenue is seasonal, occurring in their fiscal 2nd and 3rd quarters. Management reported that “Revenue grew across all product lines, with particularly strong sales of our Prowler side-by-side utility vehicles contributing to the quarter’s results.”  Management also raised their guidance for full year sales to $520 to $530 million or a 12-14% increase over 2011.  The increase is expected to be driven in part by the launch of their new sport utility vehicle the Wildcat.  Learn more:  Marketwatch.com

Polaris Reports Record 2Q Earnings

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Polaris reported record 2Q earnings driven by growth across product lines and geographic areas with North American sales increasing 43% and International sales increasing 35%.  Management now expects full year sales growth to be in the 25% to 28% range.

Off-road vehicle sales which includes ATVs and UTVs were $482 million for the quarter and $870 million for the first six months of 2011 compared to $342 and $592 million for 2010 respectively.  These figures represent 41% year to year quarterly growth and 47% year to year six month growth.  Management reports gaining market share in both the ATV and side-by-side market segments in North America with ATV sales up less than 10% for the quarter.  Side-by-side sales were not specified but likely increased by over 20% for the quarter.  Off-road military, Bobcat related sales and international sales all increased for the quarter, the latter by 35%.  Learn more:  Marketwatch.com

Frost & Sullivan Asia Pacific NEV Report

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A new report from Frost & Sullivan, Strategic Analysis of Asia Pacific Market for Neighborhood Electric , projects that China and India will be the leading sources for NEVs in 2016, accounting for over 50% of global production.  The market is currently dominated by Chinese and other Asian Pacific OEMs who largely export the vehicles to the US and Europe. According to the report, production of NEVs from the region is expected to grow to 116,900 units in 2016, representing a compounded annual growth rate of 39% since 2009.  Learn more:  Newswiretoday.com

California Clean Vehicle Rebate Project Exhausts Funds

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The Clean Vehicle Rebate Project operated by the California Air Resources Board (CARB) has exhausted the funding for zero emission vehicle rebates.  Over 27 months the project doled out over $11 million for rebates on close to 2,000 vehicles.  The rebates ranged from $1,500 to $5,000 depending on the type of zero emission vehicle eligible – ranging from an electric motorcycle or NEV to highway capable passenger cars.  CARB is proposing an expansion of the program by increasing funding to $15 million for 2011-12 and cutting the maximum rebate in half to $2,500 to allow a greater number of rebates.

According to the project website, the project has provided rebates for 38 NEVs, 45 zero emission motorcycles and about 1,900 zero emission passenger and commercial vehicles. Learn more:  LATimesblogs.latimes.com

Worldwide Forecast For NEVs

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Worldwide NEV Market

Worldwide NEV Market Forecast

Pike Research predicts that the number of NEVs on the road worldwide will grow from 479,000 in 2011 to 695,000 by 2017.  This represents a 45% increase in total over the trend period and a compounded annual growth rate of 6.6%.  North America will remain the largest NEV market with the Asia Pacific region the second largest.  During that period, annual NEV sales will rise from 37,000 vehicles to nearly 55,000 units by 2017 with the North American market accounting for 45% of sales or approximately 25,000 units in 2017. Fleet sales are predicted to remain the leading market for NEVs. The report had to take into account some of the different definitions or lack thereof for neighborhood electric vehicles across regions and countries.  Learn more:  Greencarcongress.com