Registration Data Shows Continued Polaris UTV Growth

Comments from BMO Capital Markets analyst Gerrick Johnson and Polk registration data for UTVs indicate a strong September for the UTV market and Polaris outperforming the market.  The data shows UTV registrations increased 19.1% for the industry and 21.6% for Polaris.  (The story does not specify but it is assumed that comparisons are for the same time periods from the prior year.) Dealer interviews point to a strong showing for Polaris’s Ranger XP 900 and the Ranger 800 mid-size UTVs.  The analyst predicts 18% growth for the company’s ATV and UTV sales in the 4Q, which translates into growth of over 20% for the UTV segment based on recent sales patterns.  Growth is being driven by replacement demand, new riders and share starting to being taken from Jeeps, pick-ups and SUVs.  It is unclear from the article if the latter is specifically referring to the recreational end of the UTV market or from  the market in general.  If it is the general market, this is not a new trend, as municipalities, universities and the like have been replacing pickups with UTVs and other STOVs for a number of years.  We believe this is one of the reasons why UTVs continued to have strong growth despite the recession.  For both fiscal reasons and to meet ‘green’ or sustainability goals institutions have been replacing pick-ups with gas or electric powered UTVs and other STOVs.  Learn more:

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