We entered the personal watercraft market in 1992 and now rank fourth in worldwide market share. We cover all market segments, including touring, performance and racing, with 2-, 3- and the industrys first 4-passenger models.
PRIMARY COMPETITORS:
1998 OVERVIEW Worldwide industry retail sales declined 24 percent to approximately 160,000 units for the season ended September 30, 1998. The decrease reflects continued uncertainty about potential regulatory and legislative limits on PWC use. As a result, Polaris sales of $50 million were down 31 percent from 1997. We accomplished our primary goal for 1998: to clean out the dealer pipeline. Season-ending inventories were less than 2 units per dealer. HIGHLIGHTS OF THE YEAR:
OUTLOOK The industry is still in transition, so we expect 1999 industrywide sales to again be lower than 1998. As happened previously with both snowmobiles and ATVs, we believe industry sales growth will resume, although at a more modest rate, once the regulatory and legislative issues have been clarified. We are seeing a trend toward cleaner, quieter and more stable watercraft and an evolution to a more enthusiast, repeat-buyer market. With this new generation of PWC emerging, we feel we are properly positioned to resume growth with our new Genesis model. Forward-looking statements made herein contain certain important factors that could cause results to differ materially from those anticipated. See Managements Discussion and Analysis of Financial Condition and Results of Operation. |
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© 1999 Polaris Industries Inc. |