Victory is no more. Polaris Industries Inc, the parent company that owns Victory Motorcycles, announced that it intends to cease Victory’s operations effective immediately. The Harley-Davidson competitor, Victory has struggled to maintain its market share in recent years.
“This was an incredibly difficult decision for me. 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,” says Polaris Industries chairman and CEO Scott Wine.
According to the press release, Victory has not been profitable or successful enough to stay its execution, and with outside pressures, like growing competition, the motorcycle manufacturer wouldn’t have been able to push against the “headwinds.” It was also a decision to take Victory’s investment and funnel it into the revived Indian Motorcycles brand that Polaris recently acquired.
“This decision will improve the profitability of Polaris and our global motorcycle business, and will materially improve our competitive stance in the industry,” added Wine, “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.”
Polaris has stated that in the cessation of Victory, the company will assist dealers with eliminating their existing inventory. However, the brand will continue to supply parts and maintenance as well as warranty coverage for the next 10 years.
Victory Motorcycles began operations in 1997 with the debut of the V92C. It was designed to compete directly against Harley-Davidson. The first production motorcycle Victory ever built, started its life on the Fourth of July, in 1998.
As for lost jobs, Polaris said that the company “Remains committed to maintain its presence in the Spirit Lake, Iowa community,” for the continued production of Indian Motorcycles, and in “Huntsville, Alabama,” with Slingshot production, although it will reduce operating costs based on this decision.
“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,” said Wine.