Polaris Industries is shutting down Victory Motorcycles, ceasing production immediately and winding down the company over the next 18 months.
Polaris will assist dealers in liquidating existing inventories and continue to supply parts for a period of 10 years.
In announcing the shutdown, Polaris Industries Chairman and CEO Scott Wine said “This was an incredibly difficult decision for me, my team and the Polaris Board of Directors”.
“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.”
Victory was always intended to take on Harley-Davidson in the battle for sales, but sales peaked in 2012 and the company has lost money in three of the past five years.
There was no word in yesterday’s announcement on the future of Victory’s electric bike range.
Polaris purchased the manufacturing division of electric bike company Brammo back in 2015, and placed it under the Victory brand.
Victory then had some success with the electric bike, both on the track where it competed well in events like the Pikes Peak Hillclimb and in sales.
The Victory brand was launched in Australia in 2008.
Peter Alexander, Managing Director Polaris Industries, Australia and New Zealand released a statement yesterday thanking the Australian motorcycle community for their support.
“To all Victory owners both new and old, we sincerely thank you for your passion and commitment. I have been privileged enough to meet and ride with many of you at rides and other events and look forward to riding with you well into the future.”
“We and our dealer network are committed to continue to supply parts, service and warranty to ensure this happens.”
Polaris will continue to grow the Indian brand which it acquired in 2011, and further develop the Slingshot three wheeler.
Indian has been a huge success for Polaris with sales booming across the world.
It hasn’t taken long for the news to spread – only hours after the announcement even Wikipedia was reporting the demise of the brand quoting “Victory Motorcycles was an American motorcycle manufacturer ….“