For the week of January 23rd, 2022.
Here are a couple of stories that came across my desk that I think are relevant and interesting to the powersports business community.
1. RumbleOn forms a partnership with NADA/J.D. Power for instant cash offers – RumbleOn, owner of the RideNow Powersports and Freedom Powersports dealership groups, announced it has established a relationship with NADA/J.D. Power, enabling customers to receive instant cash offers on powersports online at NADAGuides.com. READ MORE HERE – https://powersportsbusiness.com/top-stories/2022/01/23/rumbleon-forms-partnership-with-nada-j-d-power/
2. From the MIC –
AIMEXPO JANUARY 19-21, 2022
Our Community Comes Together Once More
“What an amazing three days we just had in Las Vegas,” said Cinnamon Kernes, the MIC’s vice president of market expansion. “Powersports dealers, aftermarket exhibitors, OEMs, and media were finally able to reunite and we did it in an epic fashion. Community was the key word as we were finally able to get together after two and a half years. Dealers from all 50 states, Guam, Puerto Rico, and 39 countries got to see products from some of the best brands in the industry. The countdown begins to AIMExpo 2023. We’ll be right here, back in Las Vegas, February 15th through 17th. We cannot wait to see you again.”
SHOW SHOTS
A Look at AIMExpo Last Week in Las Vegas
Gallery of Powersports People, Products, and Presentations
3. Forrest Lucas, Founder of Lucas Oil, Named to the Missouri Sports Hall of Fame Class of 2022 – Congratulations!
4. Raikkonen becomes Team Principal of Kawasaki motocross squad following F1 retirement – From Formula1.com
Kimi Raikkonen has revealed the first stage of his post-F1 retirement plans, with the Finn announced as Team Principal for the works Kawasaki Racing Team in MXGP.
Raikkonen has made no secret of his love of motocross, having previously been involved with his own Ice One Racing team – while the Finn has previously posted videos on social media showing him using motocross to train for the demands of F1.
But now 2007 champion Raikkonen – who retired from Formula 1 at the end of 2021 with a record 349 starts to his name – will take over the running of the factory Kawasaki Racing Team in MXGP, the highest level of motocross racing.
READ MORE AT THE LINK ABOVE
5. Drag Specialties signs three-year sponsorship deal
MotoAmerica announced that Drag Specialties has signed a new three-year agreement to be an official partner of the Mission King Of The Baggers Championship. Additionally, Drag Specialties will also be offering a contingency program for the popular V-twin class.
Read more at Powersports Business – https://powersportsbusiness.com/top-stories/2022/01/25/drag-specialties-signs-three-year-sponsorship-deal/
6. Polaris Reports – Fourth Quarter & Full Year 2021 Earnings Results – READ MORE HERE https://www.polaris.com/en-us/news/company/polaris-2021-fourth-quarter-results/
HIGHLIGHTS
Financial and Operational Highlights
Full-year reported and adjusted sales increased 17% to a record $8,198 million
Full-year 2021 reported net income was $7.88 per diluted share; adjusted net income for the same period was a record $9.13 per diluted share, exceeding our previously issued guidance
Fourth-quarter reported and adjusted sales increased one percent to $2,170 million
Fourth-quarter reported net income was $1.40 per diluted share; adjusted net income for the same period was $2.16 per diluted share
PG&A and International reported strong sales increasing 24% and 34% for the full year 2021, respectively
Market share improved during the year for ORV and Boats in North America; Internationally, market share improved for all powersports segments in 2021
Expanded and strengthened the ORV, Snow, Motorcycle, and Boats product portfolios with over 30 new vehicles and nearly 500 new accessories in 2021
GEM and Taylor-Dunn businesses divested during the quarter
Polaris announced full-year 2022 sales and adjusted earnings guidance with full-year adjusted net income in the range of $10.10 to $10.40 per diluted share and full-year sales up in the range of 12% to 15%
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