Here are a few stories that came across my desk that I think are relevant and interesting to the powersports business community.
1 – Harley-Davidson’s Production Shutdown Could Wreck its Profits for 2022 – From Jalopnik
Harley-Davidson is likely looking at missed profits following a brief production halt that suspended the company’s plants in Pennsylvania and Wisconsin. On May 19, Harley said it would stop making its gasoline-powered motorcycles for two weeks citing regulatory compliance issues. But that short period of time is now expected to affect the company’s profits for the entire fiscal year, according to Reuters.
The motorcycle manufacturers’s compliance woes and subsequent production stoppage extended its backlog of deliveries, making it difficult to sell the company’s most lucrative models. Harley dealers told Reuters “[it’s] hard to sell someone a $40,000 bike that we don’t have in front of us.”
READ THE ENTIRE POST HERE – https://jalopnik.com/harley-davidsons-production-shutdown-could-wreck-its-pr-1849328131
2 – PRO ARMOR ENTERS SNOW ACCESSORY MARKET, TEAMS UP WITH TOP ATHLETES – From Motorcycle & Powersports News
Pro Armor has announced its expansion into the snow accessory market, beginning in the 2022-‘23 season. The product portfolio will initially be geared towards the mountain rider segment of the market, who have a similar mindset as the Side-by-Side rider Pro Armor has successfully supported for decades.
This launch will be coupled with partnerships with top snowmobile athletes in the sport – including Chris Burandt, Dan Adams, Bret Rasmussen, and Matt Entz – who will help drive intuitive product design, the highest levels of testing and validation, and ultimately, better accessories to help riders go farther, higher, and deeper than they ever thought possible.
“Our goal is to expand the Pro Armor footprint into the snow market while staying true to the brand’s DNA by launching accessories for the high-performance, backcountry sled rider,” said Andy Kroll, president of Pro Armor and former brand manager for Polaris snowmobiles. “Pro Armor has been delivering accessory solutions to riders for over 20 years, first to quad riders, more recently to Side-by-Side riders, and now to back country snow riders as well. Helping riders elevate their style and performance is in our DNA, and we’re excited to bring this passion to the snow community as well.”
The capabilities at Pro Armor extend from design all the way through manufacturing and distribution, to allow riders to fully customize their ride from top to bottom. Pro Armor’s goal is to help make riders’ vehicles an extension of who they are and help them write the next story in their epic adventures.
For more info: www.proarmor.com/en-us/snow/
Pro Armor Partners with Bret Rasmussen
Pro Armor is pleased to announce its newest partnership with Matt Entz. Matt has a lifelong passion for snowmobiling and has successfully translated that into a professional career as a rider and instructor. Enjoying mountain riding from a young age, Matt has the experience to lend product knowledge and innovative ideas for development to the new Pro Armor portfolio of snow accessories.
“Our partnership with Matt has been a valuable resource with regards to incorporating his on-snow experience with various products and utilizing this to further improve on product design, development and testing, which ultimately leads to better solutions for our customers.” said Andy Kroll, President of Pro Armor.
The partnership with Matt will integrate product development and design with the highest levels of testing and validation.
Matt is eager to be working with the team at Pro Armor and continuing the partnership for seasons to come, stating that “it’s awesome to see Pro Armor entering the snowmobile world and I’m excited to partner with them! We have used their products for years on RZRs for our summer business. I have always appreciated the quality of their parts and love the aggressive styling. Really looking forward to their new line of snowmobile products and what’s to come in the future. I love being involved in all phases from sharing ideas for development, testing, and putting the final product to use.”
Pro Armor is thrilled to announce its newest partnership with Bret Rasmussen. As one of the true pioneers of snowmobiling, Bret is one of the most recognizable names in the industry and brings a lifetime of experience, product knowledge and innovative ideas to lend to the new Pro Armor portfolio of snow accessories.
“We at Pro Armor could not be more excited to be partnering with Bret, as he brings such an extensive legacy, wealth of knowledge and the utmost respect within the snow community to us as we expand into the snow market this upcoming season,” said Andy Kroll, President of Pro Armor.
The partnership with Bret will integrate product development and design with the highest levels of testing and validation. Bret is already diving right in, stating that “I am eager to begin working with the team at Pro Armor, taking advantage of their resources and practical experience in off road vehicle accessories. Together we will continue the highest in quality and functionality in snowmobile performance parts, providing riders the opportunity to personalize and improve their ride, enhancing their own ride style.”
PRO ARMOR ANNOUNCES PARTNERSHIP WITH MATT ENTZ
Pro Armor is pleased to announce its newest partnership with Matt Entz. Matt has a lifelong passion for snowmobiling and has successfully translated that into a professional career as a rider and instructor. Enjoying mountain riding from a young age, Matt has the experience to lend product knowledge and innovative ideas for development to the new Pro Armor portfolio of snow accessories.
“Our partnership with Matt has been a valuable resource with regards to incorporating his on-snow experience with various products and utilizing this to further improve on product design, development and testing, which ultimately leads to better solutions for our customers.” said Andy Kroll, President of Pro Armor.
The partnership with Matt will integrate product development and design with the highest levels of testing and validation.
Matt is eager to be working with the team at Pro Armor and continuing the partnership for seasons to come, stating that “it’s awesome to see Pro Armor entering the snowmobile world and I’m excited to partner with them! We have used their products for years on RZRs for our summer business. I have always appreciated the quality of their parts and love the aggressive styling. Really looking forward to their new line of snowmobile products and what’s to come in the future. I love being involved in all phases from sharing ideas for development, testing, and putting the final product to use.”
PRO ARMOR ANNOUNCES PARTNERSHIP WITH DAN ADAMS
Pro Armor is eager to announce its newest partnership with Dan Adams, his NXT LVL Riding Clinics and NXT LVL Brand. Dan has been a professional snowmobile rider since his late teens and through his NXT LVL Riding Clinics, he teaches snowmobilers from all over the world the fundamentals of off trail mountain riding. As one of the top athletes in the world of mountain and backcountry snowmobiling, Dan has a wealth of experience, product knowledge and innovative ideas to bring to the new Pro Armor portfolio of snow accessories.
“Bringing Dan on board is a huge win for Pro Armor and gives us an expert in the community to help guide better product design and testing, ultimately leading to better solutions for backcountry riders,” said Andy Kroll, President of Pro Armor.
The partnership with Dan will integrate product development and design with the highest levels of testing and validation. Expect a premium line of co-branded accessories featuring Dan’s NXT LVL brand tied in with Pro Armor Snow.
Dan is looking forward to getting things started in a fast-paced environment, stating that “partnering with the team at Pro Armor allows me to support what I see as a premium aftermarket brand breaking into the snow industry at full throttle. I am excited to lend my experience in helping build the highest quality of snow accessories through product design and development.”
PRO ARMOR ANNOUNCES PARTNERSHIP WITH CHRIS BURANDT
Pro Armor is excited to announce its newest partnership with Chris Burandt. From growing up on snowmobiles to pushing boundaries in the backcountry, Chris has truly seen and excelled at everything that can be done on a sled. By means of his extensive career and on-snow experience, Chris lends his immense product knowledge and innovative ideas to the new Pro Armor portfolio of snow accessories.
“Aligning with Chris as we launch Pro Armor Snow allows us to tap into one of the premier riders in the sport. We know Chris would never put anything on his sled that was not of the utmost premium quality, and that is exactly what we strive to deliver,” said Andy Kroll, President of Pro Armor.
The partnership with Chris will integrate product development and design with the highest levels of testing and validation. Expect a premium line of co-branded accessories featuring Chris’s personal brand tied in with Pro Armor Snow in the future.
The wheels are already turning in Chris’s head regarding new product, stating that “This opportunity to partner with Pro Armor will allow me to continue bringing innovative products to the industry. As it has been from the beginning, my main agenda of reducing weight and increasing sled performance will be at the forefront all while adding signature styles and custom looks. Lots of fun things up ahead…stay tuned!”
3 – HARLEY-DAVIDSON DELIVERS SECOND QUARTER FINANCIAL RESULTS – From Harley-Davidson
MILWAUKEE, July 28, 2022 /PRNewswire/ — Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) today reported second quarter results.
“Reaffirming our guidance for the year, despite the production suspension, demonstrates the effectiveness of our Hardwire strategy and the power of our brand.” said Jochen Zeitz, Chairman, CEO and President, Harley-Davidson. “Now with the suspension being behind us, we are fully focused on mitigating the impacts of the volume loss with the ambition to deliver on our Hardwire II goals, in year two of our five-year strategy.”
Second Quarter 2022 Summary of Results
- Global motorcycle shipments were adversely impacted (down 15 percent in Q2) by the approximately two-week production suspension caused by a regulatory compliance matter at a third-party supplier
- HDMC Revenue down 5 percent with global pricing and growth within Apparel offsetting much of the negative impact from the temporary production suspension
- HDMC Operating Income margin of 15.1 percent, was up 1.2 points versus last year; pricing, lower operating expense and lower EU tariffs offset the impact of the suspension
- HDFS Operating Income decline of 9 percent was driven by the continued normalization of credit losses in-line with expectations
- GAAP diluted EPS of $1.46 was up 10 percent vs last year; Harley-Davidson repurchased $64 million of shares (or 1.7 million shares) on a discretionary basis in Q2
- The Company reaffirms its full-year 2022 outlook
- Merger transaction between LiveWire and AEA-Bridges Impact Corporation now expected to list at the NYSE in late September
Second Quarter 2022 Results
Harley-Davidson, Inc. Consolidated Financial Results
| $ in millions (except EPS) | 2nd quarter | ||
| 2022 | 2021 | Change | |
| Revenue | $1,469 | $1,532 | (4 %) |
| Operating Income | $278 | $280 | (1 %) |
| Net Income | $216 | $206 | 5 % |
| GAAP Diluted EPS | $1.46 | $1.33 | 10 % |
Consolidated revenue was down 4 percent in the second quarter versus Q2 2021 driven primarily by HDMC revenue down 5 percent. The revenue decline was driven by the production suspension in the second half of May. Consolidated operating income decline of 1 percent reflects 3 percent growth at HDMC and a decline of 9 percent at HDFS due to an expected higher provision for credit losses as the credit environment normalizes.
HDMC Results: Motorcycles and Related Products
| $ in millions | 2nd quarter | ||
| 2022 | 2021 | Change | |
| Motorcycle Shipments (thousands) | 48.2 | 56.7 | (15 %) |
| Revenue | $1,266 | $1,332 | (5 %) |
| Motorcycles | $940 | $1,030 | (9 %) |
| Parts & Accessories | $215 | $223 | (4 %) |
| Apparel | $77 | $56 | 39 % |
| Licensing | $12 | $9 | 33 % |
| Other | $23 | $15 | 56 % |
| Gross Margin | 30.5 % | 30.6 % | 0 pts. |
| Operating Income | $192 | $186 | 3 % |
| Operating Margin | 15.1 % | 14.0 % | 1.2 pts. |
Global motorcycle shipments were adversely impacted by the production suspension. HDMC Revenue was down 5 percent as a result, with global pricing across Motorcycles, Parts & Accessories, and Apparel partially offsetting the decline in wholesale shipments of 15 percent.
Second quarter gross margin was flat compared to Q2 prior year. Global pricing and mix contributed approximately 6 points of margin benefit and more than offset cost inflation; Second quarter operating margin improved to 15.1% from 14.0% in Q2 prior year. The +1.2 points improvement was driven by global pricing, lower EU tariffs and reduced operating expenses.
Harley-Davidson Retail Motorcycle Sales
| Motorcycles (thousands) | 2nd quarter | ||
| 2022 | 2021 | Change | |
| North America | 34.9 | 48.2 | (28 %) |
| EMEA | 8.7 | 10.2 | (15 %) |
| Asia Pacific | 6.0 | 6.0 | 1 % |
| Latin America | 0.8 | 0.9 | (8) % |
| Worldwide Total | 50.5 | 65.3 | (23 %) |
Global retail motorcycle sales in the second quarter were down 23 percent versus prior year, results were adversely impacted by lower inventory and the production suspension.
HDFS Results: Financial Services
| $ in millions | 2nd quarter | ||
| 2022 | 2021 | Change | |
| Revenue | $203 | $201 | 1 % |
| Operating Income | $86 | $95 | (9 %) |
HDFS’ operating income decline of $9 million versus Q2 2021 was driven by a higher provision for credit losses. The increase in the provision was due to actual retail credit losses moving towards normalized levels. Total quarter ending financing receivables were $7.1B, which was up 3% versus prior year.
Other Results
- Harley-Davidson generated $244 million of cash from operating activities year-to-date. Cash and cash equivalents were $2.2 billion at the end of the second quarter, up $453 million compared to the end of the prior year second quarter. The increase was primarily from increases at HDFS following a securitized debt issuance in June 2022.
- Tax Rate – The Company’s second quarter effective tax rate was 22 percent.
- Dividends – The Company paid cash dividends of $0.1575 per share in Q2 2022.
- In Q2 The Company repurchased $64 million of shares (or 1.7 million shares); YTD the Company repurchased $312 million of shares (or 8.0 million shares)
2022 Outlook
For the full year 2022, the Company reaffirms its initial guidance and continues to expect:
- HDMC revenue growth of 5 to 10%
- HDMC operating income margin of 11 to 12%
- HDFS operating income to decline by 20 to 25%
- Capital investments of $190 million to $220 million
The outlook continues to assume that manufacturing, logistics and material costs moderately improve in the back-half of the year as overall operations performance stabilizes and we get beyond the peak levels of inflation experienced in 2021.
The Company’s cash allocation priorities are to fund growth through The Hardwire initiatives, pay dividends, and execute discretionary share repurchases.
Update on LiveWire Transaction
On December 13, 2021, Harley-Davidson and AEA-Bridges Impact Corp. (“ABIC”) (NYSE: IMPX), a special purpose acquisition company with a dedicated sustainability focus, sponsored by executives of AEA Investors and Bridges Fund Management, announced a definitive business combination agreement under which ABIC will combine with LiveWire, Harley-Davidson’s electric motorcycle division, to create a new publicly traded company. Its common stock is expected to be listed on the New York Stock Exchange under the symbol “LVW”.
As part of LiveWire’s journey to become the first publicly traded all electric motorcycle company in the U.S., yesterday the SEC declared our S-4 registration statement effective. Due to quarterly fiscal accounting, we now expect that LiveWire will go public on September 26th, which will be the start of both LiveWire and Harley-Davidson’s fiscal fourth quarter. As part of this process, we expect that ABIC will hold its shareholder meeting to approve the business combination on September 16th.
Company Background
Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Our vision: Building our legend and leading our industry through innovation, evolution and emotion. Our mission: More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul. Our ambition is to maintain our place as the most desirable motorcycle brand in the world. Since 1903, Harley-Davidson has defined motorcycle culture by delivering a motorcycle lifestyle with distinctive and customizable motorcycles, experiences, motorcycle accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get riders on the road. www.harley-davidson.com.
Webcast
Harley-Davidson will discuss its financial results and outlook on an audio webcast at 8:00 a.m. CT today. The webcast login and supporting slides can be accessed at http://investor.harley-davidson.com/news-and-events/events-and-presentations. The audio replay will be available by approximately 10:00 a.m. CT.
Cautionary Note Regarding Forward-Looking Statements
The Company intends that certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the company “believes,” “anticipates,” “expects,” “plans,” “may,” “will,” “estimates,” “targets,” “intend,” “is on-track,” “forecasting,” or words of similar meaning. Similarly, statements that describe or refer to future expectations, future plans, strategies, objectives, outlooks, targets, guidance, commitments or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially, unfavorably or favorably, from those anticipated as of the date of this press release. Certain of such risks and uncertainties are described below. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are only made as of the date of this press release, and the Company disclaims any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Important factors that could affect future results and cause those results to differ materially from those expressed in the forward-looking statements include, among others, the following: (I) the COVID-19 pandemic, including the length and severity of the pandemic across the globe and the pace of recovery following the pandemic and (II) the Company’s ability to: (A) execute its business plans and strategies, including The Hardwire, including each of the pillars and the evolution of LiveWire as a standalone brand, including the proposed separation of LiveWire into a separate business of the Company through the combination of LiveWire with AEA-Bridges Impact Corp. (ABIC), which includes the risks noted below; (B) manage supply chain and logistic issues, including quality issues, availability of semiconductor chip components and the ability to find alternative sources of those components in a timely manner, unexpected interruptions or price increases caused by supplier volatility, raw material shortages, war or other hostilities, including the conflict in Ukraine, or natural disasters, and longer shipping times and increased logistics costs, including by successfully implementing pricing surcharges; (C) realize the expected business benefits from the combination of LiveWire with ABIC, which may be affected by, among other things: (i) the ability of LiveWire to: (1) execute its plans to develop, produce, market, and sell its electric vehicles; (2) achieve profitability, which is dependent on the successful development and commercial introduction and acceptance of its electric vehicles, and its services, which may not occur; (3) adequately control the costs of its operations as a new entrant into a new space; (4) develop, maintain, and strengthen its brand; (5) execute its plans to develop, produce, market, and sell its electric vehicles; and (6) effectively establish and maintain cooperation from its retail partners, largely drawn from the Company’s traditional motorcycle dealer network, to be able to effectively establish or maintain relationships with customers for electric vehicles; (ii) competition; and (iii) other risks and uncertainties indicated from time to time in the final prospectus of ABIC, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by the Company, LW EV Holdings, Inc. (HoldCo) or ABIC; (D) accurately analyze, predict and react to changing market conditions and successfully adjust to shifting global consumer needs and interests; (E) successfully access the capital and/or credit markets on terms that are acceptable to the Company and within its expectations; (F) successfully carry out its global manufacturing and assembly operations; (G) develop and introduce products, services and experiences on a timely basis that the market accepts, that enable the Company to generate desired sales levels and that provide the desired financial returns, including successfully implementing and executing plans to strengthen and grow its leadership position in Grand American Touring, large Cruiser and Trike, and grow its complementary businesses; (H) perform in a manner that enables the Company to benefit from market opportunities while competing against existing and new competitors; (I) manage the regulatory compliance matter relating to a third-party supplier’s component part in a manner that avoids additional costs or recall expenses that are material; (J) successfully appeal: (i) the revocation of the Binding Origin Information (BOI) decisions that allowed the Company to supply its European Union (EU) market with certain of its motorcycles produced at its Thailand operations at a reduced tariff rate and (ii) the denial of the Company’s application for temporary relief from the effect of the revocation of the BOI decisions; (K) manage and predict the impact that new, reinstated or adjusted tariffs may have on the Company’s ability to sell products internationally, and the cost of raw materials and components, including the temporary lifting of the Section 232 steel and aluminum tariffs and incremental tariffs on motorcycles imported into the EU from the U.S., between the U.S. and EU, which expires on December 31, 2023; (L) prevent, detect, and remediate any issues with its motorcycles or any issues associated with the manufacturing processes to avoid delays in new model launches, recall campaigns, regulatory agency investigations, increased warranty costs or litigation and adverse effects on its reputation and brand strength, and carry out any product programs or recalls within expected costs and timing; (M) manage the impact that prices for and supply of used motorcycles may have on its business, including on retail sales of new motorcycles; (N) successfully manage and reduce costs throughout the business; (O) manage through changes in general economic and business conditions, including changing capital, credit and retail markets, and the changing domestic and international political environments, including as a result of the conflict in Ukraine; (P) continue to develop the capabilities of its distributors and dealers, effectively implement changes relating to its dealers and distribution methods and manage the risks that its dealers may have difficulty obtaining capital and managing through changing economic conditions and consumer demand; (Q) continue to develop and maintain a productive relationship with Zhejiang Qianjiang Motorcycle Co., Ltd. and launch related products in a timely manner; (R) maintain a productive relationship with Hero MotoCorp as a distributor and licensee of the Harley-Davidson brand name in India; (S) successfully maintain a manner in which to sell motorcycles in China and the Company’s Association of Southeast Asian Nations (ASEAN) countries that does not subject its motorcycles to incremental tariffs; (T) manage its Thailand corporate and manufacturing operation in a manner that allows the Company to avail itself of preferential free trade agreements and duty rates, and sufficiently lower prices of its motorcycles in certain markets; (U) accurately estimate and adjust to fluctuations in foreign currency exchange rates, interest rates and commodity prices; (V) retain and attract talented employees, and eliminate personnel duplication, inefficiencies and complexity throughout the organization; (W) prevent a cybersecurity breach involving consumer, employee, dealer, supplier, or Company data and respond to evolving regulatory requirements regarding data security; (X) manage the credit quality, the loan servicing and collection activities, and the recovery rates of Harley-Davidson Financial Services Inc.’s loan portfolio; (Y) adjust to tax reform, healthcare inflation and reform and pension reform, and successfully estimate the impact of any such reform on the Company’s business; (Z) manage through the effects inconsistent and unpredictable weather patterns may have on retail sales of motorcycles; (AA) implement and manage enterprise-wide information technology systems, including systems at its manufacturing facilities; (BB) manage changes and prepare for requirements in legislative and regulatory environments for its products, services and operations; (CC) manage its exposure to product liability claims and commercial or contractual disputes; (DD) continue to manage the relationships and agreements that the Company has with its labor unions to help drive long-term competitiveness; (EE) achieve anticipated results with respect to the Company’s pre-owned motorcycle program, Harley-Davidson Certified, and the Company’s H-D1 Marketplace; (FF) accurately predict the margins of its Motorcycles and Related Products segment in light of, among other things, tariffs, the cost associated with product development initiatives and the Company’s complex global supply chain; and (GG) optimize capital allocation in light of the Company’s capital allocation priorities.
The Company’s ability to sell its motorcycles and related products and services and to meet its financial expectations also depends on the ability of the Company’s dealers to sell its motorcycles and related products and services to retail customers. The Company depends on the capability and financial capacity of its dealers to develop and implement effective retail sales plans to create demand for the motorcycles and related products and services they purchase from the Company. In addition, the Company’s dealers and distributors may experience difficulties in operating their businesses and selling Harley-Davidson motorcycles and related products and services as a result of weather, economic conditions, the impact of the COVID-19 pandemic, or other factors.
In recent years, Harley-Davidson Financial Services Inc. has experienced historically low levels of retail credit losses, but there is no assurance that this will continue. The Company believes that Harley-Davidson Financial Services Inc.’s retail credit losses will increase over time due among other things to factors that have contributed recently to low levels of losses, including the favorable impact of recent federal stimulus payments that will not recur and the conflict in Ukraine.
The Company’s operations, demand for its products, and its liquidity could be adversely impacted by work stoppages, facility closures, strikes, natural causes, widespread infectious disease, terrorism, war or other hostilities, including the conflict in Ukraine, or other factors. Refer to “Risk Factors” under Item 1A. Risk Factors of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 as well as Item 1A. Risk Factors of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 27, 2022 for a discussion of additional risk factors and a more complete discussion of some of the cautionary statements noted above.
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SOURCE Harley-Davidson, Inc.
4 – R&G ANNOUNCES NEW PARTNERSHIP WITH BRANDS THAT SHINE – From Motorcycle and Powersports News
R&G, a global leader in motorcycle crash protection, announced a new partnership with Brands That Shine. The company will work to further boost the growth of R&G in the U.S. through increased dealer support and a heightened presence at the track.
The move marks a significant step forward for the British brand as it expands its reach across the U.S. market, with Brands That Shine opening channels and boosting dealer awareness to grow the business in the U.S.
Commenting on the announcement, Simon Hughes, R&G’s managing director, said, “We are really excited to be working with Brands That Shine. Jessica’s expertise in relationship building, brand awareness and creative marketing perfectly complements the emerging growth sectors for R&G. I believe this is an important step in continuing the expansion of our brand presence in the U.S. with a long-term strategic partnership.”
Jessica Shine, founder of Brands That Shine, added, “Our goal has always been to provide the best possible products and aftersales support for our dealers while giving our brand partners the focus and attention they deserve. R&G has offered us the opportunity to promote a range of outstanding products suited to our customer base, which are not only market leading but also fit into our long-term vision. I look forward to seeing what the future holds for both parties as a result of this great partnership.”
Founded in 1999, R&G is a world leader in damage protection and styling accessories for motorcycles. For over two decades, R&G has protected hundreds of thousands of road riders and racers from expensive damage when the worst happens. With thousands of applications for hundreds of bikes, R&G products have been used in racing championships across the globe, including British Superbikes, MotoAmerica and Australian Superbikes.
R&G is an official partner of the 2022 MotoAmerica Championship as well as sponsoring two teams in the Series: Team Hammer and Tom Wood Powersports. MotoAmerica has also given its official approval for R&G Engine Case Covers, Lever Guards and Tank Sliders.
Alongside providing essential crash protection products, such as Aero Frame Sliders, Engine Case Covers, Crash Bars and Fork Protectors, R&G also offers a host of accessories, such as Exhaust Hangers and Fender Eliminators.
R&G will be attending AIMEXPO 2023 (Feb. 15-17, 2023, Las Vegas) where visitors to booth 4084 will be able to see the firm’s range of products first hand.
5 – Polaris Inc. Declares Regular Cash Dividend – From Polaris Inc.
Polaris Inc. (NYSE: PII) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.64 per share payable on September 15, 2022 to shareholders of record at the close of business on September 1, 2022.
About Polaris
As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. Polaris’ high-quality product line-up includes the Polaris RANGER®, RZR® and Polaris GENERAL™ side-by-side off-road vehicles; Sportsman® all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle® mid-size and heavyweight motorcycles; Slingshot® moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with a robust portfolio of parts, garments, and accessories. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com
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