WINNER OF 25 INDUSTRY AWARDS, 18-YEAR OLD VICTORY MOTORCYCLES WILL BE ELIMINATED TO FOCUS MORE ON THE FAST-GROWING INDIAN MOTORCYCLE BRAND.
While some reports were claiming that Victory Motorcycles is soon going to make its entry in the Indian market, its parent company has announced the termination the brand. Yes, Polaris CEO Scott Wine said that the winding down process of the 18-year old Victory brand will begin immediately. Citing a mix of competitive pressures and lack of market share of the brand, the company has decided to concentrate its efforts towards the fast-growing Indian Motorcycle brand and other divisions.
Launched in 1998, Victory Motorcycles has introduced around 60 models till now and has won 25 industry awards. While the Victory brand is pretty popular in the US and some other markets, its global presence is not up to the mark. On the other hand, the cult following and worldwide popularity of Indian Motorcycle directed Polaris at buying and relaunching it. The new generation of the Indian Chiefs was introduced in 2013 and they became some of the most desirable motorcycles among the enthusiasts.
Announcing the shutdown of Victory brand, 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.”
He also told that Victory struggled a lot to establish a meaningful share in the motorcycle market but it slid to just 2 percent last year, from 3 percent in 2013. “Given the significant additional investments required for Victory to launch new global platforms that meet changing consumer preferences, and considering the strong performance and growth potential of Indian Motorcycle, the decision to more narrowly focus Polaris’ energy and investments became quite clear,” Wine said.
Polaris also showcased two of the Victory motorcycles, Vision and Vegas Jackpot, in India at the 2012 Auto Expo. However, it decided to launch the new Indian Motorcycle first in the country, which is performing well in its respective segment now.
According to the release issued by Polaris, the company will set the process of liquidating existing Victory Motorcycles inventories across its dealer network in motion immediately. But the current owners of the brand don't have to worry about the maintenance of their bikes as the company guarantees parts, service, and warranty coverage for the next 10 years.