Exhibit 99.1
ANALYST & INVESTOR MEETINGOpening Remarks / Polaris Overview July 26, 2016 POLARIS INDUSTRIES INC.
Polaris Analyst & Investor Meeting Agenda 8:00 am Opening Remarks / Polaris Overview Scott Wine 8:15 am Customer Excellence Tim Larson 8:35 am Motorcycles Steve Menneto 9:05 am Global Adjacent Markets Bob Mack 9:25 am Parts, Garments & Accessories Steve Eastman 9:45 am International Mike Dougherty 10:05 am Break 10:20 am Snowmobiles Chris Wolf 10:35 am Off-Road Vehicles Matt Homan 11:05 am Global Operations, Engineering & Lean Ken Pucel 11:25 am Closing Comments Scott Wine 11:30 am Q&A Scott WineMike Speetzen 12:00 pm Adjourn Tuesday, July 26, 2015 8:00 AM – 12:00 PM CDTGaylord OprylandNashville, TNWebcast Link at:ir.polaris.com July 2016 Analyst 2
Except for historical information contained herein, the matters set forth in this document, including but not limited to management’s expectations regarding 2016 sales, shipments, margins, currencies, net income and cash flow, the opportunities for expansion and diversification of the Company’s business and the Company’s guidance on earnings per share are forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Potential risks and uncertainties include such factors as product offerings, promotional activities and pricing strategies by competitors; manufacturing operation expansion initiatives; acquisition integration costs; warranty expenses; foreign currency exchange rate fluctuations; environmental and product safety regulatory activity; effects of weather; commodity costs; uninsured product liability claims; uncertainty in the retail and wholesale credit markets; performance of affiliate partners; changes in tax policy and overall economic conditions, including inflation, consumer confidence and spending and relationships with dealers and suppliers. Investors are also directed to consider other risks and uncertainties discussed in our 2015 annual report and Form 10-K filed by the Company with the Securities and Exchange Commission. The Company does not undertake any duty to any person to provide updates to its forward-looking statements.The data source for retail sales figures included in this presentation is registration information provided by Polaris dealers in North America and compiled by the Company or Company estimates. The Company must rely on information that its dealers supply concerning retail sales, and other retail sales data sources and this information is subject to revision.Non-GAAP Measure - Constant Currency Reporting. This presentation includes information regarding the Company’s 2016 expectations on a constant currency basis, which is a non-GAAP measure, as well as on a GAAP basis. For purpose of comparison, the results on a constant currency basis uses the respective prior year exchange rates for the comparative period to enhance the visibility of the underlying business trends, excluding the impact of translation arising from foreign currency exchange rate fluctuations. 3 July 2016 Analyst SAFE HARBOR
Scott W. Wine Chairman & CEO Opening Remarks July 26, 2015 POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING July 2016 Analyst 4
Knowledgeable, Experienced Team at Polaris 5 July 2016 Analyst Executive Team Ken PucelEVP – Global Ops, Engineering & Lean (2 years) Mike SpeetzenEVP – Finance & CFO(1 year) Stacy BogartSVP – General Counsel(7 years) Tim LarsonSVP – Global Customer Excellence(3 years) Dave LongrenSVP – Enterprise Cost(13 years) Bob MackSVP – Corp Dev & Strategy & President – GAM(3 months) Jim WilliamsSVP & CHRO(5 years) Mike DoughertyPresident – International(18 years) Steve EastmanPresident – PG&A(4 years) Matt HomanPresident – ORV(14 years) Steve MennetoPresident – Motorcycles(19 years) Craig ScanlonVP – CMO & CRO ORV(12 years) Chris WolfVP – Snowmobiles(14 years) Scott WineChairman & CEO(8 years)
2016 1st Half Financial Metrics 1st Half Sales and Earnings Disappointing; 2nd Half Performance/Results Improving 1st Half 2016 1st Half 2015 Variance Revenue $2,113.8 $2,157.7 -2% Gross Profit % 25.2% 28.4% -325 bps Operating Profit % 9.2% 14.6% -538 bps Net Income $118.1 $189.5 -38% Net Income % 5.6% 8.8% -320 bps EPS $1.80 $2.79 -35% YTD Operating Cash Flow $348.3 $89.9 +287% ($ in millions except per share amounts) July 2016 Analyst 6
Strategic Objectives Vision & Strategy VISION Fuel the passion of riders, workers and outdoor enthusiasts around the world by delivering innovative, high quality vehicles, products, services and experiences that enrich their lives. STRATEGY Polaris will be a highly profitable, customer centric, $8B global enterprise by 2020. We will make the best off-road and on-road vehicles and products for recreation, transportation and work supporting consumer, commercial and military applications. Our winning advantage is our innovative culture, operational speed and flexibility, and passion to make quality productsthat deliver value to our customers. Best in Powersports PLUS Growth through Adjacencies 5-8% annual organic growth >$2B from acquisitions & new markets Global Market Leadership LEAN Enterprise is Competitive Advantage >33% of Polaris revenue Significant Quality, Delivery & Cost Improvement Strong Financial Performance Sustainable, profitable growthNet Income Margin >10% Guiding Principles Best People, Best Team Safety & Ethics Always Customer Loyalty Performance Priorities Growth Margin Expansion Product & Quality Leadership LEAN Enterprise >$8 Billion by 2020 12% CAGR >10% of Sales by 2020 13% CAGR 7 July 2016 Analyst Strategy and Objectives Remain Valid & Achievable
Time to Get Back to Winning…. The Right Way – Everyday, Always 8 Guiding Principles & Priorities July 2016 Analyst Best People, Best Team Safety & Ethics AlwaysCustomer Loyalty Performance Priorities GrowthMargin ExpansionProduct and Quality Leadership LEAN Enterprise Guiding Principles
9 Near-term Priorities July 2016 Analyst Meet / Beat Commitments Invest Wisely Get Great At Inventory Accelerate LEAN Transformation Improve Execution & Quality Attack Costs–Boldly – Regain Consistency / Confidence – New Products, New Businesses, New Partners – Improve Cash Flow / Dealer Loyalty / Profitability – Build A Competitive Advantage – Dramatically Improve Performance – Align With Current Outlook 7 6 5 4 3 2 Win the Competitive Battle –Grow – Remain on Offense – Innovation / Customer Excellence 1
Scott W. Wine Chairman & CEO Thank You
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING July 26, 2016 TIM LARSON SVP – Global Customer ExcellencePolaris Sales, Service & Interactive
Customer Excellence 2 Ensure the best powersports & on-road products in the world, are surrounded by the best consumer and dealer experience in the world, delivering: Loyal lifetime relationships, earning repeat purchase The industry’s leading NPS: product & experiencePolaris >$8 Billion by 2020 July 2016 Analyst
Polaris Customer Journey 3 Delivering a Differentiated End to End Experience July 2016 Analyst SEAMLESS: DIGITAL TO DEALERSHIP SEAMLESS DELIVERY EXPERIENCE RIDE COMMAND ENGAGE DIGITALLY DEALERSHIP EXPERIENCE WORLD CLASS SERVICE
Engaging Consumers Digitally: 1H 2016 Delivering Dealers Informed & Engaged Consumers 4 Improved Product Shopping Fully Responsive, New B&Q 1.6X Sales E-Commerce 6.2 Million Fans Socially 59% Traffic Mobile Direct Activation & Engagement July 2016 Analyst
Polaris & Indian Motorcycle Ride Command 5 July 2016 Analyst Manage your Fleet, Manage your Ride – Be in Command with RideCommand™ Largest screen on two wheelsFastest interfaceMost customizable Fleet ManagementGeofencingAuthentication
Dealership Capabilities & Consumer Ownership Experience Investing In Our Dealers & Elevating Our Customer’s Experience 6 Expanding Service & Staff TrainingDealer Management System IntegrationField Support Investments Dealership Capabilities Polaris Consumer Delivery Experience: PCDXRide Command Integrated APP July 2016 Analyst Consumer Ownership
Dealer Transformation Polaris & Dealers Investing & Expanding for Profitable Growth 7 1st Half: New Dealer Activations on Target ORVIndian MotorcycleSlingshot Existing Dealer Expansions on Target ¾ of our total Polaris NA revenueTop 3 actions: showroom, storage, service Dealer Profitability Inventory Reduction RFM & SMART Retail Velocity & Simplified IncentivesDealer Data Sharing July 2016 Analyst
Strong Dealership Count Positions 8 Polaris Leadership Position in Key Markets SxS + ATV Snowmobiles Victory + Indian ~1530 ~ 750 ~ 530 Slingshot ~ 450 Long Range Plan 2015 Year End Actual ORV: further expand in opportunity markets sustain leadership position Motorcycles: fully penetrate top markets further expand distribution July 2016 Analyst
N.A. Powersports Consolidated Share 9 Clear #1 N.A. Powersports Honda Harley Yamaha Kawasaki Can Am Other July 2016 Analyst
Polaris Growth: Brand Franchise Value Per Dealer Polaris Delivering High Dealer Brand Value Per Dealer 10 Growing Brand Value Maintaining or Eroding Brand Value July 2016 Analyst OEM N.A. Retail Sales Units Per Dealership (2015 vs. 2010)
Summary 11 Ensure the best powersports and on-road products in the world are surrounded by the best consumer and dealer experience in the world:Deliver industry-leading product innovation: MY 17 lineup, PG&A, Ride CommandExecuting complementary channels to: engage consumers, deliver leads to dealersImproving dealer profitability through: Retail velocity, RFM, SMART & inventory management Transforming distribution/dealership capabilities: lead mgmt., merchandising, service July 2016 Analyst
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING Q&A Tim Larson SVP – Global Customer ExcellencePolaris Sales, Service & Interactive
POLARIS INDUSTRIES INC. / Analyst Meeting July 26, 2016 Steve Menneto President – Motorcycles
Motorcycles Driving Growth & Profitability 2 Slingshot integration into Motorcycles:Plenty of Opportunities to Drive Growth & Awareness Leverage Bigger Motorcycle Team to Drive Growth for all Three BrandsLeverage Lean Tools and Standard Work to Improve Margins Motorcycles + July 2016 Analyst
2016 Industry Off to a Choppy Start 2016 N.A. 900+cc Industry Industry Retail Trends 2016 Industry Retail YTD Q2 YTD 2016 Trends:2016 N.A. 900+ cc Industry down mid-single digits YTD Mid Size Industry up mid-single digits – New Product Introductions / promo driving segmentCruiser Industry up mid-single digits – New Product introductions/ promo driving segmentBagger & Touring down high-single digits – Increased Promotions to Get Customer to Trade3-wheeled down high-single digits – Slingshot gaining share 3 July 2016 Analyst
Polaris Motorcycles Largest Share Gains 2016 N.A. 900+cc Competitive Summary Rank Manufacturer Strategy Share Trend 1 Harley Aggressive Financing, Conversion Promotions Focusing on Cruiser, Sportster, Street Products Huge Installed Owner Base 2 Indian American Heritage High Owner Satisfaction 3 Victory American Muscle & Performance High Owner Satisfaction 4 Metrics Aggressive Promotions, Low Investment in New Product Breadth of Distribution Bases 5 Triumph Historical Brand, New Products 4 July 2016 Analyst
5 New Product News (1st Half 2016) Launched 40 New Accessories Chieftain Springfield Launched March ‘16 Chieftain Dark Horse launched May ’16 Jack Daniels/Indian 150 bikes sold out in 8 hours Octane Launched Feb ‘16 Slingshot SL Blue Fire Launched March ‘16 July 2016 Analyst
VIDEO:VICTORY BRANDtrt 1:00 6 July 2016 Analyst
Flexing Victory Muscle Victory MY17 Product X-1 Image July 2016 Analyst 7
Strong Finish! 2H Victory Activation 1.8 Turns- $5,250 GM/unit IAVA – MILITARY Veterans Day Honoring Heroes 1.8 Turns- $5,250 GM/unit REDLINE Industry Leading Programs “On Brand” MY17 Sturgis Showcase of Product & Partners Replace Slow Turnerswith Fast 200MM+Media Impressions New Riders Experience Brand OCTANE CUSTOM ACTIVATIONS July 2016 Analyst 8
VIDEO:INDIAN BRANDtrt 1:38 9 July 2016 Analyst
Indian MY17 Product 10 Best System on Two Wheels Largest Screen, Fastest Interface, Most Customizable Indian Motorcycle RIDE COMMAND™ July 2016 Analyst
Changing the Game in Infotainment Indian MY17 Product 11 July 2016 Analyst Highest resolution and brightest, largest screen (7”) Quickest start-up, 2 finger touch with pinch to zoom3 customizable screens with 8 different Information Display options Up to 200 watt premium audio system Non-Infotainment Infotainment Infotainment with Navigation N.A. Bagger/Touring Retail Infotainment has taken over the Tour and Bagger market in N.A.Growth opportunity for Chieftain & Roadmaster RIDE COMMAND™
Win a Championship in 2017 Indian Flat Track 12 AMA Growing ViewershipLive up to our past Reveal at SturgisRace at Springfield Broader Scout Appeal via Hooligan Racing July 2016 Analyst
Drive Brand Stories! 2H Activation 13 BRAND EXPERIENCE PRODUCT OUTREACH Brand that inspires riders to Be Legendary Product that beats HD where it matters Surpass HD Owner and Dealer Experience Partnerships that Disrupt Core HD Rider July 2016 Analyst
BRANDtrt 1:38 14 Have to update video July 2016 Analyst
A GOOD THING JUST GOT BETTER Slingshot MY17 Product 15 Enhancing the Cockpit Experience:NEW Premium Cut & Sew PPD seatsNEW High quality Rockford Fosgate speakers NEW Radio antenna Better receptionSignificant BOM & Weight Reduction-40 lbs vs MY16 NEW Accessory Opportunity Delivering the #1 Most Requested Product Feature: SLINGSHADEMSRP: Starting at $2,999 – LAUNCHES: Fall 2016 Orange Madness Turbo Silver NEW RACE INSPIRED SLRs: July 2016 Analyst
Building the Brand & Expanding Reach 2H Slingshot Activation 1.8 Turns- $5,250 GM/unit Showcase Celebrity Builds More Earned Media 1.8 Turns- $5,250 GM/unit REDLINE Industry Leading Programs “On Brand” MY17 Sturgis Showcase of Product & Partners Replace Slow Turnerswith Fast More Paid Media +82% YOY Media to Drive Awareness CAIN VELASQUEZ KID ROCK (SEMA) July 2016 Analyst 16
Apparel Product Development Grow PG&A Customer Engagement Largest Opportunity for Dealers & Polaris Motorcycles 17 Comfort & style optionsPerformance & technologyCo-brand partnershipsSlingshot vehicle weight reduction New “Slingshade” – October 2016 SOP Leverage Growing Installed baseDrive catalog strategyDirect mail new customersDrive digital downloadsSeasonal consumer promotionsCompelling spend / get promosInspiring seasonal content & product news Drive Growth through Power Items New CategoriesMade in America Line July 2016 Analyst
Great CX Delivers Excellent Word of Mouth Customer Experience 18 Driving From Shop To Buy1:1 Marketing is Reaching Target Consumers and Delivering SalesImplemented Website Enhancements to Capitalize on Changing Shopping BehaviorNEW Ratings & Reviews (live)NEW Inventory Search (coming after Dealer Show)NEW Trade in Valuator (coming in September)NEW Test online chat serviceNEW Dealer lead conversion trackerCreating a More Personalized Owner ExperienceExpanding Rider Groups to Build Community and Advocacy Direct Mail & Email Website Ratings & Reviews Website Inventory Search July 2016 Analyst
Dealer Count N.A. Current Int’lCurrent ~190+ retail/~230 signed ~170 ~430 ~100 ~475 ~100 Growing our Motorcycle Dealer Network Developing The Right Distribution For Profitable Growth & The Desired Customer Experience 19 July 2016 Analyst
Huntsville Motorcycle Operations Significantly expanded capacityGreater in-house capabilitiesBetter processes, Cost Down through Lean 20 Spirt Lake/Spearfish RFM Stable & Reliable Stable, Consistent QualityDramatic improvement in paint capabilities/capacityBetter processes, Cost Down through Lean July 2016 Analyst
Motorcycle Profitability 21 Relentless Attack on Profitability Aggressive Product PlanRobust PGA BusinessLeverage Growing ScaleIntegrate Suppliers in Margin ExpansionLean Tools & Standard Work July 2016 Analyst
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING Q&A Steve Menneto President – Motorcycles
GLOBAL ADJACENT MARKETS Bob MackSVP – Corporate Development and Strategy &President – Global Adjacent MarketsJuly 26, 2016 POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING
Strategic Objectives Vision & Strategy VISION Fuel the passion of riders, workers and outdoor enthusiasts around the world by delivering innovative, high quality vehicles, products, services and experiences that enrich their lives. STRATEGY Polaris will be a highly profitable, customer centric, $8B global enterprise by 2020. We will make the best off-road and on-road vehicles and products for recreation, transportation and work supporting consumer, commercial and military applications. Our winning advantage is our innovative culture, operational speed and flexibility, and passion to make quality productsthat deliver value to our customers. Best in Powersports PLUS Growth through Adjacencies 5-8% annual organic growth >$2B from acquisitions & new markets Global Market Leadership LEAN Enterprise is Competitive Advantage >33% of Polaris revenue Significant Quality, Delivery & Cost Improvement Strong Financial Performance Sustainable, profitable growthNet Income Margin >10% Guiding Principles Best People, Best Team Safety & Ethics Always Customer Loyalty Performance Priorities Growth Margin Expansion Product & Quality Leadership LEAN Enterprise >$8 Billion by 2020 12% CAGR >10% of Sales by 2020 13% CAGR Analyst Jul-2016 2
Global Adjacent Markets 3 Analyst Jul-2016 Build Existing Portfolio AND Identify Future Adjacent Market Opportunities Work & Transportation Polaris Defense Corporate Development People mobility, work utility, and industrial solutions to customers incremental for Polaris. Provide ultra-light tactical vehicles targeted at defense forces around the world. Use acquisition strategies to help drive Adjacent Markets to $2B goal. FOCUS Areas:Existing businessesAdjacent customersAdjacent channelsAdjacent products
Work & Transportation (W&T) Market Overview 4 Analyst Jul-2016 Growth Market – 5 Key Segments – Polaris Now Plays in 4 Market Size ~$4 Billion Fragmented Global View80% market in NA Europe & China grow faster than NA Brazil & India emerging Growth Drivers Demand for clean low cost vehicles: Rising fuel prices Gov’t regulations Environment Urbanization Key Success Factors High quality, innovative, low cost productsAfter sales service Distribution networkGlobal scale & brand Industrial Light Duty Haulers People Movers Golf / Turf EQC
Work & Transportation Competitive Landscape 5 Analyst Jul-2016 Fragmented Industry PLUS Traditional Powersports Competition Attractive dealer and distributor network; focused on commercial marketsPrimary business/product focus = price sensitive fleet golf buyerIncreased focus on non golf utility segmentsTextron consolidating with Cushman, TUG, Bad Boy, Douglas and Premier European LDH vehicles; Piaggio strong presence in IndiaLeverage automotive brand & distribution – limited product innovationLigier – aggressive with enclosed quadricycles (ECQ), #2 playerLeading niche players with strong presence in targeted verticalsNominal product innovation historicallyHighly fragmented distribution network presenceTraditional powersports players compete for rental, heavy duty ag, construction, landscapingKubota and Kawasaki most aggressive
Work and Transportation Strategy 6 Analyst Jul-2016 Pull Together Brands/Products to Bring Comprehensive Solution to Customers Create and acquire strong brands that offer products that meet all of our customer’s work and transportation needsDevelop an effective channel to sell and service the needs of commercial customersEstablish Polaris and our brands as the leader in product and technology solutions for workOptimize our global operations to maximize profitability and customer service across our varied businesses
Work and Transportation New Acquisition – Taylor-Dunn Top Participants Overview Product Overview What We Liked Taylor-Dunn (“TD”) designs and manufactures industrial and commercial burden carriers, personnel carriers, stockchasers, electric carts, tow tractors and other commercial vehiclesFounded: 1949HQ & Manufacturing: Anaheim, CAEmployees: 160 FTE Market/ competition: TD participates in approx. $200M global Market. Key competitors are EZ-GO/Cushman/TUG (Textron), Club Car, Motrec and Columbia ParCarDistribution: Taylor Dunn distributes most of its products through traditional industrial forklift dealers, direct sales to some large customersCustomers: Logistics, auto, energy, warehouses, manufacturing TD has strong, loyal dealer and customer network serving large industrial customers including a strong service network that can be leveraged for Polaris Work and Transportation productsComplimentary product line up allows Polaris/TD to offer customers full suite of vehicle solutionsProfitable Make-to-order business model where we can realize meaningful sales/distribution, product and cost down synergies Analyst Jul-2016 7
Work and Transportation Go-To-Market Plan 8 Analyst Jul-2016 One Face of Polaris Commercial to Simplify & Enhance Customer Experience Commercial Customer Colleges & UniversitiesMunicipalities/GovernmentFacility ManagementHotels & ResortsIndustrialRental & Construction Marketing Sales Service Product Portfolio Easy to navigate utility and people mover product portfolio designed for key applications Commercial Transport Work/Industrial Utility
Work and Transportation Integration Examples 9 Analyst Jul-2016 Products Channels E-Worker G3 G-Worker
Work and Transportation – Growth Drivers 10 Analyst Jul-2016 Positioned for Above Market Growth Autonomous Capability Advanced Battery and Charging Technologies Fleet Management and Ownership Models Growth Drivers Polaris Strategy Safety, consistency and speedLabor savingsIncreased access for those unable to operate a vehicle Increased power and rangeImproved reliability / lower maintenanceReduced size and weight Vehicle tracking and geo-fencingFleet managementSharing, subscription and rental modelsFirst and Last Mile vehicles Making our vehicles “autonomous ready” Partnerships with various start-ups and customersInternal development Li-ion available in GEM and Goupil products todayPartnering on development of a variety of new battery packs and charging options Leveraging overall Polaris Connected Rider capabilities for W&T productsPartnering on development / business models with various partners
Polaris Defense Established a new high priority military segment demanding ultra-light, off road ground mobility Responding to urgent need for rapid response, deep insurgency and expeditionary military missions Providing superior performance, affordability & sustainment Leveraging worlds largest off-road vehicle capability, platforms, span and technical experienceLeverage customer funding for improved mission solutions Silent drive, autonomous, connected soldier & route planning Analyst Jul-2016 11 Innovation & Application Engineering Drives Profitable Growth Soldiers and MRZR’s on C17 Exercise Anakonda, Poland, 2016
Speed and Mobility is an Overwhelming Tactical Advantage Air transportable, extreme terrain mobile, highly durable, affordable & sustainableDAGOR – up to 9 man, full mission gear, heavy weaponsMRZR - up to 5 man, full mission gear, light weaponsMATV – single soldier, mission gear Enhanced Tactical Mobility Will Continue To Drive Demand Analyst Jul-2016 12 MRZR and DAGOR in Operation “These vehicles significantly enhance what would otherwise be foot mobility. They change the dynamic and turn what would have been a 3 mile-per-hour operation into a 50 mile-per-hour operation.” Brigadier General Brian Winski, Deputy Commander of the 82nd Airborne Division Expanding the size and scope of our programs
13 Global Adjacent Markets Results Solid in 2016 Analyst Jul-2016 Global Adjacent Markets Outlook 2016 Objective 2016 Expectations 2016 Comments Revenue (incl. PG&A) Up Mid Teens % Solid Growth Expected Taylor-Dunn adds Incremental Sales Gross Profit(% of sales) ~Flat with 2015 Gross Margin OpportunitySales leverage, mix, expense management
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING Q&A Bob Mack Global Adjacent Markets
POLARIS INDUSTRIES INC. / Analyst Meeting July 26, 2016 Steve Eastman President – PG&A
FIRST HALF 2016 STRONG EXECUTION DESPITE REVENUE HEADWINDS Analyst 7-26-16 2 Accessory REVENUE-per-unit continues to grow New snow apparel line – strong dealer engagement Online driving omni-channel growth Distribution investments & lean driving productivity SMART transformation deployed to all dealers YOY Revenue Growth Up 4% YTD
FIRST HALF 2016 – SALES MIX 3 Analyst 7-26-16 PARTS MIX GROWING. DRIVING ACCESSORY REVENUE-PER-UNIT Product Type Mix Product Segment Mix Geographic Mix Accessories Parts U.S. Parts up mid-teens %Accessories down mid-single digits %Apparel up low-single digits % Growth in every segment U.S. up mid-single digits %Canada down twenty %International up mid-single digits % Adjacent Markets Motorcycle & Slingshot International
CORE STRATEGIC AREAS OF FOCUS 4 Analyst 7-26-16 CLEAR AND CONSISTENT STRATEGIC PRIORITIES 1 DRIVEPRODUCT INNOVATION 2 ACCELERATECONSUMER DEMAND 3 TRANSFORMRETAIL EXPERIENCE 4 DELIVERSUPPLY CHAIN EXCELLENCE 5 OPTIMIZELEAN ENTERPRISE
DRIVE PRODUCT INNOVATION 5 Analyst 7-26-16 PRODUCT INNOVATION / INTEGRATION COMPETITIVE ADVANTAGE Power Items Bundles New Product Top Selling Accessories~50% of Accessory RevenueEnd-to-End Execution Focus Tailored for Rider Applications4X Higher Acc’y Revenue-Per-Unit1H Bundle Revenue 2X vs. LY 435 New MY’17 Accessories“Polaris Engineered” AdvantageSignificant News in Every Category TRAIL DUNES
ACCELERATE DEMAND & RETAIL EXPERIENCE 6 Analyst 7-26-16 HIGH IMPACT INITIATIVES TO DRIVE RETAIL DEMAND AND CONVERSION Dealer Retail Execution Digital Tools Database Marketing Retail Execution Field SupportMerchandising SolutionsDealer Training Tools New ConfiguratorBuying Guides / Product Content>7 Million Annual Visits ~1.3M Installed Consumers (MY’11-’16)Direct Mail – New Owner PG&A CatalogSeasonal Promotions Conversion up 7bps Visits up 39% Revenue up 72%
OPTIMIZE LEAN ENTERPRISE 7 Analyst 7-26-16 ACCELERATED DEVELOPMENT CYCLES, EXECUTION EXCELLENCE, DATA LEVERAGE Product Lifecycle Sales, Inventory, Operations Planning Business Intelligence LEAN Lifecycle Management ToolSingle Source of TruthTracking & Exception Reporting Alignment of Sales & Inventory PlansImproved Demand Forecast ControlNew Product Launch Readiness Dealer Inventory and Retail DataIntegrated into Critical ProcessesData Science & Analytics Support 2013 2014 2015 2016 2017 2018 2019 DEALERS SHARING DATA
LEAN APPROCH TO PG&A SALES & RETAIL. LAUNCHED APRIL 2016 Benefits SMART Integrated seasonal consumer promotions (pull)Retail merchandising tools & training (conversion)Retail & inventory data integrated with order formShort / frequent demand planning cyclesOrders ship within 21 days Aligns with seasonality / promotional cadenceRight product – data-driven sales / ordering toolsRight time – shorter stocking cyclesImproved DC productivity / logisticsImproved dealer and PII inventory turns SMART (Stocking, Merchandising, and Retail Transformation) OldModel Q3 Q4 Q1 Q2 2016 2017Q1 SMART Order Ship / Retail Order Ship / Retail Order Ship / Retail Order Ship / Retail Order Ship / Retail Order Ship / Retail Order Ship / Retail Order Ship / Retail Order Ship / Retail Order Ship / Retail Order Ship / Retail 8 Analyst 7-26-16
DELIVER SUPPLY CHAIN EXCELLENCE 9 Analyst 7-26-16 IMPROVED SERVICE TO OUR DEALERS. CONTINUOUS SQDC IMPROVEMENT 1 2 3 4 SAFETY & PRODUCTIVITY PERFECT ORDER EXECUTION SUPPLIER MANAGEMENT INVENTORY OPTIMIZATION 2015 2016 PERFECT ORDER RATE* *AGGREGATE ORDER PERFORMANCE METRIC: Fill Rate, On-time Ship, On-time Delivery, Accuracy, Damage Rate
AFTERMARKET – FOUR KEY AREAS OF FOCUS 10 Analyst 7-26-16 EXTEND OUR COMPETITIVE ADVANTAGE 1 2 3 4 AMPLIFY BRAND POSITION PRODUCT & MARKETING STRENGTHEN E-COMMERCE DRIVE DEALER-DIRECT MODEL & CHANNEL DEVELOPMENT REDUCE SYSTEM-WIDE COSTSLEVERAGE PORTFOLIO
LEVERAGING AFTERMARKET DRIVING VALUE ACROSS THE BROADER PG&A PORTFOLIO Premier O.E.M. – Plastics Design / Manufacturing Klim – Apparel Center-of-Excellence Analyst 7-26-16 11 APPAREL CENTER-OF-EXCELLENCERigby, Idaho
LEVERAGING AFTERMARKET 12 Analyst 7-26-16 DRIVING VALUE ACROSS THE BROADER PG&A PORTFOLIO Strong aftermarket brandAlternative to OEM accessoriesIncremental consumer appealVolume / cost leverageIncreased revenue-per-unit SEATS DOORS WHEELS & TIRES LIGHTING
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING Q&A Steve Eastman President – Parts, Garments & Accessories
MIKE DOUGHERTYPresident – International ANALYST PRESENTATION JULY 26, 2016 POLARIS INDUSTRIES INC.
2016 International Revenue Growth YTD Latin America Fastest Growing Region LATIN AMERICA $39M+34% EMEA $238M+6% ASIA PACIFIC $56M-11% INTERNATIONAL $333M+5% July 2016 Analyst 2
Beat Financial Plan. Build business foundation for future. 2016 Overview EMEA Growing and on plan. ATVs & Slingshot under pressure. Opole utilization improving. EU Motorcycle market growing and Polaris gaining share. ORVs are stable. No significant impact by Brexit yet other than GBR FX. Russia rebounding. Latin America Polaris growth momentum continues led by Mexico ORV and Brazil MC. Brazil Macro economy showing signs or recovery. Asia Pac Australia has rebounded. Markets are stable. NZ struggling. China growing. Indian MC driving growth in India. Multix launched but retail still slower than plan. Product MY17 ORV: Strengthening Premium Position: RZR Turbo, RGR 1000, Ride Command. MY17 Motorcycle: Roadmaster and Chieftain infotainment Future: Investments in key International programs are on track. July 2016 Analyst INTERNATIONAL 3
Battling through key challenges INTERNATIONAL 2016 Challenges Multix Retail Slower Than PlanProduct IssuesRetail Financing ORV Profitability ATV competitionWeak EconomiesWarranty Slingshot Limited SuccessNiche ProductStill Learning July 2016 Analyst 4
Winning with RZR & Indian. Emerging Markets Foundation Growing. 2016 HIGHLIGHTS Motorcycle Growth Revenue +27% YTD Octane LaunchCKD Brazil ORV Results RZR #1 LineExceeding ExpectationsAUS, EU, Mexico BRIC Rev +33% Brazil +70%Russia +73%India +20%China +17% INTERNATIONAL July 2016 Analyst 5
GOING FORWARD
Going Forward – ORV / Snowmobiles RZR Focus #1 BusinessMexico, China, UAE Key MY17 Product Maximize Snow Russia Rebound Gain Share PGA Improve Profitability EU LocalizationReduce LogisticsImprove Mix PROFITABLY COMPETE IN OFF ROAD INTERNATIONAL July 2016 Analyst 7
Going Forward – Motorcycles Full Throttle EMEA Scout SixtyOctane MomentumAsia Expansion Drive PGA Indian Focus Strengthen BrandIncrease Rev$/unit Find Success France LeadsAsia HomologationMexico Expansion Drive Motorcycle Growth INTERNATIONAL July 2016 Analyst 8
Significant Cost Reduction Opportunity 2016 Overview Improve Poland Productivity Increased production volume and supplier localization Leverage speed and proximity to market with new EU specific limited edition models Streamline Global Logistics Consolidating distribution centers. Leveraging global scale. Reducing Inventory throughout value chain Reduce Operating Expenses Reorganization in EU, Australia and Medina yielding results Leveraging global marketing and engineering more effectively Leverage Global Operations More Effectively INTERNATIONAL July 2016 Analyst 9
Going Forward - Build Emerging Markets PROFITABLE GROWTH FOCUS - REVENUE TO $550M BUILD EMERGING MARKET FOUNDATION GROW BRIC SIGNIFICANTLY TRIPLE INDIAN MOTORCYCLE BUSINESS ESTABLISH MULTIX MOMENTUM INTERNATIONAL July 2016 Analyst 10
Continue Momentum. Beat Expectations. Build the International Foundation. 2016 2nd Half Plan WHAT ARE WE GOING TO DO? TOP LINE BOTTOM LINE TAKE COST OUT OF POLAND, LOGISTICS & OPEX FULL THROTTLE WITH INDIAN & RZRSTABILIZE & MAXIMIZE DEVELOPED MARKETS (EU & ANZ)AGGRESSIVELY BUILD EMERGING MARKET FOUNDATION PROFITABLY GROW REVENUE July 2016 Analyst 11 INTERNATIONAL
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING Q&A Mike Dougherty President – International
Snowmobiles Chris Wolf, Vice PresidentJuly 26, 2016 POLARIS INDUSTRIES INC. | ANALYST & INVESTOR MEETING
VIDEO
Global Snowmobile Industry Performance Snowmobile Industry Outlook Growth in Ultimate Segment Growth in Crossover and Rec/Ut Segments Industry Retail Units (5 yr CAGR +2% in N.A.; -3% in EMEA) Stable N.A. industry, but low snowfall drove decline last seasonRussia industry is weak, eroding EMEA volumePremium segments are growing fastestRegistrations remain healthy at 1.9M in North AmericaRider demographics are stable +5% 10/11 12/13 13/14 +12% +9% 14/15 15/16 -4% 11/12 -16% 3 July 2016 Analyst
Fastest Growing Brand Market Share Pts. Growth (Since MY’10 Pro-Ride Launch) Retail Sales % Growth (Since MY’10 Pro-Ride Launch) 4 July 2016 Analyst Outperforming the Industry Since 2010
Market Share (North America, Norway, Sweden, Finland) Polaris Performance Highlights During 15/16 Season Worldwide Share 12/13 Season 13/14 Season 14/15 Season 15/16 Season Gained market share in both North America and ScandinaviaDelivered highest North America market share in 13 years, and back to #1 in the mountainsStrong growth from new MY’16 RMK in the AXYS chassis. Continued gains in Crossover, Rec/Ute.Rapid Timbersled growth continues, with product and distribution expansion 5 July 2016 Analyst
Product News
Timbersled Trail and Rec/Ute MY’17 Product News by Segment Crossover and Mountain Generating Buzz with 8 New Models + 6 Limited Editions 7 July 2016 Analyst
Driving Dealership Traffic Best Partners and Athletes Marketing Leadership Industry-Leading Reach Building our Brands and Reaching New Customers Reaching New Audiences Through Partnerships Targeted Marketing & Sales Promotions Drive Retail Most Impressions & Engaged Fans 8 July 2016 Analyst
Growth Strategy Roadmap 1. Industry Leading Quality and Satisfaction Continuously, tangibly improving quality2. Product Innovation Expanded AXYS lineup performing well on snow and in the marketplace Timbersled product pipeline is strong3. Strong Marketing Support Growing, engaged fan base Best partners in the industry Playing to Win in One of the World’s Most Passionate Powersports Segments 9 July 2016 Analyst
Snowmobiles Summary Polaris Roadmap For Future Growth Overview Stable industry with extremely passionate ridersPolaris is gaining share in our core segmentsGrowing with new customers in new segments Industry leading rider satisfactionProduct innovation in sleds, bikes, G&AAggressive demand creation Reducing Shipments to Drive Dealer Inventory Down 1H 2015 1H 2016 FY 2014 FY 2016Implied Guidance $69M -3%$405M $418M -23%$53M Down mid-teens % FY 2015 Snowmobiles Revenue Including Snow-Related PG&A 10 July 2016 Analyst
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING Q&A Chris Wolf Vice President – Snowmobiles
Matt homanPresident – Off-road vehiclesAnalyst meetingJuly 26, 2016
AGENDA 1. Market and Polaris Overview 2. ORV Improvement Plan 3. ORV Vision 2 July 2016 Analyst
Market and Polaris Overview 1.
Polaris ORV Breakdown Sxs and North America remain most critical 7% SxS US Int’l CAN Mexico Poland Huntsville Roseau Revenue Region Manufacturing SxS #1ATV important NA continues to leadInt’l important long-term Huntsville liveRoseau/Mexico criticalPoland feeds EMEA 4 July 2016 Analyst
Industry trends 1H industry trends slowed in Q2 7% 5 Year CAGR ATV = Flat5 Year CAGR SxS = 10%2016 ATV 1H = down MSD vs. LY – weakened in Q22016 SxS 1H Estimate = up MSD vs. LY – weakened in Q2 5 July 2016 Analyst
Additional growth opportunities Large target groups exist 7% 6 Polaris Owners 2.3M TODAY FUTURE 4M Multi-Acre Homeowners 24% own ORV 26% own ORV 20K retail opportunity = 5 points of share 3M Intenderson PII.com 5M High-IncomeRec Enthusiasts RURAL LANDOWNERS RECREATION INTENDERS POLARIS INSTALLED BASE July 2016 Analyst
ATV SxS Value ATV, Utility SxS key drivers Utility SxS ATV value + youth ATV value Utility SxS Continued threat Market Share trends Targeted Competitive Activity Impacts Market Share 7 July 2016 Analyst
Competitive focus Select competitors and Segments gaining 7% Can-Am “L” models performing wellYamaha new Youth and “value” Kodiak ATV SxS Honda Pioneer – especially 1000ccKawasaki – Pro-FXT utility solidPolaris General – big gains in crossover 8 July 2016 Analyst
Polaris 1H What Happened The good news = our issues are in our control 1 2 Weakening Industry Polaris IssuesRecalls/QualityInventory Reductions Market Share Total $ vs. Plan: % Breakout 9 July 2016 Analyst
Polaris dealer inventory trend Over $100m of dealer inventory removed 7% -10% -8% 10 July 2016 Analyst
1H Summary: Key factors 1. We Didn’t Execute Well (Quality = Critical Example) 2. Need to Address Competition (Not Everywhere, But In Some Key Spots) 3. The Market Has Slowed (Particularly in Q2) Large Miss: Not That Complicated 11 July 2016 Analyst
ORV Improvement Plan 2.
1H moves to address 1H Laying the Groundwork for improvement 7% Reduced Costs Significantly Reduced redundancies, streamlined functionsSimplified Plans / Reinvested Simplified, cut non-value add plans, reinvested $ in advertising/promoReworked Product Plans Cut products, competitive pricing moves, more big vs. small future plansJumpstarted Big Internal Quality Focus Dedicated resources, leveraged top talent, design changes 13 July 2016
ORV 2H Summary 1. Attack with Product 2. Battle for Every Customer 3. Fight for Every Sale #1 Off-Road vehicle company in the world 15 July 2016 Analyst
2h plan Attack with product 1000 New! 900 500 New! -$1,200 New! BATTLE WITH SIGNIFICANT COMPETITIVE UPGRADE 16 July 2016 Analyst
2h plan Attack with product 168HP Ride command POWER, SUSPENSION, AGILITY + TECHNOLOGY 17 July 2016 Analyst
NEW! HUNTER EDITION NEW! GENERAL 4 1000 EPS NEW! TURF MODE Attack with product CONTINUE TO RIP SHARE WITH GENERAL EXPANSION 18 July 2016 Analyst
2h plan Attack with product STRONG NEWS ON SPORTSMAN Sportsman 1000 Sportsman 450 Ace 570 New! New! New! $6,999 19 July 2016 Analyst
2h plan Attack with product AGGRESSIVE PG&A LAUNCH PLAN For the masses 15 NEW Hunt, Utility, Ag 13 New Accessories 25 New Integrated w/New Sportsman 20
2h plan $3 MillionMore advertising +25% TV +56% DIGITAL COMPETITIVEtargeting Battle for every customer Proving Grounds Website Infomercials 15 Competitive Videos STRONG 2H MARKETING PLAN 21
2h plan Fight for every sale 1st EVER APP Competitive Offers biggest contest ever $3 MILLION IN PAYOUTS POWERFUL IN-STORE TOOLS 22
ORV Vision 3. July 2016 Analyst 23
ORV Vision #1 Off-Road vehicle company in the world The Undisputed Leaders of the Off-RoadWe Will Deliver Unmatched Product Innovation Unmatched ride, handling AND powersports technology Fastest new product life cycleWe Will Transform the Customer Buying Experience Best digital shopping, lead generation, and customer service after saleWe Will Turn Our Lean Enterprise into a Competitive Advantage RFM delivers competitive advantage in flexibility and cost Culture of continuous cost/waste reduction 24 July 2016 Analyst
ORV Summary 1. 1H Performance Poor 2. Rock Solid 2H Plan to Improve 3. Clear Vision to Win #1 Off-Road vehicle company in the world 25 July 2016 Analyst
Matt homanPresident – Off-road vehiclesQ&a
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING July 26, 2016 Ken PucelEVP – Global Operations, Engineering & Lean
Goal 2016 Performance (Safety, Quality, Delivery, Cost) Quality (Rework %) Safety (TRIR) Quality Performance Poor. Strong Performance in Safety, Delivery and Cost. Gross Value Improvement (Cost Down) Delivery Goal Product Capacity ATV Ranger RZR Snow Motorcycles Slingshot GEM TOTAL G G G G G G G Plant Delivery Huntsville Roseau Spirit Lake Milford Monterrey Opole Osceola TOTAL G G G G G G G G Polaris Total Recordable Injury Rate Warranty $ / Sales Materials Plants Logistics PG&A Indirect Materials Plants Logistics PG&A +36% VIP 2015 Actual 2016 Fcst G Analyst Jul2015 2
2016 Value Improvement Momentum 36%+ More Than 2015. Momentum in 2016 Will Fuel 2017 All Teams Contributing 2016 Progress 2015 2016 Fcst Solid Momentum across all areasMaterials Reductions (40%+ YoY)Negotiations and PWC “Should Cost” Engineering VAVEEngineering ORV De-ContentPlants (60%+ YoY) Spirit Lake and Plant VIP momentumLogistics (40%+ YoY) Leverage, Truck utilization, and Network OptimizationPG&A Pricing Optimization, Su
pply Chain ProductivityIndirect Initiatives PCs, Travel, Enterprise spend Materials Plants Logistics PG&A Indirect Materials Plants Logistics PG&A +36% 1,300+ Projects in VIP System 30+ Projects > $1M 305 Projects for 2017 already in hopper Analyst Jul2015 3
pply Chain ProductivityIndirect Initiatives PCs, Travel, Enterprise spend Materials Plants Logistics PG&A Indirect Materials Plants Logistics PG&A +36% 1,300+ Projects in VIP System 30+ Projects > $1M 305 Projects for 2017 already in hopper Analyst Jul2015 3 
Polaris Operations 2017-2021 Strategy Translating the Polaris Vision and Strategy into Operations action Analyst Jul2015 4
Operations Strategy Targets Best-in-Class Performance Polaris Operations 2017-2021 Strategy Vision: Polaris Operations will become a competitive advantage by achieving Best-in-Class performance in SQDC-Inventory-New Products. What 5 Year Success Looks LikeSafety: Achieve “Best-in-Class” Product Safety Continue “Best-in-Class” workplace safetyQuality: 25% improvement of key metricsDelivery: 40% shorter delivery timesCost: >$600 million Gross VIPInventory: 30% improvement New Products: Improved Safety, Quality, Delivery and Speed 5 Analyst Jul2015
Safety and Quality Systems Focus 6 Safety and Quality Improvements Will Be Driven By Improved Systems and Execution Polaris is focused on improving product safety and quality by improving our systems and execution. Measures of Success Quality System Focus Areas Measure Total Improvement Safety and Quality Events Faster ResponseRoot Cause Elimination Warranty Rate 15% Internal Rework 50% Supplier Quality 25% Net Promoter Scores Industry Leading Analyst Jul2015
Polaris Manufacturing Capacity 2017-2021 Polaris Manufacturing Will Lever Fixed Cost Over Period 7 Opole, Poland Spirit Lake, IA Huntsville, AL Roseau, MN Monterrey, Mexico Lean Transformation Continues ~ 60% ~ 80% Plants Aligned to Support Retail Flow Management (RFM) Spirit Lake capacity in place to support Motorcycle growth Drive Opole volume with EMEA targeted products Load Roseau: Vertical Integration / Insourcing Maintain Monterrey Leverage Ramp Huntsville to support ORV and Slingshot Growth Analyst Jul2015
Huntsville SOP Achieved May 31. Slingshot SOP Achieved July 6. 8 Huntsville: Building the Best Factory in Powersports Analyst Jul2015 Lean & Technology Enabler Production Status 2016 Production: 2 Lines Rangers/1 Line Slingshots KPI’s Comments Safety Implementing new LIFE Program Quality Validated and released ~1000 units Delivery 97% on time to schedule Cost Performing at budget Focus Area Improvement VIP Labor Productivity 8% Additional $12M+ VIP Technology Integration into Plant Network Lead Time Reduction 50% Backshop Velocity 33% Reduction in WIP 30+%
9 80% 10% 10% 3% 5% 1% Total Spend Net Rate of Improvement Global Operations 2017-2021 Cost Improvement Goals Materials Plants Logistics Category Global Operations and Engineering 3% Net Annual Improvement >$600M Gross 3% Rate of VIP Creates potential for 300-500 bps of gross improvements in Gross Margins Analyst Jul2015
Material Cost Improvement Increasing Material Cost Savings From 1.6% to ~3% Annually. >$400 Million Gross VIP. 10 2011-2015 2016-2021 ~3% 2016~3% AnnuallyImproved Quality Material Cost Drivers 1.6% Annually LCC/LCR Platforming Re-sourcing Design / VAVE Negotiation Commodity Leverage Localization Insource Material Cost Initiatives Analyst Jul2015
Manufacturing Excellence 11 Driven to Become the Undisputed, Best Manufacturer Achieve Best-in-Class performance in SQDCI by driving 5 key strategies and building upon 4 key enablers Five Strategies Delivering ~ $100 M of Gross VIP and 5% Net Annual Cost ImprovementQuality System ExecutionLean ManufacturingBest people, Best teamManufacturing Agility Benchmarking Best Practices 35% 20% 30% 30% Analyst Jul2015
Performance Improvement Snow (Dec ‘15) Weld (Nov ‘16) Periodic Cycle-time Reduction 56% 62% Walking Distance Reduction 29% 16% Reduction in Space 29% 33% Cycle-time / unit reduction time 12% 11% VWI Material Flow Snow Transformation Weld Transformation Goals/ Metrics LEAN in Polaris Plants – Recent Roseau Illustrative Example Lean Transformations Occurring Across Plant Network Hands On Plant Learning LEAN Analyst Jul2015 TransformationTransform workstations and get tools / materials into strike zone Standard WorkUse visual work instructions (VWI) to improve operator standard workLeader Standard WorkEstablishing cadence for leaders to coach and develop employeesCascading Goals and MetricsEstablish key standard metrics across organization across all levelsCycle Time ReductionEstablish tools such as Pro-planner to help better balance cycle time to Takt timeSetup ReductionReduce time required to switch from one product to another 12 ATV Assembly SXS Assembly Snow Assembly Weld Materials Tube Fabrication Injection Mold
PLANNING optimized logistics networksBUYING leverage logistics servicesOPERATING customer focused logistics Inbound to Manufacturing Outbound to DealersBENCHMARKING best practices and cost Key Logistics Strategies Inbound Truck Utilization On -Time Logistics Performance Logistics Performance Fundamental Improvement In Logistics 13 Logistics Gross VIP Logistics Net Performance Logistics Related Part Shortages Analyst Jul2015
Inventory Improvement 2017-2021 14 Improved Processes and Systems Will Drive Strong Inventory Performance Develop organization, processes & tools to drive ongoing rates of improvement in inventory performance. Inventory Turns Trend 30%+ Improvement Over Next 5 Years Supply Chain DesignLocalization & insourcingVendor managed inventoriesPLC & VHCSupplier ManagementPerformance & corrective actionSIOPProcess ImprovementsForecastingDesigned inventory optimizationSupplier lead times Lean Materials ProcessesRFM Material flow Optimization of planning process Design Execute & Sustain Plan Initiatives & Capabilities Goal: ~ $100 million Improvement in 2016 Analyst Jul2015
New Product Development Product Design Capability Focus Product Development Vitality Index Product Development Driving Innovation at Polaris Priorities R&D Investment % Contribution to Sales of Vehicles Introduced in Past 3 Years Analyst Jul2015 15 Product Development Systems for Safety and QualityProduct Innovation and Customer Focused TechnologyValue Improvement and waste reductionProduct Development for Global markets Safety Systems 
EngineeringSuperior Ride and HandlingExceptional Powertrains – Gas and ElectricVehicle style and ergonomicsElectronics and Software for the Rider ExperienceIntegrated Advanced Manufacturing Engineering
EngineeringSuperior Ride and HandlingExceptional Powertrains – Gas and ElectricVehicle style and ergonomicsElectronics and Software for the Rider ExperienceIntegrated Advanced Manufacturing Engineering 
POLARIS INDUSTRIES INC. / ANALYST & INVESTOR MEETING Q&A Ken Pucel EVP – Global Operations, Engineering & Lean