Polaris Selling Indian Motorcycle Brand

[kballowe]

I remember when Polaris quit the jet ski business, and later ceased Victory motorcycle production.

Now they're selling off the Indian motorcycle brand.  Developing story.

https://www.cyclenews.com/2025/10/article/polaris-sells-indian-motorcycle-to-carolwood-lp/

[Perazzimx14]

I remember when Polaris quit the jet ski business, and later ceased Victory motorcycle production.

Now they're selling off the Indian motorcycle brand.  Developing story.

https://www.cyclenews.com/2025/10/article/polaris-sells-indian-motorcycle-to-carolwood-lp/

I have to wonder if this is get out of motorcycles while the gettin's good? Indian has done well with growth and product but is it sustainable in a dying market?

[Frulk]

Bought by a Private Equity Firm…

RIP Indian Motorcycles…

[blu guzz]

Private Equity Firms are very rarely good for the companies they buy.  I think the coming years will be hard to navigate for any company in any industry that sells goods that take disposable income (toys), but especially expensive ones.

[SemperVee]

 This was forecast approx 5 years ago when I saw the COO speak in an interview about the coming discontinuation of big high dollar cruisers.  I also was an original Victory MC owner.  Might work out for the best as stand alone brand or it's anyone's guess which way this company goes after changing hands so many times in the last 30 years.

[Motormike]

I suspect the Private Equity firm will polish Indian up and sell it off to some foreign manufacturer in India or China, most likely. Take the money and run, generally Private Equity playbook.  I bet the dealers are concerned. 

[kingoffleece]

The beginning of the end for Indian.

[SemperVee]

Recently there was talk of this at Harley Davidson and I believe they just sold off their credit arm to private equity.  We are just running out of old fat white guys who want air cooled driveway jewelry per the demographics. Myself included after having 14 HD's.   *If I were to partake again it would be an unmolested EVO road king if anything.

[TN Mark]

Yup, demographics, prices and interest rates have, for the most part, killed growth in the medium to large American motorcycle market. My ‘guess’ is that Polaris has lost millions on the Indian brand. Three consecutive quarters with losses typically result in the chopping block.

Neither Polaris nor this new company can ‘fix’ these issues. All they can do is ‘right size’ manufacturing to fit the demand. It sounds like the existing Polaris facility will still actually manufacture the bikes. And the Polaris Indian Engineering teams will now be on the new companies payroll.

Polaris didn’t sell their majority position because Indian was profitable. They simply can’t hide or excuse the losses any longer.

It’s very difficult to see how the new company can take on these huge expenditures and stay afloat in this market. If they could have, they likely would have bought the Indian brand in totality.

Just the expenses from the bagger racing was likely enough to sink Indian at Polaris.

[cliffrod]

Recently there was talk of this at Harley Davidson and I believe they just sold off their credit arm to private equity.  We are just running out of old fat white guys who want air cooled driveway jewelry per the demographics. Myself included after having 14 HD's.   *If I were to partake again it would be an unmolested EVO road king if anything.

That’s not all HD sold….

https://www.youtube.com/watch?v=Otl5KQBXVbE

[Shorty]

A lot of older guys are finding out that a small inexpensive bike is just as fun and easier to live with than a big heavy "touring" bike. My favorite Royal Enfield FB page has 24K members, with old farts from around the world chiming in. (Of course the owner of that page now rides a Guzzi and probably browses these pages )

[Stretch]

Bought by a Private Equity Firm…RIP Indian Motorcycles…

THIS!   ^^

Just last week, (or was it the week before? - can't remember, I'm retired now!  )
Indian came  to the local dealership with their big 18-wheeler full of bikes. I spent the
afternoon riding Indians.  I quite liked the Springfield. Have to be one helluva
deal to buy one in light of recent developments, though.

                                                            -Stretch

[rocker59]

Since most of you didn't read the article:

"Indian Motorcycle generated $478 million in revenue over the past year, accounting for about seven percent of Polaris’ total sales. The transaction is projected to boost Polaris’ adjusted annual EBITDA by approximately $50 million and its earnings per share by roughly one dollar. Polaris will retain a minority equity position in the new Indian Motorcycle company"

"Polaris CEO Mike Speetzen said the sale allows both companies to focus on their strengths, which for Polaris will reside in their four-wheel side-by-side and agricultural business."

"Carolwood LP, founded in 2014, specializes in acquiring and growing heritage consumer brands. Firm principal Andrew Shanfeld added, “We’re honored to help usher in its next chapter as an independent company and to support its continued growth as a symbol of performance and pride. At Carolwood, we target iconic brands that we can passionately impact. Indian Motorcycle allows us to do just that.”"

[rocker59]

The company I have worked for over the past 15-years has been owned by private equity firms during most of its life.  Private Equity does not always mean raiders who break up companies for the parts.  In most cases, the private equity firms specialize and can focus on building companies up.

I'm going to choose to be positive here.  Indian is a healthy motorcycle company.. Unburdened by its ATV-focused daddy, and with an injection of enthusiasm from its new majority stakeholder, the company will continue to succeed in the market.

[rocker59]

Carolwood LP acquires and repositions assets ripe for growth.

Guided by a focused strategy and hands-on expertise, we unlock the value of the businesses and properties we acquire.

Each investment is chosen to drive long-term growth for our partners and strengthen the communities we invest in.

https://www.carolwoodlp.com/

[JJ]

A lot of older guys are finding out that a small inexpensive bike is just as fun and easier to live with than a big heavy "touring" bike. My favorite Royal Enfield FB page has 24K members, with old farts from around the world chiming in. (Of course the owner of that page now rides a Guzzi and probably browses these pages )

2025 Moto Morini Calibro 700... (just sayin'...)

[draco_1967]

I am hopeful for the brand. I am still holding out for an awesome touring capable bike using the FTR motor. Something like an Indian version of the Pan America ST would be fantastic. The Scout 101 was tempting, because it was a beautiful bike, but the fuel range is a non-starter for me. That 1200 twin is amazing though!

[sdcr]

A lot of older guys are finding out that a small inexpensive bike is just as fun and easier to live with than a big heavy "touring" bike. My favorite Royal Enfield FB page has 24K members, with old farts from around the world chiming in. (Of course the owner of that page now rides a Guzzi and probably browses these pages )

I wouldn’t count Indian out, because most of their lineup is heavy, touring machines. I doubt that they are incapable of building lighter, better sport and touring bikes. They appear to be an innovative business, that can move with the market.

[kingoffleece]

I don't know.  In another life I worked at a huge firm on Wall Street.  All that corporate statement says to me is "we'll see what's best for our pocket" notwithstanding the occasional outlier.

As always, time will tell.  I wouldn't bank too much on $1.00 per share.  LOTS of ways to account for stuff.  LOTS.
Not a dig, mind.  Just my own experience.

[Perazzimx14]

2025 Moto Morini Calibro 700... (just sayin'...)

Italiasian

 

[Moparnut72]

I looked at a Sport Chief a few years ago. I went with a Triumph Bonneville and saved a pot load of money. I was reasonably happy with the Bonneville until the Mandello became available. Now the V7 850 is perfect.
kk

[davethewelder]

I hope Indian stays alive, maybe do ADV bike and a sport touring bike
.

[TN Mark]

Observations from a long time, and current Victory owner:

Polaris seemingly has some of the deepest pockets in the Powersports industry.

Polaris sold Indian because it was losing money. Period.

7% of sales accounted for nearly $500M.

They likely spent $800M to make that $500M.

A new start up equity firm with Mike the wonder CEO is now the savior of the Indian brand? Really?

There’s no way this new startup equity firm has the financial strength to do what Polaris couldn’t.

If Mike the wonder CEO is that good, Polaris could have simply hired him to run the Indian brand. They didn’t. Why, because their history with the Indian brand is that it lost too much money for too long.

Look, I want the Indian brand to thrive. I truly hope they do. But, I’m certainly not drinking any of the pure marketing Kool Aid (spin) they’re putting out about bailing on their second motorcycle brand.

[SemperVee]

 Being a former OG Victory owner it sure left a bad taste that they took the Victory technology and moved it over to Indian to upgrade the image of the often sold business.  Who got the name rights more often whether Norton or Indian is a toss up but who cares, right?  It will affect the Indian going forward and Pii has enjoyed a lift in the biz spin off.  I would not personally invest in a dying business and I am sure there is some "interesting"  generally accepted  accounting protocols in place for both companies. 

[Vagrant]

So what brands has this wonder company made successful.