MINNEAPOLIS — Polaris Industries (NYSE: PII) announces, in conjunction with the U.S. Consumer Product Safety Commission, that the company is voluntarily recalling certain model year 2015 Ranger 900s due to faulty fasteners on a heat shield, which could cause the shield to fall off the vehicle, as well as certain model year 2017 Sportsman ATVs due to a potentially faulty electronic power steering unit. No injuries have been reported from any of the recalled units.
The model year 2015 Ranger recall covers 51,000 units and the model year 2017 Sportsman ATV recall covers a significantly smaller vehicle population of 3,800 units (approximately 2,300 of which are in dealer inventory). Both recalls were prompted by data from the Company’s enhanced post-sales surveillance capabilities, which gives Polaris the ability to rapidly identify product quality or safety issues in fielded vehicles. The repair costs for these recall repairs are not material and were contemplated in the Company’s full year 2017 earnings guidance issued in January. There have been fewer than 30 reported incidents involving the recalled vehicles. Parts are in stock and dealers are prepared to execute repairs, and Polaris expects downtime for riders to be minimal.
“The safety of our riders is Polaris’ top priority and we strive to ensure that our design assurance processes, manufacturing and supplier controls, post-sales surveillance and overall product quality programs are best in class. While our goal is zero defects in our products, there will probably always be situations in which recalls are required for consumer safety; however, we expect the quantity and complexity of our recalls to moderate as our capabilities improve,” stated Scott Wine, Polaris chairman and CEO.
Polaris will release its first quarter 2017 financial results on Tuesday, April 25, 2017, and will hold a webcast and conference call at 9:00 a.m. Central Time on the same day to discuss the results. The call will be hosted by Scott Wine, chairman and CEO; Ken Pucel, executive vice president – operations, engineering and lean; and Mike Speetzen, executive vice president – finance and CFO. A slide presentation and link to the webcast will be posted on the Polaris Investor Relations website at ir.polaris.com. To listen to the conference call by phone, dial 877-706-7543 in the U.S. and Canada, or 478-219-0273 Internationally. The conference ID is #45015868.