VICTORY Motorcycles is to be wound down, the firm's parent company Polaris has just announced.
The move is to allow the firm to 'narrow' its focus onto more profitable areas of the business, including Indian Motorcycle.
A statement just released by Polaris says it will 'immediately begin winding down its Victory Motorcycles brand and related operations'.
Dealers will be assisted in 'liquidating existing inventories' and parts will continue to be supplied for 10 years.
Servicing and warranty coverage will also continue.
Polaris Industries Chairman and CEO Scott 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.
"Since inception, our teams have designed and produced nearly 60 Victory models that have been honoured with 25 of the industry’s top awards. The experience, knowledge, infrastructure and capability we’ve built in those 18 years gave us the confidence to acquire and develop the Indian Motorcycle brand, so I would like to express my gratitude to everyone associated with Victory Motorcycles and celebrate your many contributions.”
According to the statement, Victory has 'struggled to establish the market share needed to succeed and be profitable'.
It says: 'The competitive pressures of a challenging motorcycle market have increased the headwinds for the brand. 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 added "This decision will improve the profitability of Polaris and our global motorcycle business, and will materially improve our competitive stance in the industry.
“Our focus is on profitable growth, and in an environment of finite resources, this move allows us to optimize and align our resources behind both our premium, high-performing Indian Motorcycle brand and our innovative Slingshot brand, enhancing our focus on accelerating the success of those brands. Ultimately this decision will propel the industry-leading product innovation that is core to our strategy while fostering long-term growth and increased shareholder value.”