BOBCAT Posted July 14, 2005 Share Posted July 14, 2005 Quarterly Update to the Indian ® Motorcycle Community Sarasota, FL (July 1, 2005) - Greetings from Florida. I hope everyone is out enjoying their bikes and the summer weather. I’m looking forward to getting some good riding in over the upcoming Fourth of July weekend. I’m enjoying my 2004 Chief®, it is a great bike and has provided me the opportunity to ride with fellow Indian® riders and to get to know these products better. We believe the product is fundamentally sound, not to mention beautiful, and that these bikes represent a solid starting point for Indian. I enjoyed a great weekend at the Indian Rally at Indian Point in Branson, Missouri in May – what a turnout it was! It was great to see so many Indian riders out enjoying their bikes and each others’ company. I had the fortunate opportunity to address the attendees on Friday night, which provided a good opportunity for us to “get to know each other.” I will never forget the weekend as it was our first public event as the owners of Indian. The one thing that continues to inspire us is the loyalty and the enthusiasm of the Indian riders. We share your enthusiasm and your excitement about the future of Indian. As I indicated in Branson, the resurrection of Indian will not happen overnight, but it will happen, and it will be worth the wait. Thanks to everyone who made it to Branson, some from as far away as Hawaii (I trust they didn’t ride to Branson!). I enjoyed getting to know many of you into the wee hours of the morning and I look forward to getting to know the rest of you at future events. The best part about this business is the opportunity to create great Indian memories, including IRIP III next May! As you know, we’re in a Pre-Production Phase. Admittedly, it is not the most exciting phase, but it is the most important. We are obsessed with building quality products and quality products start with a rigorous engineering and testing program. There are issues that need to be resolved – and will be resolved – but it is genuinely difficult to predict exactly how long this phase will last. We plan to be in production in 2006, but whether it is early or late in the year will be determined by the duration of our engineering and testing efforts. We are confident that the results of this exhaustive process will not disappoint. We are working with a team of people that we believe were the most highly-regarded engineers at the former Indian Motorcycle Corporation in Gilroy, California. The fact that these talented people want to work with us is testament to their continued belief in Indian and in our ability to “get it done.” As the start of production (“SOP”) date is solidified over the coming months, we will then commence related activities, including rounding out our team, identifying and outfitting a plant, developing a dealer network, commencing parts and accessories operations, etc. All elements of the business will be integrated to ensure a smooth and robust commercial launch. In an effort to better understand the technical and design issues and satisfaction of Indian motorcycle owners, we designed and deployed a Chief owners’ survey in May. We were overwhelmed by the response rate, which approached 50%. We are presently focused on owners of 2002, 2003 and 2004 Chiefs in order to better understand the issues associated with the Powerplus™ 100 engine, as well as the Chief chassis. We are reviewing this feedback with our engineers to ensure our testing efforts are focused on the problems you have experienced in the field. I want to personally thank each of you for your participation in this survey, this information is invaluable and will ensure the bikes we build will be beautiful, reliable and fun to ride. We plan to survey Scout and Spirit owners next, so be prepared! Over the past several months, we’ve been methodically contacting Indian’s former suppliers, among other important activities. We have over 150 suppliers that hold the keys to our success. We will work with world-class suppliers who know how to build quality parts, at good prices and deliver them on time. As you can imagine, it is a significant undertaking to establish a working relationship with each of these suppliers. Given the proprietary nature of Indian’s products, suppliers generally don’t have inventory on hand and it will take time before the entire supply chain is production ready. We will continue to keep you up-to-date via www.indianmotorcycle.com on a quarterly basis. Thanks again for your patience, support, and interest in this great endeavor. Happy Fourth! Sincerely, David P. Wright President Indian Motorcycle Company Link to comment Share on other sites More sharing options...
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