Random Question: Enough Demand for Additional Brands?

Of the total market they have their own slice. I think it's less topline, and more bottomline where they make the case.

It's because they avoid a part of the overhead and get plenty of synergies. None of them are for example running a full R&D besides KTM (or rather the group). That's a huge part of your budget. They also get synergies and letting gas gas be a year behind making use of over stock.

It's not the same as running 3 separate brands.

If street bikes are anything to judge by, European makers are not entering the dirt bike market to lose. Ducati will be expensive and will sell. Dirt bikes have become what hot rods and Tbuckets were thirty years ago, toys for middle aged financially comfortable dudes. Nobody wants or tries to sell dirt bikes to folks with student loans, child support payments, or is leasing a Hyundai.