<SUBMISSION>
<ACCESSION-NUMBER>0000950137-02-001300
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20020315
<ITEMS>4
<ITEMS>9
<FILING-DATE>20020315
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>POLARIS INDUSTRIES INC/MN
<CIK>0000931015
<ASSIGNED-SIC>3790
<IRS-NUMBER>411790959
<STATE-OF-INCORPORATION>MN
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-11411
<FILM-NUMBER>02575711
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2100 HIGHWAY 55
<CITY>MEDINA
<STATE>MN
<ZIP>55340
<PHONE>6125420500
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1225 HIGHWAY 169 N
<STREET2>425 LEXINGTON AVE
<CITY>MINNESOTA
<STATE>MN
<ZIP>55441
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c68114e8-k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<TITLE>Current Report</TITLE>
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<P align="center"><FONT size="2"><B>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B>
</FONT>
<P align="center"><FONT size="2"><B>FORM 8-K</B>
</FONT>
<P align="center"><FONT size="2"><B>CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES<BR>
EXCHANGE ACT OF 1934</B>
</FONT>
<P align="center"><FONT size="2">Date of Report (Date of earliest event reported): March&nbsp;15, 2002
</FONT>
<P align="center"><FONT size="2"><B>POLARIS INDUSTRIES INC.</B><BR>
(Exact name of Registrant as specified in its charter)
</FONT>
<CENTER>
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        <TD width="36%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="29%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="29%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Minnesota</B><BR>
(State of Incorporation)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>1-11411</B><BR>
(Commission File Number)
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>41-1790959</B><BR>
(I.R.S. Employer Identification No.)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">2100 Highway 55<BR>
Medina, Minnesota 55340<BR>
(Address of principal executive offices)<BR>
(Zip Code)
</FONT>
<P align="center"><FONT size="2">(763)&nbsp;542-0500<BR>
(Registrant&#146;s telephone number, including area code)
</FONT>
<P align="center"><FONT size="2">&nbsp;</FONT>
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;4. Changes in Registrant&#146;s Certifying Accountant.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9. Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="c68114ex16.htm">Letter from Arthur Andersen LLP to the SEC</A></TD></TR>
<TR><TD colspan="9"><A HREF="c68114ex99-1.htm">Press Release</A></TD></TR>
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<!-- link2 "Item&nbsp;4. Changes in Registrant&#146;s Certifying Accountant." -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. Changes in Registrant&#146;s Certifying Accountant.</B>
</FONT>

<P><FONT size="2">On March&nbsp;15, 2002, the Board of Directors of Polaris Industries Inc. (the
&#147;Company&#148;) and its Audit Committee decided to no longer engage Arthur Andersen
LLP (&#147;Arthur Andersen&#148; or &#147;AA&#148;) as the Company&#146;s independent auditors and
engaged Ernst &#038; Young LLP (&#147;E&#038;Y&#148;) to serve as the Company&#146;s independent
auditors for the fiscal year ending December&nbsp;31, 2002.
</FONT>
<P><FONT size="2">Arthur Andersen&#146;s reports on the Company&#146;s consolidated financial statements
for each of the years ended December&nbsp;31, 2000 and 1999 did not contain an
adverse opinion or disclaimer of opinion, nor were they qualified or modified
as to uncertainty, audit scope or accounting principles. AA&#146;s report on the
Company&#146;s consolidated financial statements for the year ended December&nbsp;31,
2001 has not yet been issued, but it is expected to be issued on an unqualified
basis later in March 2002 in conjunction with the publication of the Company&#146;s
Annual Report to Shareholders and the filing of the Company&#146;s Annual Report on
Form&nbsp;10-K.
</FONT>
<P><FONT size="2">During the years ended December&nbsp;31, 2001 and 2000 and through the date hereof,
there were no disagreements with Arthur Andersen on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure which, if not resolved to AA&#146;s satisfaction, would have caused them
to make reference to the subject matter of the disagreements in connection with
their report on the Company&#146;s financial statements for such years; and there
are no reportable events as defined in Item&nbsp;304(a)(1)(v) of Regulation&nbsp;S-K.
</FONT>
<P><FONT size="2">The Company provided Arthur Andersen with a copy of the foregoing disclosures.
Attached as Exhibit&nbsp;16 is a copy of AA&#146;s letter, dated March&nbsp;15, 2002, stating
its agreement with such statements.
</FONT>
<P><FONT size="2">During the years ended December&nbsp;31, 2001 and 2000 and through the date hereof,
the Company did not consult E&#038;Y with respect to the application of accounting
principles to a specified transaction, either completed or proposed, or the
type of audit opinion that might be rendered on the Company&#146;s consolidated
financial statements, or any other matters or reportable events as set forth in
Items 304(a)(2)(i) and (ii)&nbsp;of Regulation&nbsp;S-K.
</FONT>
<!-- link2 "Item&nbsp;9. Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;9. Financial Statements and Exhibits.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; The following exhibits are filed with the document:
</FONT>
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        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">16</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Letter from Arthur Andersen LLP to the Securities and Exchange Commission
dated March&nbsp;15, 2002.</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">99.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Press Release dated March&nbsp;15, 2002.</FONT></TD>
</TR>
</TABLE>
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<P align="center"><FONT size="2">2</FONT>
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<!-- link1 "SIGNATURE" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURE</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on it behalf by the
undersigned, thereunto duly authorized.
</FONT>
<P><FONT size="2">Date: March&nbsp;15, 2002
</FONT>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%" align="right">
<TR valign="bottom">
        <TD width="100%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">POLARIS INDUSTRIES INC</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Michael W. Malone<BR>
</FONT><HR size="1" noshade><FONT size="2">
Michael W. Malone<BR>
Vice President &#151; Finance,<BR>
Chief Financial Officer and<BR>
Secretary of Polaris Industries Inc.</FONT></TD>
</TR>
</TABLE>
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<P align="center"><FONT size="2">3</FONT>
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<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2"><B>EXHIBIT INDEX</B>
</FONT>

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        <TD width="5%">&nbsp;</TD>
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        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
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        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">16</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Letter from Arthur Andersen LLP to the Securities and Exchange Commission
dated March&nbsp;15, 2002.</FONT></TD>
</TR>

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        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">99.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Press Release dated March&nbsp;15, 2002.</FONT></TD>
</TR>
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<P align="center"><FONT size="2">4</FONT>
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<DOCUMENT>
<TYPE>EX-16
<SEQUENCE>3
<FILENAME>c68114ex16.htm
<DESCRIPTION>LETTER FROM ARTHUR ANDERSEN LLP TO THE SEC
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<P align="right"><FONT size="2"><B>Exhibit&nbsp;16</B>
</FONT>

<P><FONT size="2">Office of the Chief Accountant<BR>
Securities and Exchange Commission<BR>
450 Fifth Street, N.W. 20549
</FONT>
<P><FONT size="2">March&nbsp;15, 2002
</FONT>
<P><FONT size="2">Dear Sir or Madam:
</FONT>
<P><FONT size="2">We have read the first four (4)&nbsp;paragraphs of Item&nbsp;4 included in the Form&nbsp;8-K,
dated March&nbsp;15, 2002, of Polaris Industries Inc. to be filed with the
Securities and Exchange Commission and are in agreement with the statements
contained therein.
</FONT>

<TABLE cellspacing="0" border="0" cellpadding="0" width="55%" align="right">
<TR valign="bottom">
        <TD width="100%">&nbsp;</TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">Very truly yours,</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/  Arthur Andersen LLP<BR>
</FONT><HR size="1" noshade><FONT size="2">
Arthur Andersen LLP</FONT></TD>
</TR>
</TABLE>
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<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="83%">&nbsp;</TD>
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<TR valign="bottom">
        <TD valign="top"><FONT size="2">cc:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Thomas C. Tiller,<br>
Chief Executive Officer<br>
and President, Polaris<br>
Industries Inc.</FONT></TD>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>c68114ex99-1.htm
<DESCRIPTION>PRESS RELEASE
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<P align="right"><FONT size="2"><B>Exhibit&nbsp;99.1</B>
</FONT>

<P align="center"><FONT size="2"><B>Polaris Industries Appoints Ernst &#038; Young LLP as Auditor</B>
</FONT>

<P><FONT size="2">Contact: Richard Edwards<BR>
Polaris Industries Inc.<BR>
Ph: 763-542-0500
</FONT>
<P><FONT size="2"><B>MINNEAPOLIS (March&nbsp;15, 2002) </B>- Polaris Industries (PII:NYSE) today announced
that its Board of Directors has appointed Ernst &#038; Young LLP as the company&#146;s
independent auditors for the year ending December&nbsp;31, 2002.
</FONT>
<P><FONT size="2">The appointment of Ernst &#038; Young was made after careful consideration by the
Board of Directors, its Audit Committee and the management of the company and
concludes an extensive evaluation process. Ernst &#038; Young replaces Arthur
Andersen LLP as the company&#146;s independent auditors. The decision to change
auditors was not the result of any disagreement between the company and Arthur
Andersen on any matter of accounting principles or practice, financial
statement disclosure, or auditing scope or procedure. During its seven-year
tenure as the company&#146;s outside auditors, Arthur Andersen has provided high
quality audit services with a high degree of professionalism, and Polaris has
valued its relationship with Arthur Andersen.
</FONT>
<P><FONT size="2">Polaris designs, engineers, manufactures and markets snowmobiles, all-terrain
vehicles (ATVs), Victory motorcycles, watercraft, and the Polaris RANGER for
recreational and utility use with annual 2001 sales of $1,512.0&nbsp;million.
Polaris is the largest snowmobile manufacturer in the world, and one of the
largest U.S. manufacturers of ATVs and watercraft. Polaris enhances the riding
experience with a complete line of PurePolaris apparel, accessories, and parts
available at Polaris dealerships. Consumers can also purchase apparel and
vehicle accessories around the clock online at www.polarisindustries.com. The
Polaris Professional Series, a line of heavy duty Workmobiles, targeted at lawn
and landscape companies, equipment rental companies and construction
operations, marks Polaris&#146; expansion into the commercial equipment marketplace.
Polaris Industries Inc. trades on the New York Stock Exchange and Pacific Stock
Exchange under the symbol &#147;PII,&#148; and the company is included in the S&#038;P
SmallCap 600 stock price index.
</FONT>

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