ODI OPENED THIS PE BASED ON OWNER ALLEGATIONS THAT THE TRANSMISSION WOULD SUDDENLY AND WITHOUT WARNING, SPONTANEOUSLY DOWNSHIFT AND/OR LOCKUP.SINCE OPENING THIS PE, WE HAVE INTERVIEWED REPORTING OWNERS, TEST-RIDDEN SUBJECT MOTORCYCLES, MET WITH VICTORY MOTORCYCLE DEALERS AND REVIEWED POLARIS' RESPONSE TO OUR INQUIRY.BASED ON THE INFORMATION GATHERED, WE FIND THAT TRANSMISSION PROBLEMS ARE QUITE PREVALENT IN THE SUBJECT VEHICLES AND ARE CONTINUING.COMMONLY, OWNERS FIRST NOTE DEGRADED SHIFT PERFORMANCE (TYPICALLY FALSE NEUTRALS ON THE 2-3 UPSHIFTS, DIFFICULTLY FINDING NEUTRAL, HARSH 3-2 DOWNSHIFTS, ETC.)DEALERS TELL OWNERS THAT DEGRADED SHIFT PERFORMANCE IS NOT COVERED BY THE WARRANTY (BASIC AND EXTENDED), BUT THEY WOULD BE WILLING TO DISSASSEMBLE THE TRANSMISSION TO LEARN MORE.HOWEVER, OWNERS ARE ALSO TOLD THAT IF NO TRANSMISSION PROBLEM IS FOUND, THE OWNER WILL HAVE TO PAY FOR THE TRANSMISSION DISASSEMBLY.UNWILLING TO TAKE A CHANCE THAT NOTHING WILL BE FOUND (BASED ON DEALERS' CLAIMS THAT SHIFT DIFFICULTIES ARE DUE TO DEFICIENT OWNER OPERATION), OWNERS KEEP RIDING WITH SHIFT QUALITY ISSUES.IN SOME CASES, OWNERS CONTACT THE DEALER AGAIN WITH THE SAME RESULT.FINALLY, SHIFT QUALITY BECOMES SO POOR THAT SPONTANEOUS, UNINTENDED 3-2 DOWNSHIFTS OCCUR AND/OR THE TRANSMISSION (AND AS A RESULT, THE REAR WHEEL) LOCKS UP.AS RECENTLY AS LAST WEEK, POLARIS WAS OFFERING TO REPLACE A TRANSMISSION WITH THE MY 2003 VERSION, WHICH IS MADE BY A DIFFERENT SUPPLIER.THIS OFFER WAS/IS CONTINGENT UPON THE OWNERS PAYING LABOR CHARGES OF APPROXIMATELY $500-$700. TO LEARN MORE ABOUT THIS PROBLEM AND POLARIS' RESPONSES TO IT, WE ARE UPGRADING THIS INVESTIGATION TO AN ENGINEERING ANALYSIS.