Harley-Davidson on Tuesday reported an unexpected quarterly loss due to disruptions caused by the coronavirus pandemic, sending its shares sliding more than 9 percent in morning trade.
It also unveiled a restructuring strategy that aims to shift focus back to more profitable motorcycles and core markets such as the US.
Harley has been struggling for years to grow sales beyond baby boomers. The company has not posted retail sales growth in the US, its biggest market, in the past 14 quarters.
The pandemic has exacerbated its challenges.
In the latest quarter, U.S. retail sales plunged 27 percent year-on-year, the steepest fall in at least six years. Overall, motorcycles revenue dived 53 percent year-on-year to $669 million, hurt by the temporary suspension of production due to COVID-19 related lockdowns.
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7 comments:
40k for and American assembled Chinese motorcycle is what has caused the tank. I toured the factory. They may be assembled in york Pennsylvania but the parts are made in china.. even the motors are assembled in Milwaukee with Chinese parts..
If HD wants to be profitable again and gain another generation of buyers they need to lower their prices at least 25%. The Harley Davidson fad is over, and the market has been saturated for several years. The younger generation can barely pay rent much less buy a new $12,000-30,000 toy. I don't understand how their executive officers can't see the real facts.
Liar
great points
I know a lot of people who have bought bikes recently. You can buy a nice used bike for around 8k.
Bikes are way overpriced and all you are paying for is a name that no longer has any prestige. For half the price, I can get a great Honda or Kawasaki motorcycle with the same or more features and doesn't leak oil and it won't bankrupt you to maintain it.
My 2003 Honda Shadow that I bought new for 5000, still looks and runs great with no problems except just normal maintenance.
oh my a Harley owner that doesnt want to hear the truth
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