MILWAUKEE — Harley-Davidson's sales fell sharply in 2017 and the company will move ahead with a plan to consolidate manufacturing operations, including the closure of its Kansas City, Mo. plant.
The world's largest maker of heavyweight motorcycles has struggled to reverse a four-year sales slide, with growth overseas somewhat helping offset a decline in the U.S. bike market.
The Milwaukee-based company said its net income fell 82% in its fiscal fourth quarter to $8.3 million, compared with a year earlier. Earnings per share were 5 cents, down from 27 cents a year earlier. Revenue was $1.23 billion, up from $1.11 billion.
The earnings drop came in part because of a charge associated with President Trump's tax cut and a $29.4 million charge for a voluntary product recall.
Harley-Davidson worldwide retail motorcycle sales fell 6.7% in 2017 compared to 2016. The company's U.S. sales fell 8.5% and international sales were down 3.9%.
Harley has taken steps to counter what's been a prolonged downturn, including tightening motorcycle inventories.
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7 comments:
Bikes are way overpriced. You are just paying for a name.
Most people keep their bikes for years. I purchased my Honda back in 2003 and it still runs and looks great!
I can buy a practically new Honda or Kawasaki touring bike for half of what a Harley costs. Quality is just as good, but no where near the cost.
And some idiot wants to build a plant in Salisbury.
Going to take awhile to recover from 8 years of Obama but with president Trump we will.
Yeah, but every jerk that rides one will still be dressed from head to toe in Harley Davidson clothing every time you see them. I’ve never seen such a ridiculous cult. Big deal, you ride a Harley Davidson. That doesn’t mean you should wear clothes that say “Harley Davidson” every day, everywhere you go, for the rest of your life. Just a bunch of awkward adults dressing up like it’s Halloween every day. You’re not a motorcycle “gang member” and you’re not “tough” or “hardcore”. You work at McDonalds. Upsize me to a large and take that stupid bandana off. You look like an idiot.
Selling outdated 50 year old technology is not producing growth who would have thought? Overpiced fashion statement is what Harley Davidson stands for now.
10:12, I have owned a Kawasaki, a Honda and now two Harley's and let me assure you and everyone else that you have never owned a Harley in your life. In fact, you've never ridden a Harley because, like me, if you had you'd instantly realize riding a Harley is like comparing a VW Bug to a Lincoln Town Car and I'm not at all kidding. The ride difference is like night and day, Harley obviously being the much better ride. As for attire, my bikes speak for themselves. I don't need to dress to let people know I ride the best.
Put a tariff on foreign bikes. Make it cheaper to buy an inferior product.
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