Harley-Davidson Profits And Sales Fall Again
Harley-Davidson's operating profits tumbled 45.8% for third quarter to the end of September 2017 - down to $68.2 million from $114.1 million.
The American motorcycle manufacturer continues to struggle with their declining domestic motorcycle market, as U.S sales drop 8.1%, although still slightly better than the industry as a whole, which is down 9.2%.
More worryingly though, global sales for third quarter to the end of September 2017 fell by 6.9% compared to the same period last year. Despite the grim figures, the company still expect to ship between 241,000 and 246,000 motorcycles by the end of the year.
Despite a slump in the U.S, Harley bolstered its market share in U.S to 53.1% in the 601cc-plus segment. Harley recently launched their new 2018 Softail models, and plan to release 100 new models over the next 10 years. But, questions remain over the company's new direction as the new softail range is proving divisive amongst older Harley fans who chastise the loss of the dyna. ,
President and CEO, Matt Levatich, remains confident however: “The continued weakness in the U.S. motorcycle industry only heightens our resolve and the intensity we are bringing to the quest to build the next generation of Harley-Davidson riders.Launching one hundred new high-impact motorcycles is a critical part of our 10-year journey, and the all new Softail line-up is a significant statement of our commitment.
“As the motorcycle industry leader – with dealer strength and rider passion and loyalty like no other – we believe we are uniquely positioned to build ridership and strengthen the sport of motorcycling. Not just in the U.S. but around the world. Our investments in new product and marketing are targeted to drive ridership growth. We have the strategies, plans and people to make it happen.”