American iconic motorcycle brand, Harley Davidson is seeing a year on year drop in revenue and this drop continues as worldwide motorcycle sales fell 6.7% to 39,311 units. This is the 8th quarter in a row that Harley Davidson has taken a sales hit in the United States (US).
But Harley’s weakness was the most pronounced in the U.S. market, where motorcycle sales declined 10.1% to 20,849 vehicles. On the top line, revenue from Harley’s motorcycle segment declined 6.6% this quarter to USD738.2 million, parts and accessories sales dropped 15% to USD142.2 million, and general merchandise revenue fell 18% to USD58.4 million.
But if Harley’s struggle to find growth wasn’t enough, the brand also also took a hefty USD55 million loss this quarter under its selling, general, and administrative expenses, related to two voluntary recalls.
Increasing competition from Japanese rivals with new street bikes and cruisers have been part of the reason coupled with better pricing and after sales.
