Harley-Davidson Motorcycle Sales Report
Harley-Davidson has reported declined sales and earnings for the third quarter of 2016, noting that only a few 2017 touring platforms with the new Milwaukee Eight engines came to market in September, the final month of Q3.
Worldwide, Harley motorcycle sales were down 4.5% vs. the same quarter of 2015. In the USA, sales were down 7.1 percent as the overall US motorcycle industry was down for the same period.
As for US market share, Harley controlled 52.3% of all motorcycle sales in the 601cc-plus segment, which was essentially flat compared to the same quarter of 2015. As for international motorcycle sales, they increased by 1%.
In the third quarter, Harley also reports a diluted earnings per share decrease of 7.2% to $0.64 compared to diluted EPS of $0.69 in the same period in 2015. Net income was $114.1 million on consolidated revenue of $1.27 billion compared to net income of $140.3 million on consolidated revenue of $1.32 billion in the third quarter of 2015, Harley reports.
“We continue to effectively navigate a fiercely competitive environment and an ongoing weak U.S. industry,” said Matt Levatich, president and chief executive officer, Harley-Davidson, Inc. “We are pleased with the positive results and the enthusiasm we’ve seen for our Model Year 2017 motorcycles, featuring the new Milwaukee-Eight engine. We are confident that the entire line-up will drive retail sales growth for the remainder of 2016 and position us well heading into the spring riding season next year.”
Harley says the Milwaukee-Eight engine packs innovative technologies that deliver improved horsepower, torque, and comfort and enhanced sound. It was introduced on Touring motorcycles in August as part of the Model Year 2017 product launch. Response to the new model year motorcycles drove increased retail sales in September over prior year.
“Our value as a company and as a brand is the sum of 113 years of commitment to our riders and the freedom seekers we will inspire to ride in the future,” said Levatich. “We remain intensely focused on growing the sport and delivering strong business results.”
