Harley-Davidson Q2 2017 Sales
Attributing “challenging marketing conditions,” Harley-Davidson says second-quarter motorcycle sales for 2017 were down 6.9% compared to the same period in 2016. Through six months, worldwide retail motorcycle sales were down 5.7 percent from the same period in 2016.
Due to market conditions, and a Q2 net income of $258.9 million versus $280.4 million in Q2 of 2016, Harley has lowered its expectations on shipping for 2017.
“Given U.S. industry challenges in the second quarter and the importance of the supply and demand balance for our premium brand, we are lowering our full-year shipment and margin guidance,” says Matt Levatich, president and CEO, Harley-Davidson.
In the U.S. alone, which Harley says is especially challenging, Q2 sales were down 9.3% compared to Q2 2016. The Motor Company says its U.S. market share in Q2 was 48.5 percent in the 601cc-plus segment.
International retail sales were down 2.3 percent compared to the second quarter in 2016.
“Our long-term strategy, focused on building the next generation of Harley-Davidson riders, is our true north. Our new product investment is one pillar of our long-term strategy to build riders globally and we are energized by the strength of our model year 2018 motorcycles coming later this summer,” says Levatich.
Harley announced a bold initiative shortly after Harley-Davidson reported its first quarter financial results. Harley reported it sold 55,049 motorcycles in Q1 2017, down 4.2% from Q1 2016.
As part of the report, Harley-Davidson also announced its 10-year growth strategy, which focuses on five objectives:
- Build two million new Harley-Davidson riders in the U.S.
- Grow international business to 50 percent of annual volume
- Launch 100 new, high-impact motorcycles, which begin with the new Street Rod and Road King Special
- Deliver superior return on invested capital for Harley-Davidson Motor Company (S&P 500 top 25%)
- Grow the business without growing its environmental impact