Harley-Davidson 2018 Q1 Report
Harley-Davidson reported its first quarter financial results of 2018, The Motor Company announcing decreased motorcycle sales in the USA and a sharper focus on building the next generation of Harley riders.
Harley says U.S. retail sales were down 12 percent, and worldwide sales decreased 7.2 percent, though international motorcycle sales were up 0.2 percent for the first quarter of 2018.
“We are pleased to deliver revenue growth on the heels of our recent product investments in Softail and Touring,” said Matt Levatich, president and chief executive officer, Harley-Davidson, Inc. “This, plus solid financial services segment performance and strong cash returns during the first quarter underscore our commitment to drive shareholder value.
“Our international markets returned to retail sales growth supporting our long-term objective to increase international sales to build the next generation of riders globally.”
To build this next generation of riders globally, Harley continues progressing on its 2027 objectives:
- Build 2 million new riders in the U.S.
- Grow international business to 50 percent of annual volume
- Launch 100 new high impact motorcycles, and do so profitably and sustainably
Looking ahead, Harley-Davidson plans to leverage its core business more fully and expand in new directions to accelerate value creation as it pursues its long-term objectives.
“Our view of the highly competitive global motorcycle market is grounded in a realistic assessment of risks, opportunities and capabilities needed to inspire ridership and grow our business,” says Levatich.
“Our data- driven insights compel us to enhance and accelerate our strategies to ensure we deliver on our long- term objectives as we build the next generation of Harley-Davidson riders.”
The company is currently refining its plans and this summer intends to reveal significant additional steps to improve performance and value creation through 2022.
Harley also discussed the following initiatives as it looks to build its rider base:
- Added to the long legacy of its Sportster motorcycle line with the introduction of the Iron 1200 and Forty-Eight Special models. The U.S. MSRP of the new models start at $9,999 and $11,299 respectively.
- Continued to grow the appeal of motorcycling by debuting Harley-Davidson Snow Hill Climb at X Games Aspen alongside ski, snowboard and other action-sports competitions.
- Increased brand access by adding new international dealers and new apparel and lifestyle boutiques in popular shopping areas in China and India.
- Welcomed riders and non-riders to celebrate freedom as the company recognizes 115