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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHarley-Davidson Profit Is Wiped Out by President Trump's Tariffs
Harley-Davidson Inc. broke even in the last quarter of a year in which the struggling American icon got caught up in President Donald Trumps trade wars. The results sent the motorcycle makers shares lower in early trading.
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Harley has more than tariffs to blame: U.S. retail sales tumbled 10 percent in the three months ended in December, the eighth consecutive quarterly drop. The company is having trouble attracting younger riders and is planning to offer cheaper bikes to reach new customers.
Retail demand dropped in Europe and Asia, sending worldwide sales down 6.7 percent. CEO Matt Levatich unveiled a turnaround plan in July that calls for 50 percent of sales to come from outside the U.S. by 2027.
Harley said in June it would move some U.S. production overseas to sidestep EU tariffs that jumped to 31 percent, from 6 percent. That drew the ire of Trump, who said hed back a boycott of the companys bikes.
Levatich is introducing as many as five electric models, including lightweight, urban bikes to target growth in Europe and India. Analysts think demand for Harleys first electric motorcycle, called LiveWire, will be limited because of its $29,799 price tag.
Read more: https://www.bloomberg.com/news/articles/2019-01-29/harley-profit-wiped-out-by-tariffs-as-sales-continue-slumping
malaise
(268,664 posts)is squander other people's money by one means or another.
He is an ignorant fool who knows nothing about anything. The worst part is that he thinks he's the smartest man on the planet because he has been allowed to get away with his criminality for decades.
Eugene
(61,805 posts)marble falls
(56,996 posts)rogue emissary
(3,147 posts)Maybe don't align your brand with a racist, misogynist, xenophobic idiot.