Not surprisingly, Harley-Davidson Inc continues to struggle with the weak U.S. economy. Its second-quarter profits fell 23% amid a steep drop in domestic sales. Shipments of motorcycles didn’t fall as much as the company had forecast in the spring, however, and results were better than Wall Street analysts had expected. Harley said second-quarter net income fell to $222.8 million, or 95 cents a share, from $290.5 million, or $1.14 a share,. Harley said it shipped 80,326 motorcycles to its dealers and distributors in the quarter, down 15.6% from a year earlier. The decrease is the result of the previously announced shipment reduction in response to ongoing weakness in the U.S. economy.
Harley-Davidson’s Net Falls 23% As Economic Conditions Hamper Sales
Published by July 18th, 2008 in Editorial and Events.7 Responses to “Harley-Davidson’s Net Falls 23% As Economic Conditions Hamper Sales”
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Big dip….not expected to be so sharp.
Actually I am surprised it isn’t bigger!
Could this be the next American Company sold out to foreign money? I wouldn’t be surprised!
They’ll be jointing Miller Beer and Bud
Judging from how packed with bikes the dealers are in my area, I think I’ll wait until next quarter before getting too excited; When was the last time you saw markdowns on new bikes? $1000 off sticker here…
My main dealer looks like a Chevy dealership- units parked 10 deep…..
OK,
So how exactly is MV supposed to fix this picture…????
-nicker-
tough news for the american hvy cruiser market. I hope they aren’t ‘too big’ to make it. there are others that will step up though. it is the nature of the business.