MILWAUKEE – Harley-Davidson saw its third quarter sales in the U.S. dip 8.1 percent this year compared to a year ago, with worldwide sales down 6.9 percent from 2016. However, in releasing its Q3 results today, the company noted that overall motorcycle sales in the U.S. were off 9.2 percent and stated that its market share in the 601cc-plus segment rose to 53.1 percent.
“The continued weakness in the U.S. motorcycle industry only heightens our resolve and the intensity we are bringing to the quest to build the next generation of Harley-Davidson riders,” said Matt Levatich, Harley-Davidson president and CEO. “Launching one hundred new high-impact motorcycles is a critical part of our 10-year journey, and the all new Softail line-up is a significant statement of our commitment.”
Harley-Davidson reported U.S. sales of 41,793 units in Q3, down from 45,469 a year ago. Year-to-date, the company has sold 135,581 bikes in the U.S., an eight percent drop from the 135,581 sold in the first nine months of 2016.
“As the motorcycle industry leader – with dealer strength and rider passion and loyalty like no other – we believe we are uniquely positioned to build ridership and strengthen the sport of motorcycling. Not just in the U.S. but around the world. Our investments in new product and marketing are targeted to drive ridership growth. We have the strategies, plans and people to make it happen,” said Levatich.
Harley-Davidson cited “the impacts of hurricanes in the southeast and Texas” as contributing to the sales decline in the U.S. during the third quarter. Earnings per share “decreased to $0.40 from $0.64 in the third quarter of 2016. Third quarter net income was $68.2 million on consolidated revenue of $1.15 billion versus net income of $114.1 million on consolidated revenue of $1.27 billion in the third quarter of 2016.”
The company said it continues to expect to ship 241,000 to 246,000 motorcycles to dealers worldwide during 2017, which is a drop of approximately six to eight percent from 2016.
Photos courtesy of Harley-Davidson