Driven by strong U.S. bike sales, Harley-Davidson reports a 40% revenue increase

jsonline2022-02-09

Higher demand for its most expensive touring and cruiser motorcycles helped Harley-Davidson Inc. report a 40% revenue increase Tuesday.For the three-month period ended Dec. 31, Harley’s revenue rose ...

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Bull1973
2022-02-09
Bull1973
?
cactuspot
2022-02-09
cactuspot
🚀
CET 789
2022-02-09
CET 789
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RADIUMRAVEN2
2022-02-09
RADIUMRAVEN2
Interesting
US_watchlist
2022-02-09
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In fact, they intensify going into the year,\" Zeitz said.Harley has doubled down on some of its most expensive motorcycles, including three-wheel bikes, that have higher profit margins. The company has slashed its bike-model lineup by around 40% and has pulled out of poorly performing international markets in order to focus on North America, Europe, and some portions of the Asia-Pacific region.The goal is to be in markets where the company believes it can achieve growth with the most profitable bikes.The company's Pan America adventure touring bike, launched a year ago, has become the No. 1 selling bike in its category in North America, according to Harley.\"We continue to see the potential for Pan America across the globe, especially in Europe,\" Zeitz said.In the recent quarter, Harley’s bike sales in North America, its largest market, were up 8% from a year earlier. Worldwide, sales were up 2% with decreases in the Asia-Pacific, Latin America and EMEA (Europe, Middle East and Africa) regions.For the full year 2021, Harley reported a 32% revenue increase and a record $415 million in operating income from its financial services division that makes loans to motorcycle buyers. The company’s worldwide bike sales were up 8%, driven by a 22% increase in North America.“Harley-Davidson delivered a strong finish to the year,” Zeitz said.He has been Harley’s CEO since early 2020. 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