2023 Author: Eric Donovan | [email protected]. Last modified: 2023-05-21 15:44
Harley-Davidson keeps going into crisis. The cult manufacturer had to lower its profit forecast significantly and is also expecting difficulties in the coming year.
The US motorcycle manufacturer Harley-Davidson is on an ever steeper decline in view of the economic crisis. The previously strong European business is now showing sharp skid marks. The surplus plunged 37 percent to $ 167 million in the third quarter. Sales fell by almost eight percent. The cult manufacturer cut its profit forecast, which had already been significantly lowered. The problems would continue into next year, said Harley boss Jim Ziemer on Thursday, according to a statement in Milwaukee, Wisconsin.
Reduced production
Harley-Davidson delivered 74,700 motorcycles worldwide from its main brand in the third quarter, almost 14 percent fewer than a year earlier. Harley-Davidson sells a third of its motorcycles in countries outside the United States. In addition to the Harleys, the group also includes the US brand Buell and, more recently, the Italian classic MV Agusta.
For the year as a whole, the group expects a slightly reduced production of up to 306,000 units. Earnings per share are expected to be between $ 3.00 and $ 3.10, which is only at the lower end of the range mentioned so far. This would be up to 20 percent less than in the previous year. (dpa)
