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Harley-Davidson Affirms Modest Sales Forecast
Harley-Davidson Inc. reports its net income in the second quarter dropped 15% to $300 million.
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Harley-Davidson Inc. reports its net income in the second quarter dropped 15% to $300 million. Consolidated revenue shrank 9% to $1.7 billion. Deliveries of its iconic motorcycles declined to 88,900 units from 90,200 in the same period in 2014.
The Milwaukee-based company blames the second-quarter decline on price cuts by competitors and the strong dollar, which makes its bikes more expensive overseas. It predicts sales in July-September will total 54,000-59,000 bikes compared with 50,700 in the same period last year.
Motorcycle shipments to dealers and distributors in the first half of 2015 fell nearly 5% to 164,800 units, and revenue dropped 6% to $441 million.
The company reiterates that deliveries are likely to grow 2%-4% this year (to 276,000-281,000 bikes) compared with the 4%-6% increase it forecast late last year.
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