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Harley-Davidson’s Profit Slips as Sales Slow
Harley-Davidson Inc.'s net income dropped 12% to $752 million in 2015, dragged down by a 1% drop in unit sales and a 4% dip in revenue.
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Harley-Davidson Inc.'s net income dropped 12% to $752 million in 2015, dragged down by a 1% drop in unit sales and a 4% dip in revenue.
The Milwaukee, Wisc.-based motorcycle maker delivered 264,600 bikes last year compared with 268,000 in 2014. Volumes were down in all major markets except Asia, where sales climbed 7%.
Net earnings in October-December plunged to $42 million from $75 million a year earlier. Revenue for the quarter slipped 2% to $1.2 billion, and unit sales declined 1% to 46,900 units in spite of an 8% jump to 8,800 units in Asia Pacific.
The company predicts it retail sales this year will grow 1%-3% to 269,000-274,000 bikes.
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