But they are not going down without a significant fight.
The Motor Company’s US retail sales fell by 8.1% with a total drop of 6.9% retail sales worldwide compared to 2016 with a revenue decline around 10%. The company also expects to ship between 241,000 to 246,000 new motorcycles to it’s dealers this year. This reflects a 6-8% decline from last year.
While this news seems to be disheartening from such a large manufacturer, it should come as no surprise. HD has reported a drop in sales quarter after quarter in 2017. A quick look at their stock (HOG) shows a steady decline over the last 6 months.
However, Harley-Davidson isn’t down for the count just yet. In their Q3 announcement, Matt Levatich, president and CEO of Harley-Davidson, Inc. stated “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.” The Motor Company’s recent revamp of their model line up is an indicator of things to come as it looks to build the next generation of H-D riders.
In addition to new models, Harley-Davidson has also planning to add 2 million new riders in the same 10 year period. The company has launched smaller models like the Street 500 and 750 to entice new riders. H-D states they have trained over 51,000 new motorcyclist this year. As a matter of fact, my wife recently went through their Rider Academy course to learn how rider.
“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.