Harley-Davidson has sold many more children’s electric bikes than electric motorcycles

Harley-Davidson’s recent financial reports have shed some interesting new light on its electric motorcycle operations. Now we’re seeing more detail than ever about where Harley’s electric revenue is coming from.

As a reminder, Harley-Davidson first launched its LiveWire electric motorcycle in 2019.

Around the same time, HD purchased the StaCyc brand of children’s electric balance bikes, bringing them under the HD nameplate.

The Harley-Davidson LiveWire electric motorcycle was also sold under the HD label until 2021, when Harley decided to create a new sub-brand called LiveWire to encompass all of its electric products, from electric children’s balance bikes to full-size electric motorcycles. . .

The company’s latest financial reports now show us how much of Harley’s revenue came from the various electric models.

Turns out, these kids’ electric balance bikes cost a lot of money. Of total electricity-based revenue of $73.9 million for all of 2019, 2020 and the first nine months of 2021, HD earned $41.3 million from bicycle sales StaCyc electric balance boards.

A total of $29.9 million has been attributed to the sale of electric motorcycles, although this figure does not tell the whole story. Electric motorcycle revenue also includes $15.3 million in concessions HD has made to its dealers to invest in EV equipment, likely including the vast network of DC fast chargers now spread across HD dealerships. Including that $15.3 million, Harley-Davidson LiveWire electric motorcycle sales represent actual revenue of $45.2 million.

The reports also give us a better look at the number of LiveWires actually sold over that 33 month period. HD reported wholesale shipments of 1,942 units and retail sales of 1,648 units.

Sales figures from other electric motorcycle manufacturers are hard to come by. Zero Motorcycles, which is privately owned and does not publicly release financial reports like Harley-Davidson does, is estimated to sell several thousand motorcycles a year across nearly a dozen different models. Harley-Davidson has called the LiveWire “the best-selling electric motorcycle in the United States,” likely indicating that it feels it outsells any model in the Zero line.

Harley-Davidson announced late last year plans to go public with its LiveWire sub-brand through a SPAC that is expected to be completed by the end of the second quarter of this year.

Just this week we learned that LiveWire will unveil its next electric motorcycle model at the same time.

Electrek’s Grasp

Can’t say I’m not surprised here. Who would have thought that a balanced kid’s e-bike would outsell Harley’s 100+hp flagship e-bike?

But I can see how that makes sense. A kid’s electric bike is a much easier purchase to swing. And let’s face it, parents buy everything from their kids, especially if it means they can round up the juniors in their own favorite pastime.

So consider that these things are not cheap. StaCyc bikes start at $800 and go into the four figures. So there’s some serious revenue to be had there.

And finally, add to all of this the fact that e-bike sales skyrocketed once the pandemic started, which meant the shelves were always empty and many e-bikes went unobtainium for most of the last couple of years. years.

I know it sounds sensational to say “Harley has sold more children’s electric bikes than actual electric motorcycles”, and there will be a lot of beatings at the company for that. But that’s a bit off the mark. It’s not that HD’s electric motorcycles don’t have a future. It’s that they made a smart move buying StaCyc a few years ago (for around $6 million) and then cashing in heavily on those sales. At the same time, LiveWire continues to sell its full-size LiveWire One electric motorcycle (for which we don’t yet have sales figures reflecting the performance of the bikes under its new sub-brand label). LiveWire is also gearing up to roll out a more affordable mid-weight electric motorcycle soon that could prove hugely popular with more riders without the deep pockets required for the original HD LiveWire.

So I’d say the future looks pretty bright for HD’s LiveWire brand, both on its kids’ bikes and its full-size electric motorcycles.

via Milwaukee Business Times

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