Harley-Davidson is still a work in progress

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Harley-Davidson, which continues manufactures motorcycles, sold all 387 LiveWires last year, its pricey all-electric offering, according to Bloomberg. It is a number I almost can’t believe since Harley aspires to sell tens of thousands of LiveWires, and it’s been out for a few years now. In other news, Harley said on Wednesday that sales in North America in the first quarter fell 5%.

Harley blamed supply chain issues, even though sales in Europe were up 28% from the first three months of last year, likely largely due to a agreement to cut Trump-era tariffs last fall. During this time, ssales in Asia increased by 16%and in Latin America, sales increased by 13%, in what appears to be the opposite results of what Harley CEO Jochen Zeitz wantswhich represents higher door-to-door sales.

Still, Harley did well overall. From Bloomberg:

The Milwaukee-based company posted earnings of $1.45 per share excluding certain items, slightly beating the $1.44 per share average of analyst estimates compiled by Bloomberg. Revenue for motorcycles and related products reached $1.5 billion, Harley said Wednesday, above the $1.3 billion forecast by analysts.

[…]

Harley left intact an earlier full-year forecast of revenue growth of 5% to 10% and operating margins of 11% to 12%, saying meeting those targets requires improved logistics. and chip supplies in the second half.

“Our teams continue to work through the impact of the current global supply chain disruption, and despite the challenging macroeconomic environment, we are optimistic for improvements in the second half,” the company said in a statement.

Our very own Bradley Brownell recently purchased a LiveWire, which is a good bike although overpriced, which is probably why sales are rubbish. Harley is also in the middle of spin LiveWire to participate in the Wall Street hype about electric vehiclesa plan of which I am quite skeptical, but good luck. Harley said on Wednesday that plan is “on track to complete in mid-2022,” so more work in progress, like Harley himself. Harley is either the most interesting automaker/motorcycle builder in the world right now, or maybe the least, given that it’s slowly dying and aspires, these days, to profit mostly from its heritage . That’s fine in the short term, but in the long term, Harley has a lot of work to do.

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