okfine
Diamond Member
Motorcycle sales haven't been very good in the USA for quite awhile. 2019 sales for new bikes were flat. Millennial's aren't following their elders and the passion to ride. On or off road vehicles, they just don't buy them. March is usually the start of the year for MC sales. Covid 19 is hammering the industry, and that includes all manufacturers.
Another tough turn for motorcycles
Harley-Davidson's revenue fell almost 6% to $1.3 billion in the first quarter while net income plunged 45% year over year to $69.7 million, or $0.45 per share, as the COVID-19 outbreak sapped sales globally. "Retail sales fell significantly in the back half of March due to consumer concerns and approximately 50% of our dealers being temporarily closed for motorcycle sales in the U.S. due to COVID-19. ... International retail sales were down 20.7% in the first quarter as COVID-19 fears and dealer closures spread from Asia to Europe to Canada and Latin America," CFO John Olin said during a conference call with analysts.
The company sold just 40,400 motorcycles worldwide in the period, fewer than during the depths of the Great Recession. U.S. sales collapsed to just over 23,700 bikes, or less than 59% of the total.
Another tough turn for motorcycles
Harley-Davidson's revenue fell almost 6% to $1.3 billion in the first quarter while net income plunged 45% year over year to $69.7 million, or $0.45 per share, as the COVID-19 outbreak sapped sales globally. "Retail sales fell significantly in the back half of March due to consumer concerns and approximately 50% of our dealers being temporarily closed for motorcycle sales in the U.S. due to COVID-19. ... International retail sales were down 20.7% in the first quarter as COVID-19 fears and dealer closures spread from Asia to Europe to Canada and Latin America," CFO John Olin said during a conference call with analysts.
The company sold just 40,400 motorcycles worldwide in the period, fewer than during the depths of the Great Recession. U.S. sales collapsed to just over 23,700 bikes, or less than 59% of the total.
Harley-Davidson Motorcycle Sales Evaporate in Face of COVID-19 Pandemic | The Motley Fool
A quarter that could have shown promise now presages even worse results to come.
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