Harley-Davidson Lacks Profits, Will Add New Models, CPO Program In Turnaround Plan



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Harley-Davidson reported a loss of 63 cents per share in the fourth quarter that disappointed Wall Street, which caused the stock to fall more than 17% on Tuesday. Analysts were looking for 10 cents a share on quarterly revenue of $ 788.2 million, which it also missed with a profit of $ 725.2 million, according to Zachs.

The Pan America is Harley-Davidson’s first adventure touring motorcycle.

The company made an annual profit of $ 1.2 million for 2020 as it moves forward with a five-year turnaround plan called The Hardwire that will focus on 10 key markets, including the United States, Canada, the Australia, New Zealand and several countries in Western Europe. .

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CEO Jochen Zeitz, during Tuesday’s earnings call, shared new details on the plan, which aims to make Harley-Davidson the “world’s most desirable motorcycle brand” and includes the implementation of ‘a certified used program.

Harley-Davidson recently eliminated several low-end model offerings and will be setting up a dedicated division to expand its line of electric motorcycles beyond the current Livewire.

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However, Zeitz said internal combustion engine models will boost the company for years to come and that a line of new mid-weight cruisers will be unveiled on February 22 alongside the production version of its upcoming Pan America. , which for the first time will put her in difficulty. against European and Japanese brands in the premium adventure touring bike segment.

The Associated Press contributed to this report

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