Harley Falls Most Since 2008 After Cutting Shipment Forecast
- Motorcycle maker trims deliveries outlook by about 4%
- Marketing, product development efforts boosted by $70 million
Harley-Davidson CEO: No Plans for Value Product Line
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Harley-Davidson Inc., the biggest U.S. motorcycle maker, trimmed its shipments outlook again after competitor discounts cut into its sales. The shares fell the most in almost seven years.
Harley reduced its worldwide shipments forecast by 11,000 motorcycles to as few as 265,000, following a reduction in April to “protect the premium nature of our brand.” The company said its retail sales in the third quarter declined 1.4 percent, including a drop of 2.5 percent in its home market. has had to fend off Asian and European rivals that are capitalizing on the dollar’s strength this year to slash prices.