Harley-Davidson Drops on Weak Results From High-Priced Bikes

Harley-Davidson Inc. slumped as much as 10%, the most intraday in nearly seven months, after the motorcycle maker posted lower sales in the latest quarter and indicated it faces soft demand for higher-priced bikes.

Retail motorcycle sales worldwide dropped 6% in the third quarter, including a 5% decline in the key North American market, the company said Tuesday. Revenue came to $1.34 billion for the three months, below a consensus estimate of analysts for $1.39 billion.