New Delhi: U.S motorcycle manufacturer Harley-Davidson in a media release said that in the first quarter 2017 the company’s retail motorcycle sales were down 4.2 percent compared to the same period in 2016.
Globally the company sold 55,049 units in Jan-March 2017 period as against 57,458 units in Jan-March 2017 period.
In next ten years, Harley-Davidson plans to sell over 2 million motorcycles in U.S alone and aims to grow its international business by at least 50% by introducing hundred new high-impact motorcycles by 2027.
The company expected the downfall as the Harley-Davidson retail motorcycle sales in the U.S. was down by 5.7 percent compared to the year-ago quarter, with the overall U.S. industry down for the same period.
Harley-Davidson’s U.S. market share for the quarter was 51.3 percent in the 601cc-plus segment, up compared to the first quarter in 2016. Harley-Davidson’s international retail sales decreased 1.8 percent compared to the same quarter in 2016.
“First quarter U.S. retail sales were in line with our projections and we remain confident in our full-year plan despite international retail sales being down in the first quarter,” said Matt Levatich, CEO, Harley-Davidson. “We are very pleased with our continued growth in U.S. market share and the progress our U.S. dealers made in reducing their inventory of 2016 motorcycles in the quarter.”
“We recently announced our plan to build the next generation of Harley-Davidson riders globally. We are energized by our focused strategy, and we believe our powerful brand and commitment to excellence will position us to drive demand for our products and grow our sport,” concluded Levatich.
The company said that its U.S. sales was hugely impacted by soft industry sales and the company’s decision to reduce shipments of model year 2017 motorcycles. This decision helped dealers focus on selling down their model year 2016 retail inventory.
International retail sales were down behind weak sales in Asia Pacific, partially offset by strong growth in Latin America. Retail sales in EMEA and Canada were both down as they compared against strong prior year growth of 8.8 percent and 16.3 percent, respectively.