Harley-Davidson had more bad financial news yesterday, with a report of a drop in third-quarter profits.
Profit and revenue were down from 2016’s Q3 numbers, and perhaps most worryingly for the Bar & Shield brand, worldwide sales numbers dropped 7 per cent from last year’s third quarter. That is mainly due to falling sales in the US, but H-D also saw international sales drop 5 per cent over last year’s Q3.
Considering that’s the business Harley-Davidson is trying hard to grow, this is not good news. In a conference call, the company’s chief financial officer said Harley-Davidson no longer expects international growth in the second half of 2017.
There could be one good reason for the slump: some customers might have been waiting to buy a new Softail. Those bikes should be available now, so maybe Q4 will see a boost in sales. Otherwise, this has to be concerning for Harley-Davidson, seeing as it’s been months since the company has seen any growth in its core US market.