™
T H E O N LY M A G A Z I N E F O R T H E W O R L D W I D E V- T W I N PA R T S , A C C E S S O RY A N D P E R F O R M A N C E I N D U S T RY
Harley sees new model,
anniversary and restructuring
benefits in third quarter
ARLEY-Davidson’s third
quarter fiscals (released
October 22nd 2013)
revealed improvements in
earnings, sales income and
motorcycle unit sales that had
Chairman, President and Chief
Executive Officer Keith Wandell
purring as the company starts to
bank the benefits of the
draconian measures that he
implemented on taking over as
CEO four years ago.
“Harley-Davidson had a great third
quarter, with strong financial
performance and retail sales growth,”
said Wandell.
“Rider response to the 2014
motorcycles we introduced in August
was extremely positive. In fact, initial
retail sales of the new ‘Project
Rushmore’ motorcycles sparked the
largest year-over-year new model year
sales increase in two decades.
“We also capped our year-long
110th Anniversary celebration in late
August when throngs of riders joined
us in Milwaukee from around the world
H
for a huge three-day party like only
Harley-Davidson can throw.
“Everyone at Harley-Davidson is
proud of our accomplishments and
results so far this year, as we continue
to see the benefits of our
manufacturing, product development
and retail strategies,” Wandell said.
Dealers worldwide are said to have
sold 70,517 new Harley-Davidson
motorcycles in the third quarter of
2013, compared to 61,053
motorcycles in the year-ago quarter. In
the U.S., dealers sold 48,529 new
Harley-Davidson motorcycles in the
quarter, up 20.1 percent, compared to
sales of 40,402 motorcycles in the
year-ago period.
In international markets, dealers
sold 21,988 new Harley-Davidson
motorcycles during the third quarter, up
6.5 percent compared to 20,651
motorcycles in the year-ago period,
with unit sales up 10.0 percent in the
Asia Pacific region, 1.6 percent in the
EMEA region, 15.6 percent in the Latin
America region [Europe, Middle East
and Africa], and 7.0 percent in Canada.
Motorcycle shipments (as opposed
to dealer sales) were said to be in line
with prior guidance and up by 2.3
percent on the year-ago period at
54,025.
Retail sales were said to be driven
by strong double-digit growth in the
sale of touring motorcycles following
the third-quarter launch of the
Company’s ‘Project Rushmore’ line of
revamped motorcycles.
Harley-Davidson says that it
continues to expect to ship 259,000 to
264,000 motorcycles to dealers and
distributors worldwide in 2013. The
Company continues to expect full-year
2013 gross margin of 35.25 percent to
36.25 percent.
The Company also says that in the
third quarter, it incurred restructuring
charges of just $0.6 million. HarleyDavidson continues to expect
restructuring activities initiated since
2009 to result in one-time overall costs
of approximately $485 million, of
which approximately $3 million will be
NOV 2013
ISSUE #172
NEWS
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