On October 26, 2022, Harley-Davidson held its 2022 Q3 earnings name. How are issues going following the sudden manufacturing shutdown and provide chain hiccups earlier within the yr? From Harley’s account, issues are wanting higher than anticipated.
Harley reviews that in Q3, international bike shipments are up 19 p.c year-on-year over the identical interval in 2021. It credit this to sturdy restoration following the previously-mentioned manufacturing stoppage earlier within the calendar yr. Additionally, the corporate reported a 21-percent improve in total income over the identical interval in 2021. This quantity consists of reporting from each the Motorcycles division and the Financial Services division.
What about retail gross sales of Harley-Davidson bikes worldwide? The Motor Company reported 18 p.c progress year-on-year within the Asia-Pacific area, and gross sales declines of various share factors in all different markets.
In North America, bike gross sales had been down 5 p.c year-on-year in Q3 of 2022, as in comparison with 2021. In the Europe, Middle East, and Africa (EMEA) area, gross sales had been down 4 p.c. The Latin American market noticed the steepest gross sales drop of all, as numbers of bikes bought had been down by 27 p.c over the identical interval in 2021.
Still, these Q3 worldwide gross sales numbers symbolize a turnaround in fortunes from Harley’s Q2 2022 gross sales numbers. At its final report, the Motor Company famous a 23 p.c decline in worldwide gross sales. Contrast that with the Q3 2022 worldwide quantity, and it’s now all the way down to only a two p.c decline in worldwide gross sales.
Following Q3 of 2022, the year-to-date gross sales percentages, as in comparison with the identical interval in 2021, are as follows:
- North America: down 14 p.c
- EMEA: down two p.c
- Asia-Pacific: up 12 p.c
- Latin America: down 10 p.c
- Worldwide complete: down 9 p.c
These mixed outcomes led Harley to forecast a 5 to 10 p.c progress in bike income over the rest of 2022. It’s basing this prediction on expectations that its Q2 wholesale bike unit shortfall will proceed to be made up in This fall. Additionally, the corporate expects the provision chain hiccups beforehand skilled to proceed their stabilization pattern. It additionally anticipates a deceleration in inflation, which ought to positively impression the prices of each supplies and transportation logistics.
Source: www.rideapart.com