Thursday 14 December 2017

Harley revved up as profit soars on back of increased demand

Lucky souls whose preferred mode of transport is a Harley.
Lucky souls whose preferred mode of transport is a Harley.

Harley-Davidson has posted higher quarterly profit, lifted in part by a modest rebound in demand for its motorcycles in the US.

But the Milwaukee-based company does not anticipate a late surge in demand in the third quarter.

It continues to expect to ship 259,000 to 264,000 of its motorcycles to dealers worldwide in 2013, up from 247,625 bikes in 2012 and 233,117 in 2011.

The company's annual worldwide motorcycle shipment levels peaked at about 350,000 units in 2006, right before the US housing bubble burst and consumer demand for its bikes – which range in price from $8,000 (€6,050) to more than $30,000 – plummeted along with the broader economy.

Harley-Davidson's second-quarter profit rose to $271m from $247m a year ago. Sales and revenue rose just 3.4pc to $1.8bn. The results were better than expected.

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