Harley Davidson sinks low by 13% in Q3

 Harley Davidson sinks low by 13% in Q3

Nearly, the relative market for Harley-Davidson (motorcycles at least 601cc in relocation) were down in deals for Q3 2018, to the tune of 9.8% – however we should take note of that the brand represents generally 50% of this important market.

In that capacity, Harley-Davidson is revealing a 13.3% sales drop on bike retail deals in the United States (36,220 units), with global deals up 2.6% (23,006 units), both contrasted with Q3 2017. This implies Harley-Davidson’s aggregate deals are down 7.8% for Q3 2018, with 59,226 units sold.

Harley-Davidson Retail Motorcycle Sales

 

Vehicles

3rd  Quarter 9 months
2018 2017 Change 2018 2017 Change
U.S. 36,220 41,793 (13.3)% 112,019 124,777    (10.2)%
EMEA 10,543 10,078        4.6% 39,249 37,475      4.7%
Asia Pacific 7,433 7,457  (0.3)% 21,480 22,628       (5.1)%
Latin America 2,577 2,306      11.8% 7,652 7,003         9.3%
Canada 2,453 2,575 (4.7)% 8,340 8,763       (4.8)%
International Total 23,006 22,416        2.6% 76,721 75,869       1.1%
Worldwide Total 59,226 64,209   (7.8)% 188,740 200,646 (5.9)%

The U.S. 601+cc industry was down 9.8 percent in the third quarter compared to 2017. Harley-Davidson’s third quarter U.S. market share was 50.9 percent.  Harley-Davidson’s Europe market share was up 0.8 percentage point to 10.4 percent through September.

Motorcycles and Related Products Segment Results

 

$ in thousands

3rd Quarter 9 months
2018 2017 Change 2018 2017 Change
Motorcycle Shipments (vehicles) 48,639 41,662     16.7% 185,176 194,300 (4.7)%
Revenue  $1,123,945 $962,136     16.8% $4,013,013 $3,867,982      3.7%
   Motorcycles $821,670 $639,849     28.4% $3,144,796 $2,975,650      5.7%
   Parts & Accessories $212,406 $228,993  (7.2)% $612,495 $633,532 (3.3)%
   General Merchandise $58,266 $72,687 (19.8)% $183,520 $191,540      (4.2)%
Gross Margin 30.9% 28.5% 2.4 pts. 33.7% 34.2% (0.5) pts.
Operating Income $65,662 $17,352 278.4% $481,906 $571,250 (15.6)%
Operating Margin 5.8% 1.8% 4.0 pts. 12.0% 14.8% (2.8) pts.

Third quarter revenue from the Motorcycles and Related Products segment (Motorcycles segment) was up versus the prior year. Operating margin as a percent of revenue increased in the quarter compared to 2017 due to higher gross margin and lower SG&A as a percent of revenue.

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Akash Dolas

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