Mike Botan / @Ride2ADV
Harley-Davidson’s (Harley) 2020 Q1 financial report shows that the moto manufacturer continues on hard times. For the full first quarter, U.S. retails sales fell 15.5% year over year. It’s U.S. heavyweight motorcycle market share fell 2.2 percentage points to fall to 48.9%.
Internationally, the story is even worse. International retail sales are down 20.7% year over year. And, in the first quarter, its European market share is only 7.6%. All up, motorcycle and motorcycle related products are down $100M year over year.
All of this is against a backdrop of four straight years of falling sales. Frankly, that’s pretty dire news for any company. And, the impact of COVID-19 will likely sour Harley’s financials for at least the next quarter as well.
The current management of Harley has to do something to chart a new course. Fast. They continue to face pressure from investors, including Impala Asset Management, over the MoCo’s finances and management. So with the rollout of its 2020 Q1 finances, the MoCo rolled out some fairly extreme measures to deal with its financial picture.
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