Friday, December 4, 2020

Tag: Builds Factory in Thailand

Harley-Davidson Spirals Down, Announces US Layoffs, Builds Factory in Thailand

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by Wolf Richter, Wolf Street:
Trying to manage a structural decline in a terrible industry.

Shares of Harley-Davidson (HOG) dropped 10{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in the morning after the company reported second-quarter earnings and were down nearly 6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} at the end of the day. Almost everything was bad.

Retail sales by its dealers in the US fell 9.3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in Q2, compared to a year ago, to 49,668 motorcycles. They were “down more than we anticipated,” the company said. And with “soft sales across most markets,” sales by its dealers globally fell 6.7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}.