Harley-Davidson 3rd Quarter Results 2023
Harley-Davidson's third-quarter profit declined by 24% due to reduced consumer spending influenced by higher borrowing costs and inflation.
Harley-Davidson's third-quarter profit declined by 24% due to reduced consumer spending influenced by higher borrowing costs and inflation. Rising interest rates and inflation made customers more selective in their spending, focusing on essential items over big-ticket leisure purchases. While Harley-Davidson has maintained profit margins among its wealthier customer base, efforts to attract younger riders with more affordable had limited success.
The introduction of Nightster was set to replace the Sportster Iron 883, 1200 & 48 which was for the longest time the entry way into the Harley-Davidson brand. While the price point is as affordable as the competitors such as the Indian Scout sales remained sluggish.
Slowing demand and lower motorcycle shipments have led to a murkier outlook for the retail sector, reflecting a cautious consumer environment. Rival Polaris Inc. (Indian) also reported a 4% decline in sales, highlighting a potential downturn in the recreational vehicle industry. Harley's net profit fell to $198.6 million, or $1.38 per share, compared to $261.2 million, or $1.78 per share, in the previous year.
Want to learn more: https://investor.harley-davidson.com/news/news-details/2023/Harley-Davidson-Delivers-Third-Quarter-Financial-Results/default.aspx
Racing: King of the Baggers Harley-Davidson Factory Team 2024
King of the Baggers: Harley-Davidson Factory Racing Team Changes
The Harley-Davidson® Screamin’ Eagle® factory racing team is gearing up for an exciting 2024 MotoAmerica Mission King of the Baggers road racing series. Team riders Kyle Wyman and James Rispoli are set to take on the competition.
Kyle Wyman, a dominant force in the King of the Baggers, signed a new two-year contract with Harley-Davidson, bringing his impressive track record to the factory team. With seven wins in the 2023 season and 12 total race victories since the series' inception in 2021, he's determined to clinch the championship.
James Rispoli, known as "Hogspoli," fulfills a lifelong dream by joining the Harley-Davidson factory team. With two wins and strong consistency in 2023, he's ready to be a formidable contender.
These two riders are set to make an impact as the 2024 season promises 16 races over eight double-header weekends, making it the most demanding King of the Baggers season to date. Harley-Davidson fans have plenty to look forward to in the upcoming competition.