Weak Industry Demand Halts Harley's Ability to Raise Shipment Outlook Despite Successful Promotions
There remains little to get excited about regarding top-line potential for wide-moat Harley-Davidson in 2019 as the heavyweight motorcycle market continues to struggle, with worldwide and U.S. retail sales both tumbling around 4% in the first quarter. The firm took 60 basis points of share (to 51.1%) in the United States, which made up 58% of global shipments in 2018, while ceding 160 basis points of share (to 8.8%) in Europe. International retail sales fell 3.3%, with declines across all region...Harley-Davidson is the parent company of Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The company's segments are: Motorcycles and Related Products, which consists of HDMC that designs, manufactures and sells Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise and services; and Financial Services, which consists of HDFS that is engaged in the business of financing and servicing wholesale inventory receivables and retail consumer loans, primarily for the purchase of Harley-Davidson motorcycles. HDFS also provides motorcycle insurance and protection products to motorcycle owners.
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