More Trouble for HD
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Cruiser
Joined: Jan 2008
Posts: 184
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More Trouble for HD
More trouble for Harley-Davidson
The motorcycle manufacturer's sales hit a wall this spring, deepening the gloom enveloping the iconic American company.
[Related content: recession, Harley-Davidson, manufacturing, economy, spending]
By Kim Peterson MSN Money
Spring is the most important time of the year for Harley-Davidson (HOG, news, msgs). It sells about a third of its bikes in April, May and June, analysts say, as the weather warms up and bikers itch to hit the road.
After the horrible year Harley has had, I can only imagine the company was hopeful for a miracle this spring. But that didn't happen. Analysts at UBS say retail sales at Harley plummeted 35% in April and May, according to Barron's.
The share price has been sliding since the beginning of May.
Last year at this time, the share price was nearly $40. It plunged below $9 in March, bounced back above $20 in May, and these days is lingering in the $15 to $17 range.
Friday, Citigroup cut its rating on Harley to sell. Barron's thinks the stock may have topped out in May.
The motorcycle manufacturer's sales hit a wall this spring, deepening the gloom enveloping the iconic American company.
[Related content: recession, Harley-Davidson, manufacturing, economy, spending]
By Kim Peterson MSN Money
Spring is the most important time of the year for Harley-Davidson (HOG, news, msgs). It sells about a third of its bikes in April, May and June, analysts say, as the weather warms up and bikers itch to hit the road.
After the horrible year Harley has had, I can only imagine the company was hopeful for a miracle this spring. But that didn't happen. Analysts at UBS say retail sales at Harley plummeted 35% in April and May, according to Barron's.
- Tell us: Would you buy a Harley?
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The share price has been sliding since the beginning of May.
Last year at this time, the share price was nearly $40. It plunged below $9 in March, bounced back above $20 in May, and these days is lingering in the $15 to $17 range.
Friday, Citigroup cut its rating on Harley to sell. Barron's thinks the stock may have topped out in May.
Outstanding HDF Member
Joined: Apr 2008
Posts: 3,140
Likes: 17
From: Wisconsin
It's been coming for a long time, the economy just pushed it over the edge. Now I agree, us old farts weren't keeping the MOCO in business and they needed a shot in the arm, so they went out and got a bunch of new buyers, call 'em yuppies, RUBs, newbies, posers, whatever, they saved the MOCO and us old farts just groaned and bitched about these "new bikers". Well, it is what it is, but it couldn't last forever. When the economy rebounds it will recover unless there is some new fad out there that becomes "cooler". That's when all the "new bikers" bail and the ones that don't care about being cool and can't live without riding provide a meager effort to keep HD afloat.
Seasoned HDF Member
Joined: Sep 2005
Posts: 5,072
Likes: 104
From: Prescott, AZ
I say its about time... I love my Harley, but as I stop in Dealers as I travel, I am amazed at how many dealers I still see that are listing thier bikes Above MSRP... they need to get with the times.....
Road Captain
Joined: May 2008
Posts: 533
Likes: 2
From: Oak Creek, WI
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Cruiser
Joined: Apr 2009
Posts: 203
Likes: 0
From: NH
I second this I was at my local dealer today and they have a CVO Road Glide on the floor and want $33,000 for a bike that MSRP's for $30,999 that just seems way high to me. Now if they would take $27,000 maybe we could work something out. LOL
Last edited by REVDOGGY; Jun 11, 2009 at 12:42 PM.
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