Harley-Davidson has announced annual results, and the sales numbers for 2019 aren't very encouraging. The American motorcycle brand'...
Harley-Davidson has announced annual results, and the sales numbers for 2019 aren't very encouraging. The American motorcycle brand's worldwide sales declined 4.3 per cent with a total of 2,18,273 units sold worldwide. Even more worrying is the sales slowdown in Harley-Davidson's home market, the US. The Bar & Shield brand's sales in the USA fell by 5.2 per cent to 1,25,960 units in 2019, from 1,32,868 units in 2018, while international sales fell 3 per cent to 92,313 units in 2019, from 95,183 units a year ago. Harley-Davidson's 2019 sales in almost all global geographies are in the red, with the Asia Pacific region showing a slight glimmer of hope with 2.7 per cent growth.
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With 29,513 units sold in 2019 in the Asia-Pacific region, this is now Harley-Davidson's third most important geography in terms of sales, after the US market, as well as Europe, Middle East and Africa (EMEA). Sales in EMEA fell 5.4 per cent in 2019, down from 46,602 units in 2018 to 44,086 units in 2019. The Latin American geography also ended the year in the red, declining 3.9 per cent from 10,167 units in 2018 to 9,768 units in 2019. Harley-Davidson's sales declined the most in Canada, falling 7.7 per cent from 9,690 units in 2018 to 8,946 units in 2019.
On the financial side of things, Harley-Davidson reported an annual revenue growth of 5.5 per cent in 2019, up from $ 7,48,229 in 2018 to $ 7,89,111 in 2019. As part of the company's More Roads To Harley-Davidson program, the American brand intends to introduce a whole new range of motorcycles over the next few years, to generate a new generation of customers, both in US, and more importantly, in newer markets abroad, like the Asia-Pacific.
Later in 2020, Harley-Davidson is expected to introduce the Bronx Street Fighter, in a completely new segment, which is a departure from the company's tradition cruiser-styled motorcycles. The Harley-Davidson Pan America will be the brand's first adventure touring bike, and will be the brand's first foray into the segment. More important though, will be a new small motorcycle, developed with Chinese partner Qianjiang Motorcycle. The 338 cc Harley-Davidson will be based on the Benelli 302 platform, and will be manufactured in China, to be targeted at Asian markets.
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