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Bonhams has acquired online auction site The Market

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from https://www.bonhams.com London – Bonhams announces it has acquired The Market, one of the leading and fastest growing online marketplaces for classic and collectible car and motorcycle auctions. Founded in Oxfordshire in 2017, The Market has taken the industry by storm. In the last year, the company sold vehicles with a total value of £13 million and grew its turnover by almost 300% compared to the previous year. Its success lies in its technology, transparency, and customer service, which led to exceptional auction results: the company now sells an impressive 94% of lots offered for sale. The acquisition adds another dimension to Bonhams. Founded in 1793, and one of the oldest and most venerable international auction houses, it has salerooms in London, New York, Los Angeles, Paris, and Hong Kong. Its Motoring Division, headed by Maarten ten Holder, is the premier auction house for motor cars and has sold many of the legends of road, including the world’s oldest surviving Rolls-Royce. Maarten ten Holder, Managing Director of Bonhams Motoring, said: “This acquisition is a perfect fit for Bonhams and is happening at an exciting time in the car auction world. For the first time a classic car auctioneer will now offer cars at all price points, around the clock, to collectors wherever they are in the world.” Bruno Vinciguerra, Bonhams CEO, added: “Bonhams is renowned globally for its heritage and entrepreneurial spirit, its expertise, transparency, and great client service, and these are all qualities also at the heart of The Market’s operations. This combination will play to both our strengths and allow us to become even more accessible to a wider range of clients. I am very excited about the future.” Tim Joslyn, Founder of The Market, said: “I am delighted that Bonhams will be taking The Market to the […]

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Harley-Davidson’s renewed focus on touring bikes drives upbeat forecast

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by Reuters from https://www.investing.com U.S. motorcycle maker Harley-Davidson (NYSE:HOG) on Monday reported a better-than-expected quarterly profit and raised its full-year forecast for sales growth, as its focus on bigger and profitable touring bikes boost demand, sending its shares up more than 8%. Since the middle of last year, the Milwaukee, Wisconsin-based company, which has struggled to grow sales for the past several years, shifted its focus to big bikes, traditional markets such as the United States and Europe, and older and wealthier customers. In February, the motorcycle maker unveiled a new turnaround plan that targets low double-digit earnings growth through 2025. The company said its retail sales, a measure of demand at its dealerships, surged 30% to 32,800 motorcycles in North America in its first quarter. Retail sales in Europe, Harley’s second biggest market outside the United States, slumped 36% to 4,900 motorcycles, due to the company’s decision to stop selling its smaller and less profitable Street or Sportster motorcycles and shipping delays as a result of the COVID-19 pandemic. The company said lower sales incentives and a cut in its selling, general and administrative expense lifted its motorcycle business operating margin by over 10 points to 18.5%. It now expects motorcycles business revenue to grow in the range of 30% to 35% in 2021, up from its prior estimate of between 20% and 25%. Harley’s net income jumped over threefold to $259 million in the quarter ended March 28, from $70 million a year earlier. On an adjusted basis, the company earned $1.68 per share, beating analysts’ average estimate of 88 cents per share, according to IBES data from Refinitiv. The company’s revenue rose to $1.42 billion from about $1.30 billion.

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10 Best Motorcycle Companies in the World

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by Qasim Aslam from https://www.insidermonkey.com Which big players are ruling the motorcycle industry? This article is going to tell you about the 10 best motorcycle manufacturers in the world right now. 10. Indian Motorcycle/Polaris Inc. (NYSE: PII) Polaris claims to be America’s first motorcycle company as it traces its origin back to 1901. It was established by an accomplished Bicycle racer George M. Hendee with the name of Hendee Manufacturing Company and established its first factory in downtown Springfield, USA in 1901. The company produced motorcycles for US Army during World War I. The name Hendee Manufacturing Company was changed to ‘The Indian Motorcycle Company’ in 1923. The company was closed in 1953 and several attempts failed to restart production until it was reborn with the name ‘Indian Motorcycle’ when Polaris Industries acquired it in 2011. It has over 300 international dealers in addition to a network of over 200 dealers in North America. Total sales of Indian Motorcycle and Polaris Slingshot in 2020 totaled 330,000 units. North America is the biggest market for them, where they sold 190000 units. Indian Motorcycle currently competes only in three segments of the motorcycle industry that are cruiser, touring, and standard motorcycles and so far they do not offer sports bikes. Their bikes are known for heritage-inspired designs, premium suspension, and beautiful styling. The most popular model of Indian Motorcycle is no other than ‘Scout’ as currently it is the finest cruiser bike in the motorcycle market. 9. KTM Industries AG Inhaber-Aktie (XSTU: KTMI.SG) KTM is currently the largest producer of motorcycles in Europe. The Austrian company which traces its origin from an engine repair shop in Austria made its first motorcycle in 1953. KTM went bankrupt in 1991 and was restructured in 1992. Now, KTM is jointly owned by Pierer Mobility AG

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Ford CEO Jim Farley nominated to Harley-Davidson board of directors

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by Phoebe Wall Howard from https://www.freep.com Ford CEO Jim Farley, owner of two classic Harley-Davidson motorcycles, has agreed to serve on the board of the Milwaukee-based company. The director nomination was submitted Friday by the motorcycle manufacturer’s CEO Jochen Zeitz as part of the 2021 Notice of the Annual Meeting of Shareholders and Proxy Statement, released in advance of the May 20 vote. Farley is the only new board nominee. If approved, he would join executives with diverse corporate backgrounds that include Levi Strauss, Ocean5, Starbucks, he Bill & Melinda Gates Foundation, ABB Robotics and the Cummins engine and technology company. “Jochen’s vision to bring adventure to a wider audience in different forms resonates with me. I’m honored to be nominated for a seat on the Harley-Davidson board,” Farley told the Free Press on Saturday. “It’s also good for Ford, another chance for us to learn from one of the best,” he said. “This is a legendary American brand with a proud global history and enduring values. Like Ford, they now want to transform how people move, including new customers —through always-on relationships, new technologies and must-have products and services.” Zeitz and Farley, both 58, run iconic American manufacturing brands in the midst of the coronavirus pandemic. They’ve had to cut jobs, restructure and redefine their legacies. Zeitz is a turnaround expert who transformed Puma from near bankruptcy to a top athletic brand globally. He took the top job at Harley-Davidson in May. Farley assumed the top job at Ford in October. Not only does Farley collect classic cars, but he also owns and rides Harley-Davidson bikes: a 1930 Knucklehead and a 1942 WLA Navy bike. He restored both bikes with a lot of help from his friends. Farley is known for working on classics himself. “Jim Farley is cut

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Sportster Futures

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Earlier this year we heard that Harley was going to cancel the Sportster line. We also started a suggestion box for the factory’s success. Of course, one of our first and most supported recommendations included retaining the Sportster line. I went so far as to recommend the Sportster line become the builder’s line and make the models user and hands- on friendly. They could work with the aftermarket on custom and performance product lines and teach owners how to work on, service and customize their Sportsters. Click Here to Read this Feature Article on Bikernet. Join the Cantina – Subscribe Today. https://www.bikernet.com/pages/custom/subscription.aspx

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The Fools Bikernet News for April 1st, 2021

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This news is completely whacked, so hang on. The Bikernet Weekly News is sponsored in part by companies who also dig Freedom including: Cycle Source Magazine, the MRF, Las Vegas Bikefest, Iron Trader News, ChopperTown, BorntoRide.com and the Sturgis Motorcycle Museum. Ride fast and free forever, –Bandit Click Here to Read the Weekly News on Bikernet. Join the Cantina – Subscribe Today. https://www.bikernet.com/pages/custom/subscription.aspx

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Harley-Davidson Has Missed the Mark in Electric Transportation

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by Travis Hoium from https://www.fool.com The company can’t get over its past success. The iconic Harley-Davidson (NYSE:HOG) brand is in trouble. The company has seen revenue fall for a half-decade, and earnings have evaporated. Strategies to get into electric motorcycles have largely failed, and the core business doesn’t show any signs of a turnaround. Despite all of these challenges, Harley-Davidson stock is up 82% over the past year, and investors seem optimistic about a turnaround. But there’s good reason to think that won’t happen for this leisure stock. Harley-Davidson’s motorcycle market is shrinking One thing is clear: Harley-Davidson’s market is getting smaller as the culture that brought the company to industry dominance diminishes. The customer base is aging, younger consumers are no longer interested in the look or sound of Harley-Davidsons, and growing markets adjacent to the motorcycle market have been difficult for the brand to enter. The biggest challenge is that Harley-Davidson was always a culture brand, and that’s what made it so powerful for decades. It wasn’t just motorcycles — it was people’s apparel, the sound the bikes made, and long rides on the open road. As more people move to urban markets and look for less disruptive means of transportation, the culture looks out of date. Going electric isn’t enough Harley-Davidson hasn’t been completely surprised by the industry’s changes — it saw the electric vehicle market coming to motorcycles. But it miscalculated what kind of products consumers want and where its brand can connect. The current LiveWire products are a similar form factor to traditional motorcycles, but that’s not where consumers are trending. Electric scooters are really where the growth has been, with Statista estimating that about 50 million electric scooters and bicycles were sold in 2020. Grand View Research estimates the electric scooter market will grow

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The Doomed Bikernet Weekly News for March 25th, 2021

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There are two premises at play here. Threats of doom and control freaks. Some folks are constantly hunting for more control over you. At one time bikers made up one of the largest activist groups in the country. We were right up there with the NRA. We fought hard for freedom to choose to wear a helmet or not. We won until a control freak (Joan Claybrook) took over the DOT and came up with the public burden theory, so she could take our freedom again. We faced an uphill battle gallantly and in many states succeeded. I never understood the media. They supported helmet laws and taking our freedoms. But the media relies on freedom or there would be no media just government propaganda. Hell, you might also read a book I wrote in 1999, Sam Chopper Orwell. It explains what’s happing in biker style. Hang on. You’ll see this topic pop-up numerous times in the news. It’s not about exhaust smoke and plastic containers. It’s about honesty, freedom and good times. Let’s hit the news. It just bothers me, because we are actually living in the best of times. Sure, there’s stuff to do and improve. But we are not doomed. Let’s party or as the brothers say, “Support Good Times.” Ride Fast and Free Forever. –Bandit Click Here to Read the Weekly News on Bikernet. Join the Cantina – Subscribe Today. https://www.bikernet.com/pages/custom/subscription.aspx

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NCOM Biker Newsbytes for March 2021

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Industry news from National Coalition of Motorcyclists (NCOM) Compiled & Edited by Bill Bish THE AIM/NCOM MOTORCYCLE E-NEWS SERVICE is brought to you by Aid to Injured Motorcyclists (A.I.M.) and the National Coalition of Motorcyclists (NCOM), and is sponsored by the Law Offices of Richard M. Lester. The National Coalition of Motorcyclists (NCOM) is a nationwide motorcyclists rights organization serving over 2,000 NCOM Member Groups throughout the United States, with all services fully-funded through Aid to Injured Motorcyclist (AIM) Attorneys available in each state who donate a portion of their legal fees from motorcycle accidents back into the NCOM Network of Biker Services. Click Here to Read the NCOM News at Bikernet. Join the Cantina – Subscribe Today. https://www.bikernet.com/pages/custom/subscription.aspx

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