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Lyft to pull plug of e-scooter business in six cities, laying off 20 employees

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The six cities are Nashville, San Antonio, Atlanta, Phoenix, Dallas and Columbus, as the media report claims. Lyft has notified its employees about discontinuing its e-scooter business in six cities, claims a media report. Also, the company is claimed to be laying off at least 20 employees from the bike and scooter team, where around 400 people currently work. The six cities are Nashville, San Antonio, Atlanta, Phoenix, Dallas and Columbus, as the media report claims. The report further quotes a Lyft spokesperson saying, “We’re choosing to focus on the markets where we can have the biggest impact. We’re continuing to invest in growing our bike and scooter business, but will shift resources away from smaller markets and toward bigger opportunities.” Addition to the 20 Lyft employees, a number of contractors responsible for scooter charging and their repositioning will also lose jobs. Previously, Lyft laid off around 50 people this year, claims the report. Lyft is not the only company to pull out from the micro-mobility segment, as earlier this year, Uber too announced the discontinuation of Jump bikes and scooters from a number of select markets including San Diego, Providence and Atlanta. Lyft currently operates its scooters in cities like Arlington, Austin, Denver, Los Angeles, Miami, Minneapolis, Oakland, San Diego, San Jose, Santa Monica and Washington DC, informs the report further.

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The Tune-up Bikernet Weekly News for November 7, 2019

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I’m going to be glad when this year is toast By Bandit, Wayfarer, Rogue, Jim Houck, Laura, the Redhead, Sam, RFR, Bob T. and the rest of the gang Okay, just relax. That’s the name of my accountant’s business. Shit is happening fast on most fronts and I’m going to Deadwood to relax and slip in the snow. There’s a side of me that wants to find a place in the Midwest, where I can chill and breathe in the home of the old west and the center of the Chopper World. Motorcycles have always been my home. I like the sound of Bandit in the Badlands. Let’s hit the news. CLICK HERE TO READ THE NEWS IN THE CANTINA Join the Cantina today

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Harley-Davidson’s stock falls after KeyBanc turns bearish, citing competition from Polaris’s Challenger bike

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Shares of Harley-Davidson Inc. HOG, -1.22% fell 0.7% in morning trading Monday, after KeyBanc Capital analyst Brett Andress turned bearish on the motorcycle maker, citing concerns over competition from Polaris Inc.’s PII, +1.85% Indian brand of bikes. Andress cut his rating on Harley’s stock to underweight, after being at sector weight since August 2017, and set his price target at $33, which is 15.5% below current levels. “Indian’s new Challenger bike is aimed squarely at [Harley’s] dominant Road Glide ([about] 80% share of 32K-unit market),” Andress wrote in a note to clients. “Indian introduced the Challenger bike on Oct. 29 to immediate fanfare and, on paper, the bike surpasses its competition in almost every important metric (primarily a new liquid-cooled engine), a setup we view as likely to disrupt a rather complacent status quo.” Polaris’s stock rose 0.9% in morning trading. Andress estimates the new competition could drive an earnings-per-share headwind of about 25 cents. Harley’s stock has rallied 14.5% year to date, while Polaris shares have surged 30.4% and the S&P 500 SPX, +0.37% has gained 23.0%.

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Bajaj made Triumph motorcycles launch in 2022 – Will also be exported

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by Nithyanandh Karupp from https://www.rushlane.com Could be called Bajaj Avenger 400 / 500 upon launch in India. Over the years, Bajaj Auto has created a solid export operation which has proved to be quite useful when the domestic market undergoes a rough patch such as the ongoing one. About 40% of Bajaj Auto’s production is shipped out of the country to around 80 markets worldwide. With its partnership with British sportsbike brand Triumph, Bajaj is looking to further improve those export statistics. The Pune-based two wheeler maker had announced a non-equity partnership with Triumph Motorcycles in August 2017 and is currently in the process of finalizing the finer details of the agreement. Things should start materializing from end-2019 and we are expecting the first product to be born out of this partnership to be ready in the next 3 years. Bajaj will take the responsibility of manufacturing the products at its facility in a cost effective manner while its British partner will be in charge of engineering and development. Needless to say, the platforms developed under this partnership will spawn both Bajaj and Triumph branded motorcycles. The made-by-Bajaj Triumph compact displacement motorcycles will be exported to several markets including the US, Europe and Japan. This was revealed by Rajiv Bajaj at a recent event in Delhi. With small displacement sportsbike segment steadily gaining popularity across the world, adding Triumph to its production portfolio is expected to boost Bajaj’s already strong export operations significantly. Details regarding body styles and displacements of Bajaj-Triumph products are still under wraps but expect them cater to sub-500cc category. With the KTM Duke and RC ranges, Bajaj Auto has successfully demonstrated its capability to manufacture compact premium motorcycles that can hold their own in international markets. With well established vendor base and know-how of premium product

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Mahindra buys 100 percent stake in Peugeot Motorcycles

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by Nabanita Singha Roy from https://www.rushlane.com The brand will launch 7 products in the next two years. Mahindra Two Wheelers acquired 51% equity stake in Peugeot Motorcycles in 2015 in a bid to establish its presence in the European scooter market. In addition to investing 13 million pounds (Rs 109 crores) in purchasing the shares owned by the French automaker Groupe PSA, the Indian conglomerate invested a further 15 million pounds to empower Peugeot’s product development. Mahindra Two Wheelers Europe has announced that it will acquire complete ownership of PMTC for an undisclosed amount. Since the initial investment, Peugeot Motorcycles has been showing positive momentum. The brand’s Kisbee 50 cc moped emerged as the best selling model in its segment in Europe while the flagship Metropolis three-wheeled scooter is enjoying increasing demand in both its home market and in China. The newly launched Peugeot Urban GT maxi-scooter is also doing well in its target markets. By acquiring 100% stake in the French scooter brand, Mahindra is hoping to drive further growth in Europe and select Asian markets. The company has also announced that Peugeot will introduce seven new products by 2021. As a part of license arrangement with PMTC’s erstwhile parent company, Mahindra will continue to use the Peugeot branding on scooters. The Peugeot design team will continue to be involved in designing of the two wheelers. With European countries looking at ways to decongest the city centers, more and more urban commuters are expected to switch to two wheelers. Fresh investment in Peugeot Motorcycles at this point of time is expected to help the brand increase its market share in Europe and expand into new markets. Having complete control on the operations would help Mahindra Two Wheelers take strategic decisions without any opposition. For example, the company could decide

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Harley-Davidson beats forecasts as international sales rebound

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by Rachit Vats, Ankit Ajmera from https://www.reuters.com (Reuters) – Harley-Davidson Inc (HOG.N) beat expectations for profit on Tuesday and stuck to its full-year shipment forecast, allaying fears of another major hit from European import tariffs and a further slump in sales in its main U.S. market. Shares of the company rose as much as 8.8% to $40.36, as it posted the first rise in international sales in a year during the third quarter and a 3.6% dip in U.S. retail motorcycle sales – the smallest decline in nearly three years. Profits continued to sink – by 24% – but the results offered some hope that one of the biggest names in motorcycles was finally beginning to arrest a slide in global sales that it has been fighting for years. Sales in the world’s biggest motorcycle markets in Asia, which Harley has targeted with smaller bikes that go against its traditional profile, rose 8.7% in the quarter and are up about 1.6% this year overall. The company plans to source half of its revenue from overseas by 2027 and international retail sales rose 2.7% to 23,619 motorcycle in the quarter. While worldwide shipments fell 5.8% to 45,837 motorcycles, they topped analysts’ estimates by over 1,000 motorcycles, and the Milwaukee, Wisconsin-based company stuck to its 2019 shipment target of 212,000 to 217,000 bikes. “As we look to the remainder of 2019, we are encouraged by the momentum of retail sales trends through the first nine months of this year but also recognize substantial headwinds that we continue to face,” Chief Financial Officer John Olin said. The company is also cutting spending and said it now expects 2019 capital expenses of $205 million to $225 million, about $20 million less than its previous estimates. Excluding items, the company earned 70 cents per share,

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Is Harley-Davidson About To Head Back Down Sportbike Alley?

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Sabrina Giacomini from https://www.rideapart.com/ The clues were there all along. If you think of Harley-Davidson in 2019, it’s hard to think of anything else than cruisers and baggers. It is, after all, the segments the manufacturer has developed the most over the years and pretty much the only one it serves nowadays. That’s not to say that the company didn’t try its hand at different things over the past century. One of the company’s most notable attempts at breaking the mold happened in the 90s with the introduction of the VR1000 race bike. Now, a patent filing suggesting that the Motor Company could be working on a VR1000-inspired bubble-fairing sportbike piqued our interest. Following Harley’s AMF Dark Age and painstaking restructuring, the company started getting back on track as the 80s rolled in. With the new cash flow, it was now allowed a few frivolities, including dreams of motorsport. As early as 1986, Harley started toying with the idea of producing a sportbike to enter in the AMA Superbike series. That’s when early ideas about the VR1000 emerged. It took almost a decade for the bike to see the light of day and to roll off the production line. Ultimately, only 50 units of the VR1000 were ever produced—half of which were outfitted for the street. Sadly, the company took too long to execute and finalize the project. By the time the VR1000 was put on the track in 1994, competitors were already lightyears ahead. The company and the factory team never truly managed to make up for the lost time, continuously plagued by never-ending issues and bad luck. Harley ultimately discontinued funding to the racing program in 2001. And Today… In the hopes of refreshing its image, Harley-Davidson released a five-year timeline that includes the introduction of a variety

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Maturing US Market Coupled With Global Auto Slowdown Affecting Harley-Davidson’s Top Line

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by Trefis Team https://www.trefis.com Harley-Davidson (NYSE: HOG), whose stock currently trades at around $35, generates its revenue primarily from its Motorcycle segment, which is projected to account for 86% of total revenues in 2019, while the Financial Services are expected to contribute 14% to the top line. In this note we discuss the revenue segments of Harley-Davidson, their historical performance, and expected Total Revenue for 2019. You can look at our interactive dashboard analysis ~ Harley-Davidson’s Revenue: How does HOG make money? ~ for more details. In addition, here is more Consumer Discretionary data. What Does HOG offer? Harley-Davidson Motor Company was founded in 1903. In 1986, Harley-Davidson, Inc. became publicly held and currently is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The company specializes in heavyweight (601cc+) cruiser and touring motorcycles. The Company’s long-term strategy, announced in 2017, is to build the next generation of Harley-Davidson riders globally and includes the following 2027 objectives: Build two million new Harley-Davidson riders in the U.S. Grow the Harley-Davidson international business to 50 percent of its total annual volume. Launch 100 new, high-impact Harley-Davidson motorcycles. Deliver superior return on invested capital for HDMC that falls within the top quartile of the S&P 500. Grow the business without growing its environmental impact. Operating Segments: Motorcycles and Related Products Segment: The Motorcycles segment consists of HDMC, which designs, manufactures, and sells at wholesale, on-road Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise, and related services. The Company conducts business on a global basis, with sales in the United States, Canada, Latin America, Europe/Middle East/Africa (EMEA), and Asia Pacific. Financial Services Segment: The Financial Services segment consists of HDFS which is engaged in the business of financing and servicing wholesale

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The Shifting Bikernet Weekly News for October 3, 2019

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We Are Living in the Best of Times and should Celebrate I feel a shift coming. In some respects, I hope it’s a shift in the direction of Freedom. We are actually living in the best of times. Everything on the planet has improved for the better and we need to celebrate, not control and punish. More and more I hear amazing stories about the lives of folks around me and the amazing things they accomplished. Markus Cuff played drums for Emily Lou Harris for several years. Then he started to shoot photos of bands in the ‘80s and I started to hire him to shoot tech articles for Easyriders. Since then he’s shot features for tons of magazines and for Bikernet.com ™. I’m working on the Salt Torpedo slowly trying to finish the firewall, the fire suppression unit installations, the helmet cowling and strengthen the front axle swingarm mounts. I fixed my 1969 Panhead, and the 1928 Panhead battery is toast. I’ve had two of these batteries take a shit and would like to try anti-gravity batteries, but they cost a bunch. I may try again. In the meantime, ride fast and free forever! — Keith ‘Bandit’ Ball CLICK HERE TO READ THE WEEKLY NEWS – Join the Cantina Today

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Indian motorcycles taps into 100-year roots with Japan relaunch

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By Chester Dawson and Reed Stevenson from Bloomberg and https://auto.economictimes.indiatimes.com Even though Japan’s population is shrinking and economic growth is tepid, the archipelago is one of the top five markets for heavy bikes. Polaris is seeking to boost Indian’s single-digit market share to 10% by 2025. A century ago, Indian motorcycles were the brand of choice for Japan’s police. They were called “aka-bai” — or red bikes — because of their color. Now, the maker of big American two-wheelers is seeking to recapture some of that glory with a brand relaunch. Recreational vehicle maker Polaris Inc., which makes and sells Indian bikes, is betting that it can gain market share from entrenched foreign rivals such as BMW Motorrad and Harley-Davidson Inc. Instead of relying on a single distributor, the Medina, Minnesota-based company now has its own operations in Japan, with plans to double its store count to 30. Even though Japan’s population is shrinking and economic growth is tepid, the archipelago is one of the top five markets for heavy bikes. Polaris is seeking to boost Indian’s single-digit market share to 10% by 2025. It has taken direct control over local marketing, which it had outsourced after buying the Indian Motorcycle brand and relaunching it globally in 2011. “We weren’t doing the rational thing in Japan,” said Kintaro Izumida, general manager of Polaris in Japan. He works out of an office in Yokohama with about a half-dozen other employees. “Now we’re going to do that.” Harley provides a rich target as the longtime market leader among import brands, with a 44% share of the 20,385 bikes sold last year, according to the Japan Automobile Importers Association. Japan’s domestic bike makers — Honda Motor Co., Kawasaki Motors Corp., Suzuki Motor Corp. and Yamaha Motor Co. — specialize in smaller-engine mass market

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