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Harley-Davidson Reports Global Bike Sales Up 24 Percent In 2021 Q2

By General Posts

You can read the Company Announcement at their Official Website by Clicking Here.

Second Quarter 2021 Highlights and Results, and Recent Announcements

  • Delivered Q2 GAAP diluted EPS of $1.33, up $1.93 over Q2 2020
  • Q2 H-D, Inc. total revenue up 77 percent over Q2 2020
  • North America Q2 retail sales up 43% over Q2 2020 and up 5% over Q2 2019
  • Delivered strong Motorcycles and Related Products (Motorcycles) segment gross margin and operating margin driven by the Rewire product portfolio adjustments
  • Delivered Financial Services segment Q2 2021 operating income growth of $90 million over Q2 2020 driven by a lower provision for credit losses
  • Launched LiveWire as a standalone brand and introduced LiveWire ONE™ – the electric motorcycle built for the urban experience, with the power and range to take you beyond
  • Revealed Sportster® S, the all-new Sportster motorcycle built on the Revolution Max platform
  • Launched H-D1™ Marketplace today, the ultimate online destination for pre-owned Harley-Davidson motorcycles in North America

Rolling in the right direction.
by Janaki Jitchotvisut from https://www.rideapart.com

On July 21, 2021, Harley-Davidson reported its 2021 Q2 results. The numbers are definitely moving in the right direction, especially when compared to the same time period in 2020. Worldwide Harley motorcycle sales are up 24 percent, due entirely to an impressive sales rebound in North America.

North American sales are up 43 percent year-on-year in Q2, which is the only positive number when broken down by sales region. Europe, the Middle East, and Africa (commonly referred to among some OEMs as “EMEA”) are down by 7 percent for the same time period. Asia Pacific sales are down 13 percent, and Latin America sales are down 31 percent.

Taking the entirety of the first six months of 2021 into consideration, worldwide Harley-Davidson bike sales are up 18 percent—which is still good news for the embattled OEM. North American sales are up 38 percent, EMEA sales are down 19 percent, Asia Pacific sales are down 7 percent, and Latin America sales are down 47 percent.

Harley had some explanations for some of the negative numbers, stressing that they’re all part of its overall strategy. EMEA Q2 retail sales, the Motor Company said, went down because Harley stopped sales of the Street and legacy Sportster models in the region. Meanwhile, Latin America sales were negatively impacted by a dealer reduction across the region, as well as “pricing actions across the portfolio, which were executed as part of the Rewire strategy.”

Revenues for Q2 of 2021 are up 99 percent over the same period in 2020. That likely comes as particularly good news, since that contributes to a revenue increase of 45 percent over 2020 for the first six months of the year. While most of these numbers are still below those achieved in 2019, this is clearly the strongest showing since the pandemic became a factor. North American Q2 retail sales stand out as an exception, as those are actually up 5 percent over Q2 2019.

Parts and Accessories sales are likewise up 32 percent for Q2 of 2021, and General Merchandise sales are up 47 percent. Overall, Harley says, it forecasts full-year 2021 motorcycle segment revenue growth to end up between 30 and 35 percent, year-on-year. Since that is just a forecast, we’ll have to see how that prediction pans out over the coming months.

Harley-Davidson Successfully Completes The Rewire

By General Posts

Harley-Davidson Successfully Completes The Rewire and Announces Date to Reveal New 2021-2025 Strategic Plan, The Hardwire

The Company will reveal strategic plan and report 2020 Results on February 2, 2021

Milwaukee, Jan. 12, 2021 (GLOBE NEWSWIRE) — Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) today announced it has completed The Rewire, the critical overhaul of its business, setting a strong foundation for The Hardwire, the company’s 5-year strategic plan to deliver profitable and desirable long-term growth and shareholder value. The company will reveal its 2021-2025 strategic plan, along with 2020 fourth quarter and year-end earnings results, on Tuesday, February 2, 2021 via webcast.

“I am confident the substantial changes we made with The Rewire have set us up to successfully execute our strategic plan. We are now a leaner, more aligned organization, and we are making decisions faster,” said Jochen Zeitz, chairman, president and CEO, Harley-Davidson. “The right structure, leadership and principles are in place, and we are ready to execute our strategic plan, The Hardwire, and continue our H-D #1 cultural journey to become a high-performing company.”

As a result of The Rewire, the company:

  • Reduced complexity and increased speed with a new operating model and organizational structure across every function to provide simplicity, agility and efficiency
  • Reset its global business, resourcing and prioritizing the markets with the highest potential
  • Expanded its business focus beyond motorcycles, with a strong commitment to newly established business units for Parts & Accessories and General Merchandise
  • Streamlined its product portfolio and rebuilt its go-to-market efforts for maximum impact
  • Enhanced and protected the value and desirability of its products by changing the approach to supply and inventory management with a focus on a powerful and profitable dealer network
  • Executed Rewire actions expected to deliver ongoing gross cash savings of approximately $115 million starting in 2021

Harley-Davidson will now execute The Hardwire, its 2021-2025 strategic plan grounded in desirability and guided by its vision to build its legend and lead the motorcycle industry through innovation, evolution and emotion. The company is focused on reigniting the spirit of Harley-Davidson and returning to winning, delivering the timeless pursuit of adventure and freedom for the soul for riders around the world.

Webcast
The public is invited to attend an audio webcast on Tuesday, February 2, 2021 from 8-9:30 a.m. CST. Jochen Zeitz, chairman, president and chief executive officer, and Gina Goetter, chief financial officer, Harley-Davidson, Inc., will discuss the company’s financial results, strategic plan and outlook. A slide presentation supporting the discussion will be available 30 minutes prior to the audio webcast.

Webcast participants should log-on and register at least 10 minutes prior to the start time and can access the slide presentation here: http://investor.harley-davidson.com/news-and-events/events-and-presentations. A replay of the audio webcast will be available approximately two hours after the call concludes.

Additional Upcoming Key Dates

  • January 19, 2021 – Harley-Davidson will announce new 2021 motorcycles, parts and accessories, riding gear and apparel at its first virtual launch experience – H-D 21. To take part in the virtual launch, register now at www.H-D.com/21.
  • February 22, 2021 – Harley-Davidson will reveal its all-new Pan America™ 1250 adventure touring motorcycle with a global digital event. Stay informed at www.H-D.com/PanAmerica.

Harley-Davidson Announces Rewire Progress

By General Posts

from https://motorcycles.einnews.com

Harley-Davidson Announces Rewire Progress, New Operating Model and Leaner Organization to Drive Focus and Efficiency

Milwaukee, July 09, 2020 (GLOBE NEWSWIRE) — As part of its comprehensive efforts to rewire the company (The Rewire), announced in April, Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) today announced an overhaul of its global operating model, including a leaner, more nimble organization. Initial Rewire actions are expected to result in restructuring costs of approximately $42 million in Q2 2020. The company plans to share a summary of The Rewire, including additional costs and expected savings, when it releases its Q2 results.

“The Rewire is progressing very well and substantial work is being done to eliminate complexity and get Harley-Davidson on a path to winning. Our new operating model is simpler, more focused and enables faster decisions across the entire company,” said Jochen Zeitz, chairman, president and CEO of Harley-Davidson. “We’ve taken a hard look at our entire set up, our spending, and how work is getting done, to align our operating model, structure and processes. We are building a strong foundation to drive a high-performance organization in the future.”

Changes to the company’s operating model under The Rewire include all areas of the business globally, from commercial operations to corporate functions. Changes have also occurred in the company’s leadership, among them, Chief Financial Officer John Olin has left his role, with current VP Treasurer, Darrell Thomas assuming duties as interim CFO until a successor is appointed. “Significant changes are necessary, and we must move in new directions. I thank John for his commitment during his 17 years with the company and for his leadership during this critical phase of The Rewire,” Zeitz said.

Overall, the streamlined structure requires approximately 700 fewer positions across the company’s global operations with approximately 500 employees expected to exit the organization through 2020.

The key elements of The Rewire:

  • Enhance core strengths and better balance expansion into new spaces
  • Prioritize the markets that matter
  • Reset product launches and product line up for simplicity and maximum impact
  • Build the Parts & Accessories and General Merchandise businesses to full potential
  • Adjust and align the organizational structure, cost structure and operating model to reduce complexity and drive efficiency to set Harley-Davidson up for stability and success

The company plans to share a comprehensive summary of The Rewire actions and financial impacts when it releases its Q2 results later this month. The Rewire will set the foundation for a new 2021-2025 strategic plan which is expected to be shared in Q4.