Harley U.S. sales dip, but income rises
October 19, 2010
Filed under Features
Thanks in large part to improved financial services results, Harley-Davidson Inc. increased its third-quarter income compared to a year ago, the company reported.
Harley’s U.S. retail motorcycle sales, however, remain below last year’s levels. Harley’s U.S. retail sales dipped nearly 9.5 percent in comparison to a year-ago. That, however, was better than the 650cc-plus industry as a whole, which was off more than 14.5 percent compared to the year-ago quarter, the company said.
Harley also provided further guidance on how many motorcycles the company expects to ship this year. That number, 207,000-212,000 units, will amount to a 5-7 percent decrease compared to 2009.
The company’s net income for the quarter rose to $93.7 million, a 66 percent increase over the year-ago quarter. Harley-Davidson Financial Services contributed greatly to that increase as it finished the quarter with nearly $51 million in income after losing $31.5 million a year ago.
See more on Harley’s third quarter in an upcoming edition of Powersports Business.