Citi analyst: Harley dealer check shows Q1 retail sales up 15-17%
Harley-Davidson dealerships have seen a 15-17 percent increase in sales in the first quarter compared to the same quarter in 2011, according to a research note provided to Powersports Business by Citi Investment Research analyst Greg Badishkanian.
Dealer checks performed by Citi show a quarterly growth increase compared to the 11.8 percent growth in the fourth quarter of 2011.
"We would have expected March to have meaningfully slowed, given demand was pulled forward into December-February with warm weather," Badishkanian writes. "Excluding warm weather for the quarter, we sense the underlying sales momentum remains strong."
Badishkanian goes on to write that "dealer checks are showing retail inventories remain lean. ... In addition, retail credit availability has remained stable to slightly improved over the last few months."