"A total rewire is necessary to make Harley-Davidson a high-performance company,” CEO Jochen Zeitz says after Harley also reported a surprise loss.
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The strategy will require "significant investment” funded entirely through cost cuts and the reallocation of investment and resources.
Several government measures designed in part to bring manufacturing jobs back to the United States are having the opposite effect so far.
Falling demand, higher costs from U.S. tariffs on raw materials, and European taxes on imports hurt its earnings.
The addition of StaCyc's electric bikes for kids “reinforces [Harley's] commitment to lead in the electrification of motorcycling."
Machine learning and AI solutions are difficult to deploy, often overhyped, and may have little bottom-line impact: Gartner.
Some consumer goods companies are increasing prices, but there are signs of renewed price sensitivity among buyers, says Korn Ferry's Craig Rowley.
CFO John Olin says the tariff war between the U.S. and the EU will add about $45 million to $55 million in costs this year.
The iconic bike manufacturer says shifting some production overseas is its only option after the EU retaliiated against U.S. tariffs.
"Harley is grappling with an aging customer base and younger, more price-sensitive buyers hesitant to embrace the iconic brand."
Harley-Davidson's retail sales fell 6.9% in Q3 as it struggles to attract millennials who "aren't widely embracing the motorcycling lifestyle."
