Harley-Davison to consolidate Kansas City assembly plant to York County facility

Harley-Davison to consolidate Kansas City assembly plant to York County facility

Harley-Davison to consolidate Kansas City assembly plant to York County facility

And if the final production model comes out closely resembling the fit and finish of the concept, it could be one of the most impressive, and certainly most desirable electric motorcycles on the market.

The motorcycle company said its fourth quarter 2017 net income fell 82 percent to $8.3 million - considerably lower than its net income of $47.2 million in the fourth quarter of 2016. Export demand, which accounts for almost 80 per cent of United Kingdom auto output, fell just 1.1 per cent.

"Our brand stands for freedom and independence and personal freedom, and we think the brand is fundamentally sound", he said during a company earnings call on Tuesday.

Global retail motorcycle sales fell 6.7% in 2017, compared with the prior year, with US sales down 8.5% and worldwide sales declining 3.9%. Harley sales fell 11 percent in the fourth quarter and 8.5 percent for the year.

Harley has taken steps to counter what's been a prolonged downturn, including tightening motorcycle inventories.

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Levatich told investors, "The EV motorcycle market is in its infancy today, but we believe premium Harley-Davidson electric motorcycles will help drive excitement and participation in the sport globally".

More than 100 jobs will be lost following a decision by motorcycle manufacturer Harley-Davidson to close its New Castalloy factory in Adelaide next year.

Harley-Davison Inc. announced Tuesda that it will close its Kansas City motorcycle plant by the summer of 2019. Due to this restructuring, Harley also expects ongoing annual cash savings of $65 to $75 million after 2020. "Our Kansas City assembly operations will leave a legacy of safety, quality, collaboration and manufacturing leadership", Levatich said. Overall sales in the quarter were down 9.6 percent. A huge and expensive undertaking, it had been planned in the wake of the global financial crises after its HOG stock fell from a high of nearly $75 in 2006 to a feeble low of $7.99 in 2009.

Robin Diedrich, an analyst with Edward Jones Co., told the Sentinel that foreign competitors are benefiting from a strong USA dollar, which makes it more profitable to sell foreign-made bikes in the U.S.at lower prices. Polaris Industries Inc. (NYSE:PII), a one-time rival of Harley-Davidson, started winding down its "Victory" motorcycle operations in early 2017. Electric motorcycles have come a long way in the few years since then, so it's likely that Harley-Davidson's first production bike will be far more capable.

"Harley is seeing significant pricing pressure, hurting profitability and sales", she said.

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