Harley-Davidson have released its third-quarter 2017 financial report, and sales continue to decline. Q3 net income reached $68.2 million on consolidated revenue of $1.15 billion compared to $114.1 million on $1.27 billion in the same period for 2016.
Worldwide retail sales dropped 6.9 % for the quarter, U.S. sales were down 8.1% and international sales are short 4.6% compared to Q3 in 2016.
“The continued weakness in the U.S. motorcycle industry only heightens our resolve and the intensity we are bringing to the quest to build the next generation of Harley-Davidson riders,” said Matt Levatich, president and CEO, Harley-Davidson, Inc. in a company release. “Launching one hundred new high-impact motorcycles is a critical part of our 10-year journey, and the all new Softail line-up is a significant statement of our commitment.
“As the motorcycle industry leader – with dealer strength and rider passion and loyalty like no other – we believe we are uniquely positioned to build ridership and strengthen the sport of motorcycling. Not just in the U.S. but around the world. Our investments in new product and marketing are targeted to drive ridership growth. We have the strategies, plans and people to make it happen.”
Optimism aside, the year-to-date figures aren’t much better for 2017 compared to 2016. Diluted EPS is down 16.9% to $2.95 a share and net income is $513.4 million on consolidated revenue of $4.42 billion. In 2016 at the end of Q3 the Bar and Shield brand notched $645.0 million on $4.89 billion. Worldwide retail motorcycle sales are down a total of 6.1% through the first nine months of 2017.
Charts below, provided courtesy of Harley-Davidson, detail the state of sales in more detail.