TRUMP WAS RIGHT: Harley Davidson U.S Sales down 6.4%

According to their second quarter finances Harley Davidson’s U.S sales were down 6.4%.

The Washington Examiner:

Harley-Davidson said Tuesday that international sales of its motorcycles grew while domestic sales decreased in the second quarter, after the company angered President Trump by announcing it would shift some U.S. production overseas in response to his trade agenda.

The Milwaukee-based company reported that motorcycle sales in the U.S. dropped 6.4 percent to 46,490 for the quarter that ended on June 30, while international sales rose 0.7 percent to nearly 31,938. European sales grew 3.6 percent and Latin American sales grew 9.1 percent, while sales in Asia dropped 7.1 percent.

Total revenue dropped slightly to $1.53 billion for the quarter, as overall motorcycle sales dropped 4 percent. Net income dropped 6.3 percent to $242 million.

“Our results in the second quarter reflect business performance that is in line with our expectations. With the focus of every employee and dealer, we are making progress building the next generation of Harley-Davidson riders in line with our long-term objectives,” Chief Executive Officer Matt Levatich said in a statement.

After Trump announced his 25% tariff on steel and 10% on alumiunium Harley Davidson announced they were moving some U.S production overseas. The tariffs would add $45 to $55 million in additional costs in 2018 for Harley Davidson.

Here is what Trump told reporters last month

“Harley-Davidson is using that as an excuse, and I don’t like that because I’ve been very good to Harley-Davidson. And they used it as an excuse. And I think the people that ride Harleys are not happy with Harley-Davidson, and I wouldn’t be either,” he recently told reporters.


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