MILWAUKEE, Oct. 18, 2016 /PRNewswire/
-- Harley-Davidson, Inc. (NYSE:HOG) third quarter 2016 diluted
earnings per share decreased 7.2 percent to $0.64 compared to diluted EPS of $0.69 in the same period in 2015. Net income was
$114.1 million on consolidated
revenue of $1.27 billion compared to
net income of $140.3 million on
consolidated revenue of $1.32 billion
in the third quarter of 2015.
Harley-Davidson worldwide retail motorcycle sales in the third
quarter were down 4.5 percent, primarily on weak U.S. industry
trends. Harley-Davidson retail motorcycle sales in the U.S. were
down 7.1 percent compared to the year-ago quarter, with the overall
U.S. industry also down for the same period. Harley-Davidson's U.S.
market share for the quarter was 52.3 percent in the 601cc-plus
segment, essentially flat compared to the third quarter in 2015.
Harley-Davidson international retail sales increased by 1.0 percent
over the prior year quarter.
"We continue to effectively navigate a fiercely competitive
environment and an ongoing weak U.S. industry," said Matt Levatich, president and chief executive
officer, Harley-Davidson, Inc. "We are pleased with the positive
results and the enthusiasm we've seen for our Model Year 2017
motorcycles, featuring the new Milwaukee-Eight engine. We are
confident that the entire line-up will drive retail sales growth
for the remainder of 2016 and position us well heading into the
spring riding season next year."
The Milwaukee-Eightâ„¢ engine packs innovative technologies that
deliver improved horsepower, torque, and comfort and enhanced
sound. It was introduced on Touring motorcycles in August as part
of the Model Year 2017 product launch. Response to the new model
year motorcycles drove increased retail sales in September over
prior year.
Through nine months, Harley-Davidson 2016 net income was
$645.0 million on consolidated
revenue of $4.89 billion compared to
nine-month 2015 net income of $710.0
million on consolidated revenue of $4.81 billion. Diluted EPS was $3.55 compared to diluted EPS of $3.41 in the year-ago period. Worldwide retail
motorcycle sales were down 1.9 percent compared to the same period
in 2015. International retail sales were up 3.3 percent, offset by
a decline of 4.7 percent in U.S. retail sales.
Recognizing the continued slower industry growth in the U.S.,
the company will streamline its operations in the fourth quarter of
2016. It expects to incur expenses of approximately $20 million to $25 million in the fourth quarter,
primarily for employee separation and reorganization costs.
"Our value as a company and as a brand is the sum of 113 years
of commitment to our riders and the freedom seekers we will inspire
to ride in the future," said Levatich. "We remain intensely focused
on growing the sport and delivering strong business results."
Retail
Harley-Davidson Motorcycle Sales
|
$ in
thousands
|
3rd
Quarter
|
Nine
Months
|
2016
|
2015
|
Change
|
2016
|
2015
|
Change
|
Americas
Region
|
|
|
|
|
|
|
U.S.
|
45,469
|
48,918
|
(7.1)%
|
135,581
|
142,196
|
(4.7)%
|
Canada
|
2,663
|
2,554
|
4.3%
|
8,946
|
8,414
|
6.3%
|
Latin
America
|
2,605
|
2,818
|
(7.6)%
|
7,064
|
8,091
|
(12.7)%
|
Europe, Middle East,
Africa (EMEA) Region
|
10,224
|
10,031
|
1.9%
|
37,947
|
35,598
|
6.6%
|
Asia Pacific
Region
|
7,994
|
7,857
|
1.7%
|
24,141
|
23,471
|
2.9%
|
Worldwide
Total
|
68,955
|
72,178
|
(4.5)%
|
213,679
|
217,770
|
(1.9)%
|
Retail sales in EMEA were up 1.9 percent in the third quarter
and up 6.6 percent for the first nine months due to the popularity
of Model Year 2016 cruiser motorcycles and our focus on driving
demand through test rides. Asia
Pacific retail sales were up 1.7 percent in the quarter and
up 2.9 percent for the first nine months compared to 2015 behind
strong growth in Australia and
Japan.
Motorcycles and
Related Products Segment Results
|
$ in
thousands
|
3rd
Quarter
|
Nine
Months
|
2016
|
2015
|
Change
|
2016
|
2015
|
Change
|
Motorcycle Shipments
(vehicles)
|
48,611
|
53,472
|
(9.1)%
|
219,807
|
218,233
|
0.7%
|
Revenue
|
|
|
|
|
|
|
Motorcycles
|
788,856
|
812,398
|
(2.9)%
|
3,437,066
|
3,376,356
|
1.8%
|
Parts
& Accessories
|
231,279
|
252,226
|
(8.3)%
|
673,192
|
692,938
|
(2.8)%
|
General
Merchandise
|
65,289
|
69,008
|
(5.4)%
|
211,664
|
212,954
|
(0.6)%
|
Gross Margin
Percent
|
33.6
|
34.6
|
(1.0)pts
|
36.1
|
37.9
|
(1.8)pts
|
Operating
Income
|
108,929
|
143,065
|
(23.9)%
|
764,135
|
869,122
|
(12.1)%
|
Operating Margin
Percent
|
10.0%
|
12.5%
|
(2.5)pts
|
17.6%
|
20.2%
|
(2.6)pts
|
Revenue from motorcycles and related products was down compared
to the third quarter in 2015, primarily behind decreased motorcycle
shipments. Operating margin as a percent of revenue decreased
versus the prior year as a result of lower gross margin behind
unfavorable manufacturing expense and higher year-over-year
SG&A.
Financial Services
Segment Results
|
$ in
thousands
|
3rd Quarter
|
Nine
Months
|
2016
|
2015
|
Change
|
2016
|
2015
|
Change
|
Revenue
|
183,183
|
177,109
|
3.4%
|
547,505
|
513,093
|
6.7%
|
Operating
Income
|
69,447
|
72,771
|
(4.6)%
|
215,391
|
219,348
|
(1.8)%
|
Operating income from financial services was down 4.6 percent in
the third quarter compared to the year ago period.
Guidance
Harley-Davidson continues to expect to ship
264,000 to 269,000 motorcycles in 2016, which is approximately down
1 percent to up 1 percent from 2015. In the fourth quarter of 2016,
the company expects to ship 44,200 to 49,200 motorcycles compared
to 48,149 motorcycles shipped in the year-ago period. The company
continues to expect full-year 2016 operating margin of
approximately 15 to 16 percent for the Motorcycles segment. The
company continues to expect 2016 capital expenditures
for Harley-Davidson, Inc. of $255 million to
$275 million.
Income Tax Rate
For the first nine months,
Harley-Davidson's effective tax rate was 32.9 percent compared to
34.8 percent in 2015. The company continues to expect its full-year
2016 effective tax rate will be approximately 33 percent.
Cash Flow
Cash and marketable securities totaled
$795.3 million at the end of the
third quarter, compared to $1.42
billion a year ago. During the first nine months of the
year, Harley-Davidson generated $927.8
million of cash from operating activities compared to
$1.02 billion for the same period in
2015.
Shareholder Returns
In the third quarter, the company
paid a cash dividend of $0.35 per
share. During the same time period, on a discretionary basis, the
company repurchased 2.1 million shares of Harley-Davidson common
stock for $104.6 million. Also in the
third quarter, there were approximately 179.3 million
weighted-average diluted shares outstanding, compared to
approximately 204.6 million shares in the year-ago quarter. As of
September 25, 2016, a total of 20.9
million shares remained on board-approved share repurchase
authorizations.
Company Background
Harley-Davidson, Inc. is the parent
company of Harley-Davidson Motor Company and Harley-Davidson
Financial Services. Since 1903, Harley-Davidson Motor Company has
fulfilled dreams of personal freedom with custom, cruiser and
touring motorcycles, riding experiences and events and a complete
line of Harley-Davidson motorcycle parts, accessories, general
merchandise, riding gear and apparel. Harley-Davidson Financial
Services provides wholesale and retail financing, insurance,
extended service and other protection plans and credit card
programs to Harley-Davidson dealers and riders in the U.S.,
Canada and other select
international markets. For more information, visit
Harley-Davidson's Web site at www.harley-davidson.com.
Conference Call and Webcast
Presentation
Harley-Davidson will discuss third-quarter
results on a Webcast at 8:00 a.m. CT
today. The supporting slides will be posted prior to the call and
can be accessed at http://investor.harley-davidson.com under
"Events and Presentations." The audio portion of today's call will
also be posted approximately two hours after the call
concludes.
Forward-Looking Statements
The company intends that
certain matters discussed in this release are "forward-looking
statements" intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. These forward-looking statements can generally be identified
as such because the context of the statement will include words
such as the company "believes," "anticipates," "expects," "plans,"
or "estimates" or words of similar meaning. Similarly, statements
that describe future plans, objectives, outlooks, targets, guidance
or goals are also forward-looking statements. Such forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially, unfavorably or
favorably, from those anticipated as of the date of this release.
Certain of such risks and uncertainties are described below.
Shareholders, potential investors, and other readers are urged to
consider these factors in evaluating the forward-looking statements
and cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements included in this release
are only made as of the date of this release, and the company
disclaims any obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
The company's ability to meet the targets and expectations noted
depends upon, among other factors, the company's ability to (i)
execute its business strategy, (ii) manage through changes in
general economic conditions, including changing capital, credit and
retail markets, and political events, (iii) prevent a cybersecurity
breach involving consumer, employee, dealer, supplier, or company
data and respond to evolving regulatory requirements regarding data
security, (iv) drive demand by executing its marketing strategy of
appealing to and growing sales to multi-generational and
multi-cultural customers worldwide in an increasingly competitive
marketplace, (v) manage the impact that prices for and supply of
used motorcycles may have on its business, including on retail
sales of new motorcycles and collections, (vi) develop and
introduce products, services and experiences that are successful in
the marketplace, (vii) balance production volumes for its new
motorcycles with consumer demand, including in circumstances where
competitors may be supplying new motorcycles to the market in
excess of demand at reduced prices, (viii) prevent and detect any
issues with its motorcycles or any associated manufacturing
processes to avoid delays in new model launches, recall campaigns,
regulatory agency investigations, increased warranty costs or
litigation and adverse effects on its reputation and brand
strength, (ix) manage the credit quality, the loan servicing and
collection activities, and the recovery rates of HDFS' loan
portfolio, (x) accurately estimate and adjust to fluctuations in
foreign currency exchange rates, interest rates and commodity
prices, (xi) effectively execute reorganization actions within
expected costs and realize the expected benefits of those actions,
(xii) continue to develop the capabilities of its distributors and
dealers and manage the risks that its independent dealers may have
difficulty obtaining capital and managing through changing economic
conditions and consumer demand, (xiii) manage risks that arise
through expanding international manufacturing, operations and
sales, (xiv) manage through the effects inconsistent and
unpredictable weather and weather patterns may have on retail sales
of motorcycles, (xv) manage supply chain issues, including quality
issues and any unexpected interruptions or price increases caused
by raw material shortages or natural disasters, (xvi) implement and
manage enterprise-wide information technology systems, including
systems at its manufacturing facilities, (xvii) manage changes and
prepare for requirements in legislative and regulatory environments
for its products, services and operations, (xviii) retain and
attract talented employees, (xix) manage its exposure to product
liability claims and commercial or contractual disputes, (xx)
execute its flexible production strategy, (xxi) adjust to
healthcare inflation and reform, pension reform and tax changes,
(xxii) successfully access the capital and/or credit markets on
terms (including interest rates) that are acceptable to the company
and within its expectations, and (xxiii) continue to manage the
relationships and agreements that the company has with its labor
unions to help drive long-term competitiveness.
In addition, the company could experience delays or disruptions
in its operations as a result of work stoppages, strikes, natural
causes, terrorism or other factors. Other factors are described in
risk factors that the company has disclosed in documents previously
filed with the Securities and Exchange Commission.
The company's ability to sell its motorcycles and related
products and services and to meet its financial expectations also
depends on the ability of the company's independent dealers to sell
its motorcycles and related products and services to retail
customers. The company depends on the capability and financial
capacity of its independent dealers and distributors to develop and
implement effective retail sales plans to create demand for the
motorcycles and related products and services they purchase from
the company. In addition, the company's independent dealers and
distributors may experience difficulties in operating their
businesses and selling Harley-Davidson motorcycles and related
products and services as a result of weather, economic conditions
or other factors.
Harley-Davidson,
Inc.
|
Condensed
Consolidated Statements of Income
|
(In thousands, except
per share amounts)
|
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
25,
|
|
September
27,
|
|
September
25,
|
|
September
27,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
|
|
|
|
|
|
|
Motorcycles and
related products revenue
|
|
$
1,091,630
|
|
$
1,140,321
|
|
$
4,338,353
|
|
$
4,301,674
|
Gross
profit
|
|
367,019
|
|
394,039
|
|
1,564,857
|
|
1,631,528
|
Selling,
administrative and engineering expense
|
|
258,090
|
|
250,974
|
|
800,722
|
|
762,406
|
Operating
income from motorcycles & related products
|
|
108,929
|
|
143,065
|
|
764,135
|
|
869,122
|
|
|
|
|
|
|
|
|
|
Financial services
revenue
|
|
183,183
|
|
177,109
|
|
547,505
|
|
513,093
|
Financial services
expense
|
|
113,736
|
|
104,338
|
|
332,114
|
|
293,745
|
Operating
income from financial services
|
|
69,447
|
|
72,771
|
|
215,391
|
|
219,348
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
178,376
|
|
215,836
|
|
979,526
|
|
1,088,470
|
Investment
income
|
|
2,300
|
|
3,211
|
|
3,754
|
|
5,983
|
Interest
expense
|
|
7,706
|
|
4,879
|
|
21,968
|
|
4,897
|
Income before income
taxes
|
|
172,970
|
|
214,168
|
|
961,312
|
|
1,089,556
|
Provision for income
taxes
|
|
58,905
|
|
73,821
|
|
316,327
|
|
379,545
|
Net income
|
|
$
114,065
|
|
$
140,347
|
|
$
644,985
|
|
$
710,011
|
|
|
|
|
|
|
|
|
|
Earnings per common
share:
|
|
|
|
|
|
|
|
|
Basic
|
|
$
0.64
|
|
$
0.69
|
|
$
3.57
|
|
$
3.43
|
Diluted
|
|
$
0.64
|
|
$
0.69
|
|
$
3.55
|
|
$
3.41
|
|
|
|
|
|
|
|
|
|
Weighted-average
common shares:
|
|
|
|
|
|
|
|
|
Basic
|
|
178,438
|
|
203,598
|
|
180,779
|
|
207,255
|
Diluted
|
|
179,320
|
|
204,580
|
|
181,582
|
|
208,282
|
|
|
|
|
|
|
|
|
|
Cash dividends per
common share
|
|
$
0.35
|
|
$
0.31
|
|
$
1.05
|
|
$
0.93
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harley-Davidson,
Inc.
|
Condensed
Consolidated Balance Sheets(1)
|
(In
thousands)
|
|
|
|
|
|
|
|
|
|
(Unaudited)
|
|
|
|
(Unaudited)
|
|
|
September
25,
|
|
December
31,
|
|
September
27,
|
|
|
2016
|
|
2015
|
|
2015
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
790,284
|
|
$
722,209
|
|
$
1,368,554
|
Marketable securities
|
|
5,038
|
|
45,192
|
|
47,358
|
Accounts receivable, net
|
|
346,176
|
|
247,405
|
|
294,054
|
Finance receivables, net
|
|
2,205,644
|
|
2,053,582
|
|
2,068,873
|
Inventories
|
|
426,547
|
|
585,907
|
|
466,657
|
Restricted cash
|
|
65,088
|
|
88,267
|
|
113,499
|
Other current assets
|
|
263,567
|
|
235,321
|
|
251,225
|
Total current
assets
|
|
4,102,344
|
|
3,977,883
|
|
4,610,220
|
|
|
|
|
|
|
|
Finance receivables,
net
|
|
4,944,322
|
|
4,814,571
|
|
5,009,473
|
Other long-term
assets
|
|
1,165,560
|
|
1,180,523
|
|
1,092,341
|
|
|
$
10,212,226
|
|
$
9,972,977
|
|
$
10,712,034
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
Accounts payable & accrued liabilities
|
|
$
798,127
|
|
$
707,578
|
|
$
781,246
|
Short-term debt
|
|
1,055,428
|
|
1,201,380
|
|
990,049
|
Current portion of long-term debt, net
|
|
700,152
|
|
838,349
|
|
885,889
|
Total current
liabilities
|
|
2,553,707
|
|
2,747,307
|
|
2,657,184
|
|
|
|
|
|
|
|
Long-term debt,
net
|
|
5,170,609
|
|
4,832,469
|
|
5,040,644
|
Pension and
postretirement healthcare liabilities
|
|
303,319
|
|
358,547
|
|
254,864
|
Other long-term
liabilities
|
|
192,223
|
|
195,000
|
|
199,669
|
|
|
|
|
|
|
|
Total shareholders'
equity
|
|
1,992,368
|
|
1,839,654
|
|
2,559,673
|
|
|
$
10,212,226
|
|
$
9,972,977
|
|
$
10,712,034
|
|
|
|
|
|
|
|
|
(1)
|
ASU 2015-03 Interest
- Imputation of Interest (Subtopic 835-30) Simplifying the
Presentation of Debt Issuance Costs was adopted retrospectively on
January 1, 2016. Debt issuance costs in Other current assets and
Other long-term assets have been reclassified to Current-portion of
long-term debt, net and Long-term debt, net for 2015 balances to
reflect the adoption of the new guidance.
|
Harley-Davidson,
Inc.
|
Condensed
Consolidated Statements of Cash Flows
|
(In
thousands)
|
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Nine months
ended
|
|
|
September
25,
|
|
September
27,
|
|
|
2016
|
|
2015
|
|
|
|
|
|
Net cash provided by
operating activities
|
|
$
927,809
|
|
$
1,020,957
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
Capital
expenditures
|
|
(162,726)
|
|
(139,054)
|
Finance
receivables, net
|
|
(569,013)
|
|
(719,472)
|
Proceeds from
sale of finance receivables
|
|
312,571
|
|
-
|
Net change in
marketable securities
|
|
40,014
|
|
9,500
|
Acquisition of
business
|
|
-
|
|
(59,910)
|
Other
|
|
251
|
|
5,172
|
Net cash used by
investing activities
|
|
(378,903)
|
|
(903,764)
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
Proceeds from
issuance of senior unsecured notes
|
|
-
|
|
740,949
|
Proceeds from
issuance of medium-term notes
|
|
1,193,396
|
|
595,386
|
Repayments of
medium-term notes
|
|
(451,336)
|
|
(600,000)
|
Proceeds from
securitization debt
|
|
-
|
|
1,195,668
|
Repayments of
securitization debt
|
|
(535,616)
|
|
(764,909)
|
Net (decrease)
increase in credit facilities and unsecured commercial
paper
|
|
(146,328)
|
|
258,734
|
Borrowings of
asset-backed commercial paper
|
|
33,428
|
|
69,191
|
Repayments of
asset-backed commercial paper
|
|
(55,170)
|
|
(55,124)
|
Net change in
restricted cash
|
|
30,981
|
|
(15,165)
|
Dividends
paid
|
|
(190,387)
|
|
(191,451)
|
Purchase of
common stock for treasury
|
|
(374,234)
|
|
(894,565)
|
Excess tax
benefits from share-based payments
|
|
1,291
|
|
2,878
|
Issuance of
common stock under employee stock option plans
|
|
6,444
|
|
16,755
|
Net cash (used by)
provided by financing activities
|
|
(487,531)
|
|
358,347
|
|
|
|
|
|
Effect of exchange
rate changes on cash and cash equivalents
|
|
6,700
|
|
(13,666)
|
|
|
|
|
|
Net increase in cash
and cash equivalents
|
|
$
68,075
|
|
$
461,874
|
|
|
|
|
|
Cash and cash
equivalents:
|
|
|
|
|
Cash and cash
equivalents - beginning of period
|
|
$
722,209
|
|
$
906,680
|
Net increase
in cash and cash equivalents
|
|
68,075
|
|
461,874
|
Cash and cash
equivalents - end of period
|
|
$
790,284
|
|
$
1,368,554
|
|
|
|
|
|
Motorcycles and
Related Products Revenue and
|
Motorcycle
Shipment Data
|
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
25,
|
|
September
27,
|
|
September
25,
|
|
September
27,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
MOTORCYCLES AND
RELATED PRODUCTS REVENUE (in thousands)
|
|
|
|
|
|
|
|
|
Motorcycles
|
|
$
788,856
|
|
$
812,398
|
|
$
3,437,066
|
|
$
3,376,356
|
Parts &
Accessories
|
|
231,279
|
|
252,226
|
|
673,192
|
|
692,938
|
General
Merchandise
|
|
65,289
|
|
69,008
|
|
211,664
|
|
212,954
|
Other
|
|
6,206
|
|
6,689
|
|
16,431
|
|
19,426
|
|
|
$
1,091,630
|
|
$
1,140,321
|
|
$
4,338,353
|
|
$
4,301,674
|
|
|
|
|
|
|
|
|
|
MOTORCYCLE
SHIPMENTS:
|
|
|
|
|
|
|
|
|
United States
|
|
26,269
|
|
30,092
|
|
141,708
|
|
141,884
|
International
|
|
22,342
|
|
23,380
|
|
78,099
|
|
76,349
|
Total
|
|
48,611
|
|
53,472
|
|
219,807
|
|
218,233
|
|
|
|
|
|
|
|
|
|
MOTORCYCLE PRODUCT
MIX:
|
|
|
|
|
|
|
|
|
Touring
|
|
23,295
|
|
21,994
|
|
89,467
|
|
95,354
|
Cruiser
|
|
13,986
|
|
18,405
|
|
78,570
|
|
71,753
|
Sportster® / Street
|
|
11,330
|
|
13,073
|
|
51,770
|
|
51,126
|
Total
|
|
48,611
|
|
53,472
|
|
219,807
|
|
218,233
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide Retail
Sales of Harley-Davidson Motorcycles(1)
|
|
|
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
|
September
30,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
Americas
Region
|
|
|
|
|
|
|
|
|
United
States
|
|
45,469
|
|
48,918
|
|
135,581
|
|
142,196
|
Canada
|
|
2,663
|
|
2,554
|
|
8,946
|
|
8,414
|
Latin
America
|
|
2,605
|
|
2,818
|
|
7,064
|
|
8,091
|
Total Americas Region
|
|
50,737
|
|
54,290
|
|
151,591
|
|
158,701
|
|
|
|
|
|
|
|
|
|
Europe, Middle East
and Africa Region (EMEA)
|
|
|
|
|
|
|
|
|
Europe(2)
|
|
8,807
|
|
8,441
|
|
32,590
|
|
30,720
|
Other
|
|
1,417
|
|
1,590
|
|
5,357
|
|
4,878
|
Total EMEA Region
|
|
10,224
|
|
10,031
|
|
37,947
|
|
35,598
|
|
|
|
|
|
|
|
|
|
Asia Pacific
Region
|
|
|
|
|
|
|
|
|
Japan
|
|
2,762
|
|
2,642
|
|
7,631
|
|
7,194
|
Other
|
|
5,232
|
|
5,215
|
|
16,510
|
|
16,277
|
Total Asia Pacific Region
|
|
7,994
|
|
7,857
|
|
24,141
|
|
23,471
|
|
|
|
|
|
|
|
|
|
Total Worldwide Retail Sales
|
|
68,955
|
|
72,178
|
|
213,679
|
|
217,770
|
|
|
|
|
|
|
|
|
|
Total International Retail Sales
|
|
23,486
|
|
23,260
|
|
78,098
|
|
75,574
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Data source for
retail sales figures shown above is new sales warranty and
registration information provided by Harley-Davidson dealers and
compiled by the Company. The Company must rely on information that
its dealers supply concerning new retail sales, and this
information is subject to revision.
|
|
|
(2)
|
Europe data includes
Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy,
Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden,
Switzerland, and the United Kingdom.
|
Motorcycle
Registration Data(1)
|
|
|
|
|
|
|
|
Nine months
ended
|
|
|
September
30,
|
|
September
30,
|
|
|
2016
|
|
2015
|
United
States(2)
|
|
263,479
|
|
279,013
|
Europe(3)
|
|
337,694
|
|
313,302
|
|
|
|
|
|
|
(1)
|
Data includes on-road
601+cc models. On-road 601+cc models include dual purpose models,
three-wheeled motorcycles and autocycles.
|
|
|
(2)
|
United States data is
derived from information provided by Motorcycle Industry Council
(MIC). This third party data is subject to revision and
update.
|
|
|
(3)
|
Europe data includes
Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy,
Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden,
Switzerland, and the United Kingdom. Industry retail motorcycle
registration data includes 601+cc models derived from information
provided by Association des Constructeurs Europeens de Motocycles
(ACEM), an independent agency. This third-party data is subject to
revision and update.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/harley-davidson-reports-third-quarter-2016-earnings-300346358.html
SOURCE Harley-Davidson, Inc.