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Powersports Business • December 2024 • 9

Harley-Davidson , Inc . recently reported its third quarter 2024 results , showing that North American retail sales were down 10 percent versus the prior year and global sales down 13 percent year-over-year . The Motor Company has lowered its full-year 2024 financial outlook to reflect the current environment .

“ We have worked diligently through the quarter to mitigate the impact of high interest rates and macroeconomic and political uncertainty that continue to put pressure on our industry and customers , especially in our core markets ,” says Jochen Zeitz , chairman , president and CEO of Harley-Davidson . “ We are very pleased with the reception of our touring launch with customers and dealers alike and are working hard to set the company up for a solid 2025 . We are optimistic about our ability to make sound progress in the new year , and we are expecting further interest rate reductions and improved consumer confidence will provide the industry with a needed tailwind .”

Consolidated operating income in the third quarter was $ 106 million , down 49 percent from the prior year . The result was driven primarily by an HDMC operating income decline of 69 percent , partially offset by an HDFS operating income increase of 29 percent , and a LiveWire operating loss in-line with the company ’ s expectations . The consolidated operating income margin in the third quarter was 9.2 percent , which compares to 13.5 percent in the third quarter a year ago .

HARLEY-DAVIDSON RETAIL MOTORCYCLE SALES

Global retail motorcycle sales in the third quarter were down 13 percent versus the prior year . Meanwhile , North American retail performance was down 10 percent . Dealers

According to the Motorcycle Industry Council ’ s Ride Report , sales of new motorcycles and scooters decreased 6.2 percent through the third quarter of 2024 , compared with the same period the previous year .

“ Although all general categories – on-highway , off-highway , dual and scooter – are down year-to-date compared with 2023 , there is good news within specific segments ,” says Buckner Nesheim , MIC director of research and statistics . “ Sportbike sales have spiked through Q3 and are at their highest levels since 2009 . While touring bikes have shown some resilience , with a small increase this year . On-highway vehicles have experienced the smallest decline , essentially flat through September . Off-highway and scooters have seen the largest declines . The motorcycle market has evolved since the pandemic , and we are seeing dynamic shifts across the segments .”

Nesheim says that new unit sales are still well ahead of where the industry was before the pandemic – when consumers flocked to dealerships to buy powersports products for outdoor and family recreation . observed a slowdown in customer traffic in North America , and customers assessed the higher interest rate environment and macro uncertainty . Although , it is noted that U . S . retail performance was only down one percent in the nine-month YTD period year-over-year .

International markets have performed weaker than Harley expected , down 18 percent in the third quarter versus the prior year . In EMEA , third quarter retail sales declined by 23 percent , with mixed performance on a country-by-country basis . In APAC , third quarter retail sales declined by 16 percent , with Japan softer than expected and Australia and New Zealand experiencing growth . Latin America was largely flat . International retail sales were down 12 percent in the ninemonth YTD period year-over-year .

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Durham , North Carolina