Harley Davidson ‘LiveWire’ bike due for release next month. The bicycle applies a new technology and is aimed at a new generation of riders.
Harley-Davidson reported a fourth-quarter loss of 63 cents per share that disappointed Wall Street and caused the stock to plummet to more than 17% on Tuesday. Analysts had expected a profit of 10 cents per share on quarterly revenue of $ 788.2 million, which also lost with a result of $ 725.2 million, according to Zachs.
Pan America is Harley-Davidson’s first adventure touring bike.
The company made a profit of $ 1.2 million for the full year in 2020, as it moves forward with a five-year recovery plan called The Hardwire, which will focus on 10 key markets, including the U.S., Canada, Australia, New Zealand and several Western European countries.
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CEO Jochen Zeitz, on Tuesday’s earnings conference call, shared new details of the plan, which aims to make Harley-Davidson the “most desirable motorcycle brand in the world” and includes the establishment of a certified second-hand program.
Harley-Davidson recently eliminated several low-cost model offerings and will establish a dedicated division to expand its line of electric motorcycles beyond the current Livewire.
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However, Zeitz said that the internal combustion engine models will drive the business in the coming years and that a line of new mid-weight cruisers will be unveiled on February 22 along with the production version of its next Pan America, which for the first time instead will pit you against European and Japanese brands in the premium adventure touring bike segment.
The Associated Press contributed to this report