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Summary
- Harley-Davidson sales in Q4 2023 decreased by 11% globally, with the biggest drop in the EMEA region.
- The North American market was impacted by high-interest rates and the discontinuation of the Sportster.
- LiveWire, Harley-Davidson’s EV company, saw a significant surge in sales with a 645% increase in motorcycle shipments in Q4 2023.
2024 started on a kickass note for Harley-Davidson. The Motor Company presented its first CVO-badged adventure bike, alongside its most powerful bagger ever. But there’s another side of the coin. A side that talks with numbers and reveals how H-D performed in the last quarter of 2023. Just like the Q3 report, this one also shows a downward trend in H-D sales worldwide.
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Harley-Davidson Recorded 11 Percent Y-o-Y Dip In Overall Motorcycle Sales
Diving right in, the press release reveals Harley-Davidson sold 30,200 motorcycles in the last few months of 2023. That’s an 11 percent decrease in worldwide motorcycle sales over the 33,800 figure from the same period in 2022. A closer look reveals the biggest plunge came in the Europe, Middle East, and Africa region (EMEA). Sales dropped by 22 percent over last year, with the total sales figure being just 5,500. Asia Pacific and North America recorded ten and nine percent dips, respectively.
According to Harley officials, the drop in the North American market “continues to be impacted by both the high-interest rate environment and the discontinuation of legacy Sportster at the end of 2022 in the region”. Whereas, the decline in EMEA and Asia Pacific was courtesy of “weakness in Germany, France, Australia, and New Zealand markets”. The only exception to the downtrend was Latin America. Sales grew to 800 units–a 46 percent increment over the same period in 2022.
In total, the overall yearly sales dropped by nine percent from 178,500 (in 2022) to 162,800 (in 2023). Refer to the table below for more details.
Harley-Davidson Q4 2023 Sales Numbers
|
Market |
2023 |
2022 |
YoY |
|
North America |
17.5 |
19.2 |
-9% |
|
EMEA |
5.1 |
6.6 |
-22% |
|
Asia Pacific |
6.8 |
7.5 |
-10% |
|
Latin America |
0.8 |
0.6 |
46% |
|
Worldwide |
30.2 |
33.8 |
-11% |
*Sales numbers in thousands
LiveWire Saw A Big Surge In Sales In Q4 Of 2023
Although overall sales dipped, Harley-Davidson’s EV company LiveWire finally saw a big surge at the end of 2023. The motorcycle shipment figure rose to 514 units, a whopping 645 percent increase over the same period in 2022. This surge also helped the EV company record an 11 percent growth in overall yearly sales and a 67 percent increase in revenue from Q4 2022. According to H-D, credit for the growth goes to its latest EV–the S2 Del Mar–unveiled in July 2023. It makes sense too, as the Del Mar has made the LiveWire brand much more accessible to the masses with its $15,499 MSRP.
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Finally, here’s what the company expects of its ICE and EV initiatives for 2024:
- Harley-Davidson Motor Company: Revenue flat to down 9% and operating income margin of 12.6% to 13.6%
- LiveWire: Electric motorcycle unit sales of 1,000 to 1,500 and operating loss of $115 to $125 million
Do you think Harley-Davidson would achieve the said goals? Tell us your thoughts in the comments.
Source – Harley-Davidson
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