Harley-Davidson is close a plant in Kansas City, Missouri, after its motorcycle shipments fell to their lowest level in six years. The Milwaukee-based company also warned of a further drop in shipments to dealers this year as it expects retail sales in the United States, its biggest market, to dip.
Harley is having to cope with an ageing customer base and younger, more price-sensitive buyers. It expects to ship 231,000 to 236,000 motorcycles this year, after selling 241,498 in 2017, the lowest since 2011.
The company has a strategy to attract two million new riders in the next decade by investing up to $50 million on electric technology, with a target of launching its first electric bike within 18 months.
Its shares fell $4.45 to $50.84 last night.