Harley-Davidson released its second quarter sales results today, showing the Bar & Shield brand taking a dip in sales in Q2 2016.
According to its report, Harley-Davidson sales are down 1.9% worldwide, a figure that is due mostly to the company’s performance on its home turf in the USA, which are down 5.2% when compared to Q2 2015.
In fact, Harley-Davidson sales abroad saw a modest gain of 4.3%, but since the iconic American brand still sells roughly two-thirds of its units here in the United States, the sales trends here steer the company’s fate heavily.
To that tune, Harley-Davidson notes that the US motorcycle industry as a whole is down 8.6% in Q2 2016 – a fair point to make, but it is also skewed by the fact that Harley-Davidson accounts for one-in-two of every new motorcycle sold in the USA.
Harley-Davidson buoys this bad news on the fact that the Bar & Shield brand gained marketshare during this time period – 2 points, to bring Harley-Davidson to a 49.5% figure.
“We are pleased with our ability to gain market share in the U.S.,” said Matt Levatich, President and Chief Executive Officer of Harley-Davidson. “Competitiveness in the U.S. remains intense, and our demand-driving investments are showing traction.”
Predicting its yearly results, Harley-Davidson has moved its goal posts to somewhere between 264,000 to 269,000 motorcycles shipped to dealers by the end of this year, which means that Harley-Davidson will ship roughly the same number of units that it did in 2015 (266,382 units shipped).
Harley-Davidson’s financial figures for Q2 2016 included $280.4 million in net income (-6.5%) and $1.86 billion in revenue (+2.2%), which continues Harley-Davidson’s six-month trend so far this year.