Considering how much less power is required than for a auto, and how electrification of bicycles has been going on for some time now, it's perhaps a little surprising that electric motorcycles are not a bigger deal than they are already. It would've been easy for us to take our 40-year history of winning on the XR and white paper that thing and say 'let's just make it new and modern.' We didn't do that because we wanted to build our future around a production based motorcycle that we actually sell.
The announcement of a timeline for Livewire or another electric motorcycle comes on the same day Harley announced the closure of its Kansas City assembly plant with work transitioning to York, Pennsylvania. In the same period of a year ago, Harley-Davidson said it had EPS of $0.27 and $933.02 million in revenue.
Four years after unveiling the LiveWire project, an all-electric motorcycle prototype used in the Avengers series, Harley-Davidson finally confirms that it is bringing its first electric motorcycle to market.
Harley-Davidson opened the Kansas City plant in 1997 after the city beat 30 other cities in a competition for ideal conditions.
Harley's latest report also reveals it plans to close its Kansas City, MO plant. Over the past 12 months, the company's shares are down more than 12 percent.
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The restructuring will cost $170 million to $200 million before 2019, the company said.
Motorcycle sales were down 11.1% nationally last year, after years of climbing sales according to the owner of Topeka's Historic Harley Davidson dealership, Mike Patterson.
"Our assumptions include US retail dealer retail sales to be down, partially offset by growth in global retail sales", Harley's Chief Financial Officer John Olin told analysts on an earnings conference call.
So it's great to have Harley-Davidson.
Despite generally higher US consumer spending, Harley is grappling with an ageing customer base and younger, more price-sensitive buyers hesitant to embrace the iconic brand as previous generations have done.
"It's going to be a no-excuses, exhilaration Harley-Davidson Motorcycle", Harley-Davidson spokesman Michael Pflughoeft said of the new bike, which is still in development.
A spokesperson for Harley-Davidson, Michael Pflughoeft, said in a statement that it's "simply not true" that jobs are being shipped overseas to Asia and South America.