HARLEY DAVIDSON Sales Down in 2024? Q1 2024 Business Update!
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- čas přidán 18. 05. 2024
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HARLEY DAVIDSON Sales Down in 2024? Q1 2024 Business Update! In this video we take a close look at Harley Davidson Financial Results for 1 2024 and how motorcycle sales look for 2024! #harleydavidson #sales #businesupdate #financials #RidingintheOzarks
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Chapters:
0:00 Intro - Auta a dopravní prostředky
Do you think the economy is hurting Motorcycle Sales in the US?
The economy is hurting everything in sales. Thanks lunchbox Joe.
The economy and the new copycat design
People are having a hard time paying for their basic necessities like food and gas just to get to work! All utilities and taxes have went up! People just don’t have deposable income to by a Harley or anything else that’s not critical!
"Do you think the economy is hurting Motorcycle Sales in the US?"
Not just motorcycle sales but just about everything we encounter in our daily lives. My local H-D dealer (mom and pop shop that just celebrated their 40th year) is hanging in there but they've scaled back. Weekday visits and I'm the only customer in there. Visited my workplace (been recovering from major surgery) recently and the parking lot is half empty. Just got the bill for the car insurance and it's jumped over $500 a year. A trip to the grocery store is an eye opener. and we're just getting started. When you've got idiots in Washington D.C. in charge who couldn't empty a boot full of water with the instructions printed on the heel we are all in trouble. Excellent analysis as always Mike- the Motor Company seems to be in a pretty good place to ride this out.
It’s the economy PLUS a motorcycle is not a necessity.
I still can't believe how expensive the 2023 leftover models are. I pissed a salesman off because they have a '23 Street Glide ST for $34,000, and I asked "why would I pay that when I can get a '24 out the door for less than that?" Then he said "we can take $4,000 off of that." "Again, my out the door price would be more than a '24." Yeah, he wasn't happy.
Ripp off...
I experienced the same thing here in Georgia. The dealer mark ups are really outrageous
I got a huge reduction on a new 23 low rider s. I saw a 21 model the other day with 16000kms sell for what I paid for mine. The guy that sold it to me said that when he creates the vin number it will actually say it’s a 24 model.
... wut are you talking about? First of all, If you're talking about the Softails, every single bike in 24 is UNCHANGED from 23, except for colors.
If your talking about the Touring, ONLY the Street and Road Glide have all new models, both of which have higher displacement engines, STOCK, new ride modes and electronics, but are built with the same frame and basic components. The Road King, Limited, and Ultra, are completely unchanged from 24.
The thing about the 23 ST. Is it's technically now a "rare" model. The ST doesn't exist anymore outside of the CVO for 24. The 24 base model has newer features but the 23 ST has a sportier tune and a higher ride height. The only reason imo you would go for the 23 is if you absolutely don't like the new Fairing. But other than that, the 24 is better in every way
Too bad he wasn't happy.He's not spending his money.😤Do your homework.Figure out how much you are going to spend out the door,and make an offer.You want a yes or no answer without the bird seed.If they continue to try and dance you around,walk out and don't go back.Find another dealer who is more realistic in their pricing.Good luck!
Absolutely. Rates are too high!
Well Mike, count me in on those who bought a new 2024 model ! I think that sales will continue to climb based on how good the new touring models are. Great video as always !
The dealership near my house is overflowing. Even if the manufacturer wanted to ship more bikes there's no place to put them.
Mine too.
Are you located in south Florida? If not, same here. No empty floor space. They have such a large inventory, the had to fence in their back parking and they’ve been keeping bikes outside overnight. Glad my bike isn’t there.
@@sparkyastwoMy observation was in Central Texas.
Aftermarket parts support for new grand touring models is still very weak and all the software issues are keeping me on the sideline till 2025.
Awesome information and the new place seems to be coming along well 😀 ...... have great weeks and better weekends
Mike, I am pretty sure the US economy is hurting every industry. What you are showing is that H-D is pretty much on par with the rest of the motorcycle industry so people should not be so quick to jump ship.
This. Indian and the big four Japanese bikes are down too, in fact, Yamaha has discontinued their flagship liter bike, the R1, and Suzuki did the same to their highest end GSX R
Mike, the first thing I noticed is that it’s been a while since your last post. When I tuned in today, I saw the new backdrop, then it clicked.
Happy to have you back and in a new place. Thanks for the H-D update. As a current stock holder, I had to vote some things in and out. The sales will soon climb back up… just wait and see.
In the meantime, keep your knees in the breeze and safe riding.
Good info thanks!!
Love the report Mike, excellent job! I'm looking for a used Bagger, (Street or Road), wish I could afford to go new, but interest way too high. Lol. Congrats on the new digs, I hope you and the Firecracker have many wonderful memories there. 😊
Well done thanks for sharing this video!
Glad you enjoyed it!
Good stuff once again Mike. The economy is no doubt a huge player in the outlays of all of these dealers. Large motorcycles are still really a luxury item for many, not the basic transportation as in many other parts of the world. When Honda predicts lower sales, certainly Milwaukee made Iron will also suffer a bit.
That was informative. Thanks 🤘⚡️🤘✨✨✨
Great analysis, as usual Mike!
I couldn't agree more with your points. I truly hope Harley continues to prioritize customer feedback, as it's essential for product development.
It would be fantastic if they opened up more opportunities for those of us who aspire to work and contribute to the company from inside.
I've always have said that Harley was wasting their R&D money on the LiveWire. They would have made a lot more money with the a the sport bike. After awhile they will be loosing older riders like myself. I'm on my last Harley. After this I might by a Miata.
Today maybe, but definitely not tomorrow. Folks don't read the tea leaves, because what they expect and desire is no longer there.
Good info
Well 25k for a riadglide is crazy 17k is what it needs to be or cheaper
Hey Man Mountain Mike, congratulations on your new studio. We have missed you lately brother.
Thanks for the heads up and analysis on HD’s economic situation. I really enjoyed the comparison with Honda and Polaris. We appreciate the work and research you put in here.
Y’all peace out and stay safe out there on the upcoming Memorial Day weekend and thank a veteran for the sacrifice his and her deceased comrades made when they gave their all for our freedom.
Yeah we been busy moving in but I should have some content coming more regularly now!
I look forward to your financial results videos the most. I knew that dealers pay interest on the bikes, unless the dealership owners buy them out right. J&L Harley Davidson in South Dakota have 3 dealerships thats what they do. These big ownership/automotive groups don’t, that’s why you see $3000 to $10,000 markups in those dealerships. That’s also why they are really pushy and aggressive with you when you come in.
Harley is the only one out of the manufacturers that have a financial wing that can give good rates & terms as well & that helps them to be more competitive against Indian & Honda. Go check out Indian dealers, their rate & discounts are not great, but they been knocking $2000 off there 2023 models because they have so many sitting on their floors.
Great video, boss. This is crazy. HD is sending riders away like on a road glide LOL. Insane pricing on these bikes. Riders are watching the dollar many folds than use to. For me, the Goldwing was a great value on all levels. Yes, it's a completely different Apple, but still. Believe or not, I was able to buy extended coverage that kicks in after the factory one, for 5 more years, B 2 B for 750.00 including RSA.
Axiam and Goupil, the two other major portions of Polaris's on road segment can probably be assigned a third of the quarterly number. You can find references in some EU trade sites about their overall volume. So that leaves Indian and Slingshot rounding out how much Polaris makes in that Segment. However, unlike Harley Indian accounts for all PG&A in those numbers and using the ratio Harley has that means around ten percent or more is PG&A.
Harley has two major problems, the biggest is all that unsold inventory. That number has ballooned back to near the 2019 peaks. 70k is basically four months of sales just sitting there and since the number is increasing it means Harley needs to dial back production. The second problem is the Sportser line and Pan America sales numbers are just dreadful. The motor and specifically the radiator need a full packaging remake. Harley motors need to look good from both left and right and this motor does not. Harley has basically ceded the small cruiser market to Indian and with the new 2024 Scouts Harley's now just look cheap.
Sales and forecasts may be down but the same holds true for Apple, Stellantis and many other blue chip companies. Given the macroeconomic trends, it would be unreasonable to expect otherwise. Honda will do better than most because they sell practical vehicles for cost conscious buyers. Given that Harley sells in the top end of the motorcycle market and they are a luxury discretionary purchase, they could be doing a lot worse.
Thanks for the thoughtful summary.. good job. I think inflation caused by horrific federal policy has just crushed the American consumer. The evidence includes all time record high credit card debt, all time high auto loan defaults, the emerging trend of 401k hardship withdraws and the fact that politicians are using “debt forgiveness” which is really just moving the debt to the tax payers as a young voter incentive. I encourage all who can to strive for debt free living as you will be better able to afford enjoyable things like the thrill of a tour of our still beautiful country on the back of a Harley Davidson. Peace to you and yours👊
Maybe if you're a homosexual.Theyre all in on gay pride so I'm all out.
Corporate profits are at a 70 year high across the board. Corporate greed continues to drive cost of living up for working middle class.
Mike,
You are on spot on your analysis. My take is that in HD case the problem is dual - first is the economy itself that people are not spending money on superfluous stuff such as a motorcycle (specially one that ain't cheap) - in this case, it affects all brands
Secondly, I'm an old timer and in my view, the product mix that HD is bringing on the market is losing their major asset which is their identity.
I understand that the new touring models are excellent motorcycles (so are the Softail in terms of engineering and handling - I own a LR S and it's the motorcycle I ride the least)....but the look and feel is gone.
See, there are very few products that still retain some of the original HD look (Low Rider S and Heritage Classic are two examples). - The new watercooled "sportsters" don't even come close to the looks of the air cooled counterparts..... As for the Touring, I've grown up knowing that an Electra Glide would have passing lamps and their respective flat turn signals underneath them - now you can't have that on the Street Glide
Not to mention on how close they resemble the Indian models - in the past, HD was the one to be copied - Every Japanese manufacturer would have a cruiser model trying to mirror HD...
Considering Indian copied HD’s look on their fairings, can you really say that they “look like Indians”? The challenger was a direct rip off of the road glide fairing. You are correct that HD was the one to be copied and Indian did just that. So the Indians are trying to look like HD. Not the other way around.
They really need to shave down prices on all Softail models especially!
this is not an industry specific problem. This is an economic problem. The motorcycle industry is not the only industry projecting shortfalls for 2024 and reeling in or scaling back their production as we speak. We are teetering on a major major recession, if not a straight depression at this point.
I don’t see how when I see new ones everywhere I ride to but maybe my part of California is doing good I know I’m making more money than ever before but I already have two Harleys I don’t really need a new one yet
Looking at used HDs and the market is good there. Lots of premium low milage baggers out there. A lot of owners are starting to realize they may have to actually lower their prices to compete with dropping prices on new bikes?
Motorcycles in general are getting out of hand price wise...Even though I can afford it...not likely I would spend over $30000 on a new motorcycle...hard to justify for a toy.
Dealers actually have to order their inventory. The manufacturer doesn’t just decide to ship more or less bikes. And the credit line the dealers use to buy and stock motorcycles is called Floor Plan.
They order models but don’t control when they get them, sometimes they order models months in advance.
I ride Harleys, but the cost of new models is just plain loco.
The revenue and profit is ok for HD but the dark cloud hanging over their head is their debt to equity ratio is creeping up and if it get's much higher there will be more investors selling. It's already above what I consider is good.
Interest rates and price is hurting all sales across the board in my opinion. Not to mention the quality of HD is down. To many problems with 22s and all new 23 and 24s
No wonder the issues I've had with my road glide 2024
$3700 profit per unit. Blows my mind.
That’s just on the unit sale. Tremendous profit made on ancillary products like financing and warranty. Factor in $4k profit on most trade ins, dealership make $10k once all the dust settles
😎👍
Between interest rates, and the less expensive 24 model touring bikes it’s a recipe for disaster. The dealers have a lot of bikes used on the floor that they put too much money in, not knowing that the 24 models would be so much less. The motor company also help inflate prices due to lower production to drive up demand. I certainly wouldn’t want to be a dealer right now. However it’s a buyers market if you are sitting on cash.
Harley Davidson sales are only 50% of what they were 10 years ago. Unless HD stops the bleeding this will eventually lead to bankruptcy or a corporate takeover.
Between dealers being scumbags and insane prices it makes it difficult to say “I’m gonna sell my old Harley for peanuts and buy a very over priced behemoth “
I ain’t financing a fuckin motorcycle
The new bikes are junk especially the standard models. My buddy bought a standard. They look cheap they feel cheap and they are cheap. The flimsy hard bags are the worst. The digital screen is ok but when it screws up you down a bike. You can definitely see where the cut corners to cut a little cost. The CVO ST is the only decent looking one to me. Good luck to those who buy them.
"Rates too high" folks are drunk on the Feds Covid response and have forgotten what typical interest rates are for a sustainable economy.
Still hoping the road king gets a price decrease in the future.
I wont be buying a 2024, im perfectly fine with my 2021 Street glide
besides, im not 100% sold on the all electronic screen.
I see this going in 1 direction only, Harley will want to start to charge a monthly subscription like other automobile manufacturers have. Soon things like wont work unless you pay the monthly subscription, GM has been doing it for years, Harley will follow either next year or the year after, sure they will add a few extra things that will also only be included in a monthly subscription. Harley wants the continuous revenue stream
I will keep my 2021 that will not be controlled be Harley - I'm 100% confident this is the only reason Harley introduced the all in electronic screen. sometimes between 2025 model year and 2026, im sure they have a specific number they want to obtain before they actually introduce but its already installed from the factory, just not yet turned on
H-D should have been allowed to go bankrupt in 1972... not bailed out by AMF. H-D has same issues as US auto corps. most of their products blow. H-D keeps listening to the woke crowd, not the people who used to buy them.
That's another problem, the majority of the people that used to buy them have stopped riding due to their age and there's not a lot of interest by the younger generation to ride motorcycles.
They cost too fuckin much!
You can only rob people for so long and the greed consumes them
The economy is bad vote ❤
Vote bikers for Trump