Harley-Davidson President and Chief Executive Officer Keith E. Wandell has been named chairman of the company’s Board of directors. Wandell, who was named president and CEO in May 2009, takes over for Barry K. Allen who has served as a non-executive chairman for Harley-Davidson, also since 2009. “I am grateful for the confidence the Board […]
Harley-Davidson Reports Q1 2012 Results
Harley-Davidson reported a 20.3% increase in motorcycle sales over the first quarter of 2012, including a 25.5% increase in the United States.
According to Harley-Davidson‘s first quarter report, The Motor Company sold 59,677 motorcycles, worldwide, up from the 49,595 motorcycles reported in the same quarter of 2011. U.S. sales accounted for 39,762 units, up from 31,691 sold in the first three months of 2011.
Based on the industry-wide sales figures released by the Motorcycle Industry Council, Harley-Davidson accounted for approximately 36.3% of all first quarter motorcycle sales in the U.S. including about 51.6% of all streetbike sales. According to Harley-Davidson, more than a third of its sales were to customers who were new to the brand.
“We continue to be encouraged by the strong trend at retail and in earnings over the past several quarters,” says Keith Wandell, chairman, president and chief executive officer of Harley-Davidson. “Our first quarter performance reflects the outstanding appeal of our products, the ongoing results of our transformation strategy, the efforts of our dealers and employees, and improving macro-economic conditions in the U.S.”
Worldwide motorcycle sales generated $995.9 million in revenue in the first quarter, up 19.5% from $833.5 million reported last year. Total revenue including parts, accessories and other merchandise totaled $1.27 billion. Harley-Davidson Financial Services accounted for an additional $67.4 million in revenue, down slightly from $67.9 million reported last year.
Overall, Harley-Davidson made a profit of $172.0 million over the quarter, compared to $119.3 million in the first quarter of 2011.
Looking ahead, Harley-Davidson expects to ship 245,000-250,000 units by the end of 2012. Harley-Davidson also forecasts