Harley-Davidson Reports Q3 2013 Sales Results
Harley-Davidson reported a 15.5% increase in motorcycle sales for the third quarter ended Sept. 30, 2013 compared to the same quarter last year. The news caps off an important quarter for Harley-Davidson that included the company’s 110th anniversary celebrations and the launch of its 2014 lineup including the new Twin-Cooled engines and Project Rushmore enhancements.
According to the company’s financial report, Harley-Davidson sold 70,517 motorcycles world wide over the third quarter, up from 61,053 motorcycles sold in the same period of 2012. U.S. sales were particularly strong, with Harley-Davidson selling 48,529 motorcycles in the quarter, up 20.1% from the 40,402 motorcycles sold in the same quarter the year before.
“Rider response to the 2014 motorcycles we introduced August 18 was extremely positive. In fact, initial retail sales of the new Project Rushmore motorcycles sparked the largest year-over-year new model year sales increase in two decades. We also capped our year-long 110th Anniversary celebration in late August when throngs of riders joined us in Milwaukee from around the world for a huge three-day party like only Harley-Davidson can throw,” says Keith Wandell, chief executive officer of Harley-Davidson. “Everyone at Harley-Davidson is proud of our accomplishments and results so far this year, as we continue to see the benefits of our manufacturing, product development and retail strategies. Our employees, dealers and suppliers come to work every day with a relentless focus on providing our customers a great experience.”
The increase in demand translated to $857 million in revenue from motorcycle sales, up from $774.0 million. Harley-Davidson also saw a jump in operating income to $175.5 million dollars compared to $144.8 million in the year prior. Revenue from parts and accessories also saw a 7.0% increase to $250.2 million. Sales revenue from general merchandise, including Harley-Davidson apparel, however, saw a 12.6% decrease to $66.1 million from $75.6 million; a surprising result considering the hoopla surrounding the 110th anniversary celebrations.
Overall, Harley-Davidson reported a net profit of $162.7 million in the third quarter compared to the $134.0 million reported last year. On the year, Harley-Davidson reports a profit of $658.6 million through three quarters of 2013, a big improvement on the profit of $553.3 million reported in the first nine months last year.
Looking ahead, Harley-Davidson expects to ship 259,000 to 264,000 motorcycles by the end of 2013.