Harley-Davidson Reports 2013 Sales Results
2013 was an outstanding year for Harley-Davidson. The company mark its 110th anniversary and launch new water-cooled models and small displacement models and capped things off with a net profit of $734.0 million, up from $623.9 million in 2012.
“Without question 2013 was an outstanding year for Harley-Davidson. We unveiled game-changing motorcycles like Project Rushmore and Street, launched surge manufacturing, celebrated our 110th anniversary with customers around the globe and delivered continued financial growth,” says Keith Wandell, president and chief executive officer of Harley-Davidson, Inc.
According to the company’s 2013 year-end fiscal report, Harley-Davidson sold 260,839 motorcycles worldwide, up 4.4% from the 249,849 motorcycles sold in 2012. The fourth quarter was particularly strong as the new 2014 models hit the market. Harley-Davidson reported worldwide sales of 45,875 motorcycles in the final quarter, up 5.7% from the previous year. Earnings per share increased an impressive 20.6% to $3.28 compared to an EPS of $2.72 in 2012.
In the U.S., Harley-Davidson sold 168,863 motorcycles in 2013, up from 161,678 motorcycles sold in 2012. That figure represents 55.2% of the 305,852 new motorcycles with engine displacements larger than 601cc registered in the U.S., as reported by the Motorcycle Industry Council. Obviously, that statistic ignores the thousands of motorcycles with engines 600cc and smaller sold in the U.S., but it still shows how strong a grip Harley-Davidson has on the heavyweight motorcycle market in America.
Elsewhere, Harley-Davidson also reported increased sales in Canada, Japan, Asia and Latin America, but like most manufacturers, sales declined in Europe due to the weak economy in several key markets.
Revenue from motorcycle sales brought in $4.0 billion for Harley-Davidson in 2013, up 8.0% from 2012’s revenue of $3.8 billion. Sales of parts and accessories generated another $873 million in revenue, up from $860 million from the previous year.
“Harley-Davidson has been relentless at driving improvements throughout the organization that enable us to design, build and deliver motorcycles with unprecedented speed, efficiency, safety and quality,” says Wandell. “Together with our dealers, we continue to broaden our customer base and inspire riders to experience our brand. In 2013, retail sales of new Harley-Davidson motorcycles to outreach customers in the U.S. grew at more than twice the rate of sales growth to core customers, and we continued to expand the reach of our brand in international markets.”
Looking forward, Harley-Davidson expects to ship 279,000 to 284,000 motorcycles in 2014, an increase of 7%-9% from 2013.