Harley Motorcycle Sales Drop 6.8% in 2017

Harley to close Kansas City plant

The company's quarterly revenue was up 12.2% compared to the same quarter last year. equities analysts expect that Harley-Davidson will post 3.41 earnings per share for the current year.

Unfortunately for fans of the legacy bike brand, the announcement of the futuristic product was a side dish to some really troubling news for Harley-Davidson.

The Kansas City plant is home to Harley's vehicle and powertrain operations, assembling all Dyna, Sportster and VRSC motorcycles, and manufacturing powertrains for V-Rod bikes.

The plant will continue to do the same work it does now - fabrication, paint and assembly, Lauer said.

Hiring will begin mid-year through the next 17 months.

Harley-Davidson will close their New Castalloy factory, impacting 120 local workers. The company expects to incur restructuring and other associated costs of $170.0 million to $200.0 million and capital investment of approximately $75.0 million over the next two years. The Stock has its 52-week High of $63.40 and 52-Week Low of $44.52 and it touched its 52-week high on 03/16/17 and 52-Week Low on 11/08/17.

In an official statement, Harley CEO Matt Levatich said, "This decision was extremely hard but necessary under the circumstances".

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"Our actions to address the current environment through disciplined supply and cost management position us well as we drive to achieve our long-term objectives to build the next generation of Harley-Davidson riders globally", CEO Matt Levatich said in a news release.

Hundreds of working families are now wondering what their future holds because of this self-proclaimed American icon's insistence on shipping our jobs to Asia and South America.

What does this mean for Kansas City? Harley-Davidson has announced that "it will invest more aggressively to lead in the application of electric motorcycle technology". "We expect certain worldwide markets, particularly in Asia and South America, to have higher growth rates in heavyweight motorcycles than the U.S.", Diedrich said. It's a motorcycle that is still a concept and is under production, but now Harley-Davidson seems intent on bringing it closer to a full-spec production model.

"Where is my next job?" asked plant employee Dominique Alstrok.

"Factors that impacted the decision were plant size and layout, and the need for additional investments in equipment and floor space", the Motor Company stated. It opened in 1998 and is one of Harley-Davidson's four USA factories.

HARLEY-DAVIDSON'S latest set of end-of-year figures make grim reading, with sales down 6.7% in 2017 and perhaps more worryingly dropping by 8.5% in its core U.S. market. "Which is kind of neat to see" said Milwaukee Harley General Manager Goran Zadrima. "I started off in HR, but my job was eliminated", Said Hill Evans.

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