Sales still dropped by five percent in the second quarter.

harley turns $215.8m q2 profit despite 2-week production shutdown

On May 19, 2022, Harley-Davidson halted production at its plants in Menomonee Falls, Wisconsin, and York, Pennsylvania. The shutdown was scheduled to last two weeks, potentially crippling the Motor Company’s Q2 2022 performance. Despite the hiatus lasting longer than the two-week estimate, Harley still reported a $215.8M profit in this year’s second quarter.

According to Harley-Davidson CEO Jochen Zeitz, the manufacturer closed production facilities and suspended vehicle shipments due to brake hose supply issues. Harley addressed the holdup and resumed production in early June. During that time, the Bar and Shield’s lower operating expenses and tariff reductions on steel and aluminum in the European Union helped the firm turn a profit.

“And despite the macro uncertainty, (Foreign Exchange Market), and inflationary pressure, and supply chain issues, we expect to deliver on our Hardwire ambitions,” stated Zeitz. “We believe that the Hardwire strategy is working. We’re making significant progress in transforming our business and now it’s the time to elevate our ambition beyond the current environment.”

Harley continues to contend with resource shortages, shipping delays, and inflation, but the brand is passing off those costs to customers. On average, prices on new and used Hogs have increased by 1.3 percent. Apparently, Harlistas don’t mind the modest price hike either, with the MoCo claiming that post-pandemic demand for leisure activities and road trips stabilized its motorcycles sales.

Still, the company posted a five-percent decrease in sales due to its inventory backlogs and extended restock intervals. In turn, those sliding sales led to a four-percent drop in revenue, which amounts to roughly $1.47 billion. Fortunately, reduced operation costs and a lucky break with the E.U. offset the production and sales woes.

“We continue to work through the knock-on effect of this action,” concluded Zeitz. “We’ve ramped up production, and we believe that we’ll be able to make up for the lost production throughout the remainder of the year.”

Harley, ultimately, turned a profit in Q2 2022, but the brand isn’t out of the woods yet. We’ll see if they can make up for lost sales in Q3 2022.

TECH NEWS RELATED

Watch Bad Bunny’s $3M Buggati Get Hit by a Lamborghini Urus

If Pulling up to Bad Bunny’s new Miami restaurant isn’t enough to get your attention, the superstar’s $3-million Bugatti Chiron should have gotten it done. However, while pulling up behind the Bugatti, the Lamborghini Urus driver gives the hypercar a little love bump. Unfortunately, with $3-million cars, there isn’t usually ...

View more: Watch Bad Bunny’s $3M Buggati Get Hit by a Lamborghini Urus

Do Ram 1500 Trucks Hold Their Value?

Today’s used truck market is wacky. The rule of thumb not that long ago used to be that the second you drove a new vehicle off a lot, it lost about one-third of its value. Not anymore as supply chain issues and more have complicated the used truck market. Some ...

View more: Do Ram 1500 Trucks Hold Their Value?

Bye, bye Baleno! Suzuki Australia axes its best-selling car

The Suzuki Baleno has accounted for almost 40 per cent of sales in 2022. Now it’s been dumped. Suzuki Australia has taken the extraordinary measure of axing its most popular model. No, not the Jimny – that may be the most in-demand vehicle the brand sells – but the ...

View more: Bye, bye Baleno! Suzuki Australia axes its best-selling car

National EV Summit to take place in Canberra this week as concerns form regarding Australia’s zero emission future

The summit, backed by Australian billionaire Mike Cannon-Brookes, is hoping to draw more support for electric vehicles to cut emissions down under

View more: National EV Summit to take place in Canberra this week as concerns form regarding Australia’s zero emission future

Suzuki And Tule Join Forces To Promote New AI-Powered Vision App

The Tule Vision App can help farmers optimize their water consumption and cut costs in the long run.

View more: Suzuki And Tule Join Forces To Promote New AI-Powered Vision App

The 2023 Dodge Hornet Is A Grocery Getter With The Need For Speed

Dodge is going against the likes of the Toyota RAV4 and Honda CR-V with a little help from Alfa Romeo. Based off the Tonale, the 2023 Dodge Hornet packs a couple of punchy engines including a plug-in hybrid. The Hornet’s front-end looks very similar to the Durango down to ...

View more: The 2023 Dodge Hornet Is A Grocery Getter With The Need For Speed

2023 Ford Ranger V6 v 2022 Volkswagen Amarok V6: Dragparison

The new Ford Ranger has a V6 engine option for the first time, but it’s not the only dual-cab ute to ditch the traditional four-cylinder turbo-diesel formula in search of more grunt. The outgoing Volkswagen Amarok has packed a V6 punch since 2017, and its 3.0-litre turbo-diesel actually packs more ...

View more: 2023 Ford Ranger V6 v 2022 Volkswagen Amarok V6: Dragparison

Turners boosts market share

Company celebrates surpassing pre-Covid performance in key areas and predicts further growth in the years ahead.

View more: Turners boosts market share

Nio opens second battery swap station in Europe EV hub, Norway

Here Are the Hot New Electric Cars and SUVs You Should Look Forward to

The Dodge Hornet GT Makes 265 HP and Has an LSD

A Love Letter To A VAG's EA888

Dodge Creates Electrification Buzz With All-New Hornet PHEV

Locked Your Keys in the Car: Who Do You Call?

Lyft, Motional Partnered to Bring All Electric Robotaxi Service in Las Vegas

2023 Dodge Hornet: Performance-Oriented Small SUV Lands Under $30,000

3 Ways to Make 1,000+ Driftable Horsepower

2023 Dodge Hornet Is Dawn of Brand's 'Electrified Performance' Era

Here are Some Exotic Machines the New Z06 Can Outrun

2023 Corvette Z06 Exhaust Isn't Your Average Set of Pipes

OTHER TECH NEWS

Top Car News Car News