Harley-Davidson, Inc. (NYSE:HOG), at its latest closing price of $50.84, it has a price-to-book ratio of 5.01, compared to an industry average at 2.27.
Worldwide retail motorcycle sales were down 6.7 percent in 2017 from 2016, while USA retail sales slipped down 8.5 percent and global retail sales were down 3.9 percent. We've taken the feedback and expect the bike to be everything a Harley-Davidson motorcycle should be - a premium motorcycle experience. Matt Levatich, the president and chief executive officer of the company, said that the company is planning to bring the new motorcycle to market within 18 months.
"Harley Davidson's been a staple in our community for a while and that decision being in our backyard hits closes to home", Hayes said.
Harley-Davidson said it will close its Kansas City plant while disclosing sales late a year ago were down both in the United States and overseas. The move will result in 800 layoffs at the Kansas City facility, beginning midyear, and it will close by the third quarter of 2019.
"The EV market is in its infancy today and we believe it will drive excitement into our sport globally in both traditional and nontraditional spaces", he said on a conference call with analysts, following Harley's reporting of weak fourth-quarter, alongside full-year 2017, earnings.
Despite the dramatic fall in sales, it's worth noting that in the United States of America, where well over half all Harley-Davidsons are sold (147,972 in 2017), Harley still dominates the big bike market, accounting for more than 50% of all sales over 601cc. The investment will go towards technology, products and infrastructure needed to be a market leader in electric vehicles. The Milwaukee-based maker of heavyweight motorcycles is responding to a four-year sales decline and a steep drop in 2017.
A representative from Harley-Davidson has now confirmed in that the LiveWire concept, first revealed in 2014, will now form the basis of a production model. The goal is to be the world leader in the electric motorcycle market.
Harley-Davidson announced it will be consolidating its assembly plant in Kansas City, Mo. into its York County plant.
In 2018, the company expects to ship 231,000 to 236,000 motorcycles, down by 2-4%.
Harley-Davidson is not new to the electric motorcycle scene.
In its first estimate for the fourth quarter, Eurostat, the European Union's statistics agency, said Tuesday that the 19-country single currency bloc expanded by 0.6 percent in the October-December period from the three months before.