MILWAUKEE — Harley-Davidson reported a 16% drop in retail motorcycle sales and a 22% drop in net income, during the latest quarter.
That's according to the Milwaukee Business Journal.
Harley-Davidson, based in Milwaukee, said Thursday that overall revenue was $1.55 billion for the quarter ending Sept. 30. That's 6% lower than $1.65 billion reported during the same quarter of 2022.
Harley-Davidson's net income was $198.6 million, or $1.38 per share, compared with $261.2 million, or $1.78 per share, a year ago, the BizJournal notes.
Top executive Jochen Zeitz blamed the sales decrease on "a challenging macro and consumer backdrop."
According to a press release, Zeitz said, "We will do everything possible to achieve our goals while being realistic that current market conditions are complex... We are gearing up for '24 and will ensure that we are fully aligned and ready as we close out the year with Q4."