Harley-Davidson posts 2% drop in revenue for Q2 2023, APAC sales buoyed by Japan and China
Posting its half-yearly report for 2023, American motorcycle maker Harley-Davidson recorded a 2% drop in overall sales revenue. This equates to a value USD 1.446 billion (RM6.55 billion) compared to USD 1.469 billion (RM6.66 billion) for the same period in 2022.
Consolidated operating income in the second quarter was down 20%, driven by a decline of 8 percent at H-D motorcycle sales, a decline of 31% at its financial services arm, and an operating loss of USD 32 million (RM145 million) in the LiveWire electric motorcycle segment. Consolidated operating income margin in the second quarter was 15.3% compared to 18.9% in the second quarter a year ago.
However, the H-D’s Asia-Pacific (APAC) market saw an increase of 24% in sales, buoyed by strong consumer demand in the Japan and China markets as well as from Australia. H-D’s home market of the US remained stagnant at 1% growth for 2023 while Europe, Middle East and Africa (EMEA) recorded a 6% drop in motorcycle sales for the brand.
The reduction in EMEA numbers was driven by a market exit and a planned shift towards profitable core product segments. Meanwhile, the Latin America market saw a 4% growth in retail bike sales, with weak sales in Mexico driving down the number.
In the electric motorcycle (e-bike) segment, things were not as rosy for H-D despite its spin-off brand LiveWire introducing the S2 Del Mar this year. LiveWire only delivered 33 units of the LiveWire One in the first half of 2023, compared to 225 units for the same time period in 2022.
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