The American Motorcycle Company Has A Healthy Third Quarter
Harley-Davidson has been seeing a remarkable rebound as of late, despite a still struggling post-Covid, recession-pained economic climate. The Milwaukee moto marque has always been resourceful in adversity, as many times over they’ve proven the Mark Twain maxim, “The rumors of my demise have been greatly exaggerated.”
Editor-at-Large Ted Edwards and the 2021 Harley-Davidson Pan America, a game changer for the Motor Company.
The Motor Company has been a flurry of activity in recent years, from electric brand LiveWire going public, sales of their ground-breaking Pan America going through the roof, hints of a smaller Pan America seen in recent patent news, and the overall new focus and precise direction Jochen Zeitz has been leading the company, all contributing to a resurgence in the H-D universe.
The Harley-Davidson Sportster S, a bike we got to sample last year at the 2021 IMS Outdoors. Photo by H-D.
So when Harley-Davidson posted their 2022 third quarter report, it was not surprising to see the stats and conclude they appear to be moving in a good direction, returning to health and vitality. Despite a temporary suspension of production and shipments to Russia earlier this year, one of the Motor Company’s largest consumers overseas, H-D posted some encouraging numbers after several years of uncertainty and upheaval in their ranks.
Senior Editor Rob Brooks astride the Harley-Davidson Heritage Classic.
Here’s a few digits from their Q3 report, showing their progress this year:
*numbers in millions
Overall revenue- $1649 in 2022, 21% increase over 2021, which was $1365
Operating income- $339 in 2022, 66% increase over 2021, which was $204
Net income- $261 in 2022, 60% increase over 2021, which was $163
Revenue (bikes, parts/accessories, apparel, etc.)- $1437, 24% increase over 2021, which was $1161
Here’s some motorcycle sales numbers by region that we found interesting:
*numbers in thousands
Overall motorcycle shipments- 57.1 in 2022, 19% increase over 2021, which was 47.9
North America- 32.2 in 2022, slightly down from 2021, which was 33.9
EMEA (Europe, Middle East, Africa)- 9.1, slightly down from 2021, which was 9.4
Asia Pacific- 7.6, increase of 18% over 2021, which was 6.5
Latin America- 0.8, down from 2021 by 27%, which was 1.0
Harley-Davidson Sport Glide, a unique bike Nathan “GenZ Biker” got to sample.
Supply chain issues had a lot to do with these numbers, which of course adversely affected every brand globally. Yet as supply began to move again, Harley reports retail strength picked up in Q3 when dealer inventories started replenishing. Projections, in their report, show an expectation of revenue growth of 5-10% for full year 2022, after generating $575 million USD by the close of Q3.
The road ahead looks good. Photo by H-D.
A rising tide raises all ships, it has been said, and we wish the best for the legendary American motorcycle company. A resurgent Harley-Davidson is good for all motorcycling, whatever you ride. May they close 2022 on strong footing.
Have a great rest-of-the-week, and RIDE LIFE!
Road Dirt Crew