Harley-Davidson’s Q3 2023 Challenges

Muiz Aziz

October 31, 2023

Harley-Davidson faced tough times in Q3 2023. CEO Jochen Zeitz shared highs and lows. CVO retail sales were up by 25 percent, but the overall outlook isn’t rosy.

Harley-Davidson’s structure splits into three parts: Harley-Davidson Motor Company (all bikes except LiveWire), Harley-Davidson Financial Services, and LiveWire. This division began in 2022 when LiveWire became independent.

In the big picture, Harley-Davidson Incorporated reported a 24 percent profit drop from Q3 2022. This hit stock shares, which fell by 11 percent.

Motorcycle sales in Q3 2023 showed a global decline of 16 percent. By region, North America sales fell by 15 percent, EMEA by 13 percent, Asia Pacific by 24 percent, and Latin America by 11 percent.

LiveWire, however, differs in reporting. They talk about “Electric Motorcycle Shipments” instead of sales. In Q3 2023, only 50 LiveWire bikes were shipped, a 76 percent drop from 206 in Q3 2022.

LiveWire is new and faces challenges. It’s now selling in Europe, where electric bikes are popular. In the US, LiveWire is working to establish itself and expand into other global markets, particularly with models like the S2 Del Mar, which might find more buyers.

In summary, Harley-Davidson’s Q3 2023 results are mixed. While motorcycle sales, especially for LiveWire, are a concern, the positive CVO sales and expansion into new markets offer hope. Harley-Davidson must innovate to stay relevant in this ever-changing industry.