Full-Year EPS Rises 20.6% on 5.7% Revenue Growth
New Harley-Davidson Motorcycle Retail Sales Grow 5.7% Worldwide in Fourth Quarter and 4.4% for Full Year
MILWAUKEE, WI – January 30, 2014 – Harley-Davidson, Inc. (NYSE:
HOG)
earnings and dealer new motorcycle sales continued their growth in the
fourth quarter of 2013 and for the full year, compared to the year-ago
periods.
Fourth-quarter diluted earnings per share increased 9.7% to
$0.34,
primarily on strong operating results in the Motorcycles segment,
including higher revenue and lower operating expense, compared to the
year-ago period. Fourth-quarter net income was
$75.4 million on consolidated revenue of
$1.19 billion, compared to net income of
$70.6 million on consolidated revenue of
$1.17 billion in the year-ago period.
Worldwide retail sales of new Harley-Davidson motorcycles grew 5.7%
in the quarter and 4.4% for the full year, compared to the year-ago
periods.
For the full year 2013, Harley-Davidson net income was
$734.0 million on consolidated revenue of
$5.90 billion, compared to full-year 2012 net income of
$623.9 million on consolidated revenue of
$5.58 billion. Full-year 2013 diluted earnings per share were
$3.28, up 20.6% from EPS of
$2.72 in 2012.
“Without question 2013 was an outstanding year for Harley-Davidson.
We unveiled game-changing motorcycles like Project Rushmore and Street,
launched surge manufacturing, celebrated our 110
th anniversary with customers around the globe and delivered continued financial growth,” said
Keith Wandell, Chairman, President and Chief Executive Officer of Harley-Davidson, Inc.
“Harley-Davidson has been relentless at driving improvements
throughout the organization that enable us to design, build and deliver
motorcycles with unprecedented speed, efficiency, safety and quality.
Together with our dealers, we continue to broaden our customer base and
inspire riders to experience our brand. In 2013, retail sales of new
Harley-Davidson motorcycles to outreach customers in the U.S. grew at
more than twice the rate of sales growth to core customers, and we
continued to expand the reach of our brand in international markets.
“None of these results would be possible without the great efforts of
our employees, dealers and suppliers, working as one team and moving in
one direction to fulfill customers’ dreams,” said Wandell. “Moving
forward, we believe we are well positioned to leverage our momentum,
expand our reach among new and existing customers, and further
strengthen Harley-Davidson’s position as one of the world’s leading
brands.”
Retail Harley-Davidson Motorcycle Sales
Dealers worldwide sold 45,875 new Harley-Davidson motorcycles in the
fourth quarter of 2013, compared to 43,405 motorcycles in the year-ago
quarter. In the U.S., dealers sold 27,387 new Harley-Davidson
motorcycles in the quarter, up 6.3% compared to sales of 25,753
motorcycles in the year-ago period. In international markets, dealers
sold 18,488 new Harley-Davidson motorcycles during the quarter, up 4.7%
compared to 17,652 motorcycles in the year-ago period, with unit sales
up 6.1% in the
Asia Pacific region, 5.5% in the EMEA region and 13.3% in
Canada, and down 2.8% in the
Latin America region.
For the full year 2013, dealers sold 260,839 new Harley-Davidson
motorcycles worldwide, compared to 249,849 motorcycles in 2012, with
retail unit sales up 4.4% in the U.S., 9.8% in the
Asia Pacific region, 13.1% in the
Latin America region and 4.6% in
Canada, and down 1.0% in the EMEA region, compared to the full year 2012.
Harley-Davidson Motorcycles and Related Products Segment Results
Fourth-Quarter Results: Operating income for the Motorcycles and Related Products segment (the Motorcycles segment) grew 14.3% to
$60.7 million in the fourth quarter of 2013, compared to operating income of
$53.1 million
in the year-ago period. Operating income in the quarter benefited from
higher revenue and lower operating expense compared to the prior-year
period.
Revenue from sales of motorcycles to dealers and distributors grew 1.4% to
$781.8 million, compared to revenue of
$771.1 million
in the year-ago period. The Company shipped 46,618 motorcycles
worldwide during the quarter, compared to shipments of 47,067
motorcycles in the year-ago period.
Revenue from motorcycle parts and accessories was
$169.3 million
during the quarter, up 4.8% compared to the year-ago period, and
revenue from general merchandise, which includes MotorClothes® apparel
and accessories, was
$75.9 million, up 2.5% compared to the year-ago period.
Gross margin for the Motorcycles segment was 31.5% in the fourth
quarter of 2013, compared to 31.8% in the fourth quarter of 2012.
Fourth-quarter operating margin for the Motorcycles segment was 5.9%,
compared to operating margin of 5.3% in last year’s fourth quarter.
Twelve-Month Results: For the full year 2013, the Company
shipped 260,471 motorcycles to dealers and distributors, a 5.2% increase
compared to 2012. Full-year revenue from motorcycles grew 8.0% to
$4.07 billion, revenue from parts and accessories grew 1.5% to
$873.1 million and revenue from general merchandise decreased 1.2% to
$295.9 million,
compared to 2012. Full-year gross margin for the Motorcycles segment
was 35.4% and operating margin was 16.6%, compared to 34.8% and 14.5%
respectively in 2012.
Financial Services Segment Results
Operating income from financial services was
$61.3 million in the fourth quarter of 2013, compared to
$63.0 million in last year’s fourth quarter. Full-year 2013 operating income from financial services was
$283.1 million, compared to
$284.7 million
in 2012. Results for the fourth quarter and full year reflect an
increased provision for credit losses, partially offset by favorable net
interest income.
Guidance
Harley-Davidson expects to ship 279,000 to 284,000 motorcycles to
dealers and distributors worldwide in 2014, an approximate 7% to 9%
increase from 2013 shipments. In the first quarter of 2014, the Company
expects to ship 76,500 to 81,500 motorcycles, compared to 75,222
motorcycles shipped in the year-ago period. The Company expects
full-year 2014 operating margin of 17.5% to 18.5% for the Motorcycles
segment. The Company expects 2014 capital expenditures for
Harley-Davidson, Inc. of
$215 million to $235 million.
Restructuring
Harley-Davidson realized a restructuring benefit of
$0.4 million in the fourth quarter of 2013, and a restructuring benefit for the full year of
$2.1 million. With the completion of restructuring activities in 2013, Harley-Davidson incurred total restructuring costs of
$479 million in the Motorcycles segment since the inception of restructuring in 2009. The Company realized savings of
$310 million
in 2013 from restructuring. The Company continues to expect the
now-completed restructuring activities to result in annual savings of
approximately
$320 million beginning in 2014.
Income Tax Rate
For the full year 2013, Harley-Davidson’s effective tax rate was
34.1%, compared to 35.1% in 2012. The lower effective tax rate was
primarily driven by the retroactive reinstatement of the Research and
Development Tax Credit. The Company expects its full-year 2014
effective tax rate will be approximately 35.5%.
Cash Flow
Cash and marketable securities totaled
$1.17 billion at year-end 2013, compared to
$1.20 billion at year-end 2012. In 2013, Harley-Davidson generated
$977.1 million of cash from operating activities, compared to
$801.5 million
in 2012. On a discretionary basis, the Company repurchased 2.7 million
shares of Harley-Davidson, Inc. common stock during the fourth quarter
of 2013 at a cost of
$176.3 million. For the full year 2013, Harley-Davidson repurchased 7.7 million shares of its common stock at a cost of
$455.6 million.
In the fourth quarter of 2013, there were approximately 222.2 million
Harley-Davidson weighted-average diluted common shares outstanding. At
the end of 2013, 8.6 million shares remained on board-approved share
repurchase authorizations.
Company Background
Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor
Company and Harley-Davidson Financial Services. Harley-Davidson Motor
Company produces custom, cruiser and touring motorcycles and offers a
complete line of Harley-Davidson motorcycle parts, accessories, riding
gear and apparel, and general merchandise. Harley-Davidson Financial
Services provides wholesale and retail financing, insurance, extended
service and other protection plans and credit card programs to
Harley-Davidson dealers and riders in the U.S.,
Canada and other select international markets.
For more information, visit Harley-Davidson’s Web site at
www.harley-davidson.com.
Conference Call and Webcast Presentation
Harley-Davidson will discuss fourth-quarter results on a Webcast at
8:00 a.m. CT today. The Webcast presentation will be posted prior to the call and can be accessed at
http://investor.harley-davidson.com/.
Click “Events and Presentations” under “Resources.” The audio portion
of today’s call will also be posted at harley-davidson.com beginning
approximately two hours after the conclusion of the call for one year.
The audio may also be accessed until
Feb. 13, 2014 by calling 404-537-3406 or 855-859-2056 in the US, pin number 2699 0236#.
Forward-Looking Statements
The Company intends that certain matters discussed in this release
are “forward-looking statements” intended to qualify for the safe harbor
from liability established by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements can generally be
identified as such because the context of the statement will include
words such as the Company “believes,” “anticipates,” “expects,” “plans,”
or “estimates” or words of similar meaning. Similarly, statements that
describe future plans, objectives, outlooks, targets, guidance or goals
are also forward-looking statements.
Such forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those anticipated as of the date of
this release. Certain of such risks and uncertainties are described
below. Shareholders, potential investors, and other readers are urged to
consider these factors in evaluating the forward-looking statements and
cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements included in this release are
only made as of the date of this release, and the Company disclaims any
obligation to publicly update such forward-looking statements to reflect
subsequent events or circumstances.
The Company’s ability to meet the targets and expectations noted
depends upon, among other factors, the Company’s ability to (i) execute
its business strategy, (ii) adjust to fluctuations in foreign currency
exchange rates, interest rates and commodity prices, (iii) manage
through inconsistent economic conditions, including changing capital,
credit and retail markets, (iv) manage through the effects inconsistent
and unpredictable weather patterns may have on retail sales of
motorcycles, (v) implement and manage enterprise-wide information
technology solutions, including solutions at its manufacturing
facilities, and secure data contained in those systems, (vi) anticipate
the level of consumer confidence in the economy, (vii) continue to
realize production efficiencies at its production facilities and manage
operating costs including materials, labor and overhead, (viii) manage
production capacity and production changes, (ix) manage changes and
prepare for requirements in legislative and regulatory environments for
its products, services and operations, (x) provide products, services
and experiences that are successful in the marketplace, (xi) manage
risks that arise through expanding international manufacturing,
operations and sales, (xii) manage the credit quality, the loan
servicing and collection activities, and the recovery rates of HDFS’
loan portfolio, (xiii) continue to manage the relationships and
agreements that it has with its labor unions to help drive long-term
competitiveness, (xiv) manage supply chain issues, including any
unexpected interruptions or price increases caused by raw material
shortages or natural disasters, (xv) develop and implement sales and
marketing plans that retain existing retail customers and attract new
retail customers in an increasingly competitive marketplace, (xvi)
adjust to healthcare inflation and reform, pension reform and tax
changes, (xvii) retain and attract talented employees, (xviii) manage
the risks that our independent dealers may have difficulty obtaining
capital and managing through changing economic conditions and consumer
demand, (xix) continue to have access to reliable sources of capital
funding and adjust to fluctuations in the cost of capital, (xx) continue
to develop the capabilities of its distributor and dealer network, and
(xxi) detect any issues with our motorcycles or manufacturing processes
to avoid delays in new model launches, recall campaigns, increased
warranty costs or litigation.
In addition, the Company could experience delays or disruptions in
its operations as a result of work stoppages, strikes, natural causes,
terrorism or other factors. Other factors are described in risk factors
that the Company has disclosed in documents previously filed with the
Securities and Exchange Commission.
The Company’s ability to sell its motorcycles and related products
and services and to meet its financial expectations also depends on the
ability of the Company’s independent dealers to sell its motorcycles and
related products and services to retail customers. The Company depends
on the capability and financial capacity of its independent dealers and
distributors to develop and implement effective retail sales plans to
create demand for the motorcycles and related products and services they
purchase from the Company. In addition, the Company’s independent
dealers and distributors may experience difficulties in operating their
businesses and selling Harley-Davidson motorcycles and related products
and services as a result of weather, economic conditions or other
factors.
TABLES FOLLOW
|
Harley-Davidson, Inc.
|
|
Condensed Consolidated Statements of Operations
|
|
(In thousands, except per share amounts)
|
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
Three months ended
|
|
Twelve months ended
|
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
|
|
|
|
|
|
|
|
|
Motorcycles and related products revenue
|
|
$ 1,032,292
|
|
$ 1,010,898
|
|
$ 5,258,290
|
|
$ 4,942,582
|
|
Gross profit
|
|
324,745
|
|
321,957
|
|
1,862,372
|
|
1,720,188
|
|
Selling, administrative and engineering expense
|
|
264,451
|
|
267,209
|
|
993,894
|
|
976,224
|
|
Restructuring (benefit) expense
|
|
(418)
|
|
1,634
|
|
(2,131)
|
|
28,475
|
|
Operating income from motorcycles & related products
|
|
60,712
|
|
53,114
|
|
870,609
|
|
715,489
|
|
|
|
|
|
|
|
|
|
|
Financial services revenue
|
|
158,342
|
|
159,962
|
|
641,582
|
|
637,924
|
|
Financial services expense
|
|
97,018
|
|
96,973
|
|
358,489
|
|
353,237
|
|
Operating income from financial services
|
|
61,324
|
|
62,989
|
|
283,093
|
|
284,687
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
122,036
|
|
116,103
|
|
1,153,702
|
|
1,000,176
|
|
Investment income
|
|
1,313
|
|
1,758
|
|
5,859
|
|
7,369
|
|
Interest expense
|
|
11,258
|
|
11,505
|
|
45,256
|
|
46,033
|
|
Income before income taxes
|
|
112,091
|
|
106,356
|
|
1,114,305
|
|
961,512
|
|
Provision for income taxes
|
|
36,682
|
|
35,717
|
|
380,312
|
|
337,587
|
|
Net income
|
|
$ 75,409
|
|
$ 70,639
|
|
$ 733,993
|
|
$ 623,925
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ 0.34
|
|
$ 0.31
|
|
$ 3.30
|
|
$ 2.75
|
|
Diluted
|
|
$ 0.34
|
|
$ 0.31
|
|
$ 3.28
|
|
$ 2.72
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares:
|
|
|
|
|
|
|
|
|
|
Basic
|
|
220,546
|
|
224,635
|
|
222,475
|
|
227,119
|
|
Diluted
|
|
222,241
|
|
226,726
|
|
224,071
|
|
229,229
|
|
|
|
|
|
|
|
|
|
|
Cash dividends per common share
|
|
$ 0.210
|
|
$ 0.155
|
|
$ 0.840
|
|
$ 0.620
|
|
Harley-Davidson, Inc.
|
|
Condensed Consolidated Balance Sheets
|
|
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
|
2013
|
|
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ 1,066,612
|
|
$ 1,068,138
|
|
|
|
|
|
Marketable securities
|
|
99,009
|
|
135,634
|
|
|
|
|
|
Accounts receivable, net
|
|
261,065
|
|
230,079
|
|
|
|
|
|
Finance receivables, net
|
|
1,773,686
|
|
1,743,045
|
|
|
|
|
|
Inventories
|
|
424,507
|
|
393,524
|
|
|
|
|
|
Restricted cash
|
|
144,807
|
|
188,008
|
|
|
|
|
|
Other current assets
|
|
219,117
|
|
292,508
|
|
|
|
|
|
Total current assets
|
|
3,988,803
|
|
4,050,936
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance receivables, net
|
|
4,225,877
|
|
4,038,807
|
|
|
|
|
|
Prepaid pension costs
|
|
244,871
|
|
-
|
|
|
|
|
|
Other long-term assets
|
|
945,489
|
|
1,081,030
|
|
|
|
|
|
|
$ 9,405,040
|
|
$ 9,170,773
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
Accounts payable & accrued liabilities
|
|
$ 667,129
|
|
$ 770,977
|
|
|
|
|
|
Short-term debt
|
|
666,317
|
|
294,943
|
|
|
|
|
|
Current portion of long-term debt
|
|
1,176,140
|
|
437,162
|
|
|
|
|
|
Total current liabilities
|
|
2,509,586
|
|
1,503,082
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt
|
|
3,416,713
|
|
4,370,544
|
|
|
|
|
|
Pension and postretirement healthcare liabilities
|
|
252,536
|
|
608,356
|
|
|
|
|
|
Other long-term liabilities
|
|
216,719
|
|
131,167
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total shareholders’ equity
|
|
3,009,486
|
|
2,557,624
|
|
|
|
|
|
|
$ 9,405,040
|
|
$ 9,170,773
|
|
|
|
|
|
Harley-Davidson, Inc.
|
|
Condensed Consolidated Statements of Cash Flows
|
|
(In thousands)
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
Twelve months ended
|
|
|
|
|
|
|
December 31,
|
|
December 31,
|
|
|
|
|
|
|
2013
|
|
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
$ 977,093
|
|
$ 801,458
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
(208,321)
|
|
(189,002)
|
|
|
|
|
|
Finance receivables, net
|
|
(412,011)
|
|
(90,612)
|
|
|
|
|
|
Net change in marketable securities
|
|
35,110
|
|
18,303
|
|
|
|
|
|
Other
|
|
16,355
|
|
-
|
|
|
|
|
|
Net cash used by by investing activities
|
|
(568,867)
|
|
(261,311)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of medium-term notes
|
|
-
|
|
993,737
|
|
|
|
|
|
Repayments of medium-term notes
|
|
(27,858)
|
|
(420,870)
|
|
|
|
|
|
Proceeds from securitization debt
|
|
647,516
|
|
763,895
|
|
|
|
|
|
Repayments of securitization debt
|
|
(840,387)
|
|
(1,405,599)
|
|
|
|
|
|
Net increase (decrease) in credit facilities and unsecured commercial paper
|
|
371,085
|
|
(744,724)
|
|
|
|
|
|
Net borrowings of asset-backed commercial paper
|
|
88,456
|
|
200,417
|
|
|
|
|
|
Net repayments of asset-backed commercial paper
|
|
(78,765)
|
|
(24,301)
|
|
|
|
|
|
Net change in restricted cash
|
|
43,201
|
|
41,647
|
|
|
|
|
|
Dividends paid
|
|
(187,688)
|
|
(141,681)
|
|
|
|
|
|
Purchase of common stock for treasury
|
|
(479,231)
|
|
(311,632)
|
|
|
|
|
|
Excess tax benefits from share-based payments
|
|
19,895
|
|
13,065
|
|
|
|
|
|
Issuance of common stock under employee stock option plans
|
|
50,567
|
|
45,973
|
|
|
|
|
|
Net cash used by financing activities
|
|
(393,209)
|
|
(990,073)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents
|
|
(16,543)
|
|
(8,886)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash and cash equivalents
|
|
$ (1,526)
|
|
$ (458,812)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents:
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents – beginning of period
|
|
$ 1,068,138
|
|
$ 1,526,950
|
|
|
|
|
|
Net decrease in cash and cash equivalents
|
|
(1,526)
|
|
(458,812)
|
|
|
|
|
|
Cash and cash equivalents – end of period
|
|
$ 1,066,612
|
|
$ 1,068,138
|
|
|
|
|
|
Motorcycles and Related Products Revenue and
|
|
Motorcycle Shipment Data
|
|
(Unaudited)
|
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
Three months ended
|
|
Twelve months ended
|
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
MOTORCYCLES AND RELATED PRODUCTS REVENUE (in thousands)
|
|
|
|
|
|
|
|
|
|
Motorcycles
|
|
$ 781,772
|
|
$ 771,137
|
|
$ 4,067,510
|
|
$ 3,764,794
|
|
Parts & Accessories
|
|
169,296
|
|
161,564
|
|
873,075
|
|
859,945
|
|
General Merchandise
|
|
75,876
|
|
74,028
|
|
295,854
|
|
299,403
|
|
Other
|
|
5,348
|
|
4,169
|
|
21,851
|
|
18,440
|
|
|
$ 1,032,292
|
|
$ 1,010,898
|
|
$ 5,258,290
|
|
$ 4,942,582
|
|
|
|
|
|
|
|
|
|
|
MOTORCYCLE SHIPMENTS:
|
|
|
|
|
|
|
|
|
|
United States
|
|
27,202
|
|
29,358
|
|
167,016
|
|
160,477
|
|
International
|
|
19,416
|
|
17,709
|
|
93,455
|
|
87,148
|
|
Total
|
|
46,618
|
|
47,067
|
|
260,471
|
|
247,625
|
|
|
|
|
|
|
|
|
|
|
MOTORCYCLE PRODUCT MIX:
|
|
|
|
|
|
|
|
|
|
Touring
|
|
20,486
|
|
21,637
|
|
107,213
|
|
99,496
|
|
Custom
|
|
18,222
|
|
17,995
|
|
102,950
|
|
96,425
|
|
Sportster®
|
|
7,910
|
|
7,435
|
|
50,308
|
|
51,704
|
|
Total
|
|
46,618
|
|
47,067
|
|
260,471
|
|
247,625
|
|
Worldwide Retail Sales of Harley-Davidson Motorcycles
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Twelve months ended
|
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
|
North America Region
|
|
|
|
|
|
|
|
|
|
United States
|
|
27,387
|
|
25,753
|
|
168,863
|
|
161,678
|
|
Canada
|
|
1,186
|
|
1,047
|
|
11,062
|
|
10,573
|
|
Total North America Region
|
|
28,573
|
|
26,800
|
|
179,925
|
|
172,251
|
|
|
|
|
|
|
|
|
|
|
Europe, Middle East and Africa Region (EMEA)
|
|
|
|
|
|
|
|
|
|
Europe*
|
|
5,636
|
|
5,360
|
|
35,927
|
|
37,027
|
|
Other
|
|
1,563
|
|
1,461
|
|
6,682
|
|
6,000
|
|
Total EMEA Region
|
|
7,199
|
|
6,821
|
|
42,609
|
|
43,027
|
|
|
|
|
|
|
|
|
|
|
Asia Pacific Region
|
|
|
|
|
|
|
|
|
|
Japan
|
|
2,583
|
|
2,727
|
|
10,751
|
|
10,642
|
|
Other
|
|
4,530
|
|
3,980
|
|
16,139
|
|
13,839
|
|
Total Asia Pacific Region
|
|
7,113
|
|
6,707
|
|
26,890
|
|
24,481
|
|
|
|
|
|
|
|
|
|
|
Latin America Region
|
|
2,990
|
|
3,077
|
|
11,415
|
|
10,090
|
|
|
|
|
|
|
|
|
|
|
Total Worldwide Retail Sales
|
|
45,875
|
|
43,405
|
|
260,839
|
|
249,849
|
|
Total International Retail Sales
|
|
18,488
|
|
17,652
|
|
91,976
|
|
88,171
|
|
|
|
|
|
|
|
|
|
|
Data Source
|
|
|
|
|
|
Data source for retail
sales figures shown above is new sales warranty and registration
information provided by Harley-Davidson dealers and compiled by the
Company. The Company must rely on information that its dealers supply
concerning new retail sales, and this information is subject to
revision.
|
|
|
|
|
|
|
* Europe data includes
Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy,
Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland,
and the United Kingdom.
|
|
Motorcycle Registration Data(1)
|
|
|
|
|
|
|
|
Twelve months ended
|
|
|
December 31,
|
|
December 31,
|
|
|
2013
|
|
2012
|
|
United States2
|
|
305,852
|
|
299,384
|
|
|
|
|
|
|
|
Twelve months ended
|
|
|
December 31,
|
|
December 31,
|
|
|
2013
|
|
2012
|
|
Europe3
|
|
281,844
|
|
300,415
|
|
|
|
|
|
|
1 – Data includes street
legal 601+cc models. Street legal 601+cc models include on-highway,
dual purpose models and three-wheeled vehicles.
|
|
|
|
|
|
|
2 – United States data is
derived from information provided by Motorcycle Industry Council (MIC).
This third party data is subject to revision and update.
|
|
|
|
|
|
|
3 – Europe data includes
Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy,
Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland,
and the United Kingdom. Industry retail motorcycle registration data
includes 601+cc models derived from information provided by Association
des Constructeurs Europeens de Motocycles (ACEM), an independent
agency. This third-party data is subject to revision and update.
|
SOURCE Harley-Davidson, Inc. By press release
