On October 27, 2021, Harley-Davidson reported its 2021 Q3 financial results, which are largely positive as compared to the same time period in 2020. Chairman, president, and CEO Jochen Zeitz credits the company’s ongoing enactment of its five-year strategy with what he terms “a solid third quarter.”
In the past nine months, the Motor Company has seen North American retail motorcycle sales rise as sales in other markets have fallen. Overall, sales for the first nine months of 2021 were up 25 percent over 2020 in North America alone, which was offset by sales declines in the double digits in other markets. However, North American sales were strong enough to bring the worldwide sales total to a nine percent increase over 2020 for the first three quarters of 2021.
As far as the rest of the world is concerned, Harley says that the falling sales in “unprofitable segments and markets” are partly a result of the strategic decisions made as part of the Rewire strategy. Unsurprisingly, the company also cites ongoing supply chain issues and global shipping slowdowns with some of its problems—as is likely the case with a lot of international companies right now.
For the third quarter alone, when broken down into segments, motorcycle revenue rose by 29 percent in 2021 Q3 year-on-year. Parts and accessories revenue declined by three percent, while general merchandise sales remained steady. Overall revenues rose 20 percent over Q3 2020, which is of course infinitely preferable to a negative showing.
“Harley-Davidson delivered a solid third quarter and we have seen many of our Hardwire strategic initiatives perform well, providing encouraging initial proof points of our five-year strategy,” Jochen Zeitz said in a statement.
“Our teams continue to work to mitigate the impact of the ongoing supply chain challenges that our sector faces, however our performance underlines that we are on course to deliver our long-term Hardwire strategy,” he concluded.