Harley-Davidson Plans 50 New Models In Five Years

Harley-Davidson plans to introduce as many as 50 new models and increase drivers by adding new dealerships globally to increase sales and earnings for the Bar & Shield brand. This was disclosed by Harley-Davidson President and CEO Matt Levatich during a call with analysts after the release of the fourth quarter and annual 2016 earnings of the company. Internationally, Harley-Davidson added 40 new dealerships across the world in 2016 and intends to increase that number to 200 new dealerships by 2020.

"The success we saw with the launch of the Milwaukee-Eight engine is a sign of the innovation we have in place. We are confident our 2018 line will also help sales," Levatich is quoted as saying during the conference call in a Milwaukee Business Journal report. "I have never been more excited about the products in our pipeline."

While not sharing details about what those new products under development are, Levatich said they "will change the way people view Harley-Davidson. It will push us into new markets. We are definitely entering a new stage of product development."

(Harley-Davidson Milwaukee-Eight Engine)

Levatich said investments in new product development and manufacturing efficiencies will have lasting benefits for the Milwaukee-headquartered company. He underscored that Harley-Davidson plans to increase drivers - who may eventually become buyers by adding more foreign dealerships and introducing more riders into the Harley-Davidson lifestyle.

"We do not just build motorcycles, we build drivers too. We are focussing on the next generation of riders," Levatich said. "We want to add more dealers overseas and grow riders here in the United States, reaching out to new markets including younger riders, women, African-Americans and Hispanics."

(Harley-Davidson Roadster)

Harley-Davidson in their fourth quarter and full-year 2016 results declared that the company's overall sales fell 1.6 per cent compared to 2015. Retail sales in the US domestic market decreased by 3.9 per cent, but international sales grew by 2.3 per cent. The company however reported its best-ever retail sales results in the Asia Pacific region as well as Europe, Middle East and Africa (EMEA), growing by over 5.9 per cent.

(Source: Milwaukee Business Journal)