Harley-Davidson has withdrew its financial forecasts as the coronavirus outbreak hurts its supply chain and warned further disruptions could dent its ability to supply and sell motorcycles. Last week, Harley said it would shut the majority of the production at its facilities in Pennsylvania and Wisconsin, starting March 18 through March 29, after an employee tested positive for the virus at its Wisconsin facility. The Harley-Davidson facilities temporarily suspending production include - Pilgrim Road Powertrain Operations in Menomonee Falls, Wisconsin, Tomahawk Operations in Tomahawk, Wisconsin, and York Vehicle Operations in Pennsylvania.
Last week, the company also asked all its non-critical employees at its headquarters and Production Development Centre in Milwaukee to work remotely till the end of March, whether that will continue or not is yet to be known. Furthermore, Harley-Davidson has also announced working with dealers to assess individual impacts and encouraged them to follow the public health guidelines in their communities for the safety of its consumers.
Harley-Davidson is not the only US automaker to withdraw its financial forecasts for this year due to coronavirus. Early this week General Motors also announced suspended its 2020 outlook, said it was evaluating its quarterly dividend, but has not yet decided to suspend it. As of the end of 2019, GM had $34.6 billion in liquidity, including $17.3 billion in cash. Among motorcycle manufacturers, Indian Motorcycle too announced stop making motorcycles for one week in its Spirit Lake, Iowa, in addition to other plants in Roseau, Minnesota, Osceola, Wisconsin, Huntsville, Alabama, Battle Ground, Washington, Monterrey, Mexico and Opole, Poland.