Strong

Harley Raises Outlook, Cites Strong Demand

The iconic motorcycle manufacturer Harley-Davidson said on Monday (April 19) that strong retail demand, reduced dealer inventories and fewer loan write-offs drove better-than-expected first-quarter results, as well as an increased forecast for the year.

According to a press statement, the Milwaukee-based company said its revenues rose 10 percent to $1.2 billion, led by a 12 percent increase in its core business amid strong retail demand for touring motorcycles for the three months ending March 28.

At the same time, the company said its earnings more than tripled from a year ago, as its profit margins rebounded sharply and its financial services division set aside less money for expected loan losses.

“We can see the initial signs of consumer excitement and optimism returning and I am confident that Harley-Davidson in 2021 is a significantly leaner, faster and more

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2020 new car sales showed strong recovery after initial pandemic shutdown

Auto sales across the country came to a halt last spring, as the public first went into lockdown over coronavirus fears. A drop so precipitous that some brands stopped reporting monthly sales entirely. But surprisingly, after April, when sales dropped by three quarters, the market recovered. Such a massive and quick recovery, that brands started setting sales records. One brand even ended up the year with more sales than 2019, which might be one of the biggest surprises of the year.

After a strong January and February, sales were cut in half for March and dropped 75 per cent in April. Fleet sales, to commercial customers such as daily rental agencies, were especially impacted. Kia Canada vice-president and COO Elias El-Achhab told us in May that only one or two automakers saw any fleet sales in April. 2018 data from GM shows fleet sales made up 25 per cent of

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