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Harley-Davidson Hit By Slump - Cutting Jobs

  Posted at 01:03:54 PM
  File under  Harley-Davidson
  Author: Mike Werner
  Location: Normandy, France

Harley-Davidson logo
After the car manufacturers got badly hit by the economic downturn, it's now the turn of the motorcycle manufacturers. Though motorcycle manufacturers are weathering the storm better than their car counterparts, Harley-Davidson's model range is expensive, compared to the Japanese and even European manufacturers. So, many consider then luxury goods, and therefore when cash runs out, you forgo your luxury.

Harley have announced a sharp drop in earning during the fourth quarter of 2008. Harley's net income fell 58% for sales downturn of 6.6%, selling only a total of US$1.29 billion.

To reduce the impact to their bottom line, Harley is closing down a plant, shedding 1,100 workers. Time to ask Obama for a bail out?

Not good!!!

Via: Reuters

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