HOG - Harley-Davidson Motorcycle Sales Evaporate in Face of COVID-19 Pandemic
First-quarter motorcycle sales for Harley-Davidson (NYSE: HOG) were as terrible as you'd expect, plunging 18% worldwide from the year-ago quarter and down more than 15% in the U.S.
What might be more surprising is that the bike maker said quarter-to-date domestic sales had actually been up almost 7% before the pandemic struck in earnest in mid-March, which means that over the ensuing two-week period they all but disappeared.
It doesn't bode well for Harley-Davidson's second quarter, which is typically its biggest sales period, and perhaps for several quarters to come. That's why the motorcycle giant has undertaken an updated action plan that it is calling The Rewire.