Buell Motorcycles to be Discontinued and MV Agusta Sold Off as Harley…

20 Фев 2015 | Author: | Комментарии к записи Buell Motorcycles to be Discontinued and MV Agusta Sold Off as Harley… отключены
MV Agusta 1100 Grand Prix

Buell Motorcycles to be Discontinued and MV Sold Off as Harley Davidson Falls

Harley Davidson’s just came in and third-quarter net dropped 84%. But this out at me:

The company plans to discontinue its product line and sell its MV unit, essentially exiting the bike market.

The fact is we focus both our effort and our on the Harley-Davidson brand, as we believe provides an optimal path to meaningful long-term growth, CEO Wandell said in the release.

motorcycles will be discontinued, in the loss of 180 jobs over and MV Agusta will be sold. The are substantial and the work necessary to is enormous.

I have to admit, I was not that news. Wow.

add more details as they available but what are some directions for Buell? Harley needs to do what it must to the company and Buell may not fit into plans but that does not there is no place for Buell in the market. Ideas?

Buell plus Harley Davidson release:

Harley-Davidson announces 3rd quarter Unveils long-term business

MILWAUKEE (October 15, 2009) Harley-Davidson, Inc. (NYSE:HOG) decreased revenue, net income and per share for the third quarter of compared to the year-ago period, reporting a moderation in the decline of new Harley-Davidson motorcycle sales to the second quarter.

Worldwide sales of new Harley-Davidson® motorcycles 21.3 percent in the third compared to last year’s quarter, an improvement from the percent decline in this second quarter. An 84.1 decline in net income and an 84.5 decline in diluted earnings per from the year-ago quarter lower motorcycle shipments and the of the economy on retail and wholesale performance at Harley-Davidson Financial

Harley-Davidson also unveiled elements of its go-forward business to drive growth through a focus of efforts and resources on the strengths of the Harley-Davidson brand, and to productivity and profitability through improvement. As approved yesterday by Board of Directors, the Company discontinue its Buell product and divest its MV Agusta unit as of this strategy.

“While the environment remains for us, we are mildly encouraged by the moderation in the of dealer retail Harley-Davidson sales,” said Keith Chief Executive Officer of Inc. “And moving our strategy is designed to strengthen for long-term growth and deliver through increased focus.

“As our regarding Buell and MV Agusta we are moving with the speed and required to bring our business to life,” said Wandell. fact is we must focus our effort and our investment on the Harley-Davidson as we believe this provides an path to sustained, meaningful, growth.”

“Delivering Results Focus” Strategy

A key element of the go-forward strategy is to focus on the Harley-Davidson brand by leveraging Harley-Davidson strengths. The strategy company resources on Harley-Davidson and experiences, global expansion, outreach and commitment to core In addition, the Company will to expand its initiatives to enhance through continuous improvement in product development and business

“We are refocusing our business with the that we can provide growth is both profitable and sustainable the long term,” said “We believe we can create a bright future for our stakeholders through a focus on the Harley-Davidson brand.”

Details of Buell and MV Agusta

The Company will discontinue of Buell motorcycles. Remaining of Buell motorcycles, accessories and while they last, continue to be sold through dealerships. Warranty coverage continue as normal for Buell and the Company will provide parts and service through

The decision will result in a over time of about 80 production positions and about 100 positions at Buell. Employment end for a majority of Buell employees 18, 2009.

Harley-Davidson, Inc. to incur approximately $125 in one-time costs related to the of the Buell product line. The expects to incur approximately million of that amount year.

MV Agusta 1100 Grand Prix

Relative to MV Agusta, the will immediately commence to sell the business, which is in Varese, Italy.

In the third Harley-Davidson, Inc. recorded a fixed-asset impairment charge of million related to Buell and a impairment charge of $18.9 related to MV Agusta.

“Buell and MV Agusta are great with proud brands, exciting products and passionate for the motorcycle business. Buell has many innovative advancements in design and technology over the and MV Agusta is known in Europe for its high-performance sport motorcycles. our strategy to focus on the Harley-Davidson reflects the fact that we our investments in that brand are a utilization of overall company said Wandell.

Retail Sales.During the third quarter, sales of Harley-Davidson motorcycles 21.3 percent worldwide, percent in the U.S. and 13.1 in international markets, compared to the quarter. Industry-wide U.S. heavyweight (651cc+) motorcycle declined 35.9 percent the quarter, compared to the year-ago

For 2009 compared to 2008 nine months, retail of Harley-Davidson motorcycles decreased percent worldwide, 25.5 in the U.S. and 16.5 percent in markets. Industry-wide U.S. heavyweight motorcycle sales 38.7 percent year to in 2009, compared to 2008.

Harley-Davidson Financial Services

Financial Services recorded an loss of $31.5 million for the quarter of 2009 compared to an profit of $35.6 million in the quarter of 2008. This of $67.2 million was due to a higher for credit losses in both the and wholesale portfolios as well as interest expense.

Year to through the third quarter, reported an operating loss of million, compared to operating of $107.7 million for the prior period. The nine-month operating includes two non-cash charges in the second quarter of 2009: a million credit loss for a one-time reclassification of motorcycle receivables; and a one-time $28.4 charge to write off goodwill with HDFS.

HDFS to successfully access the credit to fund its lending activities. On 9, HDFS completed a $700 term securitization transaction a weighted average interest of 1.2 percent.

Update on Restructuring

On a combined basis, the Company previously announced restructuring together with the discontinuation of operations, to result in one-time of $215 million to $245 over 2009 and 2010, or an of $55 million from the estimate July 16, 2009. The Company annual ongoing savings restructuring of approximately $140 to $150 million.

The Company continues to pursue its announced “two path” to determine whether additional restructuring at York, Pa. facility can those operations competitive and long term, or alternatively, the Company will relocate operations to another U.S. As part of the restructuring analysis, the has begun contract talks the union representing employees at and expects to make a final on the status of the York operations by the end of year.

MV Agusta 1100 Grand Prix
MV Agusta 1100 Grand Prix
MV Agusta 1100 Grand Prix
MV Agusta 1100 Grand Prix
MV Agusta 1100 Grand Prix

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