Due to the outbreak of the COVID-19, the automobile sector is trying to survive the situation. Meanwhile, the motorbike giant Harley Davidson dropped around 30% of the model range. Since the outbreak, Harley Davidson has faced a $92 million (Rs.687.5 crore) net loss.
The second quarter (Q2) data of the Harley Davidson shows a drop of around 27% in Global Sale. Meanwhile, the revenue slid by around 47% compared to the last year’s second quarter (Q2) revenue.
The Motorcycle giant now has decided to extend all its new releases to 2021. Hence, it is clear that the Pan America bike will not be arriving this year. Post the Harley Davidson Pan America the Bronx Streetfighter was scheduled which may take even longer.
‘Rewire’ strategy with which Harley Davidson came earlier at the beginning of the second quarter (Q2), the company has now opted for the ‘Hardwire’ strategy. Under the ‘Hardwire’ strategy, Harley Davidson has decided to slash around 30% of the model ranges focusing mainly on the dominant ones.
That means no small capacity, as well as no electric bikes, will launch this year.
Harley Davidson is already facing a lot of trouble after the ex-CEO, Matt Levatich left the company. Now, a 14% reduction in manpower is decided by the company. Hence, Harley Davidson to bid an early goodbye to around 700 of their employees worldwide.