e roaring sound of a Harley Davidson motorcycle being heard less on American streets as the baby boom generation ages out. The iconic bike-maker, Tuesday, forced to slash predictions on how many motorcycles it will ship this year. The underwhelming forecast causing a spin-out in the stock. Shares tumbling 10% Tuesday.
Harley has yet to find a way to replace its loyal baby boomer customer base here in the US, while, at the same time, global sales are slipping as well. This year, it expects to ship less than 250,000 bikes, way down from the 350,000 a year it was shipping just a decade ago.
Demand fell so swiftly at the end of last year, that the company decided to slow down on production of this year's models and take the rare step of offering discounts to try to lure customers back on a Hog. But its efforts have been less than successful. One reason, competitors like Polaris, the maker of the Indian brand motorcycle, and Japan's Honda, both dishing out promotional incentives as well.
Shares of Harley Davidson slumping to a one-year low.