It is nearly Halloween, probably the most orange-and-black time of the 12 months. It is also quarterly monetary report time, which signifies that Harley-Davidson simply dropped its Q3 2024 monetary stats on the world.
How did it do? Apparently, of us do not love the orange and black as a lot as the corporate most likely needs they did. Or, no less than, not based on the cargo and gross sales numbers.
As a refresher, when Harley talks in regards to the bikes it produces, it refers to issues in 3 ways. LiveWire is included on this report, but it surely’s thought-about as its personal class. It is a class that features all EV models, which incorporates each LiveWire and StaCyc, the kids’s electrical steadiness bike model that Harley additionally owns.
Over on the ICE motorbike aspect, Harley-Davidson studies in two classes: Bike Shipments, and Bike Gross sales. For LiveWire, which as we have mentioned consists of all EV motorbikes, the 2024 figures all replicate Electrical Bike Gross sales. For the primary 5 quarters that LiveWire was reported individually in Harley’s quarterly monetary studies, the corporate reported Electrical Bike Shipments, not Gross sales.
Now that that is clear, how did Q3 2024 Harley-Davidson Motor Firm Bike Shipments go? Not nice. In Q3 of 2024, it shipped 27,500 bikes, which suggests it is down 39 p.c as in comparison with the 45,300 it shipped in Q3 of 2023.
What about HDMC Worldwide Bike Gross sales? These are down 13 p.c in Q3 of 2024, as effectively. The Motor Firm breaks down its worldwide presence into 4 regional classes: North America, Europe/Center East/Africa (EMEA), Asia Pacific, and Latin America. North American gross sales are down 10 p.c, EMEA gross sales are down 23 p.c, and Asia Pacific gross sales are down 16 p.c. Solely Latin America gross sales are barely up; the quantity there’s a fairly anemic 4 p.c.
What about LiveWire EV motorbike gross sales? These are literally up 98 p.c 12 months on 12 months in Q3 of 2024, as in comparison with Q3 of 2023. However once you have a look at the precise numbers, that is rather less spectacular than it may appear after we’re telling the story with percentages. In Q3 of 2024, LiveWire offered simply 99 models worldwide. And bear in mind, this consists of StaCyc youngsters electrical bikes, and we do not know what number of of every kind of motorbike was offered, as a result of the report does not embrace that info.
Now, it is true that 99 models is healthier than the 50 models (that is five-zero, you learn that appropriately) that LiveWire reported as promoting in Q3 of 2023. Nevertheless it’s nonetheless not precisely setting the charts on fireplace.
This is How Harley And LiveWire Have Carried out In The Previous Two Years
It is one factor to have a imprecise sense of how issues are going from having written tales about these numbers for the previous few years, but it surely’s utterly one other to have the numbers all conveniently offered in a single place.
So, I pulled the related Bike Cargo, Bike Gross sales, and LiveWire knowledge to current to you right here with some good visuals.
For Harley-Davidson Bike Shipments, I began at Q1 of 2022 and mapped the progress over time, throughout to Q3 of 2024.
Likewise, for Harley-Davidson Bike Gross sales, I additionally charted the numbers starting with Q1 of 2022, by to Q3 of 2024. As you will shortly see, the one quarter when Gross sales have been above the identical interval within the 12 months prior was Q2 of 2023 (and even then, it was a minimal improve).
For LiveWire reporting, it was barely trickier to symbolize the info on a chart, simply due to the change in terminology that Harley utilized in its monetary studies mid-stream.
As it’s possible you’ll recall, Harley spun off LiveWire into its personal entity in 2022. So, This fall 2022 was the primary time that it reported LiveWire ends in their very own class. From This fall of 2022 by This fall of 2023, it reported LiveWire Electrical Bike Shipments solely, and never Gross sales.
Nevertheless, starting with Q1 of 2024, LiveWire Electrical Bike Gross sales have been the one determine given (not Shipments). Nonetheless, this knowledge visualization ought to assist.
Will this be how the pattern continues for the foreseeable future? Given the struggles that many within the powersport business are going through, that appears to be the more than likely proposition. LiveWire gross sales are step by step rising, however is it sufficient? And what in regards to the declining gross sales all through the remainder of the corporate?
That is unclear.
