on Tuesday trimmed the forecast for shipments of its motorcycles in 2019 after worldwide sales in the second quarter slumped, hurt by higher tariff costs as well as weak demand in the United States.
Operating margin as a percent of motorcycle revenue is projected to be about 6% to 7% this year, lower than the 8.0% to 9.0% estimated earlier. Compounding the company's troubles is U.S. President Donald Trump's trade war. In retaliation for the tariffs the White House placed on imported steel and aluminum, the European Union increased import duties on U.S.-manufactured Harley bikes to 31% from 6% last June.
The incremental tariffs cost the company $34.4 million in the June quarter, contributing to a 12.5% plunge in retail sales in Europe.
crap bikes that's why
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »