"Harley-Davidson Inc. said Thursday it will discontinue its Buell motorcycle brand and divest its recently acquired MV Agusta lineup as part of the company's long-term business strategy.
The news that Harley was dropping two lineups came as the struggling manufacturer also said that its third-quarter income fell 84% to $26.5 million, or 11 cents a share, from $166.5 million, or 71 cents a share a year ago.
The company had $1.12 billion in sales in the quarter, down 21% from $1.42 billion in the third quarter of 2008. Worldwide motorcycle sales at Harley dealers fell 21% during the third quarter compared with the same period in 2008. The company said it shipped 27% fewer motorcycles in the quarter.
In a news release, Harley said it would discontinue its Buell brand, based in East Troy, and divest the Italian MV Agusta brand. The Buell decision will result in the loss of about 80 manufacturing jobs in East Troy and about 100 salaried positions.
"The fact is we must focus both our effort and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to sustained, meaningful long-term growth," CEO Keith Wandell said in the release."
The news that Harley was dropping two lineups came as the struggling manufacturer also said that its third-quarter income fell 84% to $26.5 million, or 11 cents a share, from $166.5 million, or 71 cents a share a year ago.
The company had $1.12 billion in sales in the quarter, down 21% from $1.42 billion in the third quarter of 2008. Worldwide motorcycle sales at Harley dealers fell 21% during the third quarter compared with the same period in 2008. The company said it shipped 27% fewer motorcycles in the quarter.
In a news release, Harley said it would discontinue its Buell brand, based in East Troy, and divest the Italian MV Agusta brand. The Buell decision will result in the loss of about 80 manufacturing jobs in East Troy and about 100 salaried positions.
"The fact is we must focus both our effort and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to sustained, meaningful long-term growth," CEO Keith Wandell said in the release."
Shame really, one of the few brands of sportbikes I could see myself riding..
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