Harley-Davidson cuts revenue forecast on inflation, DEI backlash

Published On Oct 25, 2024, 12:17 PM

Harley-Davidson has revised its revenue forecast down due to several challenges including persistent inflation, high interest rates, and declining demand linked to a consumer backlash against the company's diversity, equity, and inclusion (DEI) initiatives. The motorcycle manufacturer reported a 10% decrease in sales within North America and expects a 16-17% drop in global shipments for the year. Consequently, their overall retail sales forecast has also been adjusted downward, indicating a tougher market environment for the company.

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Harley-Davidson's revenue outlook reflects both a reaction to economic pressures and internal controversies. The combination of a fading consumer interest and the negative impact of political and market dynamics suggests a challenging path ahead for the company. Investors should be cautious, as ongoing public relations issues and financial performance challenges may lead to further declines.

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