With deeper consumer insights driving its refined plan and sharpened objectives, Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) is strengthening its efforts to build the next generation of riders.
The company plans to focus investment and build new capabilities to invigorate the Harley-Davidson brand and experience to spark passion that deepens rider commitment. Brand and consumer-facing teams are being structured and aligned with an even deeper consumer focus to reach people with consistent and engaging brand experiences. To reflect this, Amplify Brand has been added as a growth catalyst in the “More Roads to Harley-Davidson” plan and will bolster the existing growth catalysts of New Products, Broader Access and Stronger Dealers.
“We see a meaningful opportunity to leverage the power of the brand to demonstrate how riding a Harley-Davidson fills the mind, body and soul in ways that help riders live for real,” said Matt Levatich, president and chief executive officer of Harley-Davidson. “We’ll continue to fuel all aspects of the riding experience and add new solutions to fully develop, engage and retain riders through their journey, starting with the very first spark of interest.”
The company’s intensified rider-centric approach and extensive consumer research show that bringing new riders in and keeping all riders riding – no matter what their experience level, age or life stage, is critical to achieving its objectives.
As a result, Harley-Davidson has sharpened its objectives through 2027 to better align with its expanded efforts to build committed riders. In the U.S., the company plans to expand to 4 million total Harley-Davidson riders in the U.S. through 2027. There were about 3 million total Harley-Davidson riders in the U.S. in 2017. This objective reflects the company’s broader efforts to attract new riders and also retain riders each year. Measuring total riders considers and accounts for all riders - those who join Harley-Davidson each year and also those who exit. As previously stated, the company’s U.S. objective to build 2 million new riders in the U.S., was focused only on riders who joined the brand in a given year.
Outside the U.S., the company has sharpened its objective through 2027 and plans to grow international business to 50% of annual revenue. Previously the growth target was motorcycle unit volume, which was not inclusive of all of the company’s efforts to grow internationally, including IRONe™ electric-powered two-wheelers for kids, eBicycles and a refreshed apparel approach.
“We’re on a quest to build the next generation of Harley-Davidson riders. We are activating our refined plan with focus and an intensity to create new pathways to Harley-Davidson and expand access and appeal to more people around the world,” said Levatich.
For more information on the “More Roads to Harley-Davidson” plan and updated milestones, follow this link.
Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Since 1903, Harley-Davidson has fulfilled dreams of personal freedom by leading the innovation of two-wheeled mobility. The company offers an expanding range of leading-edge, distinctive and customizable motorcycles and brings the brand to life through Harley-Davidson riding experiences and exceptional motorcycle parts, accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get Harley-Davidson riders on the road.
The company intends that certain matters discussed in this release and in the presentation linked to above are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the company "believes," "anticipates," "expects," "plans," “strategy,” “future,” “may,” “goals,” “will,” "estimates," or words of similar meaning. Similarly, statements that describe future plans, strategies, objectives, outlooks, targets, guidance, commitments, milestones or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially, unfavorably or favorably, from those anticipated as of the date of this release. Certain of such risks and uncertainties are described below. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements and cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this release and the presentations at the page linked to above are only made as of the date of this release, and the company disclaims any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
The company's ability to meet the targets and expectations noted above depends upon, among other factors, the company's ability to (i) execute its business plans and strategies, including the elements of the updated More Roads to Harley-Davidson plan for growth that the company disclosed on September 24, 2019, and strengthen its existing business while enabling growth, (ii) execute its strategy of growing ridership, globally, and (iii) accurately analyze, predict and react to changing market conditions and successfully adjust to shifting global consumer needs and interests.
Before making an investment decision based on this release, potential investors should review the presentation linked to above, including its forward-looking statement disclaimer, and the company’s most recent earnings release.