Latest news with #Harley-DavidsonInc
Straits Times
15-05-2025
- Business
- Straits Times
Trump says India offered to remove all tariffs on US goods
US President Donald Trump didn't provide further details of New Delhi's apparent offer. PHOTO: REUTERS Trump says India offered to remove all tariffs on US goods DOHA - US President Donald Trump said India has made an offer to drop tariffs on US goods, as the Asian nation negotiates a deal to avert higher import taxes. Speaking on May 15 at an event with business leaders in Qatar, Mr Trump said the Indian government has 'offered us a deal where basically they are willing to literally charge us no tariff.' Mr Trump didn't provide further details of New Delhi's apparent offer and the Indian government didn't immediately respond to a request for comment. India was one of the first countries to begin trade negotiations with the US following Prime Minister Narendra Modi's visit to the White House in February, with both sides agreeing to finalise the first phase of a bilateral deal by the fall. India's trade minister is expected to meet Mr Trump administration officials in the US from May 17 to May 20 for further negotiations. Mr Trump's comments came days after India threatened to impose retaliatory tariffs in response to higher US duties on steel and aluminium, a sign that New Delhi may be adopting a more assertive approach in its trade negotiations with the White House. The trade talks remain on track though, people familiar with the matter have said. Some analysts in New Delhi suggested that Mr Trump's remarks could indicate either that India is close to finalising a deal, or that the comments are a negotiating tactic by the White House. 'An India–US trade deal may be on the cards,' said Mr Ajay Srivastava, founder of New Delhi-based think tank Global Trade Research Institute. 'But the deal must ensure strict reciprocity, with both sides eliminating tariffs equally.' Market reaction was relatively muted after Mr Trump's comments with the rupee recouping some of its losses. The benchmark NSE Nifty 50 index was up 1.7 per cent as of 2pm local time. Zero tariffs Since returning to the White House, Mr Trump has been dialling up the pressure on the Indian government to address the trade imbalance between their two countries, running at about US$47 billion (S$61 billion) in 2024. Having long complained that India's tariffs were too high and hurt US businesses, Mr Trump has pledged to impose 'reciprocal' tariffs of 26 per cent on India. Those tariffs are currently on hold until early July. India has made several moves to satisfy Mr Trump's grievances in 2025, including overhauling its tariff regime to reduce import duties on prominent American goods like bourbon whiskey and high-end motorcycles made by Harley-Davidson Inc. As part of its trade negotiations, New Delhi has also proposed zero tariffs on some goods like auto components and pharmaceuticals on a reciprocal basis up to a certain quantity of imports, Bloomberg News reported earlier in May. While Mr Modi and Mr Trump share a strong personal rapport, there is growing frustration in New Delhi in recent days over the US president's insistence he used trade as a bargaining tool to secure a ceasefire between India and Pakistan after four days of military conflict. Indian officials have disputed that. The US president also said on May 15 he spoke with Apple Inc chief executive officer Tim Cook to discourage him from expanding production in India. 'I said I don't want you building in India,' Mr Trump said about a conversation he said he had with Mr Cook. He added that he told Mr Cook 'India can take care of themselves, they are doing very well.' As a result of their discussion, Mr Trump said Apple will be 'upping their production in the United States.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Bloomberg
14-05-2025
- Business
- Bloomberg
Harley Directors Win Reelection Following Activist Battle
By Updated on Save Harley-Davidson Inc. shareholders voted to reelect three board members, including Chief Executive Officer and Chairman Jochen Zeitz, rejecting a campaign by disgruntled investor H Partners to shake up the board. The Wednesday result will keep presiding director Thomas Linebarger and Sara Levinson, who has been on the board for almost three decades, in their roles, Harley said in a statement, confirming an earlier report by Bloomberg. Zeitz, who announced plans last month to resign, will remain CEO of the Milwaukee-based company until a replacement is found.
Bloomberg
16-04-2025
- Business
- Bloomberg
Harley-Davidson Investor Calls for Ouster of CEO, Board Overhaul
One of the largest shareholders in Harley-Davidson Inc. called for the immediate removal of Chief Executive Officer Jochen Zeitz and two other board members, escalating a feud that has spilled into the public eye in recent weeks. Investment firm H Partners called for the changes in an open letter Wednesday decrying the 'severe value destruction and the cultural depletion of this iconic American company' during the CEO's tenure. Aside from Zeitz, who holds the chairman title, H Partners encouraged shareholders to vote out Presiding Director Thomas Linebarger and Sara Levinson, who has been on the board for almost three decades.
Bloomberg
04-03-2025
- Automotive
- Bloomberg
Harley-Davidson Bagger Race Series Leads to $110,000 Motorcycle
Harley-Davidson Inc. 's participation in the 'King of the Baggers' motorcycle race series has proven so popular that the Milwaukee-based 'MoCo' will now sell a limited-edition, $110,000 race-replica motorcycle—the highest price Harley has ever charged for a bike. The 2025 CVO Road Glide RR is also the most powerful motorcycle Harley has sold for the street. Built on its touring platform, a souped-up 131 cubic-inch motor produces 153 horsepower and 150 lb-ft of torque. Only 131 units will be produced, said Harley's director of racing, Jason Kehl, at a press event in Austin, Texas.
Yahoo
06-02-2025
- Business
- Yahoo
Harley-Davidson Inc (HOG) Q4 2024 Earnings Call Highlights: Navigating Challenges with ...
Global Retail Sales Decline: 15% decline in Q4; 7% decline for the full year 2024. North America Retail Sales Decline: 13% decline in Q4; 4% decline for the full year 2024. International Retail Sales Decline: 17% decline in Q4; 13% decline for the full year 2024. Consolidated Revenue: $5.2 billion for full year 2024, down 11% from 2023. Consolidated Operating Income: $417 million for full year 2024, down 47% from 2023. HDMC Revenue: $4.1 billion for full year 2024, down 15% from 2023. HDFS Revenue Growth: 9% increase for full year 2024. LiveWire Revenue Decline: 31% decrease for full year 2024. Operating Cash Flow: Over $1 billion in 2024, nearly a 40% increase from prior year. Dealer Inventory Reduction: 19% sequential decline at end of Q4 2024. Operating Loss in Q4: $193 million consolidated operating loss. Earnings Per Share: $3.44 for full year 2024, down from $4.97 in 2023. Market Share in US Touring Segment: 74.5% in 2024, highest since 2019. Cost Productivity Savings: $257 million achieved to date, with $100 million additional savings expected in 2025. Share Repurchase: 12.5 million shares repurchased in 2024 at a total value of $450 million. Warning! GuruFocus has detected 5 Warning Sign with HOG. Release Date: February 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Harley-Davidson Inc (NYSE:HOG) achieved a nearly 5% growth in the US touring segment, increasing its market share to almost 75%. The company successfully launched new model year '24 Street Glide and Road Glide touring motorcycles, receiving positive feedback from customers, media, and dealers. Harley-Davidson Inc (NYSE:HOG) continued to trim inventory, ending the year slightly below '23 levels, setting up for further significant inventory reduction. The company achieved $257 million in productivity savings, contributing positively to cash flow and delivering over $1 billion in operating cash flow in '24. Harley-Davidson Inc (NYSE:HOG) plans to continue investing in product development and capability management, with a focus on core product innovation and manufacturing automation. Global retail sales declined by 15% in Q4, with North America down 13% and international regions down 17%. Consolidated revenue in Q4 was down 35%, driven by a 47% decrease in HDMC revenue. The company faced a significant operating loss of $214 million at HDMC in Q4, compared to a $44 million loss in the prior year. LiveWire, Harley-Davidson's electric motorcycle segment, reported an operating loss of $110 million for the year. High interest rates and macroeconomic uncertainties negatively impacted consumer confidence and sales, particularly in core markets. Q: Can you elaborate on the expected inventory reduction in the first quarter and its impact on revenue? A: Jonathan Root, CFO, explained that they anticipate a more than 30% reduction in inventory in the first half of the year, with a focus on managing dealer inventory levels. This will result in a decrease in wholesale shipments in the first half, with a more pronounced impact in the first quarter compared to the second half of the year. Q: What were the main factors affecting margins in Q4, and how do you view retail sales for 2025? A: Jonathan Root, CFO, noted that Q4 margins were impacted by lower volumes, unfavorable mix, and manufacturing costs. For 2025, they expect retail sales to be flat, with a stronger performance in the second half due to new product innovations and continued interest in the touring segment. Q: How do you expect operating margins to improve in 2025 despite flat to slightly down revenue guidance? A: Jonathan Root, CFO, indicated that they anticipate slight pricing improvements and better cost management, including lower operating expenses, which will help improve margins. They also expect less unfavorable impact from manufacturing costs compared to 2024. Q: What is the outlook for international markets in 2025? A: Jonathan Root, CFO, stated that they expect international markets to be relatively flat overall. While some regions like Asia Pacific may see slight growth, others, such as Europe, may face challenges due to macroeconomic conditions. Q: How is Harley-Davidson managing the LiveWire business given the current demand for electric motorcycles? A: Jochen Zeitz, CEO, mentioned that they are focused on reducing operating losses and cash burn for LiveWire. They are evaluating the business's performance and considering mid- to long-term strategies, including potential product portfolio adjustments, to improve profitability. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
