Smaller bikes, electric engines and urban storefronts: Harley-Davidson, we hardly knew you.
The company has categorically mentioned that this new product will be brought to India with intent of further broadening the customer access to Harley-Davidson motorcycles and also fuel the company's growth in India.
In an investor communication, Harley-Davidson said, "We intend to enter into a strategic alliance in Asia to launch a 250-500cc motorcycle within 2 years in India, and into other emerging markets in Asia over time".
"In total, the company plans More Roads to Harley-Davidson to generate more than $1 billion of incremental annual revenue in 2022 as compared to 2017", said the company. The cult American bike maker has made a decision to manufacture "more accessible, small displacement" bikes in the 250-500cc range, which would be targeted at India and other Asian markets.
To execute this plan the United States bike maker wants to enter into a strategic alliance with a local manufacturer to develop and sell the new models, Mintreports.
Speaking to CNBC's Morgan Brennan in an interview on Monday, Levatich called the president's recent tweets against Harley-Davidson "unfortunate attention". The move comes as part of Harley's 2022-centric "More Roads to Harley-Davidson" plan, which aims at getting more people into the company's fold, especially from global markets.
Big news this morning from the Bar and Shield brand, as Harley-Davidson announces future models including a 1250cc adventure motorcycle.
Lastly, the company announced that it will be launching its first-ever electric motorcycle, the LiveWire, in 2019.
Traditional dealerships will still play an important role, and Harley-Davidson says it will implement a new performance framework to strengthen its dealer network.
The announcement by Harley comes after three consecutive years of declining sales in India.
It's dealing declining sales and an aging riding population amid criticism from President Donald Trump for the company's decision to move production of motorcycles sold in Europe overseas to avoid retaliatory tariffs the European Union is imposing on American exports.
Harley Davidson is not alone. There will always be riders who want those bikes, but they're likely to be a dwindling cadre in the US.
Harley has also been investing in developing electric motorcycles as well as promoting its learn-to-ride academies at showrooms. The company expects the 250-500cc motorcycle segment in India to grow at more than 25% annually through 2021, the daily added.
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