Harley earnings drop 91% for 2nd quarter 2009

Photo: Harley-Davidson Archives

Harley-Davidson’s earnings for the second quarter of 2009 are down 91% compared to the same period last year. Most of this is down to the obvious: with the market already saturated with identikit products and their ability to buy expensive, unnecessary lifestyle accessories with home equity loans vanished, baby boomers are no longer buying Harleys. But, The Motor Company’s terminally ill finance wing is also proving a continuing drag on resources, requiring two “one-time” injections of capital totaling $101.1 million. Despite this, Harley says things aren’t rotten in the state of Wisconsin and has no plans to change its business practices. Well, aside from firing a bunch of hard-working Americans and continuing to pursue the shuttering of its York, PA plant that is.
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