Harley kills Buell, will sell MV Agusta

As expected, Harley-Davidson announced dire third quarter financial results this morning – sales are down 21.3 percent year-on-year, but net income is down 84.1 percent – but the fallout from the company’s irresponsible business practices is shocking; Buell is being “discontinued” and MV Agusta, only acquired last year, will be sold.

“As our announcement regarding Buell and MV Agusta indicates, we are moving with the speed and decisiveness required to bring our business strategy to life,” said Keith Wandell, the company’s new CEO.  ”The fact is we must focus both our effort and our investment on the Harley-Davidson brand, as we believe this provides an optimal path to sustained, meaningful, long-term growth.”

Full details below. We’ll bring you more analysis later today.
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