- Title: Harley struggles to fire up new generation of riders with electric bike debut
- Date: 7th October 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (FILE - JUNE 23, 2014) (REUTERS) VARIOUS OF HARLEY-DAVIDSON ELECTRIC BIKE PROTOTYPE THAT THE COMPANY TESTED IN 30 U.S. CITIES BEFORE REVEALING IT FIVE YEARS LATER
- Embargoed: 21st October 2019 16:39
- Keywords: Harley-Davidson electric motorcycles environmentally conscious riders LiveWire $29 799 price tag
- Location: NEW YORK, NEW YORK, UNITED STATES, UNKNOWN LOCATIONS
- City: NEW YORK, NEW YORK, UNITED STATES, UNKNOWN LOCATIONS
- Country: USA
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA002B03MVM5
- Aspect Ratio: 16:9
- Story Text:Harley-Davidson is betting on electric motorcycles to attract the next generation of younger and more environmentally conscious riders to reverse declining U.S. sales.
Reuters spoke to 40 of the 150 dealerships nationwide, and their representatives say, customers tell them, at $29,799 price tag, the bikes are too expensive.
The dealers also said, Harley is aiming for a market that does not really exist: young, "green" and affluent first-time motorcyclists.
Harley tested LiveWire bikes in 2014 in 30 U.S. cities and around Europe the following year, hoping to get feedback from potential buyers before putting the bike on the market.
It has been available for preorder in the United States since January. However, Reuters found out, the bulk of the orders have come in from existing and old riders.
Harley has for years failed to increase sales in the United States, its top market accounting for more than half of its motorcycles sold.
In 2018, Harley posted the steepest sales decline in four years in the United States. U.S. sales are tipped to fall again this year.
The heavyweight motorcycle maker's stock price has declined by 42% in the past five years. By comparison, the S&P 500 Index has gained 47%.
(Production: Aleksandra Michalska)
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