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Shares down for Harley Davidson

Posted on 18 July, 2017

Harley Davidson's shares have decreased to more than a one-year low after cuts were made to its shipments. The manufacturers shares were down by nine per cent at $47.17 on Tuesday morning and for the full year, the company expects to ship between 241,000 and 246,000 motorcycles in comparison to 262,221 in the previous year. Due to decreased popularity, the motorcycle maker is also planning on cutting production in the second half of this year. According to David Beckel, an analyst from Bernstein Research, the decrease in sales is related to a lack of interest in motorcycles is waning for the new group of consumers born between 1980 and 1990. "We are downgrading Harley-Davidson to 'market-perform' based on increased conviction that motorcycle demand in the United States is in the throes of secular erosion," Beckel said.