U.S. motorcycle maker Harley-Davidson on Wednesday reported a better-than-expected quarterly profit, as it benefited from its focus on selling high-margin touring and cruiser bikes under a new turnaround plan.
Harley, which has struggled to increase sales beyond its core baby-boomer market, in February unveiled a plan to boost profits by shifting its focus back to big bikes, while eliminating slow-selling models and exiting money-losing dealerships and markets.
Although the company’s performance in the latest quarter was exaggerated by a favorable statistical base as most of its dealerships in the United States were hit by pandemic-linked lockdowns last year, it offered signs that Chief Executive Officer Jochen Zeitz’s strategy was gaining traction.
