Harley-Davidson Announces New Motorcycle Platform
The Street 750 and Street 500 Target Next Generation of Global Riders, Feature Liquid-Cooled Revolution X Engines and Dark Custom Styling
Video Link: Company Executives Discuss New Motorcycles' Positioning http://investor.harley-davidson.com/phoenix.zhtml?c=87981&p=irol-videoEvent
MILWAUKEE, Nov. 4, 2013 /PRNewswire/ -- Harley-Davidson (NYSE: HOG) is continuing its monumental ride, which began with the introduction of Project RUSHMORE in August, by revealing two, new Dark Custom™ motorcycles designed for young urban riders around the world.
The Harley-Davidson Street™ 750 and Street™ 500 motorcycles – the first all-new platform from Harley-Davidson in 13 years – are built for urban environments with all-new liquid-cooled Revolution X™ powertrains, nimble agility and the sound and look that lets everyone know they are genuine Harley-Davidson.
"These are the newest motorcycles to join our Dark Custom lineup, which helped make us the number-one selling brand to young adults in the U.S. for the past five years," said Matt Levatich, President and Chief Operating Officer, Harley-Davidson Motor Company. "Both the Street 750 and Street 500 were designed with thousands of hours of input from young adults in cities around the world. This input guided both the attitude and capabilities of these motorcycles. They are proof that being customer-led continues to be a core driver of our product development process."
Levatich and Harley-Davidson Chief Financial Officer John Olin discuss the new motorcycles' positioning within the Company's overall product portfolio, including margin and 2014 volume expectations, in a video posted to the Investor Relations section of the Company's website: http://investor.harley-davidson.com/phoenix.zhtml?c=87981&p=irol-videoEvent
Urban, Authentic Harley-Davidson
The Street 750 and Street 500 from Harley-Davidson are built for an urban environment. Each motorcycle features the new, Revolution X engine, designed to match the demands of stop-and-go traffic with nimble agility, while delivering instant throttle response to escape city gridlock.
The Revolution X engine will be housed in a new, narrow and lean chassis built for agility, with a super-low seat height, new suspension and broad handlebar sweep that provides confidence and maneuverability when managing tight turns and fast moves. Both signature Dark Custom motorcycles feature a premium, minimalist style that serves as a blank canvas for riders to customize.
"These new bikes are leaner, yet still have a mean streak – they're the real deal, made of real steel." said Mark-Hans Richer, Senior Vice President and Chief Marketing Officer, Harley-Davidson Motor Company. "They're designed to handle the abuses of urban environments and provide authentic opportunities to customize."
The Harley-Davidson Street™ 750 and Street™ 500 will be rolling into dealerships in select markets starting in 2014. More information is available at www.h-d.com/street.
Video of the Harley-Davidson Street platform reveal in Milan, including an in-depth walk-through of the motorcycles, details on their design, and a Q&A with Richer will be available at http://www.youtube.com/HarleyDavidson.
Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Harley-Davidson Motor Company produces custom, cruiser and touring motorcycles and offers a complete line of Harley-Davidson motorcycle parts, accessories, riding gear and apparel, and general merchandise. Harley-Davidson Financial Services provides wholesale and retail financing, insurance, extended service and other protection plans and credit card programs to Harley-Davidson dealers and riders in the U.S., Canada and other select international markets. For more information, visit Harley-Davidson's website at www.harley-davidson.com.
The Company intends that certain matters discussed in this release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company "believes," "anticipates," "expects," "plans," or "estimates" or words of similar meaning. Similarly, statements that describe future plans, objectives, outlooks, targets, guidance or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated as of the date of this release. Certain of such risks and uncertainties are described below. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements and cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this release are only made as of the date of this release, and the Company disclaims any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
The Company's ability to meet the targets and expectations noted depends upon, among other factors, the Company's ability to (i) execute its business strategy, (ii) adjust to fluctuations in foreign currency exchange rates, interest rates and commodity prices, (iii) manage through inconsistent economic conditions, including changing capital, credit and retail markets, (iv) implement and manage enterprise-wide information technology solutions, including solutions at its manufacturing facilities, and secure data contained in those systems, (v) anticipate the level of consumer confidence in the economy, (vi) continue to realize production efficiencies at its production facilities and manage operating costs including materials, labor and overhead, (vii) manage production capacity and production changes, (viii) manage changes and prepare for requirements in legislative and regulatory environments for its products, services and operations, (ix) provide products, services and experiences that are successful in the marketplace, (x) manage risks that arise through expanding international operations and sales, (xi) manage the credit quality, the loan servicing and collection activities, and the recovery rates of HDFS' loan portfolio, (xii) successfully implement with its labor unions the agreements that it has executed with them that it believes will provide flexibility and cost-effectiveness to accomplish restructuring goals and long-term competitiveness, (xiii) effectively execute the Company's restructuring plans within expected costs and timing, (xiv) manage supply chain issues, including any unexpected interruptions or price increases caused by raw material shortages or natural disasters,(xv) develop and implement sales and marketing plans that retain existing retail customers and attract new retail customers in an increasingly competitive marketplace, (xvi) adjust to healthcare inflation and reform, pension reform and tax changes, (xvii) retain and attract talented employees, (xviii) manage the risks that our independent dealers may have difficulty obtaining capital and managing through changing economic conditions and consumer demand, (xix) continue to have access to reliable sources of capital funding and adjust to fluctuations in the cost of capital, (xx) continue to develop the capabilities of its distributor and dealer network, and (xxi) detect any issues with our motorcycles or manufacturing processes to avoid delays in new model launches, recall campaigns, increased warranty costs or litigation.
In addition, the Company could experience delays or disruptions in its operations as a result of work stoppages, strikes, natural causes, terrorism or other factors. Other factors are described in risk factors that the Company has disclosed in documents previously filed with the Securities and Exchange Commission.
The Company's ability to sell its motorcycles and related products and services and to meet its financial expectations also depends on the ability of the Company's independent dealers to sell its motorcycles and related products and services to retail customers. The Company depends on the capability and financial capacity of its independent dealers and distributors to develop and implement effective retail sales plans to create demand for the motorcycles and related products and services they purchase from the Company. In addition, the Company's independent dealers and distributors may experience difficulties in operating their businesses and selling Harley-Davidson motorcycles and related products and services as a result of weather, economic conditions or other factors.
SOURCE Harley-Davidson, Inc.