Harley Davidson: It is an American motorcycle company that is now taking an exit from the Indian Automotive market. The company has taken this decision because nowadays its sales are falling rapidly and there no chance of increasing their sales. The company also stated that there is now profit in respect of their investment they are getting losses more than profit. During this fiscal year, March 2020 Harley Davidson has sold about 210000 bikes across the world.
What does the Chairman of the company say?
The Chairman of Harley Davidson said that they are exiting the market because in these 3 months there is a drastic drop recorded in the sales of motorcycles. This decision has been taken by Harley Davidson is giving attention to its main 50 markets in India and there is no sign of profit.
Also, In April-June Harley Davidson s’ domestic sales were dropped by 87%. There were only 107 units were sold But the had planned to sell about 229 units.
New project by Harley Davidson
They have also started a project named Dubbed rewire. According to this project, this company has opened about 500 new showrooms across the world. This project is about worth $ 1.6 billion. The company also stated that it will the local and regional centers in the world.
According to “Dubbed Rewire”, the company has decided on the number of its models by 30%. The company also plans to invest in the Automotives and its platforms which is in the demand. In the ending of the financial year March 2020, the company stated that they have sold 2500 units across India out of that 2100 motorcycles were exported.
According to the Indian government, they are lowering the duty charges about 50% on the import of motorcycles which are above 1600cc engine.