News

Harley-Davidson to suspend most vehicle assembly due to parts issue

0

In this article

HOG

Harley-Davidson motorcycle engines are assembled at the company’s Powertrain Operations plant in Menomonee Falls, Wisconsin.
Getty Images

Harley-Davidson said on Thursday the bike maker will suspend all vehicle assembly and shipments for a two-week period, excluding those from its electric vehicle division LiveWire, due to a parts issue related to a supplier.

The company said it took the decision after a third-party supplier informed Harley about a regulatory compliance matter relating to the supplier’s component part.

Shares of Harley, which did not immediately respond when contacted by Reuters for more details on the suspension, fell 9% to $32.51 in premarket trading.

Milwaukee-based Harley reported a drop in first-quarter profit in April, as margins at the company were squeezed by higher costs and chip shortages.

Supply chain snarls dented motorcycle sales in North America as production challenges resulted in lower dealer inventories, the company had previously said.

Existing home sales fell in April to the lowest level since the start of the pandemic

Previous article

: ‘Perfect storm of supply and demand’: Rents continue to soar. The national median rent looks set to surpass $2,000 this summer.

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News