MILWAUKEE, June 12,
2023 /PRNewswire/ -- Harley-Davidson, Inc.
("Harley-Davidson" or the "Company") (NYSE:HOG) was recently
notified of a potential quality issue relating to brake hose
assemblies provided by a tier-2 supplier, Proterial Cable America
("PCA"), a portfolio company of Bain Capital, to the Company's
tier-1 brake system suppliers. The recently launched 2023 CVO Road
Glide and Street Glide motorcycles do not utilize these brake hose
Following this notification, Harley-Davidson will be running
limited motorcycle manufacturing operations at its York facility.
This is a new supplier quality issue, separate from the matter that
caused the production suspension in May
Based on the latest information provided by PCA, the Company now
anticipates resuming full motorcycle manufacturing operations at
its York facility on June 26, 2023.
The Company does not expect its international production to be
Jochen Zeitz, Chairman,
President and CEO, Harley-Davidson: "While retail sales have
improved in the quarter, as we had expected, we have a strong
inventory position in the network to help us navigate through this
situation - our teams are working very hard to minimize the impact
on the business."
About Harley-Davidson, Inc.
Harley-Davidson, Inc. is the parent company of Harley-Davidson
Motor Company and Harley-Davidson Financial Services. Our vision:
Building our legend and leading our industry through innovation,
evolution and emotion. Our mission: More than building machines, we
stand for the timeless pursuit of adventure. Freedom for the soul.
Our ambition is to maintain our place as the most desirable
motorcycle brand in the world. Since 1903, Harley-Davidson has
defined motorcycle culture by delivering a motorcycle lifestyle
with distinctive and customizable motorcycles, experiences,
motorcycle accessories, riding gear and apparel. Harley-Davidson
Financial Services provides financing, insurance and other programs
to help get riders on the road. Harley-Davidson also has a
controlling interest in Livewire, the first publicly traded
all-electric motorcycle company in the
United States. LiveWire is the future in the making for the
pursuit of urban adventure and beyond. Drawing on its DNA as an
agile disruptor from the lineage of Harley-Davidson and
capitalizing on a decade of learnings in the EV sector, LiveWire's
ambition is to be the most desirable electric motorcycle brand in
the world. Learn more
at harley-davidson.com and livewire.com.
Cautionary Note Regarding Forward-Looking
The Company intends that certain matters
discussed in this press 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," "may,"
"will," "targets," "intends," "is on track," "sees," "feels," 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,
unfavorably or favorably, from those anticipated as of the date of
this press release. Such risks and uncertainties include the
following, among other factors: (i) uncertainties regarding the
potential quality issue relating to brake hose assemblies provided
by Proterial Cable America ("PCA brake hose assemblies"), including
the nature and extent of the potential issue and the ability of the
supplier to remedy the potential issue; and (ii) whether the
Company will be successful in managing the effects that the
production suspension caused by the potential quality issue
relating to the PCA brake hose assemblies may have on its business,
including on retail sales of new motorcycles. Shareholders,
potential investors, and other readers are urged to consider these
factors in evaluating the forward-looking statements and are
cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements included in this press
release are only made as of the date of this press release, and the
Company disclaims any obligation to publicly update such
forward-looking statements to reflect subsequent events or
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SOURCE Harley-Davidson, Inc.