As had been widely anticipated , Harley unit shipments in Q2 were impacted , to the tune of -15 %, by the widely reported approximately two-week production suspension caused by a regulatory compliance matter at a thirdparty supplier . Despite that , HDMC Revenue only down by -5 % " with global pricing and growth with Apparel offsetting much of the negative impact from the temporary production suspension ." In fact , HDMC Operating Income margin was actually up by 1.2 points versus the same period of 2021 at 15.1 %, which speaks to good management of resources , good price control , lower operating expense and lower EU tariffs offsetting the impact of the suspension . Jochen Zeitz , Chairman , CEO and President Harley-Davidson , is quoted as saying : " Reaffirming our guidance for the year , despite the production suspension , demonstrates the effectiveness of our Hardwire strategy and the power of our brand . " Now , with the suspension being

behind us , we are fully focused on mitigating the impacts of the volume loss with the ambition to deliver on our Hardwire II goals , in year two of our fiveyear strategy ." As forecast by AMD , the original schedule for the SPAC floatation of LiveWire as an autonomous publicly quoted business ( albeit still around

74 % owned by H-D ) continues to slip . The merger transaction between LiveWire and AEA-Bridges Impact Corporation is " now expected to list at the NYSE in late September " instead of mid-Spring . In detail , Harley ' s Q2 results show Q2 HDMC consolidated revenue down

-4%, driven primarily by HDMC revenue down -5% as a result of the production suspension in the second half of May . Consolidated operating income decline of 1 % reflects 3 % growth at HDMC and a decline of 9 % at HDFS - due to an expected higher provision for credit losses as the credit environment normalizes . Global motorcycle shipments were -15% at 48,200 units in Q2 , with revenue arising down by only -5% thanks to global pricing across Motorcycles , Parts & Accessories , and Apparel (+ 39 %) partially offsetting the decline in wholesale shipments . Second quarter gross margin was flat compared to Q2 prior year . Global pricing and mix contributed approximately 6 points of margin benefit and more than offset cost inflation . Second quarter operating margin improved to 15.1 % from 14.0 % in Q2 prior year . Global retail motorcycle sales in the second quarter were down -23% versus prior year at 50,500 units

Continues on page 8 >>>