Jochen Zeitz , Chairman , President and CEO Harley-Davidson , is quoted as saying : " Aligned to our Hardwire strategic initiatives , Harley-Davidson delivered a strong third quarter with solid growth for both revenue and operating income . " We are reaffirming our outlook for the year , and as we approach our 120th anniversary that we will be celebrating in our hometown Milwaukee and around the world , we are excited about the potential of Harley-Davidson , the most desirable motorcycle company in the world ." Third quarter global retail motorcycle sales were down -2 % versus prior year . " Growth in Asia Pacific was driven by strong demand and a quick refill of dealer inventory coming out of the production suspension . North America retail performance ( down -5 %) continued to be adversely impacted by lower dealer inventories . Retail performance strengthened during the quarter as dealer

inventories replenished ." Global motorcycle wholesale shipments were up by + 19 % as the company saw recovery from the twoweek shut-down in June . HDMC revenue was up + 24 %, primarily driven by that + 19 % increase in

Q3 North American motorcycle retail 32,200 units

wholesale shipments , favorable unit mix and continued global pricing strength . Parts & Accessories was down -2 %, driven by lower retail motorcycle volumes and offset by growth in Apparel & Licensing behind seasonal product growth . HDMC operating income margin of 17.9 % was up + 9.5 points , while HDFS operating income declined

-24% as the credit environment normalizes . Diluted EPS of $ 1.78 was up + 70 %. Harley CFO Gina Goetter said that consolidated revenue was up + 21 % in the third quarter versus Q3 2021 , driven primarily by the + 24 % revenue uplift . This increase was driven by a " strong recovery in global motorcycle shipments after being adversely impacted by the unexpected production suspension in Q2 . Consolidated operating income growth of + 66 % reflected + 164 % growth at HDMC and a decline of - 24 % at HDFS - as a result of a higher provision for credit losses as the credit environment normalizes , and higher interest expense ." Third quarter gross margin was up + 7.4 points compared to Q3 prior year . Global pricing and mix contributed approximately 5 points of margin benefit and more than offset cost inflation . In addition , greater

Continues on page 6 >>>

AMA HALL OF FAME

V & H XG750R WINS PRODUCTION TWINS