AMD 269 December 2021 Aftermarket Moto Design 269 Dec 2021 | Page 6

EUROPEAN MOTORCYCLE REGISTRATIONS

Registrations of motorcycles in the largest European markets continued increasing in the first nine months of 2021 , exceeding pre-pandemic levels . Five of the largest European markets ( France , Germany , Italy , Spain and UK ) saw registrations rise by 10.6 % compared to the same period of 2020 , totaling 792,819 units . Due to the impacts of the COVID-19 disruptions in Spring 2020 , almost all the main national markets in Europe

Income statements in THREE MONTHS ENDED NINE MONTHS ENDED $ 1,000s ( except share ) 2021 Q3 2020 Q3 2021 Q3 2020 Q3

Sources : AMD , IDN , FT , Reuters , PSB , MPN , BDN , MCN , AP , Bloomberg , MSNW , Electrek , electricmotorcycles . news , RideApart . com , Motor1 . com , Cycle World , motorbikewriter . com registered volume gains in 2021 compared to the same period in 2020 , with Italy showing the biggest increase (+ 27.9 %). UK , Spain and France also performed well ( 13.5 %, 8.7 % and 8.5 % increases respectively ); new registrations in Germany were down slightly for the nine-month period ( -4.9 %). For a better comparison , against prepandemic registration data , the first nine months of 2021 saw the European motorcycle market showing signs of growth ; the 792,819 units for January-September 2021 compares to 732,594 units for January-September period in 2019 , representing an 8.2 % increase . Antonio Perlot , ACEM Secretary General , said : " In aggregate , the registration figures for the first nine months of 2021 confirm market recovery after the impact of COVID- 19 compared to the first nine months of last year .

Motorcycle Registrations in Europe

First Nine Months of 2021

Italy + 27.9 % ( 235,132 ) UK + 13.5 % ( 87,184 ) Spain + 8.7 % ( 127,872 ) France + 8.5 % ( 168,008 ) Germany -4.9% ( 174,623 ) Total + 10.6 % ( 792,819 )

" More importantly , the latest data confirms that powered two-wheeler ( PTW ) markets in Europe have globally surpassed pre-COVID-19 figures , with significant increases for motorcycles and for mopeds . " These interim 2021 results could have been even more positive if it weren ' t for the global semiconductor shortage affecting the automotive sector , and indirectly causing logistical delays for some motorcycle manufacturers ' production ."

MOTORCYCLE SHIPMENT DATA NOTE : H-D MOTORCYLE SHIPMENT DATA IS NOT THE SAME AS RETAIL REGISTRATIONS

<<< Continued from cover markets , as well as macro supply chain challenges , including slower shipping times to the international markets . The Financial Services segment saw operating income growth of $ 15m over Q3 2020 , driven by lower interest expense . Harley-Davidson generated $ 926m of cash from operating activities year-todate in 2021 . Cash and cash equivalents were $ 2.1bn at the end of the third quarter , down $ 1.5bn to the

The process of tariff dispute resolution between the United States and the European Union that was set in play back in June has now concluded with a comprehensive agreement to terminate the imposition of tariffs on a range of products , including exports to USA and Harley-Davidson motorcycle exports to the European Union . In a statement issued on October 30th , based on outcomes at the latest G20 summit held in Rome , Italy , Harley has stated that it extends its thanks " to the U . S . end of Q3 2020 as the company has brought down cash balances . The company paid cash dividends of $ 0.15 per share in Q3 2021 . For the full-year 2021 , the company says that its Motorcycles segment guidance remains unchanged relative to prior guidance . The company continues to expect Motorcycles segment revenue growth to be 30 to 35 %. Cash allocation priorities remain to first fund growth through The Hardwire initiatives , then to pay

Administration for reaching a solution to the 232-tariff dispute ." Jochen Zeitz , Chairman , President and CEO of Harley- Davidson is quoted as saying that the news was a " big win for Harley-Davidson and our customers , employees and dealers in Europe . Our thanks go out to President Biden , Secretary Raimundo and the U . S . Administration for their efforts in this negotiation . " We are excited that this brings dividends , and the company may also choose to execute discretionary share repurchases .

an end to a conflict that was not of our making , and in which Harley-Davidson had no place . This is an important course correction in U . S ./ EU trade relations that will allow us to further Harley-Davidson ' s position as the most desirable motorcycle brand in the world ." The company went on to state that it " remains committed to free and fair trade and is focused on remaining globally competitive in the interests of all its stakeholders , ensuring its customers around the world have access to its products ."

6 AFTERMARKET MOTO DESIGN - DECEMBER 2021 www . AMDchampionship . com