American Motorcycle Dealer AMD 203 June 2016 | Page 5

ly part of the story – check out the
appening to their market share
‘ 36.42 percent of retail
HARLEY-DAVIDSON DIVIDENDS
sales international in 2015’
Year

2016

2015

2014

2013

2012

2011

This current rolling 12-month analysis of Harley’s share price includes the
negative responses to the August 2015 MY2016 announcements and the
January 2016 full year 2015 financial statements

of the US Dollar and wider economic
issues resulting in uncertain market
sentiment.
The difference between the two though
is that during this time Harley’s
motorcycle unit sales growth has
stalled, while Polaris have seen their
market presence stepped-up
dramatically by their well-received
Indian Motorcycle line-up.
A further dramatic difference is that
Polaris had a pre-recession share price
high of around $35.00 early in 2015,
and was trading at around $20.00 a
share at the time Harley-Davidson
made their all-time high of nearly
$75.00 in November 2006.

Despite the recent reversal of postrecession share price gains for both,
their relative positions of a decade ago
are now entirely reversed, and in
motorcycle market terms sentiment has
the wind filling Polaris’ sails whereas
Harley is becalmed – caught between
competitive pressures and their inability
to respond quickly enough to the
changed market opportunities.
With both manufacturers currently
slugging it out for “Dark” and
“Legend” bragging rights, another
difference between Polaris and HarleyDavidson, on a moving forward basis
(Harley’s MY 2017 announcement not
Continued on page 6 >>>

2010

2009