Harley-Davidson CEO Discusses Q3 2010 Results - Earnings Call Transcript
Again, special recognition goes out to our York employees. In addition to our management team, both the local and international union officials have shown tremendous leadership. I was in York a couple of weeks ago, where I walked the factory floor and it was a great opportunity to talk with our employees, and I have to tell you just how impressed I was with the new operating model that is coming to life there, thanks to the best thinking of all of our employees. But more than that, I was especially impressed by the attitude of the York work force in the face of all the changes. They truly get why this work is so important and what a difference it makes, now that they are implementing it and living it.
At Harley-Davidson Financial Services, we have seen great improvement through our strategic focus on the performance of our Financial Services business and have delivered strong profitability in the past three quarters.
We have completed the divestiture of MV Agusta and exited the Buell business in order to focus our resources and energies on growth through the Harley-Davidson brand. We are seeing Harley-Davidson strengthen its lead in the U.S. in new motorcycle sales to young adults, not just in the heavyweight category, but across all sizes of on-road motorcycles.
In 2008, we became the overall market leader to young adults, defined as customers 18 to 34 years old, and in 2009, we expanded that lead. In fact, we sell more new Harley-Davidson motorcycles to today's generation of young adults than we did to the boomers when they were young adults. Our brand has great appeal to these consumers and we have a great opportunity with this customer base.Read the rest of this transcript for free on seekingalpha.com
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