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Harley-Davidson’s Revenue, Income Drop

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Harley-Davidson Inc.’s net income for January-March fell 26% to $186 million as retail sales of its iconic motorcycles slipped 4% to 55,000 bikes.

First-quarter revenue fell 14% to $1.5 billion, dragged down by a 6% drop to 33,300 units in the U.S. The company says the decline reflects a decision to delay shipments of 2017 models so dealers could sell down inventories of last year’s inventory.

The company, which controls 51% of the U.S. market for bikes with engines that displace more than 601 cc, aims to achieve annual U.S. production of 2 million bikes by 2027 and build its international business to 50% of sales from about 39% currently.

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