Hitting the brakes
Harley-Davidson shares skidded to their lowest price in more than a year on Thursday after the motorcycle maker announced a two-week suspension of vehicle assembly and most shipments, citing a regulatory compliance issue with one of its suppliers.
The decision was made “out of an abundance of caution” after the company received information from a supplier of one of its component parts, Harley-Davidson said. The company did not name the supplier or provide details on the part in question and said the suspension would not affect its LiveWire electric motorcycle.
The Milwaukee-based company was already struggling with supply issues, reporting in April that its profit was trimmed by rising costs and chip shortages, which hurt sales in North America.
Harley-Davidson shares have lost nearly one-third of their value in the past year.
BUSINESS
en-us
2022-05-20T07:00:00.0000000Z
2022-05-20T07:00:00.0000000Z
https://edition.timesfreepress.com/article/282127820086470
WEHCO Media