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Author`s name Alex Naumov

Demand on Harley-Davidson cruiser models hugely increases overseas

Harley-Davidson, the biggest United States motorcycle maker, said yesterday that second-quarter profit rose 19 percent on increased demand overseas for the company’s cruiser models. The shares fell as domestic sales slid.

Net income climbed to $290.5 million, or $1.14 a share, topping analysts’ estimates by 1 cent. Revenue gained 18 percent to $1.62 billion, the Milwaukee-based company said, while United States retail sales of Harley-Davidson motorcycles dropped 5.5 percent.

A sluggish economy, rising interest rates and declining property values in much of the United States cooled demand for the Harley cruisers, which can sell for as much as $35,000 when customized.

James L. Ziemer, Harley’s chief executive, said in a conference call that he was disappointed with the results. “We’re looking for improved retail sales in the second half,” he said.

Shares of Harley-Davidson fell $1.78, or 2.9 percent, to $59.37, Bloomberg reports.

The company anticipates shipping between 91,000 and 95,000 Harley-Davidson motorcycles during the third quarter.

The company said Harley-Davidson motorcycle sales increased 22 percent to $1.25 billion. Sales from parts and accessories climbed 4.6 percent.

International retail sales saw double-digit growth, with 13.7 percent growth in total European sales. Sales in Japan, Canada and other international markets grew at a combined rate of 13.4 percent.

On the retail side of the business, Harley-Davidson said dealers' sales were down 1.2 percent worldwide during the quarter, with U.S. dealers' sales down 5.5 percent, the AP reports.

Source: agencies

Prepared by Alexander Timoshik
Pravda.ru

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Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases

Several years ago, a prominent Indonesian businessman who now resides in Canada, insisted on meeting me in a back room of one of Jakarta's posh restaurants. An avid reader of mine, he 'had something urgent to tell me', after finding out that our paths were going to be crossing in this destroyed and hopelessly polluted Indonesian capital.

Capitalism reduced Indonesian cities to infested carcases
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