EXPERIENCEBUSINESS - Harley-Davidson
EXPERIENCEBUSINESS - Harley-Davidson
EXPERIENCEBUSINESS - Harley-Davidson
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40<br />
HARLEY-DAVIDSON, INC. YEAR-END STOCK PRICES<br />
In Dollars<br />
0.33 0.41 0.80 1.23 1.21 2.80 4.71 5.52 7.00 7.19 11.75 13.63 23.69 32.03 39.75<br />
30<br />
20<br />
10<br />
0<br />
1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000<br />
SPLIT ADJUSTED<br />
HARLEY-DAVIDSON AND BUELL<br />
The worldwide heavyweight motorcycle market (651+cc and<br />
above) has grown for nine consecutive years. Worldwide registrations<br />
of <strong>Harley</strong>-<strong>Davidson</strong> and Buell motorcycles grew 13.8<br />
percent and exceeded the worldwide market growth rate for the<br />
third year in a row.<br />
In the U.S., 2000 retail registrations of <strong>Harley</strong>-<strong>Davidson</strong><br />
and Buell motorcycles increased 15.7 percent over 1999. In<br />
Europe, registrations of our motorcycles increased 9.4 percent,<br />
and in the Asia/Pacific region, where our major markets are<br />
Japan and Australia, retail registrations of <strong>Harley</strong>-<strong>Davidson</strong> and<br />
Buell motorcycles increased 4.3 percent over 1999.<br />
In 2000, <strong>Harley</strong>-<strong>Davidson</strong> motorcycle production was at<br />
a record high of 204,592 <strong>Harley</strong>-<strong>Davidson</strong> motorcycles, up 15.5<br />
percent over 1999. This production increase and the growing<br />
worldwide demand, allowed the Company to achieve a 28.2<br />
percent share of the worldwide heavyweight market.<br />
Looking ahead to 2001, we anticipate continued strength in<br />
the worldwide heavyweight motorcycle market. Our production<br />
target for <strong>Harley</strong>-<strong>Davidson</strong> motorcycles has been increased to<br />
227,000 motorcycles. To insure our leadership in this attractive<br />
market, we will continue to increase production and to introduce<br />
exciting new products combined with targeted marketing<br />
strategies that appeal to a diverse and growing motorcycle<br />
enthusiast population.<br />
HARLEY-DAVIDSON FINANCIAL SERVICES<br />
<strong>Harley</strong>-<strong>Davidson</strong> Financial Services (HDFS) continued an<br />
eight-year run of strong earnings growth. Operating income<br />
increased 34.3 percent, from $27.7 million in 1999 to $37.2<br />
million in 2000. HDFS further strengthened its offerings by<br />
selling its <strong>Harley</strong>-<strong>Davidson</strong> Chrome Visa ®<br />
business to U.S.<br />
Bancorp in a move that reduced risk to the Company and allows<br />
greater service offerings to cardholders. Since it was established<br />
eight years ago, HDFS has experienced strong growth by providing<br />
a comprehensive selection of financial services to our<br />
dealers and enthusiasts.<br />
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