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...American companies, but particularly so for Harley-Davidson, purveyor of bikes that easily top $30,000. Last month, the company reported that its fourth-quarter global sales fell 13.1%. Last year, its profits sank nearly 30%. And it's been a wipeout for investors: Harley-Davidson's stock price has plunged nearly 70%, to $11.96 a share in mid-February, from $37.34 a share one year ago. Americans haven't lost reverence for Harley-Davidson, but a key problem is that people are simply less willing to spend money on luxury items. Overall motorbike sales fell 7.2% last year, according...
...sport. Its renaissance came in the late 1980s, driven largely by baby boomers' new affluence. From 1992 to 2007, new-bike sales soared from 278,000 to 1.1 million annually. Harley-Davidson rode much of that wave, chiefly with touring bikes like the brawny Ultra Classic Electra Glide (starting price: $35,499, with a 110-cu.-in. Screamin' Eagle engine and a six-speed transmission). Its patrons grew older and wealthier, but its efforts to cultivate a large base of female and younger riders have been marginally successful. (See the top 10 female sports heroes...
Acknowledging the challenge of selling premium motorcycles in this economic environment, Harley-Davidson recently introduced a print ad aiming to play on the Sportster Iron 883's relatively low price. The message: "About six bucks a day. Cheaper than your smokes, a six-pack, a lap dance, a bar tab, another tattoo, a parking ticket ..." The Sportster line is expected to account for a larger share of Harley-Davidson's sales this year - though still less than 25% of the total. (The company notes that there is still a waiting list for the new $29,000 Tri-Glide Ultra Classic...
...necessarily lower the bike's costs. The developers stood firm on using premium materials, like metal fenders and side covers, rather than the plastic found on comparable bikes. "A lot of our competitors think there's only one way to get through this economy - to go down the price ladder," observes Richer. "But we refuse to play by that book. We have no interest in hurting the long-term value of our brand or our bikes." (See pictures of Evel Knievel, motorcycle stuntman...
...people hoping for an opening on the restaurant’s waitlist. As for Valentine’s Day, “There wasn’t an empty table from 11 in the morning until midnight,” said Mary-Catherine Deibel. Upstairs offered two fixed-price menus, either $85 or $125, depending on where they dined in the restaurant. And the servers felt the love too. “Tipping’s very good on Valentine’s Day,” Deibel said. “Everyone’s trying to impress their...