Subscribe to Dollars & Sense magazine. Recent articles related to the financial crisis. Harley In Hog HellLike the hawkers of their 4-wheeled brethren, Harley Davidson is facing tough times. The Wall Street Journal reports today that the company is being hit by a double whammy of slumping consumer sales and a major squeeze on their in-house financing unit, which provides credit for both customers and dealers.Although they're not in as bad shape as GM (currently in merger talks with Chrysler, although the lack of available credit is holding things up), company sales are down 9% for the first three quarters of 2008 versus a year earlier, and operating income from Harley's financing unit fell 28% in the latest quarter, according to the WSJ. While still profitable, Harley's net income in the third quarter fell 37% compared to a year earlier. Labels: auto industry, credit crisis, economic meltdown, GM, Harley Davidson, Wall Street Journal |
