Harley-Davidson dealers are reporting improved new bike inventories even as their retail sales continue to slump, according to a Wells Fargo Securities survey.
The survey of 40 dealers from across the United States found retail sales of new units down approximately 20 percent according to the year-ago period.
However, dealer inventories do appear to be improving. Only 5 percent of dealers in the survey characterized their inventory levels as “heavy.” In comparison, 35 percent reported heavy inventories a year ago.
Dealers also said they’re seeing declining prices for used Harleys. In fact, 63 percent of Harley dealers indicated this trend, an increase over the 43 percent that reported this last quarter.
The Harley-Davidson Motor Co. is providing its latest earnings report on Friday.