Harley-Davidson will continue to reduce its bike production in 2010, with plans of reducing manufacturing by 5-10 percent.
The company outlined those plans today plus reported its full-year earnings results, which include a net loss of more than $55 million.
Much of those losses are due to the company’s restructuring activities and its production cutbacks, including a more than 50 percent decline in its recent quarter.
The company also noted it continues to see dealer closures, with 28 dealerships or Secondary Retail Locations having closed in 2009, or about 3.5 percent of the company’s retail operations. The company said a further 15 could close in the next three months.
Harley-Davidson said it plans to build 201,000-212,000 bikes next year. “We believe 2010 will be a challenging year,” Harley-Davidson CEO Keith Wandell said in a press release.
On the same day the company outlined its year-end results, it unveiled a new Sportster model. The bike, called the Forty-Eight, will be geared toward the brand’s younger buyers with a MSRP of $10,499.