Analyst’s survey: Harley demand up 5% in Q2

A mid-quarter survey by Baird analyst Craig Kennison to assess Harley-Davidson dealership trends shows that “U.S. demand is up 4-5%, following a 25% surge in Q1 driven by an early spring.”

Kennison’s research note, provided to Powersports Business on Monday, also says that in a survey of 40 Harley-Davidson dealerships, “dealer inventory is particularly lean” and “more bikes are selling ‘at/above’ MSRP than ‘below’ for the first time since 2008.”

The report goes on to say that “we believe efforts to revitalize used bike prices have stimulated demand for new bikes — a sustainable trend. Dealers reported a 8-10% increase in used bike retail.”

Kennison also reports that “U.S. dealer inventory is near the lowest point in a decade, ending Q1 near 54 bikes/dealer, down from 124 in 2006.”