Economy

Harley-Davidson announces exit from India

Harley-Davidson announces exit from India”

In the last financial year, the company managed to sell only 2,500 units, making India one of its worst performing markets.

In a separate SEC filing, the American firm said that between August 6, 2020, and September 23, 2020, the company approved commitments to additional restructuring actions under "The Rewire" related to optimising its global dealer network, exiting certain worldwide markets, and discontinuing its sales and manufacturing operations in India.

Harley-Davidson has officially confirmed it will exit the Indian motorcycle market after only 10 years in the latest sweeping change to be made at the ailing firm.

In a press statement, reported by Indian website carandbike.com, Harley-Davidson India said its manufacturing facility in Bawal will be closed down, and the sales office in Gurugram will be significantly downsized. "The company is communicating with its customers in India and will keep them updated on future support", the company said in a statement.

"When a brand leaves a country, it results in unavailability of spares and service, makes customers anxious and consumer cases follow", he said, referring to recent exits by General Motors, MAN Trucks and UM Motorcycles.

There are now 33 Harley-Davidson dealerships across the Indian sub-continent with the report saying each will have different contract terms although there was no clear indication of how existing Harley-Davidson customer would be supported in terms of service and spares.

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Is Harley-Davidson shutting down in India?

The import relaxation was restricted to the shipments of motorcycles up to 800 cc engine capacity or above subject to compliance to Euro III emission norms. Moreover, we have learnt that the company's dealerships across India will remain functional as of now until further announcement. Then the company set up its completely knocked down assembly plant in Haryana and started rolling out assembled bikes from the unit in the early part of 2011.

Harley-Davidson has announced today that it will shutdown its India operations and as a effect layoff employees.

As a result of the actions approved through September 23, 2020, the company expects to incur restructuring expenses of around 75 million in 2020, of which around 80 per cent are expected to be cash expenditures, including one-time termination benefits of close to USD 3 million, non-current asset adjustments of approximately USD 5 million, and contract termination and other costs close to USD 67 million.

The total costs associated with Harley-Davidson's restructuring plan, also known as "The Rewire" strategy, amount to $169 million this year.

He added that even as Harley-Davidson stuck with selling cruiser bikes, rivals such as BMW, KTM, Yamaha and others came out with bikes that were lighter and more technologically advanced, catering to multiple categories.

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