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Harley-Davidson Firm Stops Making Bikes

Harley-Davidson shuts down motorcycle manufacturing and shipping for two weeks due to supply problems

Harley-Davidson has said it will stop assembling and shipping its motorcycles for a period of two weeks, other than electric models, due to parts supply problems from its supplier.

The iconic motorcycle industry has revealed that a third-party supplier in the supply chain has had trouble complying with regulatory provisions for a part, Harley-Davidson has not disclosed any further details or identified the supplier, and until now, production has been shut down at two of the company’s factories. in Wisconsin and Pennsylvania.

In its latest published report, the company revealed that a shortage of semiconductors has affected production lines and Harley-Davidson is seeking alternatives, and also indicated that suppliers may be negatively affected by the change in legal or regulatory requirements.

The company began outsourcing its motorcycle production and exporting to the European Union in 2018 in response to the union’s retaliatory duties and tariffs on iron and aluminum products from the United States. Harley-Davidson stock plunged 9.3% to $32.44 during afternoon trading.

The Milwaukee-based company reported a slump in first-quarter profit in April after margins narrowed due to mounting expenses and a lack of chips. It is worth noting that the company’s stock was among the stocks that previously attracted the attention of analysts. Read more [The 5 Most Powerful Stocks Are Poised To Rise On Wall Street].

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