Powersports Makers Report Mixed Sales
Here's a look at sales reports for BMW, Yamaha and Harley-Davidson Financial Services.
Here's a look at sales reports for BMW, Yamaha and Harley-Davidson Financial Services.
BMW Motorycles Increase January Sales
BMW Motorcycles sold 3,731 units in January, an increase of 1.1 percent over the year-ago period.
The company said the increase was due to continued strong demand for the F 650 GS and F 800 GS two-cylinder motorcycles, which were introduced in 2008.
The company expects a sales boost from the launch of the revised K models —K1300R, K1300S and K1300GT — on the market this month.
Yamaha Sales Drop in 2008
Yamaha Motor Corp. reported that total North American sales for 2008 were off pace with 2007 figures by 23.3 percent.
The company, which sold 167,000 units in 2008, said the decrease was due to lower demand for motorcycles, outboard motors, all-terrain vehicles, and side-by-sides, as well as the negative impact of the stronger yen against the U.S. dollar.
HDFS Record 4Q 2008 Loss
Harley-Davidson Financial Services (HDFS) recorded an operating loss of $24.9 million for the fourth quarter 2008, $63.5 million lower than the operating income in the year-ago quarter.
The decrease is primarily due to a $35.1 million write-down of retained securitization interests and a $28.4 million write-down to fair value of finance receivables held for sale. The write-downs were due to higher projected credit losses and an increase in the discount rate used for the valuation of receivables.
The captive finance company also recorded an operating income of $82.7 million for 2008, down from $212.1 million in the previous year.
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