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Harley-Davidson too feels subprime heat

October 20, 2008

Softening demand for discretionary items such as motorcycles has exacerbated the woes at Harley's credit arm.

Harley's US retail sales were down 8.7% in the second quarter, and the company axed 730 workers earlier this year, its deepest workforce cut since the 1980s.

Robust international growth rates are expected to weaken as the economic crisis spreads abroad.

Image: A man poses with his 1953 Duo-Glide in front of a replica of the original Harley-Davidson workshop located on the grounds of the Harley-Davidson headquarters in Milwaukee, Wisconsin | Photograph: Scott Olson/Getty Images

Also read: Stocks: Fishing for the bottom

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