Harley-Davidson officially reported its 2024 Q1 financial results to investors and all other interested parties on April 25, 2024. Overall, motorcycle sales stayed flat worldwide, though the official release also points out a glimmer of hope in the six percent growth in North American market sales for Q1 2024 over the same period in 2023. Revenue is down three percent for the same period.
For reporting purposes, Harley breaks its reporting segments up like so. The parent company is Harley-Davidson Incorporated, and Consolidated Financial Results gathers all the reporting for its various segments under one larger umbrella.
Within the consolidated report, you'll find Harley-Davidson Motor Company (HDMC), which handles its traditional combustion motorcycles, parts and accessories, apparel, and licensing. For reporting purposes, Harley-Davidson Financial Services (HDFS) and LiveWire are both their own segments.
And although LiveWire was spun off into its own company in 2022, its financial results are still reported as part of Harley's consolidated report at the usual and expected reporting intervals.
Here Are The 2024 Q1 Harley-Davidson Motorcycle Sales Numbers
Overall, worldwide Harley-Davidson motorcycle sales stayed completely flat for Q1 2024 as compared to Q1 of 2023. In both periods, Harley recorded 39,400 total motorcycles sold around the world (not including LiveWire).
In North America, sales were up six percent over Q1 2023, going from 26,000 one year ago to 27,500 in Q1 2024.
In Europe, the Middle East, and Africa (collectively referred to as EMEA), sales dropped 11 percent, going from 5,900 to 5,300 in 2024 Q1. In Asia Pacific, sales dropped by 12 percent, and went from 6,900 bikes in 2023 Q1 to 6,000 in 2024 Q1.
Finally, in Latin America, bike sales stayed flat year on year at 600 bikes sold. We should note that Harley's table lists a two percent positive change in sales here that isn't reflected in the numbers recorded here and could be a typo.
What About LiveWire?
For Q1 2024, Harley reported that it sold 117 LiveWire motorcycles in Q1 of 2024. That's an increase of 86 percent over its 2023 Q1 sales of just 63 bikes.
We should also note here that in past financial results reporting, Harley-Davidson has referred to LiveWire's results as "electric motorcycle shipments," and never sales. By contrast, combustion bikes have been recorded using the word "sales." While we can't comment on what the writers of any financial report were thinking, the change in word choice is a simple matter of fact.
As another reminder, LiveWire reporting includes all electric motorbikes in the Harley-Davidson portfolio, not just those in the LiveWire brand. StaCyc electric balance bikes for children, which are significantly less expensive than all of the company's other new, two-wheeled offerings, are also included in this reporting.
