Harley Davidson, known for motorcycle sales entered into the electric vehicle segment by launching both electric motorcycles and kids’ e-bikes in 2019. First reported by Biz Times, revealing motorcycle maker’s revenue in electric segment. Since the company launched into the market its electric vehicles through the Live Wire brand in 2019, the brand had revenue of $73.9 million. In the total revenue from LiveWire, $41.3 million came from the StaCyc electric balance bikes and another $29.9 million from sales of electric motorcycles.
Harley Davidson has been filing to SPAC by contacting ABIC in April 2021. However, it was later by July that the SPAC took LiveWire seriously. Possibly as sales have been increasing. The securities filings include more details about the performance of LiveWire since its launch in 2019. In 2020, CNBC reported that while Tesla was taking over the electric car segment, Harley Davidson was taking over the electric motorcycle segment. With the recent findings, this continues to be true as the electric bikes sales increase.
The majority of the revenue for LiveWire is coming from the kids’ bikes, thus making Harley Davidson help its dealers in the sales of electric motorcycles. In the fourth quarter of 2020, Harley Davidson offered a $15.3 million sales concession for its dealers to recognize the EV segment invests from their dealers.
Complication
The comparison of sales of Live Wire and Harley Davidson has been complicated as they are further divided into electric motorcycles and kids’ e-bikes sales. Harley then decided to drop the branded LiveWire model and establish electric motorcycle as its brand. Later the LiveWire brand was announced in May last year.
Electric motorcycle revenues in the first nine months of 2021 dropped to $5.4 million, down from $25 million in 2020 as the company decreased shipments and increased sales promotions to clear the dealer network of H-D branded LiveWires. Across the 33-month period covered in the securities filings, Harley’s wholesale shipments of Livewire total 1,942 units, with 62% of that shipping within the U.S. Furthermore, Harley reported retail sales of 1,648 units with 1,057 of those selling in the U.S.
Sales figures from other electric motorcycles companies are also not revealed often. Zero Motorcycles is a private company and does not release financial reports like other companies. Though Harley Davidson does reveal financial reports the details about each vehicle sale were not known. However, it was stated in one of the financial reports that “Harley-Davidson has referred to the LiveWire as the “#1 best-selling electric motorcycle in the US.”
