In its second quarter 2020 presentation, Harley-Davidson provided an update on its Rewire strategy, clarifying specific details about the plan, and offered a few hints about its follow-up, the newly-christened Hardwire plan which will carry the company through 2021 to 2025. Moving forward, Harley-Davidson plans to reduce its model lineup by 30%, will concentrate its focus on 50 markets, and will proceed to launch its first adventure-touring model in 2021.
But first, the bad news. Through the first half of 2020, Harley-Davidson reported a net loss of $23 million including a loss of $92 million in the second quarter. Obviously, COVID-19 had a large impact on Harley-Davidson’s bottom line, but the restructuring costs of Rewire were also a factor.
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