Harley-Davidson - worldwide revenue FY 2020-FY 2023
Harley-Davidson's global revenue increased by 1.1 percent in 2023 compared to the previous year. H-D generated around 5.83 billion U.S. dollars in revenue for the full 2023 financial year, nearly one billion U.S. dollars of which was generated from financial services. That same year, revenue generated from motorcycle sales decreased by around one percent to some 4.88 billion U.S. dollars. The U.S. was the most important regional market for Harley-Davidson in 2022 with 98,500 unit sales.
Potential for growth in Asian markets
In terms of units sold, the Asia-Pacific region is by far the world’s largest market for motorcycles and other two-wheelers. Motorcycle sales in China reached almost 14.7 million units in 2023. The U.S. will remain a priority for Harley-Davidson, but the company is making concerted efforts to grow in Asian markets.
New lineup caters to untapped markets
Harley-Davidson has this far been unable to make its mark in Asian markets. The company predominantly operates in the medium to heavy segments, and the brand has only recently expanded its platform to include medium weight models. Although H-D has strong loyalty among many of its consumers, the U.S. motorcycle market has shrunk since the mid-2000s. H-D now has a partner in both India and China. To suit these markets, smaller displacement engines are becoming more common in the Harley line-up and are more likely to be produced abroad.
