Harley-Davidson cuts production

Harley Davidson fans are obviously being affected by the credit crunch, as we see Harley Davidson closing plants and is to cut 1,100 jobs representing 12% of its workforce.

Net income at Harley Davidson was down by 58% for the last quarter over the same period in 2007, after the company reporting worse than expected results. The last quarter showed net income of $77.8 million (£57.1 million).

Harley cut production in 2008 and is planning to cut production further by around 13% in 2009. Sales in Latin America sales seem to be the worst affected falling by 28% with sales in the USA falling by 19.6%.