With a drop in sales over the last four years, Harley-Davidson is scheduled to close their Kansas City assembly plant that employs eight hundred people, but will reopen in York, Pennsylvania, and that is believed to create four hundred jobs.
Harley Davidson’s net income fell 82% in the final quarter of the year, down to $8.3 million when the previous year it closed out at $47.18 million. The new tax law resulted in a $53 million charge and another $29 million in recalls per the Journal Sentinel, based out of Milwaukee.
Now, I have written before about the Trump Administration and Harley Davidson. We witnessed something we hadn’t before, and that is Harley mixing in politics. I reached the conclusion early on that H.D. was not a fan of Trump, especially when the company started the hashtag #unitedweroll.
Then there was that odd time that President Trump seemed to have planned signing Executive Orders at the Milwaukee plant. White House Staffers were there, but no mention of the visit was stated publicly, except for when Harley Davidson said they were concerned about protests, but yet, there was “nothing scheduled.” Not sure how you can be concerned about protests based on a non-existent visit by the President. None of it made sense, which caused me to read in-between the lines.
Matt Levatich, CEO of Harley, stated that the Republicans were riding the “crazy train.” He made a valid point when he stated that being a brand known globally, politics would affect business, which means bottom line- money. Now, seeing that the new tax plan cost Harley Davidson $53 million, that explains it.