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Benzinga

Business

Shivani Kumaresan

Harley-Davidson Suspends Motorcycle Production, Shipping For Two Weeks

HOG Jaime Katz Morningstar NYSE Wikimedia Commons Pennsylvania Supply chain Wisconsin

Harley-Davidson Inc (NYSE:HOG) said it has suspended all vehicle assembly and shipments, excluding its electric motorbike, LiveWire, for a two-week period.
The motorbike maker has taken the decision in caution of a regulatory compliance matter relating to a supplier's component part.
Related: Harley-Davidson Clocks 5% Revenue Growth In Q1; Margin Shrinks Due To Supply Chain Constraints
So far, production at two manufacturing plants in Wisconsin and Pennsylvania have been halted, Reuters reported.
"There's no indication of how this impacts the business or how it impacts the units that have already been made," the report quoted Jaime Katz, senior equity analyst at Morningstar.
Price Action: HOG shares closed lower by 9.29% at $32.43 on Thursday.
Photo Via Wikimedia Commons

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