Harley-Davidson, a US-based flagship motorcycle manufacturer, is shutting down its production and sales operations in India. The company has announced this under ‘The Rewire’. Actually, signs were being given by the company for some time. According to the news agency Reuters, 75 million dollars is required for the company’s restructuring, due to which the company has stopped its production and sales. According to a report, Harley has sold only 5% of its total sales in India. In such a situation, this is bad news for the Harley enthusiasts.
An official press release has been issued by Harley Davidson to cease operations in India.
Harley Davidson sold less than 2,500 units in India in the last financial year. It is believed that a major reason for this decision of the company is also the corona virus epidemic, due to which its operations in India have suffered heavy losses.
Big shock for Donald Trump
Harley-Davidson is the second US automaker to cease operations in India since Donald Trump took office. Earlier, General Motors had consolidated its domestic operations and sold its Gujarat plant in 2017.
Harley-Davidson could not even stand in 10 years
Earlier reports had claimed that Harley-Davidson may cease operations in the Indian market. The report stated that the company is considering shutting down its assembly operations in India, given lower sales in India and better demand for its bikes in the future. Please tell that Harley had completed 10 years in India.
Harley-Davidson had given hints before
In a statement with its second quarter results last month, Harley-Davidson stated, “The company is evaluating plans to exit international markets, where production and profits do not support continued investment in line with future strategy . “