Statement from Harley-Davidson

Rhea-AI Summary

On May 19, 2022, Harley-Davidson (NYSE:HOG) announced a temporary suspension of all vehicle assembly and shipments, excluding LiveWire, for two weeks. This precautionary measure was taken due to a regulatory compliance issue with a third-party supplier's component part, communicated to Harley-Davidson on May 17. The company emphasizes this decision is based on safety and compliance concerns, although details regarding the potential impact on production or finances have not been disclosed.

Positive

• None.

Negative

• Suspension of all vehicle assembly and shipments for two weeks could lead to production delays.
• Regulatory compliance issue may affect supplier reliability and future operations.

MILWAUKEE, May 19, 2022 /PRNewswire/ -- Yesterday, Harley-Davidson, Inc. ("Harley-Davidson") (NYSE:HOG) took the decision to suspend all vehicle assembly and shipments (excluding LiveWire) for a two-week period. This decision, taken out of an abundance of caution, is based on information provided by a third-party supplier to Harley-Davidson late on Tuesday (5/17) concerning a regulatory compliance matter relating to the supplier's component part.

Company Background

Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Our vision: Building our legend and leading our industry through innovation, evolution and emotion. Our mission: More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul. Our ambition is to maintain our place as the most desirable motorcycle brand in the world. Since 1903, Harley-Davidson has defined motorcycle culture by delivering a motorcycle lifestyle with distinctive and customizable motorcycles, experiences, motorcycle accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get riders on

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SOURCE Harley-Davidson, Inc.

FAQ

What recent action did Harley-Davidson (HOG) take regarding vehicle assembly?

Harley-Davidson announced a two-week suspension of all vehicle assembly and shipments, excluding LiveWire, due to a regulatory compliance issue.

What was the reason for Harley-Davidson's (HOG) assembly suspension?

The suspension was based on a compliance matter related to a component part from a third-party supplier.

When did Harley-Davidson (HOG) announce the assembly suspension?

The assembly suspension was announced on May 19, 2022.

How long will Harley-Davidson (HOG) suspend vehicle assembly?

The suspension of vehicle assembly by Harley-Davidson is set for two weeks.

Does the assembly suspension affect all Harley-Davidson vehicles?

All vehicle assembly and shipments are suspended, except for the LiveWire models.