Blue Water Healthy Living
Business & Technology

Harley-Davidson shares fall as it suspends plants for 2 weeks

(AFP)

Harley-Davidson suspended most assembly operations and shipments for two weeks due to an unspecified supply chain problem, the motorcycle maker announced Thursday.

Shares of the transport company tumbled following the announcement, which affects factories in Wisconsin and Pennsylvania.

Advertisements - Click the Speaker Icon for Audio


The move does not affect operations of Harley’s LiveWire electric motorcycle business, the company said. 

“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 concerning a regulatory compliance matter relating to the supplier’s component part,” Harley-Davidson said.

A Harley spokesperson declined further comment.

The motorcycle maker has previously been among the many companies in transport to cite the shortage of semiconductors as a drag on operations, leading to leaner profit margins in the most recent quarter.

Shares fell about 10 percent to $32.22 in early-afternoon trading.

Related posts

JPMorgan Chase profits fall 42%; warns of hit from inflation, Ukraine

Agence France-Presse

Passenger jet catches fire while landing at Miami airport

Agence France-Presse

WTO talks extended in bid to seal elusive deals

Agence France-Presse