Harley-Davidson struggles to fire up a new generation of riders with $29,799 LiveWire bikes by rajeshkumarsgh
) is betting on electric motorcycles to attract the next generation of younger and more environmentally conscious riders to reverse declining U.S. sales.
The sleek sport bike has been available for preorder in the United States since January. However, the bulk of the orders are coming in from existing and old riders, according to interviews with 40 of the 150 dealerships nationwide that are carrying the bike this year. The heavyweight motorcycle maker's stock price has declined by 42% in the past five years. By comparison, the S&P 500 IndexWhen Chief Executive Officer Matt Levatich announced LiveWire’s launch last year, his hope was the ease of riding motorcycles with no gears or clutch would help attract young and environmentally conscious urban riders.
Harley’s dealers said they are getting inquiries from young customers, but are struggling to translate them into sales. A key reason: LiveWire’s retail price. Tesla’s first electric car cost over $100,000, but prices came down with subsequent models. Its Model 3 now comes with a base price of $35,000 and was instrumental in lifting its vehicle deliveries to a record level in the latest quarter.The motorcycle maker has plans to bring out four more electrified models in the mid-power, low-power, e-bicycles and kids’ two-wheeler segments by 2022.
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