Harley Stops production, sites supplier issues
May 19, 2022 4:00PM CDT
Harley-Davidson is announcing a two-week suspension of vehicle assembly and most shipments, citing a regulatory compliance issue with one of its suppliers.
Company shares tumbled almost 8% Thursday.
Harley-Davidson says the decision was made “out of an abundance of caution” after the company received information from a supplier of one of its component parts.
The company, like most global manufacturers, was already struggling with supply issues.
It reported in April that its profit was trimmed by rising costs and chip shortages, which hurt sales in North America.