Harley-Davidson is branching out.
The iconic motorcycle manufacturer plans to roll out leaner and lighter bikes into showrooms by the end of the month.
Good-bye hogs, hello street bikes?
“An interesting way for Harley to expand its business is to cater to a wider audience,” says Moringstar analyst Jaime Katz.
Katz says 30 percent of last year’s sales went to what Harley calls its "outreach market" -- anyone other than white men over the age of 35. The company hopes its "Street" models -- bikes that are lower, lighter, and easier to handle -- will create a higher demand, especially among the fastest growing demographic groups: women.
“Women are climbing corporate ladders, they own a lot of small businesses and so they have money and time,” says Genevieve Schmitt, founder and editor of Women Riders Now.com. Schmitt says in a sign that the female bikers market is growing, she expects Harley’s new line to attract new female riders.