The company was helped by restructuring measures to bring costs under control and improve management. Sales and sales fell due to the pandemic, but less than in the previous quarter and less than analysts expected, Reuters reported.
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Motorcycle sales fell six percent year-on-year to 43,000. The decline eased significantly from 59 percent in the previous quarter, indicating that demand for large motorcycles is increasing. Retail sales in the United States, the company’s largest market, fell 10 percent year-over-year but also slowed from 27 percent in the second quarter.
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Total revenues decreased by eight percent to $ 1.17 billion (CZK 27 billion). Sales of motorcycles and related products fell 10 percent to $ 964 million.
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The recovery comes at a time when CEO Jochen Zeitz is trying to move away from loss-making markets such as India and focus on growth markets such as the United States, Europe and parts of Asia Pacific, as well as reducing costs in those regions. The company’s total spend fell 26 percent to $ 196.9 million in the quarter.
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