Iconic American motorcycle maker Harley-Davidson Motor Co. has decided to exit India, its departure dropping the curtain on a troubled stint in a lucrative market for two-wheelers.
After 11 years of operations in India, the cult bike maker told employees on Thursday that it is discontinuing sales and production operations in India as a part of a global restructuring plan.
Last month, the company had hinted at exiting some tough markets as a part of its strategic plan which entails pulling out of loss-making markets and focusing on the US, Europe and parts of Asia Pacific.
The company has seen its losses mount and market shares shrink in premium motorcycle segments across continents as it struggles to keep pace with the changing preferences of young riders.
In India, the world’s largest and most price-sensitive two-wheeler market, it struggled with sharply declining production and sales.
Indian production volume fell from 11,753 units in FY16 to 4,533 units in FY20 and sales declined from 4,708 units to 2,470 units during the same period.