Harley-Davidson to cease production of Buell motorcycles
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EAST TROY -- In an emotional video released today, founder Erik Buell announced that the company would cease production of Buell Motorcycles.
"I will always be proud of American's little sport bike company that took on the world," Buell said. "While I regret that we will not be able to build new Buell Motorcycles, Harley Davidson will stand behind Buells full warranty."
"We've proven that a small group of passionate and inspired people can compete against industry giants," Buell said.
The announcement came following news today that Harley-Davidson's third-quarter profit slid 84 percent on lower motorcycle shipments and recession-related difficulties in getting loans for its customers.
Last month, the company announced Production that Buell Motorcycle Co., based in East Troy will shut down between November 2009 and January 2010, leaving about 52 employees without work.
But the latest revenue figures forced the company to end the Buell line.
Harley-Davidson — which has implemented production and job cuts this year — said Thursday its earned $26.5 million, or 11 cents per share. That's down from $166.5 million, or 71 cents per share, a year ago.
It says sales dropped 21 percent to $1.12 billion
Analysts forecast profit of 21 cents per share on revenue of $1.1 billion.
Oct 16, 2009 at 8:49 a.m.
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Although I never owned a Buell, I have always loved the style and sound of those bikes. I hope that Erik finds comfort in knowing he made quite a footprint in the sport bike market. I don't think this is the last we have heard from Erik, though. He has the ability to combine sound leadership with creativity and inovation. I'm anxious to see what he does next...
Oct 15, 2009 at 10:33 p.m.
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I think it is a shame that Harley shut them down. Their quality and design engineering are outstanding.
I just hope the assets of the operation and the design and production teams will find their way to another domestic investor.
Oct 15, 2009 at 4:52 p.m.
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What a sad day this is. But what a great bike! My thoughts are going out to all of the employees in these tough times. A tip of the hat to Erik Buell for going against the odds and proving that the US can still do what the other countries think they have the corner on.
Oct 15, 2009 at 4:29 p.m.
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Pretty sad stuff. He seemed like a guy that personally stood behind his products. I have owned a Buell motorcycle and it was a great little bike. I never had a single problem with it. I myself traded up for a Harley, up meaning more expensive not knocking quality. It was very fun to ride. I always have a grin when I see someone on a Buell because they are such a unique motorcycle. I guess Buell owners stray away from the norm of Japanese bikes. Best wishes Erik Buell, you are a smart man.
Oct 15, 2009 at 12:56 p.m.
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More bad news. Erik Buell is one of the good guys. Very, very sad.
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