Stock Groups

Harley-Davidson to suspend most vehicle assembly due to parts issue

[ad_1]

Harley-Davidson motorcycle engines can be assembled at their Powertrain Operations plant, Menomonee Fall, Wisconsin. 

Getty Images

Harley-DavidsonDue to parts issues with suppliers, the bicycle maker announced Thursday that all vehicle assembly will be suspended and shipments would be suspended for a period of two weeks.

According to Harley, a third party supplier had informed Harley of a regulatory compliance issue involving the supplier’s component.

Premarket trading saw Harley shares fall 9% to $32.51

Milwaukee-based Harley posted a decrease in its first quarter profit in April due to lower margins and higher chip prices.

The company previously stated that supply chain issues caused motorcycle sales to decline in North America due to lower inventory levels.

[ad_2]