Do Millennials buy Harleys?

Younger Consumers Are Buying Motorcycles for Different Reasons. Harley-Davidson is struggling to stay afloat, and some say the culprit is millennials. Harley Davidson sales have taken a significant hit over the last four years, and the company is struggling to attract new and younger customers.

What motorcycles are millennials buying?

More than one in three millennial motorcycle collectors calling Hagerty for an insurance quote (37 percent) are inquiring about a Harley-Davidson. That makes it the most popular marque for millennials, ahead of Honda. No other brand comes close.

What demographic buys Harley-Davidson motorcycles?

This distinction is important, since the average Harley-Davidson customer is a married man in his early 50s, with a household income at or above $90,000. These are the customers buying motorcycles out of a passion for the product or lifestyle.

What age group buys Harley-Davidson?

Harley dealerships are thriving. But there is another statistic associated with these legendary bikes that is startling, all the more so if you don't ride: The average age of a Harley owner these days is 44. In fact, more than eight out of 10 Harley owners are over 35; almost one in five is 55 or older.

Are Harleys still popular?

Harley-Davidson has the highest market share of any motorcycle brand in the US based on unit sales. As of March 2020, it accounted for around 30% of all motorcycle sales in the country.

Why millennial's are not buying Harley's

Are Harleys overrated?

Harley riders might disagree, but Harley Davidson is terribly overrated. This is what Sammy James from hotcars.com claims. Nice to look at, but pretty much worthless overall. Performance, comfort, reliability, and every other feature that define a cool superbike are all missing.

Who is Harleys target market?

Harley-Davidson buyers are predominantly males, aged 55 and above. With a comfortable disposable income, they invest in these premium vehicles because they identify motorcycling as a passionate hobby of theirs. These consumers are ageing, however, and steadily outgrowing their interest in purchasing new bikes.

Do millennials ride motorcycles?

According to a study by CDK Global Lightspeed reported in Powersports Business, Millennials purchased 43% of all off-road motorcycles over the course of the last year. This number is based on data from Dealership Management Software focusing on 109,000 new and used units sold between August 1, 2019 to July 31, 2020.

What is the average age of a Harley-Davidson rider?

In 2008, Harley-Davidson said its average rider was 48 years old, up from 46.1 in 2004 and 43.4 in 1999, Farley says. Extrapolating from those figures, she believes the current average rider is over 50 and, by definition, still a boomer.

Why do people lower Harleys?

Lowering the seat can help you make your motorcycle more comfortable to ride, and it makes it easier to reach the ground. By shaving off a portion of the seat, you'll make it easier to firmly plant your feet because you won't have to spread your legs so far around the bike.

Are Harley sales declining?

Harley-Davidson, Inc. today reported first quarter 2022 results, which showed a slight decline in retail sales at dealerships compared to the year-ago period.

Will Harley-Davidson survive 2021?

By the time we hit Key West, we'd come to the conclusion that Harley Davidson was decidedly very much alive in 2021 — in fact, we actually fell a little bit in love with the bikes. It was bittersweet returning them to their owners, and JP is even considering buying a Harley Davidson as his next bike!

What age group buys motorcycles?

The average age of a motorcycle owner has increased from 40 to 48 years of age since 2001. From 2003-2008, the number of US households purchasing motorcycles climbed by 26%.

Why is Harley-Davidson failing?

The reason for such drastic revenue decline is due to the market for Harley-Davidson branded motorcycles. The core customer base is aging, and younger motorcyclists are more apt to purchase cheaper options. The consequences can be seen in the rapid decline of US shipments over the past five years.

Is Harley-Davidson a luxury brand?

The truth is, Harley-Davidson is a luxury brand cleverly disguised as a blue-collar, workin' man's brand. It's a name synonymous with regular, working-class folk, but have you seen the prices of these things?

Is Harley a luxury?

7 Harley-Davidson Survived The Great Depression

Motorcycle companies were among the hardest-hit, as most people considered them a luxury. Despite terrible economic conditions, Harley-Davidson fought hard and survived by creating industrial engines to keep revenue flowing.

What are the odds of dying on a motorcycle?

By dividing fatalities by the overall number of wrecks, we find that 4.6 percent were fatal, which means that motorcyclists as a whole survived crashes about 95 percent of the time.

Are motorcycles becoming less popular?

The motorcycle category has been struggling for some time. Shares of U.S. market leader Harley-Davidson Inc. HOG, +0.70% have tumbled more than 25% over the past year, with U.S. retail unit sales falling for the past three years.

Is the motorcycle industry dying?

A Dying Industry? To be short and to the point, no, the motorcycle industry is not dying. The vast majority of articles which claim the motorcycle industry is dying point to industry sales figures today versus sales figures in the 90's (during the economic boom).

Are motorcycle sales declining?

During the last decade, the two wheeler market was steady declining in the U.S.A.

Who is Harley-Davidson biggest competitor?

Harley-Davidson's major competitors are Triumph, Yamaha, Ducati, and Royal Enfield brands.

Is Harley-Davidson in trouble?

The Stock Is Falling. Harley-Davidson stock was falling after the motorcycle maker said its first-quarter operating income declined due to semiconductor shortages and other supply-chain problems.

What is the appeal of Harley-Davidson?

Harley-Davidson motorcycles are made to last. With their durable assembly matched with their revolutionary engines, these bikes are incredibly durable. Plus, most of their parts are easily replaceable; meaning that you can purchase new parts when they become damaged or well-worn instead of buying an entirely new bike.

What is the marketing strategy of Harley-Davidson?

Harley-Davidson's marketing strategies are primarily focused on providing a personalized experience to its customers to allow them to connect with the brand. Allowing Harley customers to modify or customize their motorcycle is one of the rare features that the company offers.

Why are Harleys so overpriced?

Harley-Davidson motorcycles are expensive because it's a premium brand, it has increased its quality since the 1970s by reducing the number of suppliers and implementing strict standards and also because manufacturing and assembly takes place in a country where the demand for labour is higher.