Harley-Davidson says it will reduce shipments of new motorcycles by 27,000 in 2008, following a first quarter drop in profit of 2.5 per cent.
In the U.S., H-D motorcycle sales fell 12.8 per cent in the quarter, and worldwide sales were down 5.6 per cent.
The company will cut 730 jobs, about half of them in production.
Profit for the quarter was only $187.6 million, compared with $192.3 million in the same quarter of 2007. Still, Harley says its bikes sold better in the U.S. market during the period than the average of all companies’ heavyweight motorcycle sales.