Harley-Davidson suspends Russia operations, bike shipments

Stuart Varney on Russia-Ukraine crisis: It’s time to consider ‘banning’ Russia’s energy exports

FOX Business host Stuart Varney argues Biden ‘has an ideal opportunity to pile on the pressure’ as Russian invasion continues.

Harley-Davidson is suspending its business in Russia and all bike shipments to the country in response to the ongoing conflict with Ukraine. 

TESLA OFFERING FREE CHARGING NEAR UKRAINE TO HELP EVACUEES

"In light of the crisis in Ukraine, Harley-Davidson has suspended its business in Russia and all shipments of its bikes to the country," a spokesperson for the motorcycle manufacturer told FOX Business in a statement Tuesday. "Our thoughts continue for the safety of the people of Ukraine and those impacted by the crisis."

TickerSecurityLastChangeChange %
HOGHARLEY-DAVIDSON INC.39.88-1.41-3.40%

While Harley-Davidson does not provide specific motorcycle sales figures by country, its Europe, Middle East and Africa region, which includes Russia, accounted for 31% of 2021 motorcycle sales and 36.9% of 2020 sales.  

GET FOX BUSINESS ON THE GO BY CLICKING HERE

In addition to Harley-Davidson, Volvo and General Motors are suspending vehicle exports to Russia.

TickerSecurityLastChangeChange %
GMGENERAL MOTORS CO.44.35-2.37-5.07%
VLVLYVOLVO AB17.94-1.15-6.02%
DMLRYMERCEDES-BENZ GROUP AG18.25-1.17-6.02%

Meanwhile, Daimler Truck owner Mercedes-Benz Group said it is looking at legal avenues to divest the 15% stake it holds in Russian truck maker Kamaz, Reuters reported.

Source: Read Full Article