While not being paid for May and June 2020, H-D has announced that in addition to an annual base salary of $2.5m, newly minted permanent CEO Jochen Zeitz will be eligible to receive a $1.5m bonus upon Board approval of his new strategic and financial plans later this year (to be paid in February 2021), stock options that could be worth up to $5m, and a one-time "Cash Award" payable in July 2020 in the gross amount of $1m to cover the overall financial impact of his relocation to the U.S. Starting in 2021, he will additionally be eligible to participate in the Harley-Davidson, Inc. short and long-term incentive plans that could be worth some $7.5m in total. He will also be covered by the company's Executive Severance Plan and under a transition agreement similar to the company's transition agreements with other executives.New motorcycle registrations Italy for April were -95.85% at just 526 units, having been -69.18% in March (3,855 units). For the YTD (Jan - April) new motorcycle registrations in Italy were -49.41% at 20,055 units - some 15,000 plus of those in a good start to the year in January and February. In total PTW terms March was -66.08% at 8,520 units and -96.98% in April with 813 new units registered. The top selling motorcycle in Italy YTD is the BMW R 1250 GS Enduro. For the record, the Italian market was again Europe's largest at +6.26% in motorcycle registration terms for 2019 (98,883 units) and +5.65% in total PTW terms at 231,937 units.
Registration has opened for the 2020 AMA Vintage Motorcycle Days. Slated for the Mid-Ohio Sports Car Course at Lexington, Ohio, July 10-12, it is billed as a five-competition annual celebration of America's motorcycling heritage. Competition classes include hare scrambles, motocross, trials, flat track and road racing, with pit bike and holeshot exhibitions also planned. Class winners in the trials, hare scrambles, motocross and road racing disciplines will receive AMA National No. 1 plates. The flat track race, which takes place on July 11 at the Ashland County Fairgrounds in Ashland, Ohio, is part of the AMA Vintage Flat Track National Championship Series. In addition, two riders will be named AMA Off-Road Vintage Grand Champion and AMA Senior Off-Road Vintage Grand Champion for excelling in their respective expert-level-eligible classes.
Joel and Julie Felty have sold their Monrovia, California based Headwinds Inc. lights business to R. M. Garrison Machining Inc., the Phoenix, Arizona based owner of Accutronix.
MPN reports that Harley-Davidson dealerships ranked highest in the 2020 Pied Piper PSI Internet Lead Effectiveness (ILE) Industry Study, which answers the question, "What happens when motorcycle or UTV customers visit a dealer website and inquire about a vehicle?" Dealerships selling Indian motorcycles were ranked second. The study was completed before the appearance of the coronavirus pandemic, but in the aftermath of the pandemic dealer response to website customers had become even more critical. A recent Wall Street Journal article noted, "The new coronavirus pandemic is deepening a national digital divide, amplifying gains for businesses that cater to customers online, while businesses reliant on more traditional models fight for survival."
The latest new PTW registration numbers from ANESDOR, the motorcycle industry trade association in Spain, continue the predictably depressing impact seen in the second half of March as the market there remained under 'lockdown' for the whole of April. Total new PTW registrations were down by -93.47% in Spain in April at 1,074 units, ), with March -43.66% down (9,128 units). For the year to date, the motorcycle market in Spain is -34.40% (34,038 units sold), compared to 51,885 units sold in the first four months of 2019.
Polaris Industries has signed an "incremental" $300m 364-day unsecured term loan facility, further increasing the company's liquidity position. "During this pandemic-related lockdown of the global economy, we remain committed to prudently managing the company's financial resources for the long term. Execution of this new term loan with our long-standing banking partners provides us with an additional liquidity buffer to navigate these uncertain times," said Mike Speetzen, Polaris' Executive Vice President and Chief Financial Officer.
Sources: AMD, IDN, FT, Reuters, PSB, MPN, B&B, BDN, MCN, AP, Bloomberg, MSNW, Electrek, electricmotorcycles.news