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Tuesday 25 October 2022

News Briefs


KTM, Husqvarna and GasGas parent company PIERER Mobility AG announced a "strong performance in the first half of 2022," with revenue +7.1% at € 1,154.1m. Motorcycle unit sales were down -7.2% compared to H1, 2021 at 163,334 units, with sales of e-bicycles and bicycles down -3.7% (51,417 units). Despite having to cite supply chain challenges, meaning that the Group couldn't meet demand, in H1 the company increased its guidance for the 2022 full year. Its growth is said to have been "particularly strong" in North America (44,689 units sold, +47%). Supply chain issues are said to have been particularly acute in Europe (61,435 units sold, -15%). The Group headcount increased by 768 in H1 to a total of 5,656 employees.

Rossiter's H-D (Sarasota, FL.) has been sold and the name changed to Adrenaline H-D. The new owners are Josh Russom and Andrew Campbell of Momentum Holdings. Founded in 2007 and headquartered in Montgomery, AL., Momentum is the parent company of six H-D stores.

AMA Hall of Famer Ed Fisher passed away on August 4, age 97. Fisher won the Laconia Classic in 1953. Ed served in the 82nd Airborne during World War II and fought in the Battle of the Bulge. After the war he bought an Indian Chief and went to work as a mechanic in an Indian dealership in Lancaster, Pa. He began racing, becoming an Indian flat track factory rider in 1949. He rode in the 1952 Daytona 200 for Triumph on one of the rare Triumph factory specials, running up front early, until an oil line broke. His Laconia win was the closest race of the event's history - the top four finished within three seconds of each other. He was not officially named winner until months later - "I found out when a $1,000 check turned up in the mail." His dirt-track career included finishing second in the famous Langhorne (Pa.) 100 Mile National in 1953. In 1972, 19 years after his father had accomplished the feat on the old Laconia track, Ed's son Gary won the Loudon Classic - making the Fishers the only father-and-son combination to win the classic road race.

Indian is to recall certain Chief, Chief Vintage, Chieftain, Chieftain Classic, Chieftain Darkhorse, Chieftain Limited and Springfield motorcycles due to a possible electrical failure (VCM connection) that may cause the loss of headlight function. The move is thought to affect some 28,689 units from 2014 to 2020.

Honda and LG Energy Solution have announced they are to spend $4.4bn to construct a new battery plant in the U.S. This will join the plants GM is building in Ohio, Michigan and Tennessee; the ones Ford is building in Kentucky and Tennessee; the one Toyota is building in North Carolina; and the one Stellantis is building in Indiana (Fiat/Chrysler/Peugeot/Citroen etc). They are all part of the flood of investment capital into electric vehicles and indicative of an 'on-shoring' response to the supply chain challenges seen since early 2020. Most recently to the G7's global minimum tax initiative and the passage of the CHIPS and Science and Inflation Reduction Acts have 'focussed minds'.

Vista Outdoor (Anoka, MN. - owner of Bell Helmets and some 40 or more other 'outdoor' and sporting goods brands) has confirmed the closing of its previously reported $540m deal to acquire the 1974/Geoff Fox founded Fox Racing apparel business.

Fox Factory Holding Corp. (Nasdaq: FOXF) has reported record quarterly sales of $406.7m (+23.9%) for Q2, 2022. Gross profit increased +28.7% to $142.9m. Net income was $53.5m, or 13.2% of sales.

Brembo has reported strong growth in the first six months of 2022, with revenues at € 1,746.5m (+28.3%); EBITDA up by 13% at € 305.3m (EBITDA margin: 17.5%); EBIT also up by 13% at € 187.5m (EBIT margin: 10.7%); net profit at +17.3% and net investments for the period amounted to € 121.6m. At € 595.1m (€ 368.0m prior to the application of IFRS 16), net financial debt was up € 98.2m compared to 30 June 2021.

Only just catching up on this bit of news - online parts sales pioneer BikeBandit ceased operations in February and is the subject of bankruptcy proceedings. BikeBandit was founded by Ken Wahlster in 1999 and sold on by him in 2013.

After a disappointing sales performance in sales terms in North America in the past five years, one rescued, initially, by the trend-setting 'Grom', long-time company executive Rick Schostek will retire as Executive Vice President of Corporate Services. He will be succeeded by Bob Nelson, currently Executive Vice President of Honda Development & Manufacturing of America, LLC.

Sources: AMD, IDN, FT, Reuters, PSB, MPN, BDN, MCN, AP, Bloomberg, MSNW, Electrek,,,, Cycle World,