Harley-Davidson suspends Russia operations, bike shipments
Volvo and General Motors are also suspending vehicle exports to Russia.
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Harley-Davidson is suspending its business in Russia and all bike shipments to the country in response to the ongoing conflict with Ukraine.
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"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."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HOG | HARLEY-DAVIDSON INC. | 32.32 | +0.49 | +1.55% |
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.
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In addition to Harley-Davidson, Volvo and General Motors are suspending vehicle exports to Russia.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 57.88 | +0.47 | +0.81% |
| VLVLY | VOLVO AB | 24.8997 | -0.47 | -1.85% |
| DMLRY | NO DATA AVAILABLE | - | - | - |
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.