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Actor Jesse Metcalfe riding Harley Davidson
Harley-Davidson is emerging from India, the world’s largest motorcycle market.
Iconic U.S. The motorcycle maker is shutting down sales and manufacturing operations, he said.
Toyota said it would not expand further in India due to the country’s tax regime, thousands of weeks after Harley’s decision.
The exit is a tweak to Indian Prime Minister Narendra Modi’s efforts to lure or retain foreign producers.
The move includes a restructuring cost of Rs 75m (m 59m), about 70 redundancy and closure of its acacia plant in northern India.
The plant opened in 2011 but Harley-Davidson has struggled to compete with local brand Hero, Japan’s Honda.
About 17 million motorcycles and scooters are sold in India every year.
More shock
Although it is cheaper than many other developing economies, India has proved to be a difficult market for foreign auto toe manufacturers to crack.
General Motors exited the country in 2017 when Ford planned to move most of its assets in a joint venture with Indian automotive company Mahindra and Mahindra last year.
US President Donald Trump had earlier complained about India’s high taxes, especially on Harley-Davidson bikes.
India’s 100% import tariff was reduced by 50% but the brand is still struggling in a competitive market.
But Harley is facing its own problems and has recorded its first quarterly loss in more than a decade between April and June this year.
It is cutting hundreds of jobs under its new chief executive Jochen Zitz and focusing on key markets and models.
Harley U.S. In addition to Baby Boomers, the company is looking to grow the brand with smaller models, Dello and all-electric versions.
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Dennis Hopp and Peter Fonda ride Hurley Davidson in a scene from the movie Easy Rider.
Harley History
The iconic US motorcycle brand was founded in 1903 and has built a very loyal customer base. It has owners clubs all over the world.
It reached the global level in 1969 thanks to the classic road movie Easy Rider starring Peter Fonda and Jack Nicholson on Dennis Hopp.
Nicknamed “Hogs”, the bike is made in factories in India as well as in the US, Brazil and Thailand.
