JACKSONVILLE, Fla. – Motorcycle makers like Harley-Davidson could face difficult times, according to a report from UBS. The issue, a generational divide in attitudes toward motorcycles.
Younger millennials do consider buying motorcycles, but for different reasons than older customers.
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UBS found that Harley's average customer is a married man in his early 50s, with a household income at or above $90,000. Those customers buy motorcycles out of the passion for the product and lifestyle. Younger buyers are motivated for practical reasons, which means they're less interested in expensive bikes.
According to a report from CNBC, shares of Harley stocks have fallen 32 percent over the last year.
The report states that Harley-Davidson has a 10-year plan to entice 2 million new riders. The company is setting up riding schools around the country, and is releasing an electric motorcycle called "Livewire."