Eicher-owned Polaris Industries announced that the company is considering moving its production of some motorcycles out of the U.S. because of European tariffs; just days after Harley-Davidson announced a similar move. A spokeswoman for Polaris Industries acknowledged that the company could move some production of its Indian Motorcycles from northwest Iowa to Poland. On June 25, Harley-Davidson announced that it was moving production of its motorcycles sold in Europe from U.S. factories to facilities overseas because of retaliatory tariffs.
Also Read: Harley-Davidson To Shift Production Overseas To Offset EU Tariffs
"Nothing is definitive," Polaris spokeswoman Jess Rogers said. "We're looking at a range of mitigation plans."
Recently, US President Donald Trump used Harley-Davidson as an example of a U.S. business harmed by trade barriers in other countries before imposing steep tariffs on European steel and aluminum. The EU responded with measures that hit around $3.25 billion worth of American-made products, including on American-made motorcycles. The American motorcycle-maker said the new tariffs would add about $2,200 per average motorcycle exported from the U.S. to the EU.
Also Read: Trump Threatens Tax On Harley-Davidson Bikes Imported To The US
In its first-quarter earnings released in April, Polaris projected around $15 million in additional costs in 2018 and according to the company, the latest tariffs would raise costs further, declining to estimate by how much.
from NDTV CarAndBike - Latest News https://ift.tt/2tNni23
No comments:
Post a Comment