LiveWire Group, Inc. (NYSE:LVWR) Q1 2024 Earnings Conference Call April 25, 2024 9:00 AM ET

Company Participants

Shawn Collins - Director, Investor Relations
Jochen Zeitz - Chief Executive Officer
Jonathan Root - Chief Financial Officer
Karim Donnez - Chief Executive Officer, LiveWire

Conference Call Participants

Craig Kennison - Baird
Joe Altobello - Raymond James
Fred Wightman - Wolfe Research
Alex Perry - Bank of America
James Hardiman - Citi
Tristan Thomas-Martin - BMO Capital Markets
Noah Zatzkin - KeyBanc
Megan Alexander - Morgan Stanley
Jaime Katz - Morningstar

Operator

Thank you for standing by and welcome to the Harley-Davidson First Quarter 2024 Conference Call. Please be advised that today’s conference is being recorded. I would now like to turn the call over to Shawn Collins. Mr. Collins. Please go ahead.

Shawn Collins

Thank you. Good morning. This is Shawn Collins, the Director of Investor Relations at Harley-Davidson. You can access the slides supporting today’s call on the internet at the Harley-Davidson Investor Relations website.

As you might expect, our comments will include forward-looking statements that are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted in today’s earnings release and in our latest filings with the SEC. Joining me for this morning’s call are Harley-Davidson, Chief Executive Officer, Jochen Zeitz. Also Chief Financial Officer, Jonathan Root and we have LiveWire’s Chief Executive Officer, Karim Donnez.

With that, let me turn it over to our CEO, Jochen Zeitz. Jochen?

Jochen Zeitz

Thank you, Sean and good morning everyone. Thank you for joining us for our Q1 2024 results. Harley-Davidson delivered a good start to the year, in line with our expectations. Looking at retail for the quarter, we are pleased with our delivery of 6% growth in North America, our largest and most important region. In Q1, we continued to see the impact of the higher interest rate environment on both consumer confidence and affordability. However, it is positive to see customer enthusiasm for motorcycles despite this challenging environment.

Outside of North America, both the Europe and APAC regions were soft, mainly due to regional macroeconomic conditions. However, it is also worth noting that our ‘24 product only started to arrive in the international regions in March and is just now making its way into most international markets. And as the riding season is starting to get into gear, we are excited for our riders and fans, both inside and outside of North America to get to experience the next era of Harley-Davidson touring motorcycles.