Harley-Davidson Financial Services saw a 14% uptick in its year-over-year origination volume in the third quarter, the company announced Tuesday.
The increase was mostly driven by a 9.6% increase in the company’s marketshare and an increased amount financed per motorcycle, John Olin, senior vice president and chief financial officer of Harley-Davidson Inc., said during an earnings call.
Overall, year-to-date originations were comprised of 80% prime loans and 20% subprime loans. “As a predominant lender to subprime customers, these originations represent a significant amount of retail sales to the company at very attractive returns, which further reinforces the competitive advantage that HDFS brings to the company,” Olin said. HDFS has previously said that subprime loans are the company’s “bread and butter” financing product, and HDFS feels comfortable with its credit risk.Like This Article