Harley-Davidson has reached an agreement with its exclusive dealer in Brazil, HDSP/Grupo Izzo, to open new dealers in the South American country.
continues to bolster its activities in the international marketplace with the announcement that it is expanding its dealer network in Brazil. An agreement has been reached with HDSP/Grupo Izzo, Harley’s exclusive Brazilian dealer, to bring new retailers into the fold according to a filing with the Securities and Exchange Commission. The Motor Company opened a commercial office in Sao Paulo recently and stated its goals are to enact a “subsidiary operating structure in Brazil” comparable to ones it has established in other markets. H-D has sold bikes in Brazil since 1993 and currently lists nine Brazilian dealers on its website.
It also has a factory in Manaus, Brazil that has been operating since 1999 where it assembles motorcycles for sale in the country.
The announcement sent Harley-Davidson shares up thee percent today, but costs associated with the Brazilian expansion is projected to reduce profits this quarter by five to six cents per share.