LiveWire Group, Inc. (LVWR) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

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 Denez. With that, let me turn it over to our CEO, Jochen Zeitz. Jochen? Thank you, Sean. Good morning, everyone, and thank you for joining today's call. In the fourth year of our hardwired strategy, we saw our performance being significantly impacted by continued cyclical headwinds for discretionary products, including the high interest rate and environment affecting consumer confidence and creating affordability issues for our customers. While we were unable to achieve our original guidance for 24, given the overall environment, we continued to make progress in the execution of the key elements of our strategic plan, that we believe will set the business up best for future profitable growth when the market turns. That said, in the fourth quarter, the macro environment contributed to a decline of 15% in global retail sales, our seasonally lowest quarter of the year, with North America posting a 13% decline, and our other international regions declining a combined 17%. For the full year, we ended 24, with a global retail sales decline of 7%. In the face of industry headwinds, the launch of our new model year 24 street glide and road glide touring motorcycles contributed to near 5% growth...