The Kansas City Business Journal reports:

In the wake of lower first-quarter earnings despite higher revenue compared with last year, Harley-Davidson Inc. said Thursday that it will temporarily close some plants, reduce daily production and cut about 730 jobs.

Forbes, BusinessWeek, and many other business journals are all reporting similar news. How will this affect the 2008 year sales, and what will this do to the 2009 model line-up?

Update July 17, 2008

Harley's net falls 23% in second quarter 2008:

Harley-Davidson Inc., the iconic motorcycle-maker struggling with a weak U.S. economy, said its second-quarter profits fell 23% amid a steep drop in domestic sales.

Shipments of motorcycles didn't fall as much as the company had forecast in the spring, however, and results were better than Wall Street analysts had expected.

[snip]
Shipments of motorcycles fell 15.6% to 80,326. The reduced volumes hurt the company's operating margin, which fell to 20.1% from 23.9% a year earlier.

In April, Harley-Davidson said it will significantly cut shipments of motorcycles to dealers and trim more than 700 jobs in response to a steep reduction in U.S. sales.

Harley-Davidson said then it plans to ship between 23,000 and 27,000 fewer motorcycles this year than in 2007, putting the total dealer deliveries in 2008 at no more than 307,500 units. The company maintained that forecast Thursday.
Source: Wall Street Journal, July 17, 2008