Erik Buell Racing Files for Bankruptcy - The Road Ends for an American Legend
Snapshot: A rather sad end to the legendary American brand indeed!!
What is coming out as a shocking news for the Motorcycle Industry throughout the world, the legendary American Motorcycle manufacturer Erik Buell Racing has filed for Bankruptcy. This marks a rather sad end to a story which only till recently looked like jumping back to the big league.
In a statement given by Mr. Buell to Milwaukee Journal Sentinel, he said, "The turn we recently took, after we thought we were moving forward, was unexpected. We thought we had secured funding, but in the end, we were not able to get the funding in place. Therefore we need to do the best we can under the circumstances for all parties in interest. To say this setback is a disappointment does not begin to express what I feel right now. I am personally grateful for the support of our outstanding workers, customers and vendors. While this is a sad ending, I personally hope for a new and better beginning”.
However shocking the news has been for the industry and the market as such, but it can easily find its origins in the fact that Sales for the EBR 1190RX and EBR 1190SX street bikes never materialized over the last year, with dealerships offering steep discounts on the MSRP price to try and move the models. It is to be noted that some time ago Hero MotoCorp declared with much fanfare that they have joined hands with EBR as a technical tie-up and the Indian giant will be investing huge money into the American manufacturer for the same, it was decided that Hero would use EBR's existing dealer network to penetrate American market with its own products. From this news, it seems that Hero Motocorp had cut-off its money infuse to EBR, especially since Buell mentions funding in his statement.
With the sad closure of EBR, the dreams of American Superbike have vapourised for the American public.
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