Hitting the brakes

Harley-Davidson shares skidded to their lowest price in more than a year on Thursday after the motorcycle maker announced a two-week suspension of vehicle assembly and most shipments, citing a regulatory compliance issue with one of its suppliers.

The decision was made “out of an abundance of caution” after the company received information from a supplier of one of its component parts, Harley-Davidson said. The company did not name the supplier or provide details on the part in question and said the suspension would not affect its LiveWire electric motorcycle.

The Milwaukee-based company was already struggling with supply issues, reporting in April that its profit was trimmed by rising costs and chip shortages, which hurt sales in North America.

Harley-Davidson shares have lost nearly one-third of their value in the past year.