Harley Davidson, the largest motorcycle manufacturer in the U.S. has reported a fourth-quarter net loss of $218.7 million (94 cents per share).The company’s first quarterly loss in the last 16 years also resulted in a end-of-year net loss of $55.1 million in 2009. Harley Davidson stocks crashed by 7.8 percent or $1.99 and ended at $23.59 on Friday in the NYSE composite trading.

“Even in an environment where consumers are more practical and cautious we believe that people still dream about the Harley-Davidson experience and everything we see indicates that the brand is as strong or stronger than ever both in the US and globally. We will continue to solidify our position and execute on our go-forward strategy including bringing exciting products to market like the 48 that we are introducing today and which like the other dark customer bikes is intended to reach new young, adult customers.” said current Harley Davidson CEO, Keith Wandell said on an optimistic note.

However, sales prediction for 2010 still seemed a little on the lower end of expectations, with a predicted 210,000 to 212,000 units expected to be sold. This will mark the lowest levels of production since 2000, down from the 349,196 units they managed to sell in 2006.

Keith Wandell also revealed that following the shutdown of the Buell Motorcyle division, Harley Davidson is now looking for potential buyers for its Italian-based MV Agusta lineup (which has also already shut down). He also revealed that in an effort to improve profitability, Harley Davidson will now introduce 12 new models in India, the country with the most motorcycle, and set up dealerships in Mumbai and New Delhi.