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$45 Million In Tariffs Hit Harley-Davidson — Is Retail Momentum Enough?

Harley-Davidson, Inc. reported its financial results for the first quarter of 2026 along with an updated strategic plan titled Back to the Bricks. The company demonstrated an 8% increase in global retail motorcycle sales compared to the prior year, driven primarily by a 14% increase in North American sales. U.S. retail sales grew 16%, while dealer inventory levels globally declined 22% year-over-year, signaling improved inventory management and alignment of shipments with retail demand. The company highlighted strength in its Touring and Trike models and noted early positive responses to its new marketing platform, RIDE. Despite growth in retail sales, consolidated revenue declined by 12%, chiefly due to a 54% drop in revenue at Harley-Davidson Financial Services (HDFS), reflecting a shift to a capital-light model following the sale of a significant portion of its retail loan book. Gross margin at Harley-Davidson Motor Company (HDMC) decreased to 25.3% from 29.