# Harley-Davidson, Inc > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/fi/companies/Harley-Davidson, Inc). ## Overview Harley-Davidson, Inc. is a U.S.-based motorcycle company built around the Harley-Davidson brand, which designs, manufactures, and sells heavyweight motorcycles, parts, accessories, apparel, and licensed products. It also operates Harley-Davidson Financial Services, which provides retail and wholesale financing, insurance, and related protection products to support motorcycle sales and dealer activity. ## Products & services • Harley-Davidson motorcycles • Motorcycle parts and accessories • Apparel and licensed merchandise • Harley-Davidson Financial Services (retail/wholesale finance) • Motorcycle insurance and protection products • LiveWire electric motorcycles - **Motorcycles** (80%) — Internal-combustion Harley-Davidson motorcycles and LiveWire electric motorcycles sold through dealers and distributors. - **Parts, Accessories and Apparel** (10%) — Replacement parts, customization accessories, riding gear, and branded apparel sold to owners and dealers. - **Financial Services** (10%) — Retail and wholesale financing, insurance, and voluntary protection products offered through HDFS. - Harley-Davidson motorcycles - Motorcycle parts and accessories - Apparel and licensed merchandise - Harley-Davidson Financial Services (retail/wholesale finance) - Motorcycle insurance and protection products - LiveWire electric motorcycles ## Customers The core customers are motorcycle riders and enthusiasts buying premium heavyweight bikes for personal use, touring, and brand identity. The company also sells through independent dealers, who buy inventory and rely on financing, floorplan support, and after-sales products to drive retail demand. HDFS serves retail borrowers, dealers, and insurance/protection customers in the U.S. and Canada. - **Retail motorcycle riders** (primary) — Buy Harley-Davidson and LiveWire motorcycles for personal transportation, touring, and lifestyle use. - **Independent dealers** (primary) — Purchase motorcycles, parts, and accessories for resale and depend on HDFS and brand pull to drive showroom traffic. - **Parts, accessories and apparel buyers** (secondary) — Existing owners and enthusiasts buy customization parts, riding gear, and branded apparel to personalize bikes and support the brand. - **HDFS retail finance customers** (secondary) — Consumers finance motorcycle purchases through HDFS, which supports affordability and conversion at the point of sale. - **HDFS wholesale and protection customers** (secondary) — Dealers and riders buy floorplan financing, insurance, and voluntary protection products to support inventory and ownership. - Retail motorcycle buyers seeking premium Harley-Davidson models - Dealers that stock bikes, parts, apparel, and service motorcycles - Riders buying customization parts, accessories, and branded apparel - Retail finance customers using HDFS to fund motorcycle purchases - Wholesale dealer finance and insurance customers in the U.S. and Canada ## Geography Harley-Davidson sells globally, with HDMC business across the United States, Canada, EMEA, Asia Pacific, and Latin America. Its dealer footprint is largest in the U.S. and Europe, and the company also uses independent distributors in select overseas markets, including India. HDFS is concentrated in the U.S. and Canada, where it provides financing and insurance tied directly to motorcycle sales. - **United States** (55%) — Largest market for motorcycles, dealers, and HDFS financing. - **Canada** (5%) — Important secondary market and HDFS geography. - **EMEA** (20%) — Includes Europe, Middle East and Africa; dealer footprint is broad in Europe. - **Asia Pacific** (15%) — Includes distributor-led markets, especially India. - **Latin America** (5%) — Smaller international market with dealer and distributor exposure. - U.S. is the largest market and the center of dealer and finance activity - Canada is a meaningful secondary market for both bikes and HDFS - EMEA is important for brand reach and dealer network scale - Asia Pacific includes distributor-led markets such as India - Latin America adds international exposure but is smaller than core regions ## Strategy Harley-Davidson's recent strategy focused on profitable core motorcycle segments, selective expansion into adjacent products and markets, and building the electric motorcycle business through LiveWire. The company also emphasized improving customer experience, growing beyond bikes through apparel and licensing, and using HDFS to support dealer and retail demand. A new strategic plan is expected after the conclusion of The Hardwire in 2025. - **Improve mix toward profitable motorcycle segments** (short-term) — Higher-margin models support brand strength and offset volume pressure. - **Scale LiveWire and electric mobility** (medium-term) — Electric motorcycles provide a growth option and broaden the brand's future relevance. - **Expand adjacent revenue streams** (medium-term) — Parts, accessories, apparel, licensing, and preowned programs deepen customer lifetime value. - **Optimize capital allocation and HDFS structure** (short-term) — Financing supports sales but must be managed to preserve returns and balance-sheet flexibility. - Focus on the most profitable motorcycle product segments - Expand selectively into new and existing products and markets - Develop LiveWire as the electric motorcycle platform - Grow complementary businesses like apparel, licensing, and preowned bikes - Use HDFS to support sales, dealer relations, and customer conversion ## Risks Harley-Davidson is exposed to cyclical demand, dealer inventory swings, and brand concentration because a large share of sales depends on premium discretionary purchases. The company also faces regulatory, tariff, supply-chain, weather, and product-liability risks, while HDFS adds credit and funding exposure tied to motorcycle financing. Electric motorcycle adoption and international market execution remain important uncertainties for future growth. - **Cyclical discretionary demand** [high] — Motorcycles are premium purchases that depend on consumer confidence and financing availability. - **Dealer dependence** [high] — The company relies on independent dealers to stock inventory, market bikes, and convert retail demand. - **Tariffs and international trade actions** [high] — Imported components and cross-border sales can face higher costs and demand disruption. - **HDFS credit and funding risk** [high] — Loan losses, servicing performance, and funding access affect financial services profitability. - **Product liability and recalls** [high] — Motorcycle defects or safety issues can trigger claims, recall costs, and reputational damage. - **Weather and seasonality** [medium] — Riding conditions influence showroom traffic and retail sales timing. - Discretionary demand can weaken in downturns and hurt motorcycle sales - Dealer inventory and retail traffic swings affect wholesale shipments - Tariffs, trade actions, and regulation can raise costs and disrupt sourcing - HDFS credit losses and funding costs can pressure earnings - Product liability, recalls, and weather can create volatile results ## Accounting The most important accounting judgments are in HDFS credit loss allowances, which depend on expected lifetime losses and recoveries across retail and wholesale receivables. The company also records recall liabilities, pension and postretirement obligations, and fair-value-based estimates that can move materially with assumptions. Revenue and margin comparability can also be affected by seasonality, dealer inventory actions, and financing-related transactions such as loan sales. - **Allowance for credit losses** — Affects finance income and balance-sheet reserves - **Recall and warranty accruals** — Can create material expense swings - **Pension and postretirement obligations** — Affects operating expense and other comprehensive income - **Fair value and financing transactions** — Can affect gains/losses, interest income, and leverage - Allowance for credit losses on retail and wholesale finance receivables - Recall liabilities and product warranty estimates - Pension and postretirement healthcare assumptions - Fair value and valuation judgments in HDFS and investments - Seasonality and dealer inventory timing affecting quarterly comparability --- *Last updated: 2026-09-24T11:41:56.802743+00:00*