Harley-Davidson, Inc. is more than just a motorcycle manufacturer—it’s a cultural icon that has defined the spirit of the open road for over a century. Known for its powerful Harley-Davidson motorcycles, the company has cultivated a loyal following of riders who see their bikes as an extension of their identity. From the rumble of a classic V-twin engine to the silent surge of electric motorcycles like LiveWire, Harley-Davidson blends tradition with innovation to deliver an unmatched riding experience.
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Company Profile
Harley-Davidson, Inc., headquartered at 3700 West Juneau Avenue, Milwaukee, Wisconsin, is a titan in the global motorcycle market. Founded in 1903 by William S. Harley and Arthur Davidson, the company has grown from a small workshop into a publicly traded entity listed on the New York Stock Exchange under the ticker “HOG.” Its mission—“More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul”—drives every Harley-Davidson motorcycle, part, and piece of apparel it produces. The company’s vision is equally ambitious: to be the most desirable motorcycle brand in the world, achieved through innovation, quality, and an unwavering connection with its riders.
Harley-Davidson operates through two primary divisions: the Harley-Davidson Motor Company (HDMC), which designs and manufactures motorcycles, and Harley-Davidson Financial Services (HDFS), which provides financing and insurance solutions. HDMC focuses on heavyweight motorcycles—those with engine displacements over 600cc—while also exploring electric and lightweight models to broaden its appeal. HDFS supports customers and dealers primarily in the U.S. and Canada, offering loans, extended service contracts, and insurance tailored to the riding lifestyle.
The company’s strategic framework, dubbed “The Hardwire” (2021–2025), outlines its goals: profitability in core segments, leadership in electric motorcycles, and growth in complementary businesses like apparel and licensing. This plan emphasizes selective expansion into high-potential markets, a commitment to sustainability through electric motorcycles, and an integrated customer experience that blends physical products with digital engagement. Harley-Davidson’s core values—integrity, innovation, and community—underpin its operations, ensuring that every product, from Harley-Davidson motorcycles to branded jackets, reflects its heritage and forward-thinking ethos.
With a workforce of approximately 5,800 employees (as of 2024) and a global network of dealers, Harley-Davidson remains a leader in the motorcycle industry. Its ability to balance its storied past with modern demands—like the rise of electric motorcycles—makes it a brand that resonates with both longtime riders and newcomers alike.
Business Segments
Harley-Davidson’s revenue streams are diverse, driven by the Harley-Davidson Motor Company (HDMC). In 2024, the revenue breakdown is as follows:
- Motorcycles: 76.1%
- Parts and Accessories: 15.8%
- Apparel: 5.8%
- Licensing: 0.6%
- Other Products and Services: 1.7%
Motorcycles
The motorcycle segment is Harley-Davidson’s lifeblood, encompassing a wide range of models designed for different riding styles and preferences. Heavyweight Harley-Davidson motorcycles, with engine displacements from 600cc to approximately 1900cc, dominate this category, offering power, durability, and iconic design. The lineup includes:
- Cruisers: Models like the Softail Slim and Fat Boy feature low seats, relaxed ergonomics, and classic styling, ideal for leisurely rides through urban streets or scenic highways. The Milwaukee-Eight engine powers these bikes, delivering robust torque and a signature rumble.
- Touring: Built for long-distance travel, bikes like the Road Glide and Electra Glide Ultra Limited boast advanced features such as infotainment systems with touchscreens, GPS navigation, and ample storage in saddlebags. These motorcycles cater to riders who crave comfort and reliability on cross-country journeys.
- Sport: The Sportster line, including the Iron 1200, offers lightweight frames and nimble handling, appealing to riders who prioritize agility and speed. These bikes are perfect for urban environments or spirited weekend rides.
- Adventure Touring: The Pan America 1250, launched in 2021, marks Harley-Davidson’s entry into off-road territory. With adaptive ride height, all-terrain tires, and a liquid-cooled Revolution Max engine, it’s designed for rugged exploration.
- Electric: The LiveWire ONE, part of the standalone LiveWire brand, delivers zero-emission riding with instant torque and cutting-edge technology. It targets eco-conscious riders and tech enthusiasts, offering a quiet yet thrilling alternative to traditional Harley-Davidson motorcycles.
- Lightweight: In select markets like Asia, Harley-Davidson offers smaller-displacement bikes (e.g., 350cc models in partnership with Qianjiang Motorcycle Co.), making the brand accessible to new riders.
This segment’s diversity ensures Harley-Davidson meets the needs of a broad audience, from hardcore enthusiasts to beginners.
Parts and Accessories
Harley-Davidson’s parts and accessories segment is a vital revenue driver, offering genuine Harley-Davidson parts for maintenance and upgrades, alongside accessories for customization. Riders can enhance their motorcycles with:
- Performance Upgrades: High-flow air intakes, Screamin’ Eagle exhausts, and engine tuning kits boost horsepower and efficiency, catering to riders who demand peak performance.
- Customization Options: From leather seats and custom grips to chrome accents and LED lighting, these accessories allow riders to personalize their bikes, reflecting their unique style.
- Maintenance Essentials: Brake pads, oil filters, and batteries ensure motorcycles stay road-ready, with quality that matches Harley-Davidson’s rigorous standards.
This segment thrives on the brand’s culture of individuality, with over 10,000 parts and accessories available through dealerships and online platforms.
Apparel
Harley-Davidson’s apparel line extends the brand beyond motorcycles, offering riding gear and casual clothing that embody its lifestyle. Categories include:
- Riding Gear: Leather jackets, full-face helmets, gloves, and boots are engineered for safety and comfort, featuring abrasion-resistant materials and ventilation for all-season riding.
- Casual Wear: T-shirts, hoodies, and caps adorned with the Harley-Davidson logo let fans showcase their allegiance off the bike. Limited-edition designs tied to events like Sturgis Motorcycle Rally add exclusivity.
In 2024, apparel sales grew by 8%, driven by demand for functional yet stylish gear that reinforces Harley-Davidson’s community spirit.
Licensing
The licensing segment generates revenue by lending the Harley-Davidson name to third-party products, amplifying brand visibility. Examples include:
- Toys and Collectibles: Die-cast motorcycle models and LEGO sets appeal to collectors and younger fans.
- Home Goods: Branded barware, furniture, and decor bring Harley-Davidson’s rugged aesthetic into homes.
- Apparel Partnerships: Collaborations with fashion brands create unique clothing lines, expanding the brand’s reach.
Though a small revenue contributor, licensing strengthens Harley-Davidson’s cultural footprint.
Other Products and Services
This segment encompasses rider training, events, and miscellaneous offerings that deepen engagement:
- Riding Academy: A training program teaching skills to new and seasoned riders, available at over 200 U.S. dealerships, with courses ranging from basic to advanced.
- HOG Rallies: The Harley Owners Group (HOG) hosts events like the annual Sturgis rally, drawing thousands of riders for rides, concerts, and camaraderie.
- Rentals and Tours: Harley-Davidson Authorized Rentals and guided tours let riders experience the brand in destinations like the American Southwest.
These services reinforce Harley-Davidson’s commitment to its community, fostering loyalty and passion.
Products and Services
Harley-Davidson’s ecosystem revolves around its motorcycles but extends to a comprehensive array of products and services that elevate the riding experience.
Motorcycles
Harley-Davidson motorcycles are the heart of the brand, offering six categories tailored to diverse rider needs:
- Cruiser: The Softail Heritage Classic combines retro styling with modern tech, featuring a 114 cubic-inch Milwaukee-Eight engine and a low center of gravity for easy handling.
- Touring: The Street Glide Special offers a Boom! Box GTS infotainment system, Reflex Linked Brembo brakes, and a stretched saddlebag design, perfect for cross-country trips.
- Sport: The Sportster S, with its Revolution Max 1250T engine, delivers 121 horsepower and a forward-leaning stance for aggressive riding.
- Adventure Touring: The Pan America 1250 Special includes adjustable suspension, skid plates, and multiple ride modes (e.g., Off-Road Plus), tackling trails and highways alike.
- Electric: The LiveWire ONE achieves 0-60 mph in 3 seconds, with a range of 146 miles in city conditions, supported by DC fast-charging capabilities.
- Lightweight: Models like the X350 (sold in China) feature a 353cc engine, offering an entry-level option with Harley-Davidson’s signature quality.
Each model is customizable, ensuring riders can craft a motorcycle that’s uniquely theirs.
Parts and Accessories
Harley-Davidson parts and accessories empower riders to maintain and personalize their bikes:
- Engines and Exhausts: The Screamin’ Eagle Stage IV kit boosts displacement to 131 cubic inches, delivering top-tier power for enthusiasts.
- Seats and Handlebars: Options range from heated seats for cold-weather riding to ape-hanger handlebars for a bold, upright posture.
- Tech Upgrades: Bluetooth-enabled gauges and LED headlamps enhance functionality and visibility.
With a catalog spanning thousands of items, this segment supports Harley-Davidson’s customization culture, driving both performance and aesthetics.
Apparel
Harley-Davidson’s apparel blends practicality with style:
- Riding Gear: The FXRG Triple Vent System jacket offers waterproofing, ventilation, and armor pockets, while modular helmets provide versatility for changing conditions.
- Casual Wear: Graphic tees with slogans like “Live to Ride” and vintage-inspired leather vests connect fans to the brand’s heritage.
Available online and at dealerships, apparel strengthens Harley-Davidson’s identity as a lifestyle brand.
Services
Harley-Davidson’s services enhance ownership:
- Financing: HDFS offers competitive loans with terms up to 84 months, plus gap insurance and theft protection.
- Rider Training: The Riding Academy’s New Rider Course includes classroom instruction and hands-on practice, graduating over 20,000 riders annually.
- Events: HOG rallies and dealer open houses create a vibrant community, with 2024 events planned in Europe, Asia, and the U.S.
These services ensure riders feel supported at every stage of their journey.
Company History
Harley-Davidson’s 120-year history is a saga of innovation, resilience, and cultural impact. Here’s a detailed timeline:
1903–1919: Foundations
- 1903: William S. Harley and Arthur Davidson build their first motorcycle in a 10×15-foot shed, a single-cylinder machine with a leather belt drive.
- 1907: The company incorporates, with Walter Davidson as president. The V-twin engine debuts in 1909, doubling power and setting a new standard.
- 1910s: By 1917, Harley-Davidson supplies over 20,000 motorcycles to the U.S. Army for World War I, proving its reliability.
1920s–1930s: Growth and Grit
- 1920: Harley-Davidson becomes the world’s largest motorcycle maker, with dealers in 67 countries.
- 1936: The Knucklehead engine introduces overhead valves, boosting performance and cementing Harley-Davidson’s engineering reputation amid the Great Depression.
1940s–1950s: War and Rebellion
- 1941–1945: Over 90,000 WLA models support Allied forces in WWII, earning Harley-Davidson Army-Navy “E” Awards for excellence.
- 1957: The Sportster debuts, sparking a youth movement and cementing Harley-Davidson’s role in 1950s counterculture.
1960s–1970s: Challenges and Choppers
- 1965: The Electra Glide introduces electric start, blending innovation with touring comfort.
- 1969: AMF acquires Harley-Davidson, boosting production but straining quality, leading to a turbulent decade.
1980s–1990s: Revival
- 1981: A management buyback restores independence, with the Evolution engine (1984) revitalizing quality and performance.
- 1990: The Fat Boy, featured in Terminator 2, becomes a cultural icon, driving global expansion.
2000s–2010s: Modernization
- 2001: The V-Rod, with Porsche-engineered tech, targets a new audience with sleek design and liquid cooling.
- 2014: The Street 750 introduces lightweight bikes for urban riders, while Project Rushmore refines touring models.
2020s: Future Forward
- 2021: The Pan America and LiveWire ONE launch, signaling Harley-Davidson’s pivot to adventure and electric markets under “The Hardwire” strategy.
From its Milwaukee roots to its global stature, Harley-Davidson’s history reflects adaptability and an enduring bond with riders.
Brands
Harley-Davidson’s portfolio includes three brands:
- Harley-Davidson: The core brand, offering heavyweight cruisers, tourers, and sport bikes. It targets riders who value power, heritage, and customization, with models like the Street Bob appealing to purists.
- LiveWire: A standalone electric motorcycle brand, LiveWire’s ONE model delivers 105 horsepower and a futuristic design, aimed at urban riders and sustainability advocates.
- StaCyc: Electric balance bikes for kids aged 3–7, StaCyc introduces the next generation to riding, with adjustable speeds and lightweight frames.
These brands diversify Harley-Davidson’s appeal, spanning traditionalists, innovators, and families.
Geographical Presence
Harley-Davidson operates in over 100 countries, with tailored strategies for each region:
- United States: The largest market, with over 600 dealerships and a 40% share of the heavyweight motorcycle segment.
- Canada: Strong sales in touring models, supported by a network of 70+ dealers.
- EMEA: Europe drives 20% of global revenue, with Germany and the UK leading demand for sport and adventure bikes.
- Asia Pacific: Japan and Australia favor cruisers, while India and China see growth in lightweight models.
- Latin America: Brazil and Mexico are key, with expanding dealer networks boosting sales.
Harley-Davidson’s global adaptability ensures it thrives across diverse riding cultures.
Financial Performance
Income Statement (2024)
| Item | Amount ($M) |
|---|---|
| Revenue | 5,800 |
| Cost of Goods Sold | 3,480 |
| Gross Profit | 2,320 |
| Operating Expenses | 1,160 |
| Operating Income | 1,160 |
| Net Income | 870 |
Balance Sheet (2024)
| Assets | Amount ($M) |
|---|---|
| Current Assets | 2,500 |
| Total Assets | 10,000 |
| Liabilities & Equity | Amount ($M) |
|---|---|
| Current Liabilities | 1,500 |
| Total Liabilities | 6,000 |
| Shareholders’ Equity | 4,000 |
Cash Flow (2024)
| Cash Flows | Amount ($M) |
|---|---|
| Operating Activities | 1,200 |
| Investing Activities | (500) |
| Financing Activities | (300) |
| Net Increase in Cash | 400 |
In 2024, Harley-Davidson’s $5.8 billion revenue reflects strong motorcycle sales, with a 40% gross margin and $870 million net income signaling robust profitability.
Subsidiaries
- Harley-Davidson Motor Company, Inc.: Designs and builds all motorcycles, based in Milwaukee.
- Harley-Davidson Financial Services, Inc.: Offers loans and insurance, headquartered in Chicago.
- LiveWire EV, LLC: Manages electric motorcycle production, based in California.
- Harley-Davidson Europe Ltd.: Oversees EMEA operations from the UK.
These subsidiaries streamline Harley-Davidson’s global operations.
Physical Properties
- Headquarters: Milwaukee, WI (110,000 sq ft office space).
- York, PA Plant: 1 million sq ft, producing 150,000 bikes annually.
- Tomahawk, WI: 277,000 sq ft, crafting composite parts.
- Kansas City, MO: 450,000 sq ft, focused on Sportster production.
These facilities anchor Harley-Davidson’s manufacturing prowess.
Founders
- William S. Harley: Engineer behind the V-twin, died 1943.
- Arthur Davidson: Sales visionary, died 1948.
- Walter Davidson: First president, died 1942.
- William A. Davidson: Production expert, died 1937.
Their legacy fuels Harley-Davidson’s enduring success.
Board of Directors
- Jochen Zeitz: CEO since 2020, sustainability pioneer.
- Maryrose Sylvester: Tech and manufacturing expert.
- Allan Golston: Finance specialist.
The board guides Harley-Davidson’s strategic direction.
Shareholding Details
Major shareholders include Vanguard Group (10%) and BlackRock (8%), with institutional ownership at 85%.
Parent Company
Harley-Davidson, Inc. is the top entity, with no external parent.
Investments
Recent investments include $100 million in LiveWire R&D and $50 million in digital platforms for e-commerce and HOG engagement.
Future Investment Plan
“The Hardwire” targets $500 million by 2025 for electric bikes, adventure touring expansion, and digital enhancements, ensuring Harley-Davidson’s leadership in a changing market.
Conclusion
Harley-Davidson’s blend of heritage and innovation—from roaring Harley-Davidson motorcycles to silent electric models—defines its legacy. As it rides into the future, the brand remains a beacon of freedom, craftsmanship, and community.
