Harley-Davidson, Inc. on May 5 reported first quarter 2026 results.
“We’re pleased with our first quarter results, which reflect actions we’ve taken to drive demand and improve dealer health. We saw a 14% increase in retail performance in North America, which drove global retail sales growth of 8%, and achieved a 22% year-over-year reduction in global dealer inventories, as we continue to prioritize aligning wholesale with retail demand. We are energized by the positive early reception to our new RIDE marketing platform, and excited to activate against our new growth strategy, Back to the Bricks,” said Artie Starrs, President and CEO, Harley-Davidson.
The first quarter 2026 highlights and results showed North American retail motorcycle sales of 23,803 units, up 14% vs. prior year. Global retail motorcycle sales were 33,507 units, up 8% vs. prior year. Global dealer inventory levels of new motorcycles ended Q1 ‘26 down 22% vs. end Q1 ‘25.
First quarter gross margin was down 3.9 points due to the cost of new or increased tariffs, the net effect of global pricing and sales incentives, and unfavorable product mix. These factors were partially offset by a favorable court judgement resulting in a tariff refund in the EU and favorable foreign currency. First quarter operating income margin was down 9.0 points due to the factors above, while operating expense was $49 million higher than a year ago, including restructuring expense of $15 million in the quarter.
