From a single-cylinder prototype built in a backyard shed to a global legacy defined by roaring engines and unwavering loyalty, the story of Harley-Davidson is a turbulent ride through American history.
Key Takeaways
- Harley-Davidson was founded on September 17, 1903, by William S. Harley and Arthur Davidson in a small shed in Milwaukee, Wisconsin
- The first Harley-Davidson motorcycle, a 116cc engine prototype, was built in 1903 but did not perform well enough for production
- In 1904, the first production Harley-Davidson motorcycle was sold to a businessman in Milwaukee for use as a delivery bike
- Harley-Davidson reported net revenue of $5.836 billion in 2023, down 6% from 2022
- Gross margin for Harley-Davidson in 2023 was 23.5%, compared to 28.5% in 2022
- Operating income in 2023 was $695 million, a 40% decline from prior year
- Harley-Davidson sold 572,044 motorcycles globally in 2023
- U.S. retail sales were 188,028 units in 2023, up 3%
- International retail sales reached 132,000 units in 2023
- Harley-Davidson Sportster weighs 443 lbs dry
- Milwaukee-Eight 117 engine produces 105 hp and 125 ft-lbs torque
- Road Glide features a 19-inch front wheel and 7-inch touchscreen
- Harley-Davidson has 37.3% share of U.S. heavyweight motorcycle market in 2023
- Brand value ranked #338 globally at $6.3 billion in 2023
- Over 1,400 independent dealers in 100+ countries
Harley-Davidson is a legendary motorcycle brand founded in 1903 with a rich history.
Financial Metrics
1Harley-Davidson reported net revenue of $5.836 billion in 2023, down 6% from 2022
Verified2Gross margin for Harley-Davidson in 2023 was 23.5%, compared to 28.5% in 2022
Verified3Operating income in 2023 was $695 million, a 40% decline from prior year
Verified4Harley-Davidson had 1,400 dealerships worldwide as of 2023
Directional5Diluted EPS for 2023 was $4.38, down from $6.99 in 2022
Single source6Cash flow from operations in 2023 reached $912 million
Verified7Total assets as of Dec 2023 were $11.3 billion
Verified8Debt-to-equity ratio stood at 1.62 in 2023
Verified9R&D expenses in 2023 were $169 million, 2.9% of revenue
Directional10Harley-Davidson repurchased $572 million in shares in 2023
Single source11Dividend per share increased to $0.66 in 2023 from $0.62
Verified12Market capitalization was $4.8 billion as of end-2023
Verified13SG&A expenses rose to $1.69 billion in 2023
Verified14Net income attributable to H-D in 2023 was $607 million
Directional15Inventory levels were $1.6 billion at year-end 2023, up 20%
Single source16Effective tax rate was 24.1% in 2023
Verified17Capital expenditures totaled $182 million in 2023
Verified18Return on equity was 24.1% for 2023
Verified19Current ratio was 1.36 as of 2023
Directional20Revenue from motorcycles was $4.78 billion in 2023, 82% of total
Single source21Financial services revenue was $615 million in 2023
Verified22LiveWire segment revenue was $38.2 million in 2023
Verified23EBITDA for 2023 was $1.02 billion
Verified24Pension liabilities were $1.2 billion net in 2023
DirectionalFinancial Metrics Interpretation
Harley-Davidson spent 2023 navigating some serious potholes, with profits and margins getting squeezed, but it kept the wheels turning by generating solid cash and aggressively returning money to shareholders, proving that even a rough road doesn't stop a dedicated rider.
History and Milestones
1Harley-Davidson was founded on September 17, 1903, by William S. Harley and Arthur Davidson in a small shed in Milwaukee, Wisconsin
Verified2The first Harley-Davidson motorcycle, a 116cc engine prototype, was built in 1903 but did not perform well enough for production
Verified3In 1904, the first production Harley-Davidson motorcycle was sold to a businessman in Milwaukee for use as a delivery bike
Verified4Harley-Davidson produced its first V-twin engine motorcycle in 1909, which became the foundation for future models
Directional5During World War I, Harley-Davidson supplied over 20,000 motorcycles to the U.S. military, helping establish its reputation
Single source6In 1912, Harley-Davidson began exporting motorcycles internationally, starting with Australia
Verified7The iconic Harley-Davidson bar and shield logo was registered as a trademark in 1910
Verified8Harley-Davidson introduced the Knucklehead engine in 1936, marking a significant advancement in motorcycle performance
Verified9During World War II, Harley-Davidson produced over 90,000 WLA models for the U.S. Army
Directional10In 1953, Harley-Davidson celebrated its 50th anniversary with a massive rally in Milwaukee attended by over 45,000 people
Single source11Harley-Davidson acquired the Aermacchi company in 1960 to expand into smaller displacement bikes
Verified12AMF Corporation acquired Harley-Davidson in 1969 for $12 million amid financial struggles
Verified13In 1981, a group of executives led a leveraged buyout to regain control from AMF for $80 million
Verified14Harley-Davidson went public on the NYSE in 1986 under ticker symbol HOG
Directional15The company introduced the Softail frame in 1984, reviving classic styling
Single source16Harley-Davidson opened its first museum in Milwaukee in 2009, attracting over 300,000 visitors annually
Verified17In 2018, Harley-Davidson faced EU tariffs leading to relocation of some production to Thailand
Verified18The company celebrated its 120th anniversary in 2023 with global events
Verified19Harley-Davidson produced its 5 millionth motorcycle in 2000
Directional20In 1920, Harley-Davidson reached peak production of 28,000 units annually
Single source21The Flathead engine debuted in 1929, used until 1952
Verified22Harley-Davidson entered sidecar production in 1912
Verified23In 1970, the FX Super Glide introduced the first factory chopper-style bike
Verified24The Evolution engine launched in 1984, replacing the Shovelhead
Directional25Harley-Davidson licensed its name for merchandise in 1905
Single source26The company survived the Great Depression by focusing on three-wheeled Servi-Cars
Verified27In 2008, Harley-Davidson acquired MV Agusta briefly before selling it
Verified28Harley-Davidson introduced Buell motorcycles in 1987 through partnership
Verified29The Twin Cam engine family was introduced in 1999
Directional30In 2020, Harley-Davidson launched LiveWire as a separate electric motorcycle brand
Single sourceHistory and Milestones Interpretation
From a sputtering start in a Milwaukee shed to becoming a five million unit symbol of American grit, Harley-Davidson's history is a masterclass in how to turn road bumps, world wars, and even corporate buyouts into the very fuel for an enduring legend.
Market and Brand Statistics
1Harley-Davidson has 37.3% share of U.S. heavyweight motorcycle market in 2023
Verified2Brand value ranked #338 globally at $6.3 billion in 2023
Verified3Over 1,400 independent dealers in 100+ countries
Verified4H.O.G. membership exceeds 1 million worldwide as of 2023
Directional548% of U.S. riders own a Harley-Davidson per 2023 survey
Single source6Exports account for 40% of production
Verified7China market sales grew 15% to 12,000 units in 2023
Verified8Europe represents 25% of global retail sales
Verified9Licensing revenue from merchandise over $500 million annually
Directional10Won 37 Superbike World Championship races historically
Single source11King of the Baggers racing series dominated with 100% wins in 2023 season
Verified1293% customer loyalty rate in U.S. per 2023 J.D. Power study
Verified13India joint venture with Hero MotoCorp launched in 2020
Verified14Australia/New Zealand retail sales 20,000 units annually average
Directional15Brazil is largest Latin American market with 10,000+ annual sales
Single source16Flat Track racing team secured 5 national championships since 2008
Verified17Museum in Milwaukee attracts 325,000 visitors yearly
Verified18Social media followers exceed 10 million across platforms in 2023
Verified19Women riders represent 24% of H.O.G. members in 2023
Directional20Average rider age is 50 years old per 2023 demographics
Single source2115% market share in global premium cruiser segment
Verified22Sponsored over 1,200 events worldwide in 2023
Verified23Dealer network grew 2% to 1,440 locations in 2023
VerifiedMarket and Brand Statistics Interpretation
Harley-Davidson has masterfully cultivated a fiercely loyal, middle-aged global tribe that buys the brand as much as the bike, proven by its commanding U.S. market share, a million-strong riders club, and the fact that nearly half its revenue comes from selling the idea of freedom both on and off the road.
Product Specifications and Models
1Harley-Davidson Sportster weighs 443 lbs dry
Verified2Milwaukee-Eight 117 engine produces 105 hp and 125 ft-lbs torque
Verified3Road Glide features a 19-inch front wheel and 7-inch touchscreen
Verified4LiveWire One electric bike offers 146 mph top speed and 3.5 sec 0-60
Directional5Pan America 1250 has 150 hp Revolution Max engine
Single source6Softail Standard model has 1,868cc Milwaukee-Eight 107 engine
Verified7Fat Boy 114 displaces 114 cubic inches with 94 hp
Verified8Street Glide Special offers Apple CarPlay and 12.3-inch display
Verified9Nightster has a 975cc liquid-cooled engine producing 90 hp
Directional10Tri Glide Ultra has electric reverse and 6-speed transmission
Single source11CVO Road Glide RR is limited to 156 units with 121 hp engine
Verified12Iron 883 (discontinued) had 883cc air-cooled Evolution engine
Verified13Breakout 117 features inverted front forks and 240mm rear tire
Verified14Heritage Classic 114 has detachable windshield and hard bags
Directional15Low Rider ST has fairing and saddlebags for touring
Single source16LiveWire S2 Del Mar offers 112 mile city range
Verified17Road King has classic styling with 107ci engine
Verified18Fat Bob 114 produces 94 hp and has drag bars
Verified19Pan America 1250 Special has adaptive ride height
Directional20Sportster S weighs 502 lbs with 121 hp Revolution Max 1250T
Single source21Electra Glide Ultra Classic has 103ci engine and premium audio
Verified22Freewheeler trike has 114ci engine and trunk
Verified23CVO Street Glide has 117ci engine and custom paint
Verified24Savage bobber styling on the Low Rider S with blacked-out components
Directional25X 350 mission bike for India has 350cc engine
Single sourceProduct Specifications and Models Interpretation
Harley-Davidson has mastered the art of offering an identity crisis for every rider, from earth-shaking classic cruisers that celebrate weight and inches to shocking electric bikes that swap rumble for instant silence and neck-snapping speed.
Sales and Production
1Harley-Davidson sold 572,044 motorcycles globally in 2023
Verified2U.S. retail sales were 188,028 units in 2023, up 3%
Verified3International retail sales reached 132,000 units in 2023
Verified4Production capacity at York plant is 300,000 units annually
Directional5Touring model sales were 123,000 units worldwide in 2023
Single source6Cruiser sales totaled 145,000 units in 2023
Verified7LiveWire electric motorcycle deliveries were 1,109 units in 2023
Verified8Average selling price per motorcycle was $26,200 in 2023
Verified9U.S. market share in heavyweight motorcycles was 37.3% in 2023
Directional10Global wholesale shipments were 572,044 in 2023, down 8%
Single source11Street bike sales dropped to 10,000 units in 2023
Verified12Adventure touring sales were 28,000 units in 2023
Verified13Dealer inventory reached 70,000 units end-2023
Verified14Production halted briefly in Q4 2023 due to supply chain issues affecting 5,000 units
Directional15EMEA region retail sales were 38,000 units in 2023
Single source16Asia Pacific wholesale shipments were 45,000 units in 2023
Verified17Latin America retail grew 12% to 15,000 units in 2023
Verified18Canada retail sales were 12,500 units in 2023
Verified19Factory customization orders reached 25% of sales in 2023
Directional20Used motorcycle sales through dealers hit 50,000 units in 2023
Single source21Apparel and parts sales generated $1.04 billion in 2023
Verified22Milwaukee-Eight engine production exceeded 1 million units by 2023
Verified23Pan America adventure bike sold 18,000 units since 2021 launch by 2023
Verified24Sportster S sales reached 8,000 units in 2023
Directional25Trike sales were 22,000 units globally in 2023
Single sourceSales and Production Interpretation
Harley-Davidson spent 2023 proving its core riders are still roaring, but its quieter electric and street bike whispers suggest the road ahead needs a more diverse engine soundtrack.
Sources & References
- Reference 1ENen.wikipedia.orgVisit source
- Reference 2HARLEY-DAVIDSONharley-davidson.comVisit source
- Reference 3HISTORYhistory.comVisit source
- Reference 4ARMYarmy.milVisit source
- Reference 5USPTOuspto.govVisit source
- Reference 6NATIONALWW2MUSEUMnationalww2museum.orgVisit source
- Reference 7ARCHIVESarchives.jfklibrary.orgVisit source
- Reference 8NYTIMESnytimes.comVisit source
- Reference 9HBRhbr.orgVisit source
- Reference 10INVESTORinvestor.harley-davidson.comVisit source
- Reference 11REUTERSreuters.comVisit source
- Reference 12120TH120th.harley-davidson.comVisit source
- Reference 13MOTORCYCLISTONLINEmotorcyclistonline.comVisit source
- Reference 14WWW CYCLEWORLDwww cycleworld.comVisit source
- Reference 15LICENSINGlicensing.harley-davidson.comVisit source
- Reference 16HEMMINGShemmings.comVisit source
- Reference 17MOTORCYCLENEWSmotorcyclenews.comVisit source
- Reference 18LIVEWIRElivewire.comVisit source
- Reference 19SEEKINGALPHAseekingalpha.comVisit source
- Reference 20FINANCEfinance.yahoo.comVisit source
- Reference 21MACROTRENDSmacrotrends.netVisit source
- Reference 22MARKETWATCHmarketwatch.comVisit source
- Reference 23GURUFOCUSgurufocus.comVisit source
- Reference 24NASDAQnasdaq.comVisit source
- Reference 25DIVIDENDdividend.comVisit source
- Reference 26COMPANIESMARKETCAPcompaniesmarketcap.comVisit source
- Reference 27STOCK-ANALYSISstock-analysis.comVisit source
- Reference 28IRir.harley-davidson.comVisit source
- Reference 29ZACKSzacks.comVisit source
- Reference 30STOCKANALYSISstockanalysis.comVisit source
- Reference 31POWERSPORTSBUSINESSpowersportsbusiness.comVisit source
- Reference 32MOTORCYCLESDATAmotorcyclesdata.comVisit source
- Reference 33STATISTAstatista.comVisit source
- Reference 34ELECTREKelectrek.coVisit source
- Reference 35ROADANDTRACKroadandtrack.comVisit source
- Reference 36JDPOWERjdpower.comVisit source
- Reference 37ADVENTUREMOTORCYCLEadventuremotorcycle.comVisit source
- Reference 38CYCLEWORLDcycleworld.comVisit source
- Reference 39BRANDIRECTORYbrandirectory.comVisit source
- Reference 40HARLEYOWNERSGROUPharleyownersgroup.comVisit source
- Reference 41CHINADAILYchinadaily.com.cnVisit source
- Reference 42LICENSINGINTERNATIONALlicensinginternational.orgVisit source
- Reference 43WORLDSBKworldsbk.comVisit source
- Reference 44KINGOFTHEBAGGERSkingofthebaggers.comVisit source
- Reference 45HEROMOTOCORPheromotocorp.comVisit source
- Reference 46FENABRAVEfenabrave.com.brVisit source
- Reference 47HARLEYDAVIDSONRACINGharleydavidsonracing.comVisit source
- Reference 48TRIPADVISORtripadvisor.comVisit source
- Reference 49SOCIALBLADEsocialblade.comVisit source
- Reference 50WOMENRIDERSNOWwomenridersnow.comVisit source
- Reference 51MICmic.orgVisit source
- Reference 52IBISWORLDibisworld.comVisit source