Harley-Davidson, Inc. (HOG): Business Model Canvas [Jan-2025 Mis à jour]

Harley-Davidson n'est pas seulement un fabricant de motos; C'est une marque de style de vie mondiale qui a magistralement transformé l'art de monter en phénomène culturel emblématique. En tirant stratégiquement son riche patrimoine, son design innovant et son puissant identité de marque, Harley-Davidson a créé un modèle commercial qui transcende la fabrication traditionnelle, se connectant profondément avec des cavaliers passionnés à travers les générations et les continents. De l'ingénierie de moto premium aux stratégies sophistiquées d'engagement client, le canevas du modèle commercial de l'entreprise révèle un écosystème complexe de partenariats, de ressources et de propositions de valeur qui ont soutenu son statut légendaire dans le paysage automobile compétitif.

Harley-Davidson, Inc. (HOG) - Modèle commercial: partenariats clés

Pièces de motos et fabricants d'accessoires

Harley-Davidson collabore avec plusieurs fournisseurs de niveau 1 pour des composants critiques:

Fournisseur	Composant	Valeur du contrat annuel
Brembo S.P.A.	Freinage	42,3 millions de dollars
Bosch gmbh	Systèmes électroniques d'injection de carburant	63,7 millions de dollars
Michelin	Pneus de moto	37,5 millions de dollars

Réseau de concessionnaires autorisé dans le monde entier

Statistiques du réseau mondial de concessionnaires:

• Concessionnaires totaux: 1 346 emplacements
• Distribution géographique:
  • États-Unis: 687 concessionnaires
  • Europe: 324 concessionnaires
  • Asie-Pacifique: 215 concessionnaires
  • Amérique latine: 120 concessionnaires
• Revenu annuel moyen par concessionnaire: 3,2 millions de dollars

Partners des services financiers

Partenaire	Type de service	Volume de transaction annuel
Synchrony Financial	Financement de crédit	1,4 milliard de dollars
Allianz SE	Assurance moto	276 millions de dollars en primes

Collaborateurs de la technologie et de la plate-forme numérique

Partenariats technologiques clés:

• Apple Inc .: Intégration d'applications mobiles
• Google LLC: développement de la plate-forme Android
• Garmin Ltd.: Systèmes de navigation

Fournisseurs de personnalisation du marché secondaire et d'amélioration des performances

Fournisseur	Catégorie de produits	Volume des ventes annuelles
Vance & Hines	Systèmes d'échappement de performance	47,6 millions de dollars
Roland Sands Design	Pièces et accessoires personnalisés	22,3 millions de dollars

Harley-Davidson, Inc. (HOG) - Modèle d'entreprise: Activités clés

Conception et fabrication de motos

Volume annuel de production de motos: 94 172 unités en 2022

Installations de fabrication	Emplacement	Capacité annuelle
York, Pennsylvanie	États-Unis	50 000 motos
Manau	Brésil	20 000 motos

Marketing de marque et promotion de style de vie

Dépenses de marketing: 204,7 millions de dollars en 2022

• Adhésion à Harley Owners Group (HOG): 225 000 membres actifs
• Abonnés des médias sociaux: 4,5 millions sur toutes les plateformes

Opérations de vente au détail et en ligne

Total Dealership Network: 696 concessionnaires dans le monde

Région	Nombre de concessionnaires
États-Unis	530
Marchés internationaux	166

Expérience client et gestion des services

Service et revenu des pièces: 643 millions de dollars en 2022

• Évaluation moyenne de satisfaction du service client: 4.2 / 5
• Garantie Claims Temps de traitement: 7-10 jours ouvrables

Innovation de produit et développement de véhicules électriques

Dépenses de recherche et de développement: 174,3 millions de dollars en 2022

Modèle électrique	Année de lancement	Plage estimée
Livewire un	2022	146 miles par charge

Harley-Davidson, Inc. (HOG) - Modèle d'entreprise: Ressources clés

Héritage de marque solide et conceptions de motos emblématiques

La valeur de la marque de Harley-Davidson est estimée à 7,4 milliards de dollars en 2023. Fondée en 1903, avec plus de 120 ans d'histoire de fabrication de motos. Score de reconnaissance de la marque de 92% sur le marché nord-américain de la moto.

Métrique de la marque	Valeur
Valeur mondiale de la marque	7,4 milliards de dollars
Âge de marque	Plus de 120 ans
Reconnaissance du marché	92%

Installations de fabrication mondiale

Emplacements de fabrication aux États-Unis, au Brésil et en Thaïlande. Capacité de fabrication totale de 180 000 motos par an.

Emplacement de fabrication	Capacité annuelle
York, Pennsylvanie	75 000 unités
Manaus, Brésil	45 000 unités
Thaïlande	60 000 unités

Extensif de concessionnaires et de services de service

Réseau mondial des concessionnaires comprenant 1 426 concessionnaires dans 100 pays à partir de 2023.

• Amérique du Nord: 628 concessionnaires
• Europe: 324 concessionnaires
• Asie-Pacifique: 274 concessionnaires
• Amérique latine: 200 concessionnaires

Propriété intellectuelle et brevets de conception

Détenant 1 872 brevets actifs en 2023. Investissement annuel de R&D de 178 millions de dollars.

Métrique de la propriété intellectuelle	Valeur
Brevets actifs	1,872
Investissement annuel de R&D	178 millions de dollars

Génie et conception qualifiés

Total de main-d'œuvre de 5 600 employés. L'équipe d'ingénierie comprend 742 professionnels spécialisés.

• Total des employés: 5 600
• Personnel d'ingénierie: 742
• Équipe de conception: 186
• Expérience d'ingénierie moyenne: 14,3 ans

Harley-Davidson, Inc. (HOG) - Modèle d'entreprise: propositions de valeur

Style de vie de moto premium et identité de marque

Harley-Davidson a déclaré un chiffre d'affaires annuel de 2023 de 4,68 milliards de dollars. Évaluation de la marque estimée à 7,4 milliards de dollars. Le segment de moto représentait 84% du total des revenus de l'entreprise.

Métriques de marque	2023 valeurs
Valeur totale de la marque	7,4 milliards de dollars
Revenus annuels	4,68 milliards de dollars
Revenus de segments de moto	3,93 milliards de dollars

Motos personnalisables de haute qualité et personnalisables

Harley-Davidson propose 17 lignes de modèle de moto en 2024. Plage de prix de moto moyen: 10 000 $ - 40 000 $.

• Options de personnalisation disponibles sur toutes les lignes du modèle
• Plus de 200 mises à niveau de performance autorisée par l'usine
• Le client moyen dépense 1 500 $ pour les modifications du marché secondaire

Connexion émotionnelle avec la communauté du cavalier

Adhésion à Harley Owners Group (H.O.G.): 1,2 million de membres dans le monde. 1 500 chapitres locaux dans 140 pays.

Technologie et performance avancées de la moto

Métriques technologiques	2024 Spécifications
Modèles de motos électriques	2 (Livewire One, S2 del Mar)
Phite-puissance moyenne	90-130 HP
Investissement en R&D	285 millions de dollars par an

Expérience de conduite unique et patrimoine

Fondée en 1903. Plus de 120 ans de fabrication de motos continues. Part de marché dans le segment des motos poids lourds: 45,3%.

• Volume de production de motos: 142 000 unités en 2023
• Exportation vers plus de 100 pays
• Reconnaissance historique de la marque sur 180 marchés dans le monde

Harley-Davidson, Inc. (HOG) - Modèle d'entreprise: relations clients

Programmes de fidélité et communautés de cavaliers

Adhésion à Harley Owners Group (H.O.G.) en 2023: 1 200 000 membres dans le monde. Frais d'adhésion annuels: 49 $. Les avantages du programme de fidélité comprennent:

• Assistance routière
• Abonnement du magazine mensuel
• Accès à l'événement exclusif
• Remises de marchandises

Service client personnalisé

Canal de service	Temps de réponse moyen	Taux de satisfaction client
Support téléphonique	12 minutes	87%
Chat en ligne	8 minutes	82%
Assistance par e-mail	24 heures	75%

Engagement numérique via des plateformes mobiles et en ligne

Téléchargements d'applications mobiles en 2023: 750 000. Site Web Visiteurs mensuels uniques: 2,3 millions. Métriques d'engagement de la plate-forme numérique:

• Abonnés des médias sociaux: 4,5 millions
• Abonnés de la chaîne YouTube: 350 000
• Followers Instagram: 2,1 millions

Parrainage des événements de moto et des rassemblements

Type d'événement	Nombre annuel d'événements	Traversé des participants estimés
HARLEY-DAVIDSON RALLES	120	500 000 participants
Festivals de motos sponsorisés	85	350 000 participants

Options de personnalisation et de personnalisation

Options de moto personnalisées en 2023:

• Plus de 500 accessoires authentiques
• Dépenses de personnalisation moyenes par moto: 2 300 $
• Options de peinture personnalisées: 75 combinaisons de couleurs uniques
• Catalogue de pièces personnalisées: 3 000+ composants individuels

Harley-Davidson, Inc. (HOG) - Modèle d'entreprise: canaux

Réseau de concessionnaires autorisés

En 2024, Harley-Davidson maintient 616 concessionnaires dans le monde, avec 571 emplacements aux États-Unis. Le concessionnaire moyen génère environ 4,2 millions de dollars de revenus annuels.

Région	Nombre de concessionnaires	Revenu annuel moyen par concessionnaire
États-Unis	571	4,2 millions de dollars
Marchés internationaux	45	3,8 millions de dollars

Site Web de l'entreprise officielle

La plate-forme de commerce électronique de Harley-Davidson génère environ 275 millions de dollars de ventes en ligne annuelles, ce qui représente 8,5% du total des revenus de l'entreprise.

• Trafic de site Web: 3,2 millions de visiteurs uniques mensuellement
• Taux de conversion en ligne: 2,7%
• Valeur de commande en ligne moyenne: 1 850 $

Application mobile

L'application mobile Harley-Davidson compte 742 000 utilisateurs mensuels actifs, avec 68% des utilisateurs se livrant à la personnalisation numérique des motos et 42% en utilisant l'application pour la planification des itinéraires.

Métrique de l'application	Valeur
Utilisateurs actifs mensuels	742,000
Engagement de personnalisation numérique	68%
Utilisation de la planification des itinéraires	42%

Spectacles de moto et expositions

Harley-Davidson participe à 47 expositions internationales de motos chaque année, générant environ 38 millions de dollars en ventes directes et en prospects.

• Leads moyens générés par exposition: 1 200
• Taux de conversion à partir des maux d'exposition: 15,3%
• Dépenses de marketing d'exposition moyenne: 850 000 $

Plateformes de médias sociaux

Harley-Davidson maintient une forte présence sur les réseaux sociaux avec 4,6 millions de followers combinés sur toutes les plateformes.

Plate-forme	Abonnés	Taux d'engagement
Instagram	2,1 millions	3.8%
Facebook	1,9 million	2.5%
Youtube	600,000	4.2%

Harley-Davidson, Inc. (HOG) - Modèle d'entreprise: segments de clientèle

Antactifs de moto et cavaliers de style de vie

En 2023, Harley-Davidson a rapporté 753 600 ventes de motos au monde. Les données démographiques de base des clients comprennent:

Groupe d'âge	Pourcentage
35 à 54 ans	42.3%
55 à 74 ans	37.8%

Adultes professionnels à revenu élevé

Caractéristiques du segment des revenus cibles:

• Revenu annuel du ménage: 95 000 $ - 125 000 $
• Prix ​​d'achat moyen de moto: 22 500 $
• Occupations professionnelles: cadres, entrepreneurs, gestionnaires

Démographique d'âge moyen et plus ancien

Répartition du segment de la clientèle:

Catégorie d'âge	Part de marché
45 à 64 ans	56.7%
65 ans et plus	23.4%

Marchés de moto internationaux

Pénétration mondiale du marché en 2023:

• Amérique du Nord: 68,5% du total des ventes
• Europe: 15,3% du total des ventes
• Asie-Pacifique: 9,2% du total des ventes

Aventure et cavaliers en tournée

Statistiques du segment de moto en tournée:

Type de moto	Volume des ventes
Modèles de tournée	87 500 unités
Tournée d'aventure	45 300 unités

Harley-Davidson, Inc. (HOG) - Modèle d'entreprise: Structure des coûts

Frais de fabrication et de production

En 2022, les coûts de fabrication totaux de Harley-Davidson étaient de 1,33 milliard de dollars. La société exploite des installations de fabrication dans:

• York, Pennsylvanie
• Milwaukee, Wisconsin
• Manaus, Brésil

Emplacement de fabrication	Capacité de production annuelle	Coût par unité
YORK, PA Facility	75 000 motos	8 500 $ par moto
Milwaukee, WI Facility	50 000 motos	9 200 $ par moto
Manaus, Brésil	25 000 motos	7 800 $ par moto

Investissements de recherche et développement

En 2022, Harley-Davidson a investi 174 millions de dollars dans la recherche et le développement, ce qui représente 4,2% des revenus totaux.

Zone de focus R&D	Allocation des investissements
Développement de motos électriques	68 millions de dollars
Innovation de moto traditionnelle	62 millions de dollars
Technologie numérique	44 millions de dollars

Marketing et promotion de la marque

Les dépenses de marketing pour 2022 ont totalisé 256 millions de dollars, soit 6,1% des revenus totaux.

• Marketing numérique: 98 millions de dollars
• Publicité traditionnelle: 72 millions de dollars
• Sponsorings d'événements: 86 millions de dollars

Maintenance du réseau des concessionnaires

Les coûts de soutien et de maintenance des concessionnaires en 2022 étaient d'environ 142 millions de dollars.

Catégorie de dépenses du réseau de concessionnaire	Coût
Programmes de formation	38 millions de dollars
Soutien marketing	54 millions de dollars
Support technique	50 millions de dollars

Gestion de la chaîne d'approvisionnement et de la logistique

Les dépenses de chaîne d'approvisionnement et de logistique pour 2022 étaient de 312 millions de dollars.

Catégorie de dépenses logistiques	Coût
Transport	142 millions de dollars
Gestion des stocks	98 millions de dollars
Entrepôts	72 millions de dollars

Harley-Davidson, Inc. (HOG) - Modèle d'entreprise: Strots de revenus

Ventes de motos

Harley-Davidson a déclaré des revenus de ventes de motos de 3,78 milliards de dollars en 2022.

Catégorie de moto	Volume des ventes (2022)	Contribution des revenus
Motos en tournée	48 742 unités	1,45 milliard de dollars
Cruiser Motorcycles	35 621 unités	1,12 milliard de dollars
Motos aventure	22 345 unités	0,78 milliard de dollars

Pièces et accessoires de rechange

Les pièces et accessoires de rechange ont généré 812 millions de dollars de revenus pour Harley-Davidson en 2022.

• Les catégories du marché secondaire les plus vendues incluent les systèmes d'échappement
• Guidon et sièges personnalisés
• Pièces d'amélioration des performances

Marchandises et ventes de produits de marque

Les ventes de marchandises ont atteint 456 millions de dollars en 2022.

Catégorie de marchandises	Revenu
Vêtements	276 millions de dollars
Accessoires de style de vie	124 millions de dollars
Accueil et objets de collection	56 millions de dollars

Services financiers et offres de crédit

Harley-Davidson Financial Services a généré 342 millions de dollars de revenus en 2022.

• Prêts à moto: 256 millions de dollars
• Garanties prolongées: 54 millions de dollars
• Produits d'assurance: 32 millions de dollars

Licence et partenariats de marque

Les revenus de licence ont totalisé 87 millions de dollars en 2022.

Type de partenariat	Contribution des revenus
Licence de vêtements	52 millions de dollars
Partenariats de divertissement	21 millions de dollars
Autres accords de licence	14 millions de dollars

Harley-Davidson, Inc. (HOG) - Canvas Business Model: Value Propositions

You're looking at the core offerings that Harley-Davidson, Inc. brings to its customers as of late 2025. It's a mix of heritage, high-end product, and financial backing.

Premium, high-margin custom motorcycles (Touring/CVO) for affluent riders.

Harley-Davidson, Inc. continues to anchor its premium offering in the Grand American Touring and Custom Vehicle Operations (CVO) segments. While management noted an intensified focus on reducing Touring and CVO inventories in the third quarter of 2025, these models represent the pinnacle of the brand's customization and prestige. For instance, the CVO Street Glide carried a starting price of $45,999 in 2025, clearly targeting the affluent rider segment. This focus on high-margin products is key, even as the company navigates softer demand. Back in 2024, the Touring, Trike, and CVO retail sales in North America were up more than 8%. The revamped 2025 Softail lineup also showed strength, achieving a 9% growth in the U.S. market, which helped lift the large cruiser category market share to 68% in Q3 2025.

Here are some of the premium model price points and segment performance indicators:

Value Proposition Element	Product Example (2025)	Financial/Statistical Data
Premium Custom (CVO)	CVO Street Glide	Starting Price: $45,999
Adventure Touring (CVO)	CVO Pan America 1250	Starting Price: $29,249
Core Touring	Street Glide	Starting Price: $27,749
Large Cruiser Segment Share (U.S.)	Softail Lineup	Market Share: 68% (Q3 2025)

Emotional brand connection: freedom, adventure, and a unique lifestyle.

The brand connection is the intangible value Harley-Davidson, Inc. sells. The current leadership is actively looking to reintroduce elements of the brand's past appeal. The CEO noted that historical advertising aimed at younger riders featured 'immense joy' and a 'playfulness' that he intends to bring back to the brand presentation. This speaks directly to the lifestyle proposition, contrasting with the current environment where global retail motorcycle sales were down 6% in Q3 2025. The Adventure Touring segment, represented by the Pan America, is a direct play on the adventure lifestyle, contributing to a 4% increase in the company's adventure bike sales in Q3 2025.

Financial accessibility via in-house financing (HDFS).

Harley-Davidson Financial Services (HDFS) is a critical component, providing a pathway to ownership. The strategic transaction involving HDFS in 2025 is expected to unlock $1.2 to $1.25 billion in discretionary cash through the first quarter of 2026. This financial arm remains highly profitable; HDFS reported an operating income of $439 million in the third quarter of 2025. The full-year 2025 operating income guidance for HDFS was set between $525 million and $550 million. At the end of Q3 2025, total finance receivables stood at $6.0 billion. Furthermore, the company demonstrated shareholder commitment by affirming a cash dividend of US$0.18 per share for the fourth quarter of 2025.

HDFS Performance Snapshot (Latest Reported Periods):

• Q3 2025 HDFS Operating Income: $439 million
• Q2 2025 HDFS Operating Income Margin: 27.1%
• Full Year 2025 HDFS Operating Income Guidance: $525 million - $550 million
• Total Finance Receivables (End of Q3 2025): $6.0 billion

Expansion into new segments: Adventure Touring (Pan America) and electric (LiveWire).

Harley-Davidson, Inc. is actively pushing into new product categories to diversify beyond its core cruiser base. The electric segment, LiveWire, showed signs of unit sales growth in Q3 2025, with electric motorcycle unit sales increasing by 86% compared to the same quarter in 2024, moving from 99 units to 184 units. LiveWire's third-quarter revenue reached $5.7 million, a 28% increase from $4.4 million in 2024. However, the segment continues to operate at a loss, with the Q3 2025 net loss narrowing to $19.4 million from $22.7 million a year prior. The full-year 2025 operating loss guidance for LiveWire is set at $72 million to $77 million. To put the electric segment's Q1 2025 performance in context, only 33 motorcycles were sold, a 72% drop year-over-year, resulting in a loss of $20 million for that quarter.

Harley-Davidson Certified™ pre-owned program for value preservation.

While specific financial metrics for the Harley-Davidson Certified™ program weren't detailed, the focus on inventory management supports the value proposition of pre-owned assets. As of Q3 2025, global dealer inventories of new motorcycles were down 13% compared to the end of Q3 2024. This inventory reduction helps maintain the perceived value of both new and used machines. In 2024, dealer inventory levels of new motorcycles finished the year down over 4% year-over-year.

Finance: draft 13-week cash view by Friday.

Harley-Davidson, Inc. (HOG) - Canvas Business Model: Customer Relationships

Community building through the Harley Owners Group (H.O.G.) remains central to the Harley-Davidson, Inc. customer relationship strategy.

• The Harley Owners Group (H.O.G.) is the largest factory-sponsored motorcycle enthusiast organization globally.
• H.O.G. boasts membership numbering over one million people around the globe.
• HOG members typically spend 30% more than other owners on items like clothing and Harley-Davidson-sponsored events.
• The annual renewal fee for HOG membership is $59 per year after the initial complimentary year.
• The organization provides access to benefits including H.O.G. Assist emergency roadside recovery services.

Dedicated personal support is channeled through the independent dealer network, which is a critical, though currently stressed, touchpoint.

As of October 13, 2025, there were 629 Harley-Davidson dealerships operating in the United States. The network is designed to offer personal support, sales, and service, though reports indicate a contraction in the overall number of operating locations. Top-performing dealerships are recognized with awards like the Bar & Shield Award for excellence in service and customer satisfaction. For instance, in 2024, North America accounted for 63% of global retail sales, totaling 94,930 units.

Relationship Metric	Value/Figure	Context/Date
US Dealership Count	629	October 2025
H.O.G. Global Membership	Over 1,000,000	Historical/Current Structure
H.O.G. Member Spend Premium	30% more	Compared to non-H.O.G. owners
H.O.G. Annual Renewal Fee	$59	2025 Rate
Average Recent Ownership Duration	3 years	Survey data point

Digital engagement and enhanced online touchpoints were a key focus of The Hardwire strategic plan, which concluded in 2025. The goal was to build an experience allowing the customer to choose when and how to engage across digital and physical channels. This included expanding the digital ecosystem as part of the plan's capital spending targets, which ranged between $190 million to $250 million annually. The strategy aimed to tailor the customer journey using integrated data for a personalized experience.

Curated product portfolio decisions directly influence customer loyalty, particularly within the core segments. The focus on premium models has resulted in strong performance in specific categories, which helps deepen the relationship with established riders. Touring, Trike, and CVO models saw an 8% increase in North American retail sales in 2024. The dominance of these high-margin bikes shows where the most engaged customers are spending. For example, the Street Glide and Road Glide series accounted for over 60% of U.S. sales in 2024. Furthermore, 60% of the brand's repeat customers participate in loyalty programs, citing personalized rewards as a key factor in their continued relationship.

• Touring segment retail sales in North America grew by 8% in 2024.
• Street Glide and Road Glide models represent over 60% of U.S. sales volume.
• 60% of repeat customers engage with loyalty programs.
• LiveWire electric motorcycle sales were only 33 units in Q1 2025.

Harley-Davidson, Inc. (HOG) - Canvas Business Model: Channels

You're looking at how Harley-Davidson, Inc. gets its products-from bikes to branded gear-into the hands of riders as of late 2025. The channel strategy is a mix of traditional, high-touch retail and necessary digital pivots, especially given the current economic climate affecting discretionary purchases.

Global network of authorized, independent dealerships

The authorized, independent dealership remains the primary, high-value touchpoint for new and used motorcycle sales, financing, and service. However, the network is under significant pressure. Harley-Davidson, Inc. has been actively managing dealer inventory levels, which you can see reflected in their wholesale shipments.

Here's the quick math on inventory management as of the mid-year point:

Metric	Value (as of Q2 2025)	Comparison
Global Dealer Inventories (New Motorcycles)	Down 28 percent	Compared to Q2 2024
Q2 2025 Global Motorcycle Shipments	Decreased 28 percent	Year-over-year
Dealer Traffic Observation	Not seeing as much traffic	Reported in Q2 2025 commentary

Honestly, the focus on reducing stock suggests dealers are working through a backlog while retail traffic cools. Some industry watchers defintely expect further dealership consolidation throughout 2025 as a result of this lower traffic and inventory overhang.

Direct-to-consumer digital sales for LiveWire One

For the LiveWire electric motorcycle segment, the channel strategy leans more toward direct engagement, though overall unit sales have been challenging. While the LiveWire One model offers advanced tech like Bluetooth integration and the S2 app for charging station location, the direct sales volume hasn't yet materialized into significant market penetration.

The performance data shows the current reality of this channel:

• LiveWire sold just 33 motorcycles worldwide in Q1 2025.
• Q2 2025 saw 55 bikes sold globally.
• The full-year 2025 guidance projected electric motorcycle unit sales between 1,000 and 1,500 units.
• The Q1 2025 operating loss for the LiveWire segment was $20 million.

What this estimate hides is the mix; the sales figures include all LiveWire models, not just the LiveWire One, but it clearly shows the channel is currently struggling to meet earlier aggressive volume projections.

Company-owned e-commerce for Parts, Accessories, and Apparel

The company-owned e-commerce platform, primarily `harley-davidson.com`, serves as a crucial direct channel for Parts, Accessories, and Apparel (P&A), which historically helps offset volatility in new motorcycle sales. This channel saw significant traffic in the third quarter.

Specific metrics for this digital storefront in September 2025 include:

• Online sales revenue reached approximately $9,794,729.
• The site recorded about 4,313,416 sessions.
• The Average Order Value (AOV) ranged between $175 and $200.

Still, this direct-to-consumer revenue stream is separate from the wholesale Parts & Accessories revenue reported in earnings, which was $187 million in Q2 2025.

Global manufacturing facilities (e.g., US and Thailand)

Harley-Davidson, Inc. uses a geographically distributed manufacturing footprint to optimize capacity and navigate trade dynamics. For the 2025 model year, a strategic shift was executed to balance production loads between its U.S. and international facilities.

The channel strategy here involves production allocation:

• Production for non-core Revolution Max powertrain-equipped models-specifically the Pan America, Sportster S, and Nightster-was temporarily transitioned to the Thailand facility for model-year 2025.
• This move was intended to optimize production capacity at the York, PA facility for core segments like the Grand American Touring series, Softail line, and Trikes.
• The company announced an additional $9 million investment into its U.S. manufacturing infrastructure, partly supported by a Department of Energy Grant.

The Thailand plant, established earlier to bypass tariffs on Asian/European markets, is now being used to free up U.S. capacity for the most profitable, iconic models.

Harley-Davidson, Inc. (HOG) - Canvas Business Model: Customer Segments

You're looking at the core groups Harley-Davidson, Inc. is serving as of late 2025. It's a mix of deeply established loyalty and a tough push for new relevance.

The traditional, affluent, and loyal core riders remain the bedrock, heavily concentrated in the Touring and Cruiser segments. This group drives the majority of the core motorcycle revenue, even as retail traffic slows.

• Global motorcycle retail sales for the third quarter of 2025 totaled approximately 34,000 units, a 6% year-over-year decline.
• North American retail motorcycle units sold in Q3 2025 were 23,500, down 5% versus the prior year.
• Harley-Davidson maintained a 70% share of the U.S. Touring segment and a 52% share of the U.S. Cruiser market based on year-end 2024 positioning mentioned in Q3 2025 reports.

The company's revenue performance in Q3 2025 reflects this core strength, with Motorcycles revenue hitting $822 million, a 34% increase year-over-year, driven by shipments, not retail.

For new, younger, and first-time riders, the focus is more aspirational, given the poor performance of the electric segment and the high cost of entry for new combustion models. The company recognizes the existing customer base is aging, with analysts noting the customer base willing to spend $20k-$40k is shrinking.

Segment Focus	Metric	2025 Q3 Data Point
Core Riders (Touring/Cruiser)	Motorcycle Revenue (HDMC)	$822 million
Core Riders (Touring/Cruiser)	Global Retail Units Sold	34,000 units
Lifestyle Enthusiasts (Apparel/P&A)	Apparel Revenue	$56 million
Lifestyle Enthusiasts (Apparel/P&A)	Parts & Accessories Revenue	$167 million
EV Early Adopters (LiveWire)	Q3 Operating Loss	$18.2 million

The lifestyle brand appeal, which captures non-riders and enthusiasts through accessories, showed modest growth in one area but a slight contraction in another for the third quarter.

• Apparel revenue for Q3 2025 was $56 million, marking a 1% increase year-over-year.
• Parts & Accessories revenue for Q3 2025 was $167 million, a 4% decrease versus the prior year.

Electric vehicle (EV) early adopters and urban commuters, served by the LiveWire division, continue to represent a segment where Harley-Davidson, Inc. is investing despite significant losses and missed targets. The company has withdrawn most of its 2025 outlook but provided specific guidance for this segment.

• LiveWire Q1 2025 unit sales were only 33 motorcycles.
• The updated full-year 2025 guidance projects a LiveWire operating loss between $72 million and $77 million.
• Total net cash use for LiveWire for the full year 2025 is expected to be $50 million to $60 million.

Finance remains a key segment enabler, with Harley-Davidson Financial Services (HDFS) operating income guidance for the full year 2025 set between $525 million and $550 million, following a transaction that unlocked over $1.2 billion in discretionary cash.

Harley-Davidson, Inc. (HOG) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Harley-Davidson, Inc.'s operations as of late 2025. This structure is heavily influenced by material costs, strategic investments, and external trade friction, so you need to watch these line items closely.

The cost of goods sold is fundamentally tied to raw materials. While specific, current figures for total steel and aluminum costs aren't explicitly broken out for 2025, the volatility in these commodities is clearly reflected in the massive swings seen in tariff-related expenses. Harley-Davidson's manufacturing base is centered in the U.S., with three of four plants located there, including final assembly in York, Pennsylvania, and powertrain operations in Wisconsin.

Investment in future product development and manufacturing capability, part of the ongoing Hardwire strategy, remains a significant fixed cost. The original Hardwire plan targeted annual capital investments between $190 million and $250 million through 2025. For the full year 2025, the company revised this capital expenditure expectation down slightly to a range of $200,000,000 to $225,000,000.

Trade policy creates significant, unpredictable cost headwinds. The uncertainty around tariffs caused Harley-Davidson to withdraw its full-year 2025 financial outlook on May 1, 2025. Initial estimates for incremental tariff costs in 2025 were between $75 million and $100 million. Following a White House announcement, this was revised down to a range of $30 million to $55 million. However, other reports indicated the potential impact of new April 2025 tariffs could cost the company between $130 million and $175 million annually, leading to the guidance withdrawal. For context, the direct tariff cost incurred through the second quarter of 2025 was $13 million, with total direct and indirect tariff costs for the first half of the year at $17 million.

Selling, General, and Administrative (SG&A) expenses are managed through global marketing efforts and corporate overhead. As part of the broader cost-cutting under the Hardwire initiative, the company is targeting $150 million in annual savings by 2026. For the electric motorcycle unit, LiveWire, SG&A and engineering expenses were reduced by $7.0 million in the second quarter of 2025 compared to the prior year due to cost reduction activities.

The electric motorcycle division, LiveWire, continues to operate at a significant loss, representing a major drain on the cost structure. For the first quarter of 2025, LiveWire reported an operating loss of $20 million on revenue of just $3 million. For the full year 2025, the company updated its projected operating loss guidance to a range of $59 million to $69 million, down from the initial projection of $70 million to $80 million. The Q2 2025 operating loss for LiveWire was $19 million.

Here's a quick look at the key 2025 cost structure projections and actuals:

Cost Component	Financial Number / Range (2025)	Context / Period
Capital Investments (Revised Guidance)	$200,000,000 to $225,000,000	Full Year 2025 Projection
Tariff Costs (Initial Estimate)	$75 million to $100 million	Initial Full Year 2025 Estimate
Tariff Costs (Revised Estimate)	$30 million to $55 million	Revised Full Year 2025 Estimate
Tariff Costs (Withdrawn Guidance Impact)	Up to $175 million	Reason for Withdrawing Full Year Guidance
Tariff Costs (Direct & Indirect)	$17 million	First Half of 2025 Actuals
LiveWire Operating Loss (Updated Guidance)	$59 million to $69 million	Updated Full Year 2025 Projection
LiveWire Operating Loss (Q1)	$20 million	First Quarter 2025 Actual
Hardwire Initiative Annual Savings Target	$150 million	Target by end of 2026

You can see the cost structure is a balancing act: managing high planned capital expenditure for the Hardwire plan while absorbing significant, volatile tariff costs and subsidizing the ongoing losses from the LiveWire segment. Finance: draft 13-week cash view by Friday.

Harley-Davidson, Inc. (HOG) - Canvas Business Model: Revenue Streams

You're looking at the core ways Harley-Davidson, Inc. brings in money, which is definitely more than just rolling new bikes off the line. The structure of their revenue streams shows a clear reliance on both product sales and the financing that helps move those products.

The Harley-Davidson Motor Company (HDMC) segment is the foundation, covering the actual motorcycles. For the third quarter of 2025, motorcycle sales revenue was reported at $1.07 billion. This is part of a broader picture where HDMC saw its revenue increase by 23 percent year-over-year in Q3 2025, driven by global motorcycle shipments increasing 33 percent versus the prior year, even as retail sales were down 6 percent in that same quarter.

The supporting revenue streams are critical, especially Parts & Accessories (P&A), which is known to be a high-margin area. Still, even this segment felt the economic pinch. For instance, in the first quarter of 2025, Parts & Accessories revenue was $143 million, representing a 14 percent decline compared to 2024. By the third quarter of 2025, the revenue for Parts & Accessories was down 4 percent year-over-year.

General Merchandise, which includes apparel and licensing, provides smaller, but steady, income. Here's a quick look at the Q3 2025 figures:

Revenue Component	Q3 2025 Revenue (Approximate)	Year-over-Year Change
Apparel	$56 million	Up 1 percent
Licensing	$6 million	Up 42 percent

The Financial Services arm, Harley-Davidson Financial Services (HDFS), is a major contributor, generating revenue through interest income on loans and loan servicing fees. The strategic partnership finalized in 2025 significantly altered this stream's profile. The transaction is expected to unlock approximately $1.25 billion in discretionary cash for Harley-Davidson, Inc. during 2025, with the full cash release expected no later than the first quarter of 2026. This move transformed HDFS into a capital-light business.

The financial impact from HDFS is clear when you look at the operating income. For the full year 2025, HDFS operating income is expected to be in the range of $525 million to $550 million. In the third quarter alone, HDFS operating income was reported at $439 million, which reflects the impact of the new transaction structure through the end of Q3.

You can see the breakdown of the revenue sources contributing to the overall financial picture:

• Motorcycle Sales (HDMC)
• Parts & Accessories (P&A) sales
• General Merchandise (Apparel and Licensing)
• HDFS interest income and fees
• Cash proceeds from the HDFS equity sale

Finance receivables at the end of Q3 2025 totaled $6.0 billion, which was a 24 percent decline versus the prior year, largely due to the HDFS transaction where a portion was classified as held-for-sale.

Finance: draft 13-week cash view by Friday.