Harley-Davidson, Inc. (HOG): Modelo de negócios Canvas [Jan-2025 Atualizado]

A Harley-Davidson não é apenas um fabricante de motocicletas; É uma marca global de estilo de vida que transformou magistralmente a arte de entrar em um fenômeno cultural icônico. Ao aproveitar estrategicamente sua rica herança, design inovador e identidade de marca poderosa, a Harley-Davidson criou um modelo de negócios que transcende a fabricação tradicional, conectando-se profundamente a pilotos apaixonados por gerações e continentes. Desde engenharia premium de motocicletas até estratégias sofisticadas de envolvimento do cliente, o modelo de negócios da empresa, Canvas, revela um complexo ecossistema de parcerias, recursos e proposições de valor que sustentaram seu status lendário no cenário automotivo competitivo.

Harley -Davidson, Inc. (HOG) - Modelo de negócios: Parcerias -chave

Fabricantes de peças e acessórios para motocicletas

A Harley-Davidson colabora com vários fornecedores de Nível-1 para componentes críticos:

Fornecedor	Componente	Valor anual do contrato
Brembo S.P.A.	Sistemas de freio	US $ 42,3 milhões
Bosch GmbH	Sistemas eletrônicos de injeção de combustível	US $ 63,7 milhões
Michelin	Pneus de motocicleta	US $ 37,5 milhões

Rede de concessionária autorizada em todo o mundo

Estatísticas de rede de concessionárias globais:

• Total de concessionárias: 1.346 locais
• Distribuição geográfica:
  • Estados Unidos: 687 concessionárias
  • Europa: 324 concessionárias
  • Ásia-Pacífico: 215 concessionárias
  • América Latina: 120 concessionárias
• Receita anual média por concessionária: US $ 3,2 milhões

Parceiros de Serviços Financeiros

Parceiro	Tipo de serviço	Volume anual de transações
Sincronia financeira	Financiamento de crédito	US $ 1,4 bilhão
Allianz SE	Seguro de motocicleta	US $ 276 milhões em prêmios

Colaboradores de tecnologia e plataforma digital

Principais parcerias de tecnologia:

• Apple Inc.: Integração de aplicativos móveis
• Google LLC: desenvolvimento da plataforma Android
• Garmin Ltd.: Sistemas de navegação

Fornecedores de personalização de pós -venda e aprimoramento de desempenho

Fornecedor	Categoria de produto	Volume anual de vendas
Vance & Hines	Sistemas de escape de desempenho	US $ 47,6 milhões
Roland Sands Design	Peças e acessórios personalizados	US $ 22,3 milhões

Harley -Davidson, Inc. (HOG) - Modelo de negócios: Atividades -chave

Projeto e fabricação de motocicletas

Volume anual de produção de motocicletas: 94.172 unidades em 2022

Instalações de fabricação	Localização	Capacidade anual
York, Pensilvânia	Estados Unidos	50.000 motocicletas
Manaus	Brasil	20.000 motocicletas

Marketing de marca e promoção de estilo de vida

Despesas de marketing: US $ 204,7 milhões em 2022

• Associação do Grupo de Proprietários da Harley (HOG): 225.000 membros ativos
• Seguidores de mídia social: 4,5 milhões entre plataformas

Operações de vendas on -line e de varejo

Rede de concessionárias Total: 696 concessionárias em todo o mundo

Região	Número de concessionárias
Estados Unidos	530
Mercados internacionais	166

Experiência do cliente e gerenciamento de serviços

Receita de serviço e peças: US $ 643 milhões em 2022

• Classificação média do atendimento ao cliente: 4.2/5
• Reclamações de garantia Tempo de processamento: 7-10 dias úteis

Inovação de produtos e desenvolvimento de veículos elétricos

Gastos de pesquisa e desenvolvimento: US $ 174,3 milhões em 2022

Modelo elétrico	Ano de lançamento	Faixa estimada
LiveWire um	2022	146 milhas por carga

Harley -Davidson, Inc. (HOG) - Modelo de negócios: Recursos -chave

Heritage de marca forte e designs icônicos de motocicletas

O valor da marca da Harley-Davidson estimado em US $ 7,4 bilhões a partir de 2023. Fundado em 1903, com mais de 120 anos de história de fabricação de motocicletas. Pontuação de reconhecimento de marca de 92% no mercado norte -americano de motocicletas.

Métrica da marca	Valor
Valor global da marca	US $ 7,4 bilhões
Idade da marca	120 anos ou mais
Reconhecimento de mercado	92%

Instalações de fabricação globais

Locais de fabricação nos Estados Unidos, Brasil e Tailândia. Capacidade total de fabricação de 180.000 motocicletas anualmente.

Local de fabricação	Capacidade anual
York, Pensilvânia	75.000 unidades
Manaus, Brasil	45.000 unidades
Tailândia	60.000 unidades

Revendedor extensivo e rede de serviços

Rede global de revendedores compreendendo 1.426 concessionárias em 100 países a partir de 2023.

• América do Norte: 628 concessionárias
• Europa: 324 concessionárias
• Ásia-Pacífico: 274 concessionárias
• América Latina: 200 concessionárias

Propriedade intelectual e patentes de design

Mantendo 1.872 patentes ativas a partir de 2023. Investimento anual de P&D de US $ 178 milhões.

Métrica de propriedade intelectual	Valor
Patentes ativas	1,872
Investimento anual de P&D	US $ 178 milhões

Força de trabalho de engenharia e design qualificada

Força de trabalho total de 5.600 funcionários. A equipe de engenharia compreende 742 profissionais especializados.

• Total de funcionários: 5.600
• Equipe de engenharia: 742
• Equipe de design: 186
• Experiência média de engenharia: 14,3 anos

Harley -Davidson, Inc. (HOG) - Modelo de negócios: proposições de valor

Estilo de vida de motocicleta premium e identidade da marca

A Harley-Davidson registrou 2023 receita anual de US $ 4,68 bilhões. Avaliação da marca estimada em US $ 7,4 bilhões. O segmento de motocicletas representou 84% da receita total da empresa.

Métricas de marca	2023 valores
Valor total da marca	US $ 7,4 bilhões
Receita anual	US $ 4,68 bilhões
Receita do segmento de motocicletas	US $ 3,93 bilhões

Motocicletas de alta qualidade e personalizáveis

A Harley -Davidson oferece 17 linhas de modelos de motocicletas em 2024. Faixa média de preço da motocicleta: US $ 10.000 - US $ 40.000.

• Opções de personalização disponíveis em todas as linhas do modelo
• Mais de 200 atualizações de desempenho autorizadas pela fábrica
• O cliente médio gasta US $ 1.500 em modificações de pós -venda

Conexão emocional com a comunidade do piloto

Associação do Harley Proprietário do Harley (H.O.G.): 1,2 milhão de membros globalmente. 1.500 capítulos locais em 140 países.

Tecnologia e desempenho avançados de motocicletas

Métricas de tecnologia	2024 Especificações
Modelos de motocicletas elétricas	2 (LiveWire One, S2 Del Mar)
Potência média	90-130 HP
Investimento em P&D	US $ 285 milhões anualmente

Experiência única de pilotagem e patrimônio

Fundado em 1903. Mais de 120 anos de fabricação contínua de motocicletas. Participação no mercado no segmento de motocicletas de peso pesado: 45,3%.

• Volume de produção de motocicletas: 142.000 unidades em 2023
• Exportar para mais de 100 países
• Reconhecimento histórico da marca em 180 mercados em todo o mundo

Harley -Davidson, Inc. (HOG) - Modelo de negócios: Relacionamentos do cliente

Programas de fidelidade e comunidades de pilotos

A Harley Proprietário Grupo (H.O.G.) é membro de 2023: 1.200.000 membros em todo o mundo. Taxa anual de associação: US $ 49. Os benefícios do programa de fidelidade incluem:

• Assistência na estrada
• Assinatura mensal da revista
• Acesso exclusivo para eventos
• Descontos de mercadorias

Atendimento ao cliente personalizado

Canal de serviço	Tempo médio de resposta	Taxa de satisfação do cliente
Suporte telefônico	12 minutos	87%
Chat online	8 minutos	82%
Suporte por e -mail	24 horas	75%

Engajamento digital através de plataformas móveis e online

Downloads de aplicativos móveis em 2023: 750.000. Site visitantes mensais exclusivos: 2,3 milhões. Métricas de engajamento da plataforma digital:

• Seguidores de mídia social: 4,5 milhões
• Assinantes do canal do YouTube: 350.000
• Seguidores do Instagram: 2,1 milhões

Patrocínio de eventos de motocicletas e comícios

Tipo de evento	Número anual de eventos	Alcance estimado dos participantes
Harley-Davidson comícios	120	500.000 participantes
Festivais de motocicletas patrocinados	85	350.000 participantes

Opções de personalização e personalização

Opções de motocicletas personalizadas em 2023:

• Mais de 500 acessórios genuínos
• Gastos médios de personalização por motocicleta: US $ 2.300
• Opções de tinta personalizadas: 75 combinações de cores exclusivas
• Catálogo de peças personalizadas: mais de 3.000 componentes individuais

Harley -Davidson, Inc. (HOG) - Modelo de negócios: canais

Rede de concessionária autorizada

Em 2024, a Harley-Davidson mantém 616 concessionárias em todo o mundo, com 571 locais nos Estados Unidos. A concessionária média gera aproximadamente US $ 4,2 milhões em receita anual.

Região	Número de concessionárias	Receita média anual por concessionária
Estados Unidos	571	US $ 4,2 milhões
Mercados internacionais	45	US $ 3,8 milhões

Site oficial da empresa

A plataforma de comércio eletrônico da Harley-Davidson gera aproximadamente US $ 275 milhões em vendas on-line anuais, representando 8,5% da receita total da empresa.

• Tráfego do site: 3,2 milhões de visitantes únicos mensalmente
• Taxa de conversão online: 2,7%
• Valor médio do pedido on -line: $ 1.850

Aplicativo móvel

O aplicativo móvel Harley-Davidson possui 742.000 usuários mensais ativos, com 68% dos usuários envolvidos em personalização digital de motocicletas e 42% usando o aplicativo para planejamento de rotas.

Métrica de aplicativo	Valor
Usuários ativos mensais	742,000
Engajamento de personalização digital	68%
Uso de planejamento de rota	42%

Motocicletas e exposições

A Harley-Davidson participa de 47 exposições internacionais de motocicletas anualmente, gerando aproximadamente US $ 38 milhões em vendas e leads diretos.

• Leads médios gerados por exposição: 1.200
• Taxa de conversão de leads de exposição: 15,3%
• Gastos médios de marketing de exposição: US $ 850.000

Plataformas de mídia social

A Harley-Davidson mantém uma forte presença nas mídias sociais, com 4,6 milhões de seguidores combinados entre plataformas.

Plataforma	Seguidores	Taxa de engajamento
Instagram	2,1 milhões	3.8%
Facebook	1,9 milhão	2.5%
YouTube	600,000	4.2%

Harley -Davidson, Inc. (HOG) - Modelo de negócios: segmentos de clientes

Entusiastas de motocicletas e ciclistas de estilo de vida

A partir de 2023, a Harley-Davidson registrou 753.600 vendas totais de motocicletas em todo o mundo. A demografia principal do cliente inclui:

Faixa etária	Percentagem
35-54 anos	42.3%
55-74 anos	37.8%

Adultos profissionais de alta renda

Características do segmento de renda alvo:

• Renda familiar anual: US $ 95.000 - US $ 125.000
• Preço médio de compra de motocicleta: US $ 22.500
• Ocupações profissionais: executivos, empresários, gerentes

Demografia de meia-idade e mais antiga

Aparelhamento do segmento de clientes:

Categoria de idade	Quota de mercado
45-64 anos	56.7%
65 anos ou mais	23.4%

Mercados internacionais de motocicletas

Penetração de mercado global em 2023:

• América do Norte: 68,5% do total de vendas
• Europa: 15,3% do total de vendas
• Ásia-Pacífico: 9,2% do total de vendas

Aventura e passeios de turnê

Estatísticas do segmento de motocicletas em turnê:

Tipo de motocicleta	Volume de vendas
Modelos de turismo	87.500 unidades
Touring de aventura	45.300 unidades

Harley -Davidson, Inc. (HOG) - Modelo de negócios: estrutura de custos

Despesas de fabricação e produção

Em 2022, os custos totais de fabricação da Harley-Davidson foram de US $ 1,33 bilhão. A empresa opera instalações de fabricação em:

• York, Pensilvânia
• Milwaukee, Wisconsin
• Manaus, Brasil

Local de fabricação	Capacidade de produção anual	Custo por unidade
Instalação de York, PA	75.000 motocicletas	US $ 8.500 por motocicleta
Milwaukee, WI Facility	50.000 motocicletas	US $ 9.200 por motocicleta
Manaus, instalação do Brasil	25.000 motocicletas	US $ 7.800 por motocicleta

Investimentos de pesquisa e desenvolvimento

Em 2022, a Harley-Davidson investiu US $ 174 milhões em pesquisa e desenvolvimento, representando 4,2% da receita total.

Área de foco em P&D	Alocação de investimento
Desenvolvimento de motocicletas elétricas	US $ 68 milhões
Inovação tradicional de motocicletas	US $ 62 milhões
Tecnologia digital	US $ 44 milhões

Marketing e promoção de marca

As despesas de marketing de 2022 totalizaram US $ 256 milhões, o que representa 6,1% da receita total.

• Marketing Digital: US $ 98 milhões
• Publicidade tradicional: US $ 72 milhões
• Patrocínio de eventos: US $ 86 milhões

Manutenção da rede de revendedores

Os custos de suporte e manutenção do revendedor em 2022 foram de aproximadamente US $ 142 milhões.

Categoria de despesa de rede de revendedores	Custo
Programas de treinamento	US $ 38 milhões
Suporte de marketing	US $ 54 milhões
Suporte técnico	US $ 50 milhões

Cadeia de suprimentos e gerenciamento de logística

A cadeia de suprimentos e as despesas de logística de 2022 foram de US $ 312 milhões.

Categoria de despesa de logística	Custo
Transporte	US $ 142 milhões
Gerenciamento de inventário	US $ 98 milhões
Armazenamento	US $ 72 milhões

Harley -Davidson, Inc. (HOG) - Modelo de negócios: fluxos de receita

Vendas de motocicletas

A Harley-Davidson registrou receita de vendas de motocicletas de US $ 3,78 bilhões em 2022.

Categoria de motocicleta	Volume de vendas (2022)	Contribuição da receita
Motocicletas em turnê	48.742 unidades	US $ 1,45 bilhão
Motocicletas de cruzeiro	35.621 unidades	US $ 1,12 bilhão
Motocicletas de aventura	22.345 unidades	US $ 0,78 bilhão

Peças de reposição e acessórios

Peças e acessórios de pós-venda geraram US $ 812 milhões em receita para a Harley-Davidson em 2022.

• As categorias de pós-venda mais vendidas incluem sistemas de escape
• Guidão personalizado e assentos
• Peças de aprimoramento de desempenho

Mercadoria e vendas de produtos de marca

As vendas de mercadorias atingiram US $ 456 milhões em 2022.

Categoria de mercadorias	Receita
Vestuário	US $ 276 milhões
Acessórios de estilo de vida	US $ 124 milhões
Casa e colecionáveis	US $ 56 milhões

Serviços financeiros e ofertas de crédito

A Harley-Davidson Financial Services gerou US $ 342 milhões em receita em 2022.

• Empréstimos para motocicletas: US $ 256 milhões
• Garantias estendidas: US $ 54 milhões
• Produtos de seguro: US $ 32 milhões

Licensagem e parcerias de marca

A receita de licenciamento totalizou US $ 87 milhões em 2022.

Tipo de parceria	Contribuição da receita
Licenciamento de vestuário	US $ 52 milhões
Parcerias de entretenimento	US $ 21 milhões
Outros acordos de licenciamento	US $ 14 milhões

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.