Harley-Davidson Withdraws 2025 Outlook Amid Tariff Concerns, Sales Decline

Harley-Davidson reported a first-quarter profit of $133 million, surpassing analyst expectations, despite a 23% decline in revenue and a 21% drop in global motorcycle retail sales compared to the previous year. The company withdrew its financial outlook for 2025, citing significant uncertainty from global tariffs and broader macroeconomic challenges that have depressed demand, particularly in North America. Harley-Davidson's leadership emphasized efforts to manage these headwinds through supply chain adjustments, cost controls, and reduced dealer inventory. The company also faces internal pressures, including a planned CEO retirement and a proxy battle with H Partners Management over board composition. Despite these challenges, Harley-Davidson maintained a strong operating income margin in its motorcycle and financial services segments and continued share buybacks. The withdrawal of its forecast reflects wider industry struggles, as other motorcycle manufacturers have taken similar measures in response to volatile economic and trade conditions.