More context:
Global Motorcycle Sales — 2025 (Estimated Units & Growth)
Rank Manufacturer Approx. Units Sold in 2025 Approx. YoY Growth (vs 2024) Notes
1 Honda ~19.4 million ~+6 % Continues as the world’s largest motorcycle maker.
2 Hero MotoCorp ~5.9 million ~+7 % India’s top brand globally.
3 Yamaha ~4.6 million ~+4 % Strong in both scooters and motorcycles
4 Yadea ~4.3 million ~-13 % China EV-two-wheeler leader.
5 TVS Motor ~3.7 million ~+12 % Fast growth in key markets.
6 Bajaj Auto ~3.1 million ~+9 % Major exporter, strong in commuter segments.
7 Suzuki ~2.0 million ~+6 % Established global presence.
8 Italika ~1.3 million ~+36 % Latin America staple.
9 Zongshen ~1.0 million ~+3 % Chinese OEM.
10 Royal Enfield ~0.95 million ~+5 % Mid-size niche specialist.
BMW Motorrad ~202,563 ~-3.7 % Premium German motorcycle brand, ~200 k units.Triumph ~140,000+ ~+3.6 % Premium British brand continuing modest growth.
Harley-Davidson ~132,500 ~-12 % Flagship U.S. cruiser maker with declining shipments.Polaris (Indian Motorcycle) ~25,000–30,000 proj. ~-? % Polaris is selling its Indian business; Indian sales have been declining (~14 k in H1 2025).I dont think the story is written yet. Yes, "Harley is in a transition phase: trying to stabilize and reset the business with leaner production, financial discipline, and a slower paced recovery rather than rapid growth." Running a company that sells 135k motorcycles is very different from 2006 when they shipped 350k to the dealers. Its definitely going to be a much smaller, niche manufacturer with a devoted fan base. The new CEO understands this I believe and isnt chasing the holy grail to recapture irrevocably lost sales due to demographics and cost pressures. They can be right sized and continue as a profitable public corporation. Fewer dealers, fewer employees, fewer models. Getting out from under the tariffs would certainly help.