Polaris

Polaris Q1 - Increased Sales Revenue, ORV Market Share Gains, Net Losses

Summarizing the quarter (Q1, 2026 ended March 31) in which Polaris Industries finally exited its full ownership position in Indian Motorcycle , CEO Mike Speetzen is quoted as saying "we delivered a strong start to 2026, driven by 8% sales growth, earnings ahead of expectations, continued share gains in ORV and Snow, and meaningful margin expansion despite a dynamic macro environment. 

"These results reflect the focus and disciplined execution of the Polaris team. With a clear strategy, an industry-leading portfolio of innovative products, and a continued emphasis on operational efficiency, we believe Polaris is well positioned to serve our dealers and customers while driving profitable growth and long-term shareholder value."

For the first quarter of 2026, Polaris reported worldwide sales of $1,659m, up eight% versus the first quarter of 2025. North America sales of $1,426m represented 86% of total Company sales and increased 10% from $1,290m in the first quarter of 2025. 

International sales of $233m represented 14% of total Company sales and decreased 5% versus the first quarter of 2025. Total Company sales in the first quarter of 2026 were impacted by higher shipment volumes and positive net price.

Gross profit margin increased 423 basis points to 20.2% for the first quarter, as compared to the first quarter of 2025. Adjusted gross profit margin of 20.5% increased 389 basis points primarily driven by positive contributions from mix, net price and operational efficiencies offsetting higher tariff expense compared to the first quarter of 2025.

Operating expenses were $390m in the first quarter of 2026 compared to $303m in the first quarter of 2025 primarily due to timing of planned general and administrative expenses. Operating expenses as a percentage of sales were 23.5%, up 377 basis points in the first quarter of 2026 compared to the first quarter of 2025.

For the first quarter, net loss attributable to Polaris was $47m, or $0.83 net loss per diluted share, compared to net loss attributable to Polaris of $67m, or $1.17 net loss per diluted share in the first quarter of 2025. Adjusted net income attributable to Polaris for the quarter was $8m and adjusted EPS was $0.13.

Polaris Powersports segment results were primarily driven by higher shipment volumes and positive net price. PG&A sales increased 14%. Gross profit margin performance was driven by positive product mix and operational efficiencies offsetting higher tariff expense.

Polaris North America ORV unit retail sales were up 3%. Estimated North America industry ORV unit retail sales were up low-single digits percent.

Marine segment results, including gross profit margin were primarily driven by positive product mix within the pontoon business and positive net price. Aixam & Goupil segment results were driven by higher volumes and positive product mix.

Corporate sales decreased for the quarter, as a result of the Indian Motorcycle divestiture on February 2, 2026.

The Company is reaffirming 2026 full year adjusted sales and adjusted EPS guidance. The Company expects 2026 adjusted sales to be between $7.15bn to $7.30bn and adjusted EPS of $1.60 to $1.70.

    

                                                                                                                                   

S&S Cycle

S&S Cycle - 'Cam Central' For 70-Years

The story of the V-twin aftermarket can be told through the story of the S&S Cycle product line. Since being founded in 1958, the masters of 'Proven Performance' is one of the reasons we are all here. One of the founders of the Harley-Davidson aftermarket, S&S Cycle's extensive product line tracks the development of the market itself.

One such is the company's camshaft lineup - unique in the aftermarket, this is just a selection of the coverage the company has to offer.

Gear Drive Camshaft Kit for 1999-'06 Big Twins except '06 Dyna - complete kit

That coverage starts with the early V-Twins, "where S&S offers quite a few cams including the 513G and 600G  grinds. These cams are purpose-built to modernize the performance of early engines without sacrificing the character that makes them special. Ideal for restorations and custom builds alike."

For Evolution engines, a favorite among riders and builders, S&S delivers "two excellent cam choices: the 508, for those looking for a reliable street cam that is noted for its great throttle response, and the 585" - which really comes alive in strokers and big-inch Evo builds.

Chain Drive Camshaft Kit for '06 Dyna and 2007-'16 Big Twins

For "early Twin Cam models, S&S offers the 509C for chain-driven setups, delivering strong midrange torque that works great in touring applications and for gear drive, the 510G is a reliable and well-balanced grind that's been a go-to for years." These cams are especially valuable for higher-mileage engines where smoother power delivery and strong midrange are priorities. 

Chain Drive Camshaft Kit for 1999-'06 Big Twins except '06 Dyna

The later Twin Cam bikes "get a big bump with the 585C which is a favorite among performance shops for its high lift and aggressive profile - especially in engines running high-compression pistons or ported heads. On the other hand, the MR103C is a perfect match for customers with a stock 103" engine looking to gain torque and throttle response without sacrificing rideability." 

475C Chain Drive Camshaft Kit for 2017-Up M8 models

When it comes to M8 engines, the 475C has long been the cam of choice for everyday riders. "It delivers impressive torque gains with a smooth curve and works great in a wide variety of setups making it perfect for touring and daily use. 

Now though, with the introduction of the HPT496C, S&S gives performance-minded M8 customers an even more aggressive option. "Designed for 114 ci and up bikes as a bolt-in cam, the HPT496C delivers a huge bump in power across the rpm range as well as a terrific chop at idle.

S&S Cams (585G) 1984-'99 Big Twin style cam 

"All S&S Cycle cams are American-made and backed by decades of performance engineering. Whether your customers want torque, top end pull, or just a better riding experience, S&S Cycle has the cam."

S&S CYCLE INC.

www.sscycle.com

Progressive American Flat Track

Chris Carr Returns to AMA Pro Racing as AFT Series Director

AMA Pro Racing is has announced the appointment of seven-time AMA Grand National Champion Chris Carr as the Series Director of Progressive American Flat Track. 

Effective immediately, Carr will oversee all competition-related aspects of the series as it enters an exciting new chapter of growth and evolution.

"We're proud to welcome Chris Carr back to AMA Pro Racing," said Gene Crouch, CEO of AMA Pro Racing. "Chris understands this sport at the highest levels: as a champion, a leader, and a steward of its incredible history. He brings unmatched credibility, integrity, and competitive insight that will strengthen our riders, teams and manufacturer ecosystem while elevating the fan experience nationwide."

One of the most accomplished riders in the history of American motorcycle racing, Carr's career spans decades at the top of the sport. His championship success, institutional knowledge, and deep relationships across the industry uniquely position him to guide Progressive American Flat Track's competition strategy.

In his new role, Carr will manage season calendar development and event planning, event operations and safety protocols, rulebook evolution and technical regulations, rider and team relations, new rider evaluations and licensing, and strategic initiatives including the Road to AFT talent development program.

He will serve as the primary competition liaison among riders, teams, manufacturers, promoters and officials, with fairness, safety and integrity as the guiding principles that define his leadership and shape the championship's competitive standards.

www.americanflattrack.com

ACEM

ACEM - Q1 2026 Motorcycle Registrations in Europe's 'Big-5' Markets

New motorcycle registrations the five largest European markets (i.e. France, Germany, Italy, Spain and the UK) reached 250,762 units during the three first months of 2026. This represents an increase of approximately +21.1% compared to 2025 (207,126 units).

The growth comes as registration statistics in Europe lap the Euro 5 'Pre Reg' affected data of Q1 2025. Some 30,000-40,000 new motorcycles were 'pre-registered' before the end of 2024 to avoid being subject to the next stage in the evolution of Europe's regulatory framework.

However, the motorcycles concerned were ultimately sold by dealers in the first three months of 2025 (mostly) but, not included in the 2025 data - distorting the apparent growth seen in this latest tranche of data. 

According to this Q1, 2026 data, motorcycle registration volumes increased in the 5-largest European markets that ACEM monitors with Germany +45.5% (45,549 units year-on-year), Spain +26.8% (58.027 units), UK +16.1% (23.079 units), Italy +14.3% (82.049 units) and France +10.2% (42.058 units).

These 'Big-5' European markets account for just over 80% of all motorcycle sales in all European markets.

Commenting on the current situation of the sector, Antonio Perlot, ACEM Secretary General, said: "The first quarter of 2026 confirms the outlook we shared at the end of last year. 

"With the Euro 5+ transition behind us, the European motorcycle market is regaining momentum. Registrations in the five largest markets rose by 21.1%, with all monitored countries reporting growth. 

"This indicates that demand remains solid and that last year's correction was mainly technical in nature. 

"This strong growth is particularly encouraging in a broader macroeconomic context that remains uncertain. Against this backdrop, the resilience of the motorcycle segment highlights the continued importance of powered two-wheelers for European citizens, both for everyday mobility, small logistics and leisure."

www.acem.eu

Baker Drivetrain

Upgrade to the Heavy-Duty Throwout Bearing Kit

Bert Baker, of Haslett MI. based Baker Drivetrain says: "If you've ever dealt with clutch drag, chatter, or premature throwout bearing failure, you know how frustrating - and expensive - those issues can be. That's exactly why our Heavy-Duty Throwout Bearing Kit is more than just another part - it's an essential upgrade for anyone serious about reliability and performance."

The stock throwout bearing in many Big Twin motorcycles is a known weak point, "especially once you've added performance upgrades or spend time on the road. Our heavy-duty solution drastically improves on the original design with a 97% larger thrust surface and 77% greater static load capacity, which means far less wear and way more durability."

Heavy-Duty Throwout Bearing Kit

Engineered to handle "hard use and aggressive riding", this bearing kit replaces the failure-prone stock parts and is a "simple, affordable insurance policy for the clutch and transmission." Fitment covers a wide range of 1987-up H-D models with cable-actuated clutches.

Also seen here, Baker's new Race Grade Primary Chain Adjuster Shoes "are a smart choice" for most Big Twin builds delivering "reliability where it counts."

Precision-machined from virgin billet Nylon 6-6, "these adjuster shoes have been engineered to deliver greater strength, reduced wear, and a significantly longer service life compared to the original cast components."

Race Grade Primary Chain Adjuster Shoes

Designed as direct replacements for H-D part numbers 39976-65B (1965-2000 Big Twin models) and 39976-01 (2001-2006 Big Twin models, excluding the 2006 Dyna), "these adjuster shoes offer a high-quality solution now that OEM production has ended. Our U.S.-made alternative fills the gap and outperforms both stock cast parts and imported cast copies."

They have been manufactured using modern CNC technology and "proven through real-world use, each adjuster shoe delivers consistent performance you can trust - on the street, at the track, and everywhere in between."

Stronger and more durable than stock components, the reduced rate of wear means increased service life and reduced wear, making them "ideal for demanding performance and high mileage applications."

BAKER DRIVETRAIN

www.bakerdrivetrain.com

Antigravity Batteries

Antigravity "One Charger" Super-Charger Strategy

Best known for innovative lithium battery technology, including the award winning 'Re-Start' built-in Jump-Start feature, Antigravity Batteries of California has introduced a newly engineered range of 'Super-Charger' battery chargers for use with lead acid (AGM, FLA and Gel) and lithium (Lifepo4/LFP) battery ranges.

Owner, founder and CEO Scott Schafer told AMD that "our Super Charger line is designed to offer modern technological advances and features that are ahead of those currently available in the industry.

"Gone are the LED 'dummy lights' - which gave no useful information to the user - instead we went with a large digital screen display that provides accurate real-time information.  Showing the real-time voltage and current going into the battery and, critically, a quick-view state of charge function means the user now knows exactly what is going on, immediately."

"We wanted to achieve two primary objectives with the Super Chargers. First was to make a charger that can charge any battery in a dealership, service center or workshop (or a customer's own home garage) - a genuine 'One Charger' system - whether it is for motorcycles, powersports vehicles, boats, cars, even trucks and tractors. A system that automatically adapts to any chemistry type - lead/acid, AGM or lithium (LFP/LiFePo4).

Antigravity 'SuperCharger' included feature highlights:

• 'One Charger' Strategy
• Multi-Platform for Lead Acid (AGM, FLA, Gel) and Lithium (Lifepo4/LFP)
• Large Digital Screen Display
• Real time Voltage/Current Display
• Quik View State-of-Charge
• Built-in Voltage testing
• Built-in BMS
• Lithium battery re-set
• Voltage SAG check
• Built-in Power Supply
• Standard SAE Connectors
• Prior Setting Retention
• Any/all vehicles
• Battery recovery and desulfation programming
• Automatic Winter Charging
• Automatic Connection Charge/Maintain

"The start-point was to build a Super Charging System that had all the features that we ourselves rely on daily while developing and testing our batteries.  

"For example, micro-chip charging processes, unique 'first-of-a-kind' new features like the built-in voltage tester, a built-in Battery Management System (BMS) reset function (to wake up Lithium batteries that have gone into protection/sleep mode) as well as all the typical recovery modes for Lead/AGM batteries. So, it really had to 'do it all'.

"There are some great chargers available on the market (buyer beware - there are also some awful ones) but, in general, chargers have not evolved as much as they could have done over the past decade, and we wanted to change that.

"Many charger brands have not yet fully embraced the opportunities that today's available technologies offer. They have not kept pace with the functionality and convenience needed by riders and the dealers they buy from - Voltage Tester, Multi Chemistry Charging, Digital Screen and the built-in a Lithium Battery BMS re-set feature." 

Scott says that Antigravity is testing batteries every day - charging and discharging lithium and lead/acid battery chemistries for product development, inventory maintenance, pre-ship testing and for analytics such as testing and checking for warranty issues. 

"The test bench is our native habitat. Spending so much time on work benches ourselves is what has driven the development and design of our Super Charger architecture.

"We found that we needed a ONE CHARGER strategy and all the features and functionalities we needed to make our work easier. So, if we needed that, then we knew that our approach would also make the lives of motorcycle dealers and their customers easier too," says Scott.

"Our job is to make it easy for users to get it right - they simply select the Charger Voltage Test mode, and it automatically shows the voltage of the battery, any battery, live and in real-time, straight away. There and then - no guesswork.

"This makes it easy to immediately understand whether the battery is actually dead or fully charged without needing to grab a multi-meter or go to the vehicle to see the voltage in the dash. It can also be used to check voltage sag when a specific accessory is turned on - to see the load they create. In this day and age that is HUGE."

Scott thinks that the Antigravity built-in Voltage Tester really is a genuine 'first of its kind' feature and that being able to immediately understand the battery status is a major productivity tool. So too is the dedicated BMS RE-SET for lithiums - "automatically awakening the battery if it has gone into over-discharge protection mode is another, massive, battery saving productivity enhancer and battery."

The slew of additional features (industry standard and otherwise) includes a built-in power supply in the 10-Amp and 4-Amp versions (for powering 12v DC devices and keeping power on during a battery swap etc). Super Chargers can also be used with tire inflators and other 12v devices. The standard SAE Connectors "have economy and convenience stamped all over them" and "excellent feature rich programming" brings features such as prior setting retention, sophisticated battery recovery and desulfation programming, automatic winter charging and automatic charging and maintenance when the battery is left connected to the vehicle for long term maintenance.

ANTIGRAVITY BATTERIES

www.antigravitybatteries.com

Harley-Davidson

RMCR - Harley Goes Café?

The Mama Tried Show in February 2026 saw Harley give an exclusive first public 'sneak peek' to a new Café Racer design concept that their back office has been cooking up. Not even a pre-production prototype yet, it is said to have been inspired by the original 1970's Willie G. Davidson designed model.

Designated as the RMCR, Harley Comms Guru Paul James confirmed that, at this stage, it really is just a "concept with no current plans for production". However, it has been all over the SM channels and the response has been almost universally positive.

Seen just a couple of weeks before the RM1250 power plant 'pulled up trees' in the Hands of the Saddlemen Super Hooligan team at Daytona, Bjorn Shuster, design director at Harley, is quoted as saying that "it's a concept-build that the design team put together to celebrate the performance capability that is in our Rev Max platform. 

"Looking at our history and our legacy, we really wanted to celebrate the iconography that's in Willie's original XLCR."  RMCR stands for 'Revolution Max Café Racer' and the 150 bhp, 1,250 cc Revolution Max V-twin motor is seen here paying homage to Willie G's original 57 hp/67.9 ft-lb torque, dual exhaust XLCR, but with all black-carbon-fiber bodywork. 

Japanese-Made Motorcycle Exports to US

Japanese-Made Motorcycle Exports to US +15.11% YTD

The latest available data from JAMA (the automotive trade association in Japan, which includes representation of motorcycle manufacturers among its membership) shows Japanese made 250c c+ motorcycle exports down by -14.02% for the year-to-date at 39,587 units. January was down by -5.95% (19,596 units) with February down by -20.69% (19,991 units).

Conversely, Japanese made motorcycle exports to USA were +15.11% YTD (17,859 units) with worldwide motorcycle exports from Japan’s ‘Big Four’ home factories essentially flat at +0.31% (74,892 units).

In total PTW terms (all units/displacements) exports to Europe were -11.97% (41,332 units); +23.92% to USA (22,876 units) and worldwide +4.17% (86,907 units). 

For the record: Japanese made motorcycle exports to Europe were +7.57% in 2025 (235,603 units), and +5.87 to the USA (100,706 units).