Harley-Davidson

Harley-Davidson Q3 Results - "simultaneously not as bad and just as bad as expected"

Making his debut in the quarterly results hotseat, newly minted Harley President and CEO Artie Starrs fielded questions from analysts following release of a set of Q3 results that were simultaneously not as bad and just as bad as expected. 

The noise surrounding the results has primarily been focussed on the first (theoretically) beneficial impacts of the deal that Harley did with KKR and Pimco to offload HDFS loan debt. Though that move (in return for a 9.8% combined equity in HDFS) reduces the capital requirements that HDFS has, it also reduces the long-term benefits that HDFS (and therefore parent company HDI) accrue from fully controlling their loan-book revenue.  

A drill down into the details of the Q3 fiscals reveals some good news - namely that the decline in unit sales and reducing inventory levels are gradually heading towards a kind of balance with revenue, though not one that yet will provide a platform for growth. The ongoing bad news was that for a quarter that traditionally should be Harley's second strongest of the year, certainly in sales revenue if not also unit sales terms, it really didn't deliver.

Starrs is quoted as saying: "Our Q3 results demonstrate the positive impact of the HDFS transaction and reinforce the strategic value HDFS brings to Harley-Davidson's overall business model. 

"While retail sales remain challenged, I'm truly energized by what I've experienced across the Company, in dealerships, and with the broader rider community. While there is a lot of work ahead of us, our success begins with our dealers - when they thrive, Harley-Davidson thrives. 

"Going forward you can expect an intensified focus on the key drivers of sustainable growth: strong and profitable dealerships, growing the powerful connection riders have with our brand, locally relevant marketing, and capital-efficient growth."

There is a clue there. A clue that exposes just how weak the KKR/Pimco deal is. With most of the money being raised intended to be thrown at "shareholder value", the company still needs to be creative where the necessary capital resources to drive engineering and subsequent genuine growth is concerned. In this context "efficiency" looks a lot like stating that Harley is going to remain short of the capital resources it needs.

Commenting on the HDFS transaction, Jonathan Root, Chief Financial Officer and a man thought to have been a contender for the CEO job said: "The completion of the HDFS transaction with KKR and PIMCO marks a transformative milestone for Harley-Davidson. We are unlocking significant value while transforming Harley-Davidson Financial Services into a capital-light, de-risked business. 

"This transaction releases over $1.2bn in discretionary cash and sets the foundation for higher returns and sustained growth. Importantly, Harley-Davidson retains full control and majority ownership of HDFS - ensuring no change for our dealers or customers, which we believe continues to drive long-term value creation."

'Highlights' of the third quarter 2025 results include: 

• Global motorcycle retail sales down 6% versus the prior year
• HDMC revenue up 23% versus prior year
• Global motorcycle shipments increased 33% versus prior year
• HDMC operating income margin of 5.0%
• Global dealer inventories down 13%, compared to the end of Q3 2024, "as we continued to prioritize reducing global dealer inventory"
• New or increased 2025 implemented tariff costs of $27m in Q3 2025 (Harley says that it is now buying 75% of its domestic use components in the USA)
• Delivery of diluted EPS of $3.10
• HDFS operating income of $439m ("reflecting impact of HDFS transaction through end of Q3")

By way of an update on the HDFS Transaction, the company says that the Strategic Partnership with KKR and PIMCO "unlocks significant discretionary cash" and that the transaction includes three key elements:

1) Back Book Sale: Sale of approximately $6bn of existing HDFS loan receivables

2) Forward Flow Agreement: Sale of future HDFS loan originations

3) Sale of Equity Interests: Sale of a 9.8% common equity interest in HDFS to KKR and PIMCO

The deal is expected to unlock approximately $1.2 - $1.25bn in discretionary cash no later than the end of the first quarter of 2026 "as HDFS completes its debt reduction activities."

The deal was announced in July with headline ambition being to "transform HDFS into a capital-light, de-risked business model with HDFS expecting to continue to originate and service both new and existing retail loans."

In August, the sale of residual interests in securitized finance receivables of approximately $1.9bn (along with related debt of $1.7bn) was completed and October saw completed agreements for the Back Book Sale, Forward Flow Agreement, and Sale of Equity Interests.

The real news from the Q3 results came from the Investor and Analyst webcast Q&A though, with Artie Starrs outlining his priorities and plans. 

There will be more on that in the Comment 'Op-ed' in the December edition of AMD, but it is noteworthy that he is reinforcing the well-received 'good-start' he made before, after and at the October Dealer Forum in Milwaukee in October by talking to, and, importantly, listening to as many different dealer perspectives and opinions as possible and placing their needs and interests up front and center where future strategy is concerned.  

In terms of Q3 results detail, Global retail motorcycle sales were down 6% versus the prior year third quarter, "reflecting continued soft demand amid unfavorable consumer confidence, high relative interest rates, and inflation concerns."

North America retail performance was down 5%. International retail performance was down 9%, with EMEA weaker than the APAC region, and Latin America experiencing modest growth.

Consolidated revenue in the third quarter was up 17% versus prior year, driven primarily by a revenue increase of 23% at HDMC.

Consolidated operating income in the third quarter was up at $475m versus $106m in the prior year period, primarily driven by the HDFS transaction. At HDMC, operating income was down 2%. LiveWire segment operating loss improved by $8m, which was 30% lower than the prior year's loss.

Q3 HDMC Motorcycles revenue was up 34%, driven by global motorcycle shipments increasing 33% versus prior year. Parts & Accessories revenue was down 4% and Apparel revenue was up 1%.

Harley released a first tranche of MY2026 details in early November, with additional 2026 models, including the limited-production Custom Vehicle Operation (CVO) collection, slated to be revealed as a Second Chapter on January 14, 2026. Meanwhile Chapter One highlights include these three Solo Seat Trim Package models with cast aluminum wheels and seen here in Dark Billiard Gray paint. The Solo Trim Package is available for the Heritage Classic (United States MRSP $19,999), Street Bob ($14,999), and the Street Glide ($24,999).

Third quarter HDMC gross margin was down 3.7 points versus prior year, due to unfavorable operating leverage, the cost of new or increased tariffs implemented this year, and unfavorable foreign currency impacts. These factors were partially offset by the favorable impact of net pricing and mix. Third quarter operating income margin was down 1.3 points, while operating expense was $20m higher than a year ago.

LiveWire revenue for the third quarter increased by 16% versus prior year due to increased unit sales of electric motorcycles and electric bike units, partially offset by impacts from electric motorcycle pricing and incentives during the quarter. LiveWire's operating loss of $18m, $8m less than a year ago, was in line with our expectations.

In YTD terms HDI generated $417m of cash from operating activities, on an effective tax rate of 24%; paid cash dividends of $66m and repurchased $187m of shares (6.8m shares) on a discretionary basis. Cash and cash equivalents were $1.8bn at the end of the quarter.

Given that the global tariff and business outlook remains uncertain, especially for discretionary product purchases, the Company continues to withhold its full year HDMC 2025 financial outlook. For LiveWire, the Company is updating its previously issued guidance related to Operating Loss to $72-$77m. Its total net use of cash remains $50-$60m.

On October 4, HDI announced plans to enter into an Accelerated Share Repurchase (ASR) Agreement with Goldman Sachs to repurchase $200m of shares of the Company's common stock. This announcement is part of the previously announced plan to repurchase $1bn in shares by the end of 2026. The Company expects the transactions under the ASR agreement to be completed by no later than the first quarter of 2026.

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Design notes - formatting

at this stage illustrate with logo; 

Artie Starrs pic - we could use the one from the front cover of # 316/Sept or raid this link for a fresh one here Harley-Davidson - Governance - Board of Directors

Plus, plunder the MY2026 material for this three, solo trim package bikes pic from here … 

https://h-dmediakit.com/us/news-articles/harley-davidson-reveals-select-new-2026-motorcycles-shipping-soon-to-worldwide-authorized-dealerships.html#66227

Captioned:

Custom Chrome Europe

Custom Chrome Europe "back on track" with two new European investors

After its 'self-administration bankruptcy protection' in June, Custom Chrome Europe (CCE) is now poised to emerge from the process and set to resume its comprehensive show program with booth space at the Custombike Show at Bad Salzuflen in northern Germany at the end of November (November 28-30).

The new owner is one of the partners in Austrian engineering and manufacturing company RWT Hornegger & Thor GmbH – "a world-renowned high-tech CNC machine company active in the production of aviation, automotive and motorcycle prototypes and components, owned and operated by Managing Directors Hannes Hornegger and Reinhard Thor. 

Founded in 1999, RWT moved to new purpose-built manufacturing facilities in 2003 that were further expanded in 2023 to offer over 2,000 sq m of manufacturing space (approx. 20,000 sq ft) for its team of around 30 employees - with RWT AG becoming a new supplier for Custom Chrome Europe, "continuing and strengthening the strategy of having a strong Europe based supply chain that alongside being able to present the many of the main names brand names in the V-twin industry."

The popular CCE Bolt-On-And-Ride custom bike make-over program (BOAR) that has been running for nearly two decades will continue, with designs by many leading customizers, including Thunderbike in Germany.

This marks a new chapter for a business that traces its origin story right back to the earliest days of the V-twin parts and accessory aftermarket in Europe itself - as Tom's International.

Tom's was acquired by the then Morgan Hill, California based Custom Chrome Inc. (aka Global Motorsports Group) business in 1996. The identity was changed to Custom Chrome Europe in 1997 with the first parts catalog to carry that name being published in Europe in 1998.

Custom Chrome Europe will be present at the 2025 CUSTOMBIKE in Bad Salzuflen November 28th-30th 2025, Hall 20, booth C15

www.custom-chrome-europe.com

News Briefs

The controversy surrounding Harley's choices of Independent Board Directors shows no sign of abating. As campaigned for earlier this year by investor and Hedge Fund H Partners, Directors Sara Levinson and Tom Linebarger have now retired from the Board. Harley's first female Board Member, Levison was a successful former entertainment, media (MTV), sports (NFL) and technology industry executive has served on the Harley board since 1996. Linebarger, a former investment analyst and Chairman/CEO of Cummins (until 2002) joined in 2008. Both served on the Human Resources, Nominating and Corporate Governance and Sustainability and Safety Committees. Their replacements as independent directors are Daniel Nova, a General Partner of Highland Capital Partners, a venture capital fund; and Matt Reintjes, President and Chief Executive Officer at YETI Holdings, Inc. (NYSE: YETI) - a Texas based seller of YETI brand products for the outdoor and recreation market - FMCG (low price, high volume) products like ice chests, vacuum-insulated stainless-steel drinkware, soft coolers, dry bags and the like. In a release, Presiding Director Troy Alstead "talked both appointments up" of course, but neither has an engineering, manufacturing or motorcycle industry background or any discernible directly relevant segment experience. 

Parts Unlimited has added a new sales rep for the South-Central region covering Georgia and Alabama - Ryan Kessinger. He comes to comes to Parts Unlimited with experience in parts sales at the dealer level. His experience comes from a stint at Stark Future based in Barcelona, Spain. 

In its 'late-model' annual, pre-Christmas incarnation, INTERMOT (Cologne, 4-7 December 2025) is promising "maximum visibility, high-quality contacts, long-term customer relationships - in person". The organizers (Koelnmesse and IVM) state that "this is where you can connect with your target groups - and bring even more industry success within your grasp. High purchasing power meets direct sales" with "an audience fully focused on new models, products and brands" backed by "unrivalled specialised trade, community and new target groups digital reach and powerful live experiences"; www.intermot-cologne.com

Irvine, California based Performance Brokerage Services (PBS) has announced the sale of Harley-Davidson of Carroll in Iowa from Terry Ruchti to Steven Towers. Ruchti has owned H-D of Carroll for over three decades and helped establish the annual "Rock-N-Ride" event some 20-years ago. This is the fourth Harley dealership that PBS has helped Steven Towers acquire. Terry Ruchti and his wife Zoe are retiring. Towers' first dealership acquisition was of Boneyard H-D in Winterville, NC in 1923.orth Carolina, followed by Frontier H-D in Lincoln, Nebraska in 2024, and Historic Harley-Davidson in Topeka, Kansas in 2025. H-D of Carroll will be renamed Towers' Legendary Harley-Davidson, but will remain at its current location at 1327 Plaza Drive in Carroll, Iowa; performancebrokerageservices.com

Indian Motorcycle has appointed 'Revolutions' as its newest full-service Indian Motorcycle dealership in Scotland - at Perth. A family-run business with a long history of specializing in heritage brands, Revolutions' 8,000 sq. ft. facility is located just off Perth's renowned "Motor Mile" - just 90 minutes or 90 miles from 90% of Scotland's population. Revolutions is Scotland's only official dealer for Morgan, Caterham and Norton Motorcycles, and is a Royal Enfield dealer; www.revolutions.uk.com

A national study by Moto Canada and the Canadian Quad Council (CQC) has found that Canada has 88,485 miles (142,000 km) of powersport trails for ATV, SxS, MX and adventure motorcycle use - making its off-road trail network is among the largest in the world. The study also revealed that the off-road market has a CAN $10.3bn annual economic impact, generated $4.2bn of tourism spending, saw 184,000 volunteer hours annually and had 663,300 registered trail users in 2025 with 1.2 million off-road vehicles recorded in Canada; www.motocanada.com

Finnish electric motorcycle manufacturer Verge is to offer its rim mounted motor drive concept to other manufacturers. The company has created a division called Verge Next for this and other components that it thinks can be propagated across the electric PTW ecosystem. The motor is mounted firmly on the rear frame, around which the spokeless (and therefore hubless) rear wheel rotates - as if on rails. The concept was developed by partner company Donut Lab, and the motor is available in various sizes; www.vergemoptorcycles.com

The AMA Motorcycle Hall of Fame

Chris Carter among AMA HoF Class of 2025

The AMA Motorcycle Hall of Fame inducted its 2025 Class in October, welcoming six new members. 

Inductees included racer, rider and volunteer Dana Bell, Colin "Texas Tornado" Edwards, Flat-Track 'GOAT' Joe Kopp, AMA Supercross and Pro Motocross racer Chad Reed, American trials great Ryan Young and legendary 1976 FIM International Six Day Trails (ISDT) gold medal winner and businessman Chris Carter.

A revolutionary figure in the motorcycle industry, Chris Carter has served as a faithful ambassador to motorcycling for much of his life. As a racer, Carter excelled at the highest levels of competition.

Eight years after he won his ISDT Gold in Austria Carter was approached by a Taiwan-based cable company asking if he would be interested in representing the brand in the U.S. Carter seized the opportunity, and thus began the still prospering cables and tools specialist Motion Pro, Inc.

Motion Pro has blossomed into one of the industry's leading brands, with more than 30 patents to its credit. The brand also holds more than 100 annual sponsorships of racers, teams, organizations and events.

"To be recognized among legends who have shaped and propelled the motorcycle sport & industry forward is an honor beyond words," Carter said. "I want to thank the Hall of Fame committee and the AMA life-members for this incredible recognition. It's not just a personal honor; it's a testament to the countless individuals who've ridden this journey with me - colleagues, mentors, and friends."

www.americanmotorcyclist.com

www.motionpro.com

Drag Specialties Milwaukee NVP

Drag Specialties

Milwaukee NVP Product Expo Review - Part Two

September 6-7, 2025

Legend Suspensions: New from the Sturgis, SD based manufacturer, the AXEO 47 mm inverted front fork cartridges bring race-style 'asymmetrics' to the CVO Road Glide with the choice of Performance or Comfort settings in one set-up. The external preload adjuster allows quick tuning for load and riding style, while the performance spring rate makes for agile handling without sacrificing comfort"; www.legendsuspensions.com

LA Choppers: Former Burly Brand, Progressive Suspension and Performance Machine, and latterly Bitubo suspension man Sean Delshadi is now the Marketing Manager at LA Choppers; www.lachoppers.com

RWD V-Twin: Dustin Boyko, formerly of LAChoppers/Tolemar Group has bought Russ Wernimont's V-Twin fenders and shock absorbers programs. Legendary fabricator and designer Russ Wernimont has long been known for his high-performance suspension systems and premium Harley-Davidson fenders and accessories. "With decades of experience and a deep understanding of rider needs, Russ built a brand that earned respect throughout the V-Twin community." Dustin Boyko brings over 15 years of experience in the Powersports industry. Prior to this acquisition, Dustin's vision for RWD V-Twin focuses on "expanding product offerings, continuing to provide great customer service, and growing the brand's market presence"; www.rwdvtwin.com

Drag Seats: Available in an optional extended reach version, the Minneapolis-based manufacturer's new 'Freedom' touring seat for FL models features a 6" tall driver support with unique styling. The seating area is contoured for maximum comfort and is made narrow up front for better leg clearance. The seat works with the separately available EZ Glide frame-mounted receiver mechanism to accept driver backrest assemblies; www.dragspecialties.com

KB Pistons: Carson City, Nevada-based United Engine and Machine (UEM) KB (Keith Black) brand performance pistons are made in cast hypereutectic 390 and forged 4032 low expansion alloys. For V-twin applications the 4032 is preferred for high performance or high compression applications and offers offset wrist pins for quiet engine operation. All applications now come equipped with coated skirts for reduced friction between the piston and cylinder wall. The low expansion alloys allow for a tighter piston to wall running clearance, which aids in reducing piston rock and engine noise. The company's new "Super Duty Series" includes anodized top ring grooves and crowns along with Line2Line Adaptive Skirt Technology coating; www.uempistons.com

JIMS: The respected Camarillo, California based performance parts and tools manufacturer is now close to starting to ship its already award-winning FAT-6 bolt-in stock replacement transmission. First announced six months ago after more than 12 months of development work had brought them close, the FAT-6 is described as a "a rock solid, 'bolt-in' performance upgrade for the stock, O.E.M. six-speed transmission. With gears manufactured from aerospace grade 9310 American steel (known for its high core strength, toughness, hardenability and high fatigue strength) that have been tested up to 550 lbs of torque, the gear teeth are straight cut and have been increased up to 53% in width, when compared to stock gears, for additional load capacity and strength; www.jimsusa.com

Bagger Nation: Paul Yaffe, of Paul Yaffe Originals (PYO) and Bagger Nation Fame has a super selection of super clamps with style choices and tech specs optimized for a wide range of applications and model styles. The all-new Super Digital Riser Clamp for 1" bars and OE or KOSO gauges is CNC-machined from 6061-T6 aluminum anodized in a choice of black or gold. The patented Bagger Nation Weld Wing Super riser clamp is a practical front-end tidy-up that protects and adds detailing for a custom look. The patented "No-Slip" Weld Wing Super clamp covers the unsightly welds and steps up 1.25" handlebars; www.paulyaffeoriginals.com

DENALI Electronics

Twisted Throttle - Seeing The Light?

Serial entrepreneur Erik Stephens, founder of Twisted Throttle (TT - Rhode Island) and DENALI Electronics have "seen the light" (!) - LED lights to be exact, and finally decided that DENALI Electronics has eclipsed the available business opportunities that third party distribution represents.

A common story, he had started TT in a garage in 2002, and went on to specialize in international brands, importing products such as SW-MOTECH luggage and MRA screens from Germany, Barkbusters handguards from Australia, South African Kaoko cruise controls and R&G protectors from the UK. "Together, we brought world-class motorcycle accessories to North America and grew from a one-man shop to a thriving 27,000 sq ft operation with a team of over 30," said Erik.

"Along the way, we discovered a new passion: designing and building products ourselves. What began as a single LED driving light kit grew into DENALI Electronics - now our flagship brand, at the heart of our business and sold worldwide." 

Today, DENALI, Vision X Lighting, and Projecta Power - "the brands owned by DENAALI represent our future. To focus 100% of our energy here, we've made the difficult decision to phase out Twisted Throttle's role as a distributor of other manufacturers' brands. We'll be closing out inventory through the end of the year and helping our dealers transition to direct relationships with each manufacturer."

These days DENALI is owned by Brown and Watson International (BWI) of Australia, and Erik says "this isn't the end - it's a new beginning. The Twisted Throttle team isn't going away. We're taking the next step in our journey, committed to helping riders stay safe and adventure further with DENALI Electronics."

www.denalielectronics.com

MIC

MIC Reports Domestic US Motorcycle Sales -7.3% YTD

For the first 9 months of 2025, the MIC is reporting that among leading brands, sales of new motorcycles and scooters decreased -7.3% through the third quarter of 2025 compared to the same period the previous year. ATVs decreased -2.2% among leading brands.

The already relatively small US Scooter segment is under the greatest pressure, with YTD sales (to September 30, 2025) down by -31.8% YOY at 9,169 units (-4,280 for the period).

The least negatively impacted segment is the Off-Highway PTW market (Powered Two Wheelers) at -4.6% (96,162 units YTD, -4,624 YoY). On Highway motorcycles are down by -6.8% (230,797 units from 247,604 for the year-ago) with ADV sales ('Dual Sport') -8.4% at 57,534 units (down from 62,822 for the first nine months of 2024).

The total motorcycle market was worth 393,662 units for the first three quarters of 2025, compared to 424,661 for the year-ago. ATV and related unit sales were modestly down at 126,220 units from the 129,016 sold for the same period in 2024.

Motorcycles and scooters accounted for 75.7% of total new-unit sales through Q3, and ATVs represented 24.3%. 

www.mic.org

Magnum Shielding

Premium Ergonomic 'Ghost Riser' 

Upstate New York based brake line, control cable and handlebar manufacturer Magnum's new 'Ghost Riser' "sit at the intersection of performance and cosmetic design."

8" chrome plated Ghost Riser with M8 compatible top clamp

CNC machined from 6061 aluminum for strength and precise fitment, Magnum states that "riders can expect the highest level of quality, easy installation, and confidence on the road."

10" Contrast Cut Ghost Riser

Available in polished black anodized, chrome plated and contrast cut finishes for a handlebar color match, they feature 1.5" of pullback for optimal ergonomic comfort - with a smooth, arcing profile for a pleasing, integrated custom look.

10" black anodized Ghost Riser with standard top clamp

They are offered in 8" and 10" heights - so all rider and end-rise preferences are accommodated. The 'Ghost Riser' is sold in 1" or 1  1/4" clamping diameters and your customer's choice of standard or M8 Softail digital display top clamp - all made to fit bikes without a batwing fairing and with a standard 3.5" fork center to center location.

MAGNUM SHIELDING

www.magnumshielding.com

AMRA

AMRA Nitro Harleys Get One Round in at Bowling Green

Beech Bend Raceway, September 19-21, 2025

The huge crowd of V-twin culture junkies that descended on Bowling Green, Kentucky's Beech Bend Raceway got at least one sunny day of action in at the PennGrade1 AMRA D.C. Jones Memorial Fall Nationals. 

After a full day of Harley-Davidson drag racing qualifying on Saturday, Sunday broke out with anything but sun. Rain finally eased to allow one round of Nitro-Harley and some pro gas class eliminations before returning and washing out the rest of the event.

Ohio racer Ryan Peery qualified number one (6.43 at 213 mph) in Johnny Mancuso's Circle M Ranch Top Fuel and advanced handily out of round one past Michael Balch on Red Rhea's bike. "Sometimes Mother Nature sucks!" said Peery, whose program has come together so well that he won the IHRA race the following weekend. 

Points leader heading into the season finale at the Rockingham Raceway in NC was Finland's Samu Kemppainen, whose lead coming into Beech Bend was 1070 to Peery's 885. He qualified just behind Ryan with a 6.488 at 215 and easily advanced past Peery's teammate Buddy Johnson in E1.

Bad Apple Racing's Cameron "Flash" Gunter qualified number one at Byron Illinois in the Armon Furr Nitro Funnybikes but blew up on his very first qualifying pass at Beech Bend and was done for the weekend. 

That left Jordan Peterson qualified number one at Beech Bend (7.03 at 176) on the Phil Lower-owned bike, tuned by Mike Romine. Then he got the solo pass in E1 when Gunter couldn't make it.

In the Hawaya Racing Pro Fuel lightning struck twice for Curt Sexton. After bending a rod and torching the head in Bryon, Illinois the same happened in the first round at Bowling Green. Running a back-up motor, he ran a 7.277 on Sunday morning but it was Mary Dangrow who qualified number one with a 7.32 at 167, then ran those numbers again in her round 1 win over Kyle Rogers. 

Pro Outlaw ran their one round to completion, with Billy Doherty blowing the tire off his Pro Modified bar bike and losing to number one qualifier Jerrick Spinal and his turbo Bagger.

Jeremy Williamson was number one qualifier in Zipper's Performance Pro Bagger. The class was interrupted in E1 by the final shower that ended the day.

Russ Johnson qualified number one in Zipper's Performance Modified, Robert Alther qualified number one in Huffman Performance Super Gas, John Powers number one in Pro Eliminator 10.90, Chris Hoppe in Top Eliminator, Nick Boey in Thundermax Street Bagger, Jason Crisp in Axtell Cylinders Hot Street, John Shotts in BK Electric Super Pro 10.30, and John Poett III in Thundermax Street Eliminator 11.50.

Once the weather had forced a finish there was nothing for it but for the teams to wonder what might have been, pack-up and reconvene at Rockingham on October 25-26 for the Jim McClure Finals at Rockingham. 

www.eatmyink.com, www.amralive.com

BSA

BSA revives the Bantam name 

By Ben Purvis

The BSA brand has been part of Indian giant Mahindra's portfolio since 2016 and after a low-key revival in 2022 with the launch of the Gold Star 650 its reviving the Bantam name on a new 334 cc single for 2026.

The Bantam 350 is a direct rival to the likes of Royal Enfield's HNTR/Hunter 350 and Honda's fast-selling GB350S, but in its UK launch market it undercuts both in terms of price while offering a useful advantage in terms of power. 

That's because despite its retro styling, it doesn't adopt the SOHC, air-cooled layout that Honda and Royal Enfield have chosen for their competitors. Instead, the BSA borrows a 334 cc liquid-cooled, DOHC single from another of Mahindra's 'Classic Legends' brands, Jawa. The motor also has an oversquare bore/stroke ratio where both the GB350S and Enfield's 350 cc range use long-stroke, under-square designs that prioritise torque over power. 

The result is that the BSA Bantam 350 puts out 29 hp at 7,750 rpm, around 10 hp more than either of its main rivals, while offering 40 Nm of torque at 6,000 rpm. So you have to rev it harder than its rivals, but there's more performance to be found if you do so. 

To suit the higher revs, there's a six-speed transmission where both Honda and Royal Enfield make do with five ratios, and even though there's the extra weight of a liquid cooling system and radiator, it's only a fraction heavier than its rivals, with the BSA coming in at 185 kg where the Hunter 350 weighs 181 kg and the GB350S is 178 kg.

The chassis is as simple as you'd expect from a low-cost, retro-inspired bike - a simple steel frame, dual shocks and right-way-up forks. There's minimal adjustability, with just five steps of rear preload on offer and no way to alter the damping at either end. Meanwhile the forks sit at a surprisingly relaxed 29 degrees of rake, suggesting that stability is prioritised over nimbleness. 

BSA might have launched the bike in the UK, but the company is spreading its reach around the world, with sales networks as far afield as Japan, New Zealand, the Philippines and the USA as well as major European markets like Spain, Germany, Italy and France. India, too, is planned to be a major market for the brand.

2026 MotoGP

2026 MotoGP calendar for final 1,000 cc year

The provisional 2026 MotoGP schedule, the first to be released under the imprimatur of new Dorna Sports owner Liberty Media (Colorado, USA) again includes 22 Grands Prix on five continents. 

A highlight will be the return of the Brazil GP for the first time since Makoto Tomada’s win for Honda in 2004 - the new venue for the Brazilian race will be Autodromo Internacional Ayrton Senna at Goianai near Brasilia. 

This will be the final season before the 1,000 cc formula (introduced in 2012) switches to 850 cc for 2027. The season opener is still slated for Thailand but an alternate city and venue to Bangkok is expected to be announced shortly. 

The casualty for 2026 is the Indian GP, due to ongoing logistical and financial issues since its inaugural race in at the Buddh International Circuit in 2023. 

Argentina's race at Termas de Rio Hondo also falls off the 2026 calendar, but it is expected to return in 2027 at a new location in Buenos Aires. 

2026 H-D Bagger World Cup

The plan to run Harley-Davidson Road King 'Bagger Racing' at select MotoGP rounds in 2026 is confirmed. Launched at the Austrian GP at the Red Bull Ring, Speilberg, Austria, in August, the 2026 Harley-Davidson Bagger World Cup is essentially a 'Company Cup' with their Race prepared Road Kings as the 'spec' bikes.

Carlos Ezpeleta, Chief Sporting Officer at Dorna Sports said: "We're always looking for ways to innovate and expand - staying faithful to what fans love about MotoGP but finding ways to connect with new audiences. The Harley-Davidson Bagger World Cup fulfils the brief. 

www.motogp.com

Klock Werks

Flares For PowerPlus Indians

Mitchell, SD based Klock Werks has extended its award-winning Flare Windshields offer to include 2025 and newer Indian Chieftain and Roadmaster PowerPlus models.

Known for their advanced air flow management designs, "the Flare Windshield is widely recognized as the single most impactful upgrade a rider can make," says Brian Klock. 

Dark Smoke

"With its patented design, it reroutes airflow to maximize the riding experience for both rider and passenger while reducing fatigue on long trips. The Flare's signature 'hips' push turbulent air away from the motorcycle, creating a smoother ride, while the distinctive 'flip' at the top directs air up and over the cockpit, improving helmet stability, reducing wind noise, and enhancing audio performance."

Manufactured in the United States, every Flare Windshield is built from high-quality Lexan polycarbonate, a material trusted by riders for its durability and resilience against the elements, road debris, and, for one rider, more than 400,000 miles of open-road use. 

Tint

Klock Werks stresses the importance of selecting the right windshield height for optimum performance. The company recommends riders choose a Flare Windshield size that allows them to look over the shield rather than through it. Installation is straightforward, and each windshield ships with complete instructions for a quick upgrade.

"Klock Werks was honored to be on an aftermarket advisory board back in 2013 as Polaris first bought Indian Motorcycle," said Brian. "Since those first models we have supported the Indian Motorcycle community now for 12 years running, may the success continue with these new PowerPlus models."

The Flare Windshield for the 2025+ Indian Chieftain and Roadmaster PowerPlus is available now through Klock Werks and authorized dealers.

KLOCK WERKS

www.getklocked.com

Zodiac International

Zodiac - VPerformance for Sportster S

Zodiac International has added the Italian-made performance exhaust line, with this Black E-approved muffler kit available for the 2021 and up RH1250S Sportster S.

This set of single collector and two mufflers with built-in catalysts replaces the stock silencer unit and re-uses the stock front and rear exhaust header. The mufflers feature removable dB killers - but note that removal of the dB killers voids the E-approval. 

www.zodiac.nl

www.qdexhaust.it

Freedom Performance Exhausts

Softail 2-Step Slip-ons

Corona, California based Freedom Performance Exhausts is inviting its dealers to upgrade customers' 2025 Softails with a choice of two styles of new 4" and 4.5" 2-step slip-ons.

Offered in bright chrome or classic, sleek matte black, the slip-ons offer a personalized look and upgraded 2-step performance in one simple, fully reversible modification free, 49-state street legal install.

Freedom Performance CEO Martin Artega says: "We guarantee compatibility with all 2025 narrow-tire configurations and, as a slip-on, there's no need to remove the catalytic converter in the OEM stock header."

Fitments include Heritage, Low Rider S/ST, and Street Bob 2025 models only. "These hassle-free install slip-ons also deliver the kind of commanding tone we all love and the kind of noticeably crisp throttle response we all appreciate."

FREEDOM PERFORMANCE EXHAUST

www.freedomperform.com

Additional recent additions from the Freedom Performance crew include customizable 2-step 4" and 4.5" chrome or black slip-ons for the Moto Morini Calibro 700/Bagger. A model series that has enjoyed near cult status in Europe in recent years, the Moto Morini Calabro is now starting to gain traction in the United States too. 

Arlen Ness

The Classy Way to Lose Weight and Add Strength

Arlen Ness have added these 12-Point windshield bolt kits to their recently introduced, high class and fast-growing range of 12-Point titanium hardware kit options.

Available in black, polished or gold finish.

Solid titanium - spot drilled head and lightning hole design on the bolt flange.

CNC machined from solid titanium, each 12-Point bolt is meticulously CNC machined, featuring a spot drilled bolt head and lightning hole design on the bolt flange. 

Reduced weight over factory and other stainless steel hardware alternatives delivers increased strength and durability as well adding that classic touch on 'Ness' class. The give a custom finishing touch to one of the most visible areas on the motorcycle.

The kit includes all the needed bolts (four) for mounting the windshield on 2015-2023 and 2024-up Road Glide models. They are available in black, polished or gold finish. 

Lifter block, cam cover, primary and gas cap kits also available. 

ARLEN NESS ENTERPRISES

www.arlenness.com

Polaris

Polaris Reports Q3 All Segment Sales Up By 7%; Indian Unit Sales Tracking Market at Down Mid-Single Digit Percent

Polaris Third Quarter results saw sales of $1,842m, up seven percent compared to last year; adjusted sales were $1,838m; Q3 reported diluted loss per share was $0.28; adjusted diluted net income per share was $0.41.

Primary factors affecting Q3 sales were higher than expected shipments and ORV mix; Q3 year-to-date operating cash flow was $562m; Q3 market share gains in off-road vehicles (ORV) and motorcycles.

Powersports retail sales for the quarter were up nine percent versus last year. ORV retail sales were up nine percent.

Polaris CEO Mike Speetzen commented that "I'm incredibly proud of the Polaris team - their efforts are reflected in this quarter's performance. Polaris delivered strong third quarter results with $1.8bn in sales. 

In addition to the On Road and Marine businesses outpacing their respective industries, we achieved meaningful market share gains in Off Road in the quarter. Our operational discipline, dealer inventory alignment, and innovation pipeline have us positioned to deliver for dealers and customers, drive profitable growth and create greater value for our shareholders. 

"Building on our current momentum, we remain committed to executing our long-term strategy and I am confident in the Polaris team's ability to finish the year strong."

In remarks to analysts when these fiscals were released, Speetzen added clarity to the remarks that accompanied the announcement of the sale of a majority position in Indian Motorcycle by further emphasising that the benefits of the deal were increasing capital availability for ORV operations availability and increasing the return they feel they can achieve on that capital.

Rather than suggesting the decision was driven by negativity about Indian Motorcycle as such, he confirmed that it was more a question of the challenges facing the motorcycle industry in general. He stated that the deal "allows us to focus on our most promising, high margin higher growth opportunities."

Reporting worldwide sales were $1,842m, up seven percent versus Q3 of 2024. North America sales of $1,586m represented 86 percent of total Company sales and increased eight percent from $1,473m in 2024. 

International sales of $256m represented 14 percent of total Company sales and increased two percent versus Q3 of 2024. 

Total Company Q3 sales of 2025 were positively impacted by product mix. Gross profit margin increased six basis points to 20.6 percent for Q3, as compared to the third quarter of 2024. 

Adjusted gross profit margin of 20.7 percent decreased eight basis points primarily driven by tariffs and incentive compensation headwinds, partially offset by mix and operational efficiencies compared to Q3 of 2024.

Operating expenses were $380m in Q3 of 2025 compared to $313m in Q3 2024, primarily due to a non-cash property and equipment impairment charge and increased general and administrative expenses. Operating expenses as a percentage of sales, were 20.6 percent, up 247 basis points in Q3 of 2025 compared to Q3 of 2024.

For Q3, net loss attributable to Polaris was $16m, or $0.28 net loss per diluted share, compared to net income attributable to Polaris of $28m, or $0.49 per diluted share, in Q3 of 2024. Adjusted net income attributable to Polaris for the quarter was $23m, and adjusted EPS was $0.41.

Third quarter 2025 results included a $42.3m impairment charge related to certain property and equipment assets in the Company's On Road segment.

On Road segment sales were driven by lower volumes and continued market softness. PG&A sales increased six percent. Gross profit margin performance was driven by negative product mix, partially offset by strong performance at Aixam (Quadricycles, Aix-les-Bains, France). 

North America unit retail sales for Indian Motorcycle were down mid-single digits percent. Estimated North America unit retail sales for the comparable motorcycle industry were down mid-single digits percent.

Off Road segment sales were driven by positive product mix in off-road vehicles. PG&A sales increased 22 percent; gross profit margin performance was driven by positive product mix and operational efficiencies.

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

Marine segment sales were driven by increased volumes of entry-level pontoon. Gross profit margin performance was impacted by negative mix.

2025 BUSINESS OUTLOOK

The Company reintroduced updated 2025 full year adjusted sales and adjusted EPS guidance. The Company now expects 2025 adjusted sales to be between $6.9bn to $7.1bn and adjusted EPS down by approx. -$0.05.

SP Concepts

Beauty and The Beast - SPC 'Black Onyx' Performance Exhausts

Lake Elsinore, California-based exhaust manufacturer SP Concepts debuts its new lineup of Black ONYX performance exhaust systems. 

An industry first in the V-twin exhaust market, SP Concepts uses a ceramic coating, and a specialized prep process to ensure the amazing color in the welds remains after spraying. 

"We've been toying with the idea for a while now, after doing a couple SPC badges we started wondering how much more badass it could look to leave all the welds exposed," said company co-founder Greg Miranda. 

"Honestly, we cringe a little bit inside every time someone orders a black system knowing that all those beautiful welds will be covered up. But now they get the best of both worlds. Black coated exhausts are nothing new to the marketplace, but combining amazing tig welds on a premium stainless material that can now showcase both is a gamechanger for Harley Davidsons." 

Black ONYX is available for every model exhaust SPC produces, and can be added to its entry level 'Lanesplitter' all the way up to the super-premium Works Edition and Pro Flo systems.

SP CONCEPTS

www.spcexhausts.com

News Briefs

The Massachusetts Joint Committee on Consumer Protection and Professional Licensure has advanced a new draft rule that specifically excludes off-highway vehicles from the definition of children's products. A previous version of the bill would have included youth OHV products in the wider PFAS prohibition, effectively banning these products from sale in the state.

New Harley CEO Artie Starrs has gotten off clean in terms of LiveWire taint. Jochen Zeitz' role as LiveWire CEO is being taken over by Harley CFO and President of Operations Jonathan Root - the board's original, late 2024 preferred choice as Jochen Zeitz' H-D CEO replacement - until investor and Hedge Fund H Partners decided it wanted skin in that game. Zeitz has served as LiveWire's board chair since September 2022 when Harley-Davidson spun off LiveWire (NYSE: LVWR). Harley still holds about 90% of LiveWire stock, and Harley executives fill the majority of LiveWire's board seats. Karim Donnez remains as CEO of LiveWire, a role he has held since June 2023. Based in Milwaukee, it manufactures and sells electric motorcycles and STACYC electric balance bikes. It recorded $8.6m in net revenue the first six months of 2025 compared with $11.4m during the same period of 2024. The company posted an operating loss of $38.9m the first six months of this year compared with an operating loss of $58.6m a year earlier. The company recorded declining sales in 2024 and this year so far, posting net losses totaling over $200m combined in 2023 and 2024. Doubt we'll be hearing a big fat shout of 'Thank You' from Mr Root for what is, undoubtedly, a poison chalice of a consolation prize. The fact that the CEO post has not been handed to the new Harley CEO is the clearest signal yet that LiveWire's race is run.

Energica in Italy looks to be on the comeback trail after its bankruptcy and subsequent liquidation. Global Sales Director Stefano Benatti has announced the completion of a sale to a Singapore based group of investors. Founded at Modena in 2014, he says that the new iteration of the company will continue with a new financial base and the same development team; www.energicamotor.com

The Specialty Equipment Market Association (SEMA) has acquired off-road industry organisation ORBA (Off-Road Business Association). "The new partnership supercharges the aftermarket industry leader's support of off-road industry's business and advocacy needs." ORBA represents businesses and professionals in the off-road and powersports industries (motorcycles, ATVs, side-by-sides, snowmobiles). The synergy arises from the fact that off-road products and services are the largest and fastest-growing segment of the automotive aftermarket industry. However, the move is being seen by some as a power-grab - one that further weakens the powersports industry's distinct identity; www.sema.org

The NHRA celebrates its 75th anniversary in 2026 and has announced what it describes as a "historic 2026 Schedule for our 75th Anniversary Season". There are 20 races in the NHRA Mission Foods Drag Racing Series that features national events at two new facilities - South Georgia Motorsports Park just outside of Valdosta, Ga., on May 1-3 at the sixth event of the season, and  Maryland International Raceway, just outside of Washington, D.C., on May 29-31; www.nhra.com

Billy Joel's Long Island, NY vintage motorcycle shop is set to close after 15 years. The motorcycle enthusiast opened his 20th Century Cycle in Oyster Bay, NY, in 2010, not far from where he grew up in Long Island. He set it up as a place to store and repair his motorcycles and showcase his collection, free to the public. His collection of vintage bikes dates from the 1940s to the 1970s and includes a 1977 Harley-Davidson XLCR and a 1952 Vincent Rapide as part of a 75-bike collection that features Triumphs, Ducatis, Moto Guzzis, Indians, and BMWs - primarily mid-20th-century motorcycles.

The provisional 2026 WorldSBK schedule, the first to be released under the imprimatur of new Dorna Sports owner Liberty Media (Colorado, USA) again features 12 rounds. The season will kick off at Australia's Phillip Island in late February and wrap up in Jerez, Spain, in mid-October. 2026 will see a debut of the WorldSPB class in Portimao, alongside earlier dates for Aragon and Balaton Park (Hungary - which is retained after its 2025 debut), while Cremona shifts to a September slot; www.worldsbk.com

American Prime Mfg. (APM)

After 50 years of SU Eliminator 2 Carbs, APM announces the Eliminator 3 

It was 1908 when a certain George Skinner received a patent for a carburettor with a 'collapsible chamber' and a 'fuel needle valve'. Two year later he formed the 'SU Company' (SU = 'Skinners Union') and the rest is history. 

Car drivers had already been saying thank you for decades (especially Jaguar drivers) when Mel Magnet started to re-work automotive SU Carbs (in his garage!) for Harley-Davidson use. The first customer that Mel and his business partner John Ventrigliara sold to was Bianchi Motors of San Francisco, in 1972.

Using an SU carb from Mel and John, in 1974 Dave Mackie's 74" shovel became the fastest stock production H-D. Though the design has been refined since Skinner's day, especially as manufacturing techniques have evolved (as the SU Eliminator 2) the basics of Skinner's concept have proven robust - it still remains a go-to for Panhead, Knucklehead and Shovelhead performance applications.

In 2017 American Prime Mfg. (APM) took up the mantle of the legendary S.U. Carburettor and has been offering new units and replacement parts ever since. The Eliminator 2 has been providing smooth, even power and torque throughout the entire power band, with excellent cold-start characteristics and drivability, for over 50 years.

"coming to a Pan, Knuckle or Shovel near you soon"

Though originally intended for aircraft and automotive use, it has proven to be the 'Gold Standard' for performance when adapted for use on the early American V-twins, giving added potential over the entire RPM range.

Now, the news that everyone who loves those early Big Twins was hoping to hear one day - APM is stepping up to the plate for all the diehard SU fanatics out there, as well as newbies who want the ultimate in old school looks and performance for their vintage H-D motorcycle. 

While new S.U. Eliminator parts that are being added weekly, there is going to be an update soon with the introduction of the brand new APM Eliminator 3. More details when we have them!

AMERICAN PRIME MANUFACTURING

www.americanprimemfginc.com