Dates / venues subjectto change orcancellation .(*) Som e dates provisional ." Check before you buy "

Tokyo Motorcycle Show ( 52nd ) Tokyo , JP • Mar 28-30

Donnie Smith Invitation Bike Show ( 36th ) St . Paul , MN , US • Mar 29-30 www . donniesmithbikeshow . com

Kickback Custom , Classic & Stuntbike Show Malvern , GB • April 13-14 www . kickbackshow . com

Arizona Bike Week ( 28th ) Scottsdale , AZ , US • Apr 2-6 www . azbikeweek . com

Biltwell 100 Desert Race Ridgecrest , CA , US • Apr 5-6 www . biltwell100 . com

Handbuilt Tallahassee , FL , US • Apr 10-13 www . revivalcycles . com

The One Show Portland , OR , US • Apr 18-20 www . the1moto . com

H-D Love Ride CH Debendorf , CH • May 4 www . loveride . ch

H-D Euro Festival Port Grimaud , FR • May 9 events . harley-davidson . com

Rheinhessen Rumble Genigsen , DE • May 9-11 www . rheinhessenrumble . de

Myrtle Beach Bike Week Spring Myrtle Beach , SC , US • May 9-18 www . myrtlebeachbikeweek . com

Feria de las 2 Ruedas Medellin , CO , US • May 15-18 www . feria2ruedas . com

Biker Fest International ( 39th ) Lignano Sabbiadoro , IT • May 15-18 www . bikerfest . it

Tennessee Motorcycles & Music Revival Tennessee , US • May 15-18 www . motorcyclesandmusic . com

Distinguished Gentleman ' s Ride Worldwide • May 18 www . gentlemansride . com

Bike Shed Show London , GB • May 24-26 www . bikeshedmoto . com

Isle of Man TT IOM , GB • May 26-Jun 7 www . iomtt . com

Euro Bike Fest Pasohlavky , CZ • May 29-Jun 1 www . eurobikefest . cz

Americade ( 41st ) Lake George Village , NY , US • May 28-Jun 1 www . americade . com

Mecanic Show Pecquencourt Pecquencourt , FR • May 31-Jun 1 www . mcpecquencourt . fr

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years , impacting at all levels , but we believe we are best positioned to take advantage of any uptick in consumption ." The 2024 financial results ' highlights ' saw Harley deliver diluted EPS of $ 3.44 ; HDMC operating income of $ 278m for an operating margin of 6.7 %; HDMC global motorcycle shipments of 148,862 , down 17 % from prior year ; North America retail sales of Touring , Trike , and CVO up more than 8 %; dealer inventory levels of new motorcycles finishing the year down over 4 % year-over-year and HDFS operating income of $ 248m , up 6 % from prior year . However , the fourth quarter of 2024 saw delivery of a diluted EPS loss of - $ 0.93 ; HDMC revenue of $ 420m , down 47 % vs . prior year ; HDMC global motorcycle shipments of 14,010 , down 53 % from prior year ; global retail sales of new motorcycles down 15 % vs . prior year . For 2025 the Company expects HDMC revenue to be flat to down 5 % with operating income margin of 7.0 % to 8.0 % and HDFS operating income down 10 % to 15 %; diluted earnings per share flat to down 5 % and HDI capital investments of $ 225 to $ 250m . LiveWire electric motorcycle unit sales are forecast for the 1,000- 1,500 range with an operating loss of $ 70 to $ 80m . Those were the ' highlights '. The details ( taken more or less directly from the February 05 , 2025 release on ) were no less depressing . Fourth quarter consolidated revenue was down 35 %, driven by a revenue decline of 47 % at HDMC , partially offset by revenue growth of 4 % at HDFS . In the fourth quarter , the consolidated operating loss was $ 193m which compares to an operating loss of $ 21m in the prior year ' s period . For the full year , consolidated revenue was down 11 % compared to the prior year . This was driven by revenue decreases of 15 % at HDMC and by $ 12m at LiveWire , partially offset by a revenue increase of 9 % at HDFS . For the full year , consolidated operating income was down 47 % compared to last year . This was driven by an operating income decline of 58 % at HDMC , partially offset by a 6 % increase at HDFS . The full year operating loss at LiveWire was $ 110m , which was in-line with our expectations . Fourth quarter , global motorcycle shipments at HDMC decreased 53 % from a year ago , due to focus on dealer

Jochen Zeitz : Time runs out on his Hardwire five-year strategic plan at the end of 2025

channel de-stocking and market conditions . HDMC revenue was down 47 %, due to lower volumes and unfavorable mix , partially offset by higher pricing . Gross profit came in at a loss of $ 3m compared to gross profit of $ 181m in the prior year period . The result was additionally driven by negative operating leverage and adverse foreign exchange , partially offset by lower raw material costs and supply management . Operating expenses were $ 15m lower than a year ago . Operating loss was $ 214m in the fourth quarter compared to an operating loss of $ 44m in the prior period . For the full year , global motorcycle >>>

Income statements in THREE MONTHS ENDED TWELVE MONTHS ENDED $ 1,000s ( except share ) 2024 Q4 2023 Q4 2024 Q4 2023 Q4

8 AMERICAN MOTORCYCLE DEALER - APRIL 2025 www . AMDmag . com