This week in US Powersports business.
2027 Kawasaki MULE SX Side X Side
The iconic Kawasaki MULE™ family of side x sides have a machine for whatever need you may have on the job site with the compact MULE SX™ lineup.
The 2-passenger MULE SX takes many of the same styling cues from its larger siblings in the MULE PRO line of side x sides. This compact workhorse easily fits in the bed of a full-size pickup truck for easy transport. MULE SX models are all powered by a single-cylinder, 401cc 4-stroke engine and are equipped with a steel cargo bed with a textured floor. This capable work companion also offers a 1,100-lb towing capacity. The MULE SX line is available in four configurations, starting with the standard MULE SX two-wheel-drive model up to the MULE 4×4 XC LE model. Select four-wheel drive models from the 2027 Kawasaki MULE SX line of side x side vehicles are available with digital fuel injection, making them
even more user-friendly. The MULE SX 4×4 ST model includes the same capabilities of the rest of the MULE SX lineup and is powered by a 401cc 4-stroke carbureted engine.
To top it off, Kawasaki MULE side x sides are confidently backed by the Kawasaki 3-Year Limited Factory Warranty.
| 2027 Model Variations | |
| Kawasaki MULE SXColor: Timberline Green, Bright WhiteMSRP: $7,799Availability: Summer 2026 | Kawasaki MULE SX 4X4Color: Timberline Green, Bright WhiteMSRP: $9,199Availability: Summer 2026 |
| MULE SX 4X4 ST (Carburetor)Color: Timberline GreenMSRP: $8,599Availability: Summer 2026 | MULE SX 4X4 XCColor: Metallic Sierra BlueMSRP: $9,499Availability: Summer 2026 |
| MULE SX 4X4 XC LEColor: Metallic Onyx BlackMSRP: $10,699Availability: Summer 2026 |
Harley-Davidson Delivers First Quarter Financial Results
Harley-Davidson, Inc. (“Harley-Davidson,” “HDI,” or the “Company”) (NYSE: HOG) today reported first quarter 2026 results.
“We’re pleased with our first quarter results, which reflect actions we’ve taken to drive demand and improve dealer health. We saw a 14% increase in retail performance in North America, which drove global retail sales growth of 8%, and achieved a 22% year-over-year reduction in global dealer inventories, as we continue to prioritize aligning wholesale with retail demand. We are energized by the positive early reception to our new RIDE marketing platform, and excited to activate against our new growth strategy, Back to the Bricks,” said Artie Starrs, President and CEO, Harley-Davidson.
First Quarter 2026 Highlights and Results
- North American retail motorcycle sales of 23,803 units, up 14% vs. prior year
- Global retail motorcycle sales of 33,507 units, up 8% vs. prior year
- Global dealer inventory levels of new motorcycles ended Q1 ’26 down 22% vs. end Q1 ’25
- HDMC global motorcycle shipments of 37,295, down 3% vs. prior year
- HDMC revenue of $1.1 billion, down 2% vs. prior year
- HDFS operating income margin of 19.9%
- Delivered diluted EPS of $0.22
- Repurchased $128 million of shares (6.6 million shares) on a discretionary basis
- Incurred $15 million of costs related to strategic changes, including termination benefits and other restructuring charges
LiveWire Group, Inc. Reports 2026 First Quarter Financial Results
LiveWire Group, Inc. (“LiveWire” or the “Company”) (NYSE: LVWR) today reported first quarter 2026 results.
“We ended the first quarter of 2026 with an 86% increase in revenue over prior year, driving improved gross profit and operating loss, and a 25% improvement in free cash flow, compared to first quarter 2025. We also maintained our position as the number one retailer of U.S. electric on-road motorcycles1. With the upcoming launch of the S4 Honcho™, we are excited about the continued positive strides to be made in the business in the remainder of 2026,” said Karim Donnez, CEO, LiveWire.
First Quarter Highlights and Financial Results
- Electric Motorcycle unit sales increased 176% over first quarter 2025 with revenue increasing 236%.
- STACYC unit sales increased 101% over first quarter 2025 with revenue increasing 60%.
- Consolidated operating loss decreased by $3.0 million from same quarter 2025 driven by an improvement in gross profit of $1.6 million and decrease in consolidated selling, administrative and engineering expense of $1.4 million.
- Reduced net cash used by operating activities by 26% driving a 25% improvement in free cash flow as compared to 2025.
- Market share of 76% in the U.S. electric motorcycle 50+kilowatt on-road EV segment1.
- Targeted production of the S4 Honcho™ continues to be in Spring 2026.
Massimo Group Launches Sentinel 770 HVAC as Part of Sentinel Product Line Targeting Approximately US$10 Million in 2026 Revenue
Massimo Group (NASDAQ: MAMO) (“Massimo” or the “Company”), a U.S.-based provider of utility-focused powersports vehicles, today announced the launch of pre-orders and initial dealer orders for its new Sentinel 770 HVAC UTV, the latest addition to the Company’s Sentinel HVAC product line.
The Sentinel 770 HVAC builds on the successful introduction of the Sentinel 570 HVAC and represents the next step in Massimo’s strategy to expand its lineup of fully enclosed, climate-controlled utility terrain vehicles at accessible price points.
The Sentinel HVAC product line is a newly introduced extension of Massimo’s established utility vehicle manufacturing platform and did not contribute meaningful revenue in the prior year. Based on current dealer orders, delivery schedules and market interest, Massimo currently expects the Sentinel product line to generate approximately US$10 million in revenue in 2026, subject to production execution, customer demand, delivery timing and overall market conditions.
Massimo believes the Sentinel Series may become an important near-term revenue driver as the Company continues to expand beyond its traditional product offerings and develop higher-value, feature-rich vehicle platforms.
The Sentinel Series targets a significant gap in the UTV market by offering fully enclosed, factory-integrated heating and cooling systems at price points below US$20,000, compared to comparable HVAC-equipped vehicles from other OEMs that are often priced above US$30,000. The Company believes this pricing strategy opens year-round cabin comfort to a broader customer base, including budget-conscious consumers, commercial operators, municipalities, agricultural users, property owners, and fleet buyers.
“We believe the Sentinel product line represents an important step in Massimo’s product evolution and a meaningful opportunity to expand our revenue base,” said Quenton Petersen, Chief Executive Officer of Massimo. “The Sentinel 570 HVAC helped validate demand for premium, climate-controlled UTVs at a more accessible price point, and the launch of the Sentinel 770 HVAC gives our dealers another compelling product to serve both consumer and commercial buyers. Based on current visibility, we expect the Sentinel line to generate approximately US$10 million in revenue in 2026.”
The Sentinel 570 HVAC and Sentinel 770 HVAC feature fully enclosed cabins with integrated heating and cooling systems, upgraded molded seating, dual touchscreen displays, and independent cooling functionality that allows remote cabin pre-conditioning. This independent cooling capability enables users to remotely activate the system and pre-cool the cabin before operation, providing an important comfort advantage during hot summer months.
The cooling system can utilize AGM or lithium battery configurations, enabling hours of operation without immediate charging. Massimo believes this functionality can improve comfort, productivity, and vehicle utilization in high-temperature environments, particularly across agriculture, ranching, industrial operations, campus mobility, public works and municipal service applications.
The newly launched Sentinel 770 HVAC is expected to be available for delivery later this month, and Massimo has already secured orders from dealers. The Company has also observed increasing interest from fleet buyers seeking cost-effective, all-weather mobility platforms that can support consistent use across varying environmental conditions.
“Fleet and commercial customers are increasingly looking for practical mobility solutions that combine durability, comfort and value,” Petersen added. “By offering factory-integrated heating and cooling at an attractive price point, we believe the Sentinel 570 HVAC and Sentinel 770 HVAC position Massimo to capture opportunities with dealers, commercial buyers, and fleet operators who need year-round utility without the premium price tag traditionally associated with HVAC-equipped UTVs.”
Massimo’s Sentinel HVAC line reflects the Company’s broader strategy of leveraging its existing vehicle platform to introduce differentiated product lines that address underserved market segments. While the Company continues to evaluate additional technology applications across its vehicle portfolio, including intelligent and automated vehicle capabilities, Massimo’s near-term focus remains on scaling commercial opportunities for the Sentinel 570 HVAC and Sentinel 770 HVAC.
Through this phased product strategy, Massimo is working to strengthen its dealer network, expand fleet channel opportunities, and build a more diversified product portfolio supported by new revenue streams.
Harley-Davidson Announces “Back to the Bricks” Strategic Plan to Restore Performance and Deliver Profitable Growth
Harley-Davidson, Inc. (“Harley-Davidson” or the “Company”) (NYSE: HOG) today announced “Back to the Bricks,” its new strategic plan designed to restore the Company’s performance and deliver profitable growth.
“Having defined the motorcycle industry for more than 123 years, Harley-Davidson remains one of the world’s most iconic and respected brands,” said Artie Starrs, President and CEO, Harley-Davidson. “Back to the Bricks builds on our core strengths and competitive advantages, harnessing the passion of our riders to deliver profitable growth for the Company and both our dealers and shareholders. This next chapter in Harley-Davidson’s evolution is already underway, and early momentum reinforces our confidence in the significant opportunities ahead. As we drive towards this new phase of growth, we remain committed to the craftsmanship and dedication that define our brand – while delivering meaningful value to the Company for our riders, dealers, and shareholders alike.”
Back to the Bricks is built on five key pillars:
- Deep appreciation of Harley-Davidson’s competitive advantages and legacy: The Company’s iconic brand, diversified and powerful revenue channels, and best-in-class dealer network provide a powerful foundation for growth.
- Renewed commitment to exclusive dealer network to drive enterprise profitability: Harley-Davidson’s dealers are a competitive advantage. The Company is planning actions to enable dealers to double profitability in 2026 and then double it again by 2029.
- Immediate actions to recapture share in areas where Harley-Davidson has right to win: Harley-Davidson has strong legacy equity in existing markets including new motorcycles, used motorcycles, Parts & Accessories, and Apparel & Licensing. The Company’s new strategy is focused on positioning the Company to regain share and drive meaningful volume growth in categories where it benefits from credibility, scale, and deep rider connection.
- Strong financial position with a path to stronger free cash flow and EBITDA margin: Cost and restructuring actions already underway support a path to stronger free cash flow and EBITDA margin over time.
- Bolstered management team with balance of fresh perspectives and institutional knowledge: Harley-Davidson has made a number of leadership appointments that support the Company as it leverages its innate strengths.
Financial Targets
The Company is targeting more than $350 million in EBITDA in 2027 for Harley-Davidson Motor Company (HDMC), with additional future upside through execution against Harley-Davidson’s strategic priorities.
Over the medium term, Harley-Davidson is targeting:
- Mid-single-digit CAGR for HDMC retail unit growth
- HDMC gross margin of 25-30%
- Mid-single-digit CAGR for HDMC Parts & Accessories and Apparel & Licensing growth
- HDMC operational expenditures of less than 20% of sales
- HDMC EBITDA margin of 10-12%
Webcast
Harley-Davidson will discuss the Company’s strategic plan, first quarter financial results, developments in the business, and updates to the Company’s outlook on an audio webcast at 8:00 a.m. CST today. Webcast participants should log-on and register at least 10 minutes prior to the start time and can access the slide presentation here: https://investor.harley-davidson.com/events-and-presentations/default.aspx. A replay of the audio webcast will be available approximately two hours after the call concludes.
First Quarter 2026 Financial Results
In a separate press release, Harley-Davidson today reported first quarter 2026 financial results and provided updates to the Company’s outlook. The press release and supporting slides can be accessed at http://investor.harley-davidson.com/news-and-events/events-and-presentations.
Husqvarna Mobility announces new-look motocross line-up for 2027
Husqvarna Mobility is excited to unveil its 2027 motocross line-up. The complete range, from the TC 50 through to the FC 450, is expertly assembled around white frames and finished with a fresh new look that underlines the brand’s progression. The competition-focused line-up includes both 2-stroke and 4-stroke options, delivering exceptional motocross performance for riders of all abilities.
For 2027, the complete motocross range is updated with distinctive aesthetics. The light and agile chromium-molybdenum frames are now powder-coated in white, creating a clean and modern identity. Combined with bodywork colours inspired by the brand’s Swedish roots, every machine is designed to stand out on the start line.
Built around proven platforms, the 2027 line-up continues to feature advanced chassis and suspension technology for precise handling, stability, and rider comfort. The latest WP XACT suspension components, combined with carefully refined ergonomics, contribute to the highest level of feedback and control across a wide range of riding conditions, from competitive track use to recreational riding.
Across the line-up, powerful and efficient engines deliver smooth and controllable power, making each model both competitive and accessible. Including a choice of three minicycles for young riders through to full-size machines for adults, the range is designed with a focus on ease of use and consistent, reliable performance across a variety of conditions.
The 2027 full-size motocross line-up from Husqvarna Mobility comprises:
2-stroke range
TC 125
TC 250
TC 300
4-stroke range
FC 250
FC 350
FC 450
Technical highlights
- New white frame and fresh graphics create a distinctive look
- Latest WP XACT suspension offers exceptional damping and performance
- Race-tested components from Brembo, ProTaper, Twin Air, and ODI
- Dunlop Geomax MX34 tyres deliver unrivalled grip on all surfaces
- Throttle Body Injection (TBI) on the 2-stroke engines ensures class-leading rideability
- 4‑stroke models feature Quickshifter, traction control, and launch control
- Two engine maps selectable from the Multifunctional Map Select Switch on all models
The 2027 minicycle line-up from Husqvarna Mobility comprises:
TC 50
TC 65
TC 85 (17“/14“ and 19“/16“ wheel options available)
Technical highlights
- New white frame and fresh graphics to match the full-size machines
- Easily adjustable WP XACT forks and XACT PDS shock offers superior damping and comfort
- MAXXIS MAXXCROSS MX-ST tyres provide exceptional stability and grip through every turn
- The ergonomics on the TC 50 and TC 65 can be adjusted easily as riders grow
- Quality race-tested components from Formula, Galfer, Excel, Neken, and ODI
To complement the latest line-up, an extensive range of Technical Accessories and Apparel allows riders to personalise their machine and create a unique look to suit their individual style.
The 2027 motocross and minicycle range will be available at authorised Husqvarna Mobility dealerships from May onwards. For full details on pricing and availability, please refer to your national Husqvarna Mobility subsidiary or importer.
Husqvarna Mobility’s offroad models are covered by the Premium Manufacturer’s Warranty in selected territories. This policy provides 12 months of warranty coverage, offering added peace of mind for customers. When servicing and prescribed service intervals are completed by an authorised Husqvarna Mobility dealership, the warranty enhances the long term value of the motorcycle.
