Horsepower Financial Services has expanded its motorcycle leasing program to include Benelli and Benda, two brands under the Keeway America umbrella. The move broadens Horsepower’s reach and offers more options to powersports dealers and riders seeking alternatives to traditional motorcycle financing.
The new partnerships build on existing agreements with CFMOTO, Moto Morini, and Royal Enfield, positioning Horsepower as a growing player in credit-free leasing options. The company’s 36-month, FICO-free leasing model is fully digital and available to dealers around the clock, offering real-time approvals and streamlined add-ons, such as GAP coverage and vehicle protection.
“These brands align perfectly with our mission of helping more riders get on the road and helping more dealers close deals — especially in a market where access to financing can be a major barrier,” says Leanne Richards, vice president of client development at Horsepower Financial Services.
The leasing program targets underserved customer segments and aims to simplify the transaction process for dealers. Riders benefit from lower monthly payments, simplified paperwork, and fast delivery — without the complexity or credit checks required by traditional lenders.
Horsepower Financial Services offers an automated leasing platform designed to support dealer growth and increase customer access. For more information, visit horsepowerfinancial.com.
KTM AG has officially resumed full production operations at its Mattighofen and Munderfing facilities in Austria, marking a significant milestone for the manufacturer after a challenging start to the year. The restart comes just in time for the launch of KTM’s highly anticipated 2026 off-road lineup, underscoring the company’s refocusing on quality, global delivery, and dealer support.
As of July 28, all four production lines are operating on a full-time, five-day schedule, with no summer shutdown planned. The return to full capacity involves around 1,000 employees and reflects KTM’s ability to reactivate supply chains and meet global demand across its core brands — KTM, Husqvarna, and GasGas.
Production is prioritizing the off-road range, including the latest motocross and enduro competition models, as well as the new LC4 platform. This includes the KTM 690 Enduro R and SMC R, as well as the Husqvarna 701 Enduro and Supermoto models.
KTM AG CEO Gottfried Neumeister credited the company’s workforce and dealer network for their support during the ramp-up:
“The restart of production gives us the stability we need to focus fully on quality, customer proximity, and further development. Special thanks go to our employees for their dedication, flexibility, and team spirit throughout one of the most challenging phases,” says Neumeister.
FULL PRODUCTION, MODEL UPDATES
KTM’s restart signals good news for U.S. dealers who have been waiting for consistent inventory levels and product flow. The company emphasized that global delivery capabilities are fully restored, and dealer support is being strengthened through a new Dealer Excellence Center — a centralized hub designed to provide structured assistance and improve customer satisfaction.
Recruitment efforts are also ramping up in Austria, with new hires sought in IT, finance, marketing, and production roles to support long-term growth and innovation.
Coinciding with the production restart, KTM has unveiled the official release timeline for its 2026 off-road models. Designed with input from factory racing programs, the new models prioritize class-leading performance, rider adjustability, and seamless tech integration.
The 2026 range introduces enhancements in chassis design, electronics, and connectivity, targeting both serious racers and weekend warriors. KTM says the new generation represents its most advanced off-road bikes yet.
WHAT’S AHEAD
As production stabilizes and new models hit the market, KTM is making a clear statement: it’s back at full throttle. For U.S. dealers, this means improved availability, renewed marketing momentum, and access to the latest technology in the off-road segment.
PIERER MOBILITY POST H1 RESULTS
Pierer Mobility AG, KTM’s parent company, recently reported preliminary results for the first half of 2025, signaling a return to financial health following the successful restructuring of KTM AG and two subsidiaries. Despite a sharp year-over-year revenue drop of nearly 58% to €425 million, the company posted strong profitability metrics due to a €1.19 billion restructuring gain.
Sales rebounding
The group sold 50,334 motorcycles wholesale in H1 2025, down from 115,145 units in the same period a year ago. Including contributions from its Indian partner Bajaj Auto, total motorcycle sales reached 85,284 units. While this represents a 42% decline year-over-year, retail demand remained robust, with over 100,000 motorcycles sold to end customers — beating expectations and significantly reducing inventory levels.
Sales in India, supported by Bajaj Auto, increased by more than 8% compared to H1 2024, underscoring the brand’s continued strength in key global markets.
Profitability surges - Total equity turned positive at €533 million as of June 30, with the equity ratio reaching 27%. Net debt was slashed by over half to €756 million, compared to €1.64 billion at the end of 2024.
Workforce - The group had 4,303 employees as of June 30, representing
a nearly 29% decrease from the previous year. Investments in H1 dropped by 75% to €35 million.
Outlook - Despite reduced production and disruptions related to restructuring, PIERER Mobility remains confident in its global positioning. The company attributes its positive turnaround to streamlined operations and strong retail performance. Its full half-year report will be published on Aug. 28.
Harley-Davidson exceeded revenue expectations in Q2 2025, but profits and motorcycle sales fell sharply as the company navigates soft demand, elevated tariff costs, and cautious consumer spending.
While revenue came in ahead of expectations for Wall Street investors, Harley’s profit margins were under pressure. Global shipments declined 28%, and the company’s net income fell to $108 million — down over 50% year-over-year.
CEO Jochen Zeitz said retail trends improved sequentially each month through Q2 and into July, despite overall softness:
“If you look back all the way from February, retail trends for new motorcycle unit sales improved every month. We expect that to continue in July as well — with significant improvement expected.”
Harley continued cutting dealer inventory, now 28% lower than a year ago. Zeitz added:
“We expect to end the year with very healthy levels of dealer inventory… definitely a double-digit decline [YoY] is our target.”
Tariffs & withheld guidance
Tariff-related costs totaled $13 million in the quarter, representing a projected $130–$ 175 million impact for the full year. Management again withheld full-year guidance for the core motorcycle business due to uncertainty around global tariffs and consumer spending patterns.
KKR & PIMCO Deal Unlocks $1.25 Billion
Harley sold a 4.9% stake in its financial services arm (HDFS) to KKR and PIMCO, unlocking $1.25 billion in cash. The deal will fund $450 million in debt reduction and $500 million in share repurchases later this year. CFO Jonathan Root explained the 4.9% stake was designed to remain under FDIC ownership caps:
“The 4.9% threshold is something that the FDIC has a comfort level with… Beyond that, it becomes more complex from a regulatory standpoint.”
Electric segment falls
LiveWire’s deliveries plummeted 65% to just 55 units. Revenue was $6 million, and Harley capped future investment at a $100 million credit facility. Full-year LiveWire losses are expected to reach up to $69 million. Zeitz acknowledged infrastructure and policy headwinds:
“Charging infrastructure is still lagging, and the lack of purchase incentives makes it hard to compete with internal combustion.”
Model year shift
Harley is pulling forward its model year launch to this fall to reinvigorate showroom traffic. Root says:
“You’ll continue to see special iterations and vehicle drops throughout the year. It helps us drive excitement and extend the selling season.”
New product momentum
Demand for recent limited releases, such as the Gray Ghost Softail and CVO Road Glide RR, has been strong. Harley plans to expand its reach with more affordable and smaller-displacement models in 2026.
LOW-COST GAMECHANGER
During the Q2 call, Zeitz confirmed a new entry-level model called the Sprint, which is expected to launch in 2026 with a starting MSRP below $6,000. The model will be showcased to dealers in October.
He emphasized the heritage and appeal angle:
“Inspired by our heritage and the spirit of the iconic Harley‑Davidson Sprint motorcycle, this new bike embodies boldness, irreverence and fun, capturing the rebellious energy that defines the Harley‑Davidson experience.”
He further noted:
“This bike has been in development since 2021… We believe this motorcycle will not only be highly accessible, but also profitable, marking a significant step forward in driving Harley‑Davidson’s future profitable growth and opening up a new path… in future years for its key markets.”
Related reports add that the Sprint will revive a name used in the 1960s under Harley’s Aermacchi partnership and reflect a broader plan to release both the Sprint and a second entry-level cruiser in 2026.
TAKEAWAY FOR DEALERS
Upside: Upcoming affordable entry-level products (Sprint), new CEO starts Oct. 1.
Pressures: Declining consumer demand, compressed margins, tariff costs, and uncertain full-year outlook.
Ekho, a company providing digital vehicle sales infrastructure, recently announced it completed a $17.3 million seed and Series-A funding round.
The $15 million Series A was led by Activant Capital, with participation from JPMorgan Payments, Winnebago Industries, Y Combinator, and other strategic investors, including former Tesla executives.
Ekho enables OEMs, dealerships, and marketplaces to offer a seamless online checkout experience — completing all aspects of the vehicle transaction digitally, from financing and insurance to tax remittance and registration. Clients can go live in days, and Ekho’s modular platform integrates into existing sales processing workflows, helping partners unlock incremental sales, reduce overhead, and offer an improved vehicle buying experience.
Co-founders Rowan Mockler and Chris Howard — who met while studying computer science at Stanford University — say they plan to use the funding to scale their team in response to surging demand.
“In just a year, our platform has helped OEMs and their dealers generate tens of millions of dollars in online revenue, while delivering shopper CSAT scores well above traditional buying — proving that the demand is real and the opportunity is massive,” says Mockler.
Ekho’s platform includes three core configurations: Omni, which is for OEMs with dealer networks; Access, for brands without U.S. distribution; and Dealer, for individual dealerships looking to digitize their sales flow.
Ekho launched in beta in 2024 with its earliest customers. Since then, the company has grown and now powers the online sales channel for more than 20 OEMs and their dealer networks — including four publicly traded manufacturers and brands generating billions of dollars in global gross merchandise value.
Polaris Inc. reported second-quarter 2025 revenue of $1.85 billion, down 6% year-over-year, citing planned shipment reductions, softer industry demand, and elevated promotional spending. Still, the company gained market share in key segments, generated strong free cash flow of $290 million, and touted the early success of several new product introductions.
Net loss for the quarter was $79 million, driven by a $52.6 million goodwill impairment in the On Road segment and a $49.4 million write-down on a strategic investment. On an adjusted basis, earnings came in at $0.40 per share, ahead of Wall Street expectations but down significantly from $1.38 in Q2 2024.
Polaris retail performance remained resilient. Off-road vehicle (ORV) retail grew 1%, outpacing the broader market, while Indian Motorcycle retail was up low double digits — despite a mid-teens decline in the heavyweight motorcycle segment overall. Marine segment revenue jumped 16% on strength from new Bennington pontoons, though margin pressure from product mix and inflation weighed on profitability.
“Despite the top-line decline, we executed well and outperformed in retail,” says Polaris CEO Mike Speetzen during the earnings call. “We gained share in every segment — off-road, on-road, and marine — and generated our highest Q2 operating cash flow in over five years.”
RANGER 500 AND INDIAN MOTORCYCLE
Polaris highlighted the recent launch of the 2025 Ranger 500, a simplified, $9,999 entry-level utility side-by-side designed to attract cost-conscious buyers while delivering strong dealer margins.
“The Ranger 500 hits a sweet spot — value-oriented customers, particularly in rural and utility use cases,” says Speetzen. “We’ve optimized it with a leaner feature set but retained Polaris capability. And with over 30 accessories, it’s an upsell opportunity for our dealers.”
Meanwhile, the Indian Motorcycle brand continues to outperform industry trends. The low double-digit retail growth was driven by strong demand for Scout and Chief models, as well as momentum from the 2025 Indian 101 Scout launched earlier this year.
TARIFFS, COST CONTROLS, AND INVENTORY MANAGEMENT
Tariffs continue to weigh on margins. Gross margin dropped 223 basis points to 19.4%, primarily due to higher promotional spending and $47 million in tariff-related costs.
“Tariffs are still a drag. While some relief came through midyear policy shifts, we’re still looking at $180 to $200 million in gross tariff impact for 2025,” says Speetzen. “We’re aggressively diversifying our supply base, and on track to cut China-sourced components by 35% by year-end.”
Operating expenses increased by 20% to $395 million, primarily due to one-time impairments, as well as higher engineering, R&D, and administrative costs.
Dealer inventory levels are stabilizing, with side-by-side and ATV inventories approaching target ranges.
“We’re seeing healthy, rational inventory levels at retail. That’s allowing us to reaccelerate model-year changeovers and help dealers prepare for Q4 and 2026 launches,” Speetzen adds.
Q&A HIGHLIGHTS
Q: How is Polaris thinking about future pricing and promotional strategies, especially in Off-Road?
Speetzen: “We’re balancing price discipline with competitive response. Promotions have ticked up, but not irrationally. We’ve been offering surgical — targeted offers and low-rate financing. We’re still pricing for value and margin.”
Q: What gives you confidence in Marine, despite recent industry softness?
CFO Bob Mack: “Bennington’s new 2025 lineup has been a hit. Consumers are opting for premium configurations, and we’re gaining share even in a contracting market. Margins will improve as we optimize product mix.”
Q: Any update on powersports dealer sentiment heading into the back half?
Speetzen: “Dealer engagement remains strong. They’re excited about the new Ranger 500, refreshed Sportsman 570, and what’s coming for Q4. Our field teams are focused on training, accessories, and margin support.”
Q: Will we see more product innovation in the second half?
Speetzen: “Yes. We’re not slowing down. Our model-year 2026 launches are already locked and loaded. Expect new entries in Off-Road and at least one surprise in On-Road before year-end.”
OUTLOOK
While the company did not issue full-year earnings guidance due to macro uncertainty, Polaris expects Q3 revenue in the range of $1.6–$1.8 billion, with adjusted EPS potentially negative due to continued tariff headwinds and incentive compensation.
“We’re executing on what we can control — innovating, managing costs, and supporting dealers,” Speetzen says. “We know the environment is choppy, but we’re focused on long-term value creation.”
Polaris reaffirmed its goal of achieving $40 million in lean-related savings by 2025, with over half of the target already realized.
Blackpurl has officially launched Blackpurl 2, its next-generation, cloud-native dealership management platform, designed to help dealers grow faster using the teams they already have.
Built with direct input from dealers across the powersports, trailer, RV, golf car, and equipment industries, designers of Blackpurl 2 say it delivers a cleaner, more intuitive interface with faster performance, flexible access from any device, and role-based workspaces tailored for each department. The company’s goal is to help dealers streamline operations, reduce training time, and enhance the customer experience.
“Every part of the new layout is shaped by real user feedback,” says Lee Pearce, lead designer. “It’s clear,
simple, and feels familiar from the moment you log in.”
The new platform includes “lightning-fast” search, mobile-friendly quoting and updates, and intelligent prompts that guide staff through tasks with fewer errors. Enhanced integrations include QuickBooks Online, upgraded website feeds with photos, and multi-location support with single sign-on for dealer groups.
“Blackpurl 2 is about powering intentional growth,” says CEO Mike Wyrzykowski. “It gives teams the tools to close more deals and create more loyal customers, with less friction.”
Available now, Blackpurl 2 features a 30-day activation for new dealerships. For more information or to request a demo at blackpurl.com.