If you didn’t know already, Harley-Davidson is in trouble. It all started when Harley’s annual report for 2024 revealed a revenue decline of more than 60%. Of course, media and public scrutiny followed thereafter, and this in turn set off a chain of events that have been hard to ignore since.

First, Trump’s latest tariffs came as a big blow to the American bikemaker. This was followed by the news of Jochen Zeitz, the company CEO, choosing to step down amid growing challenges. Soon after, a Harley-Davidson director resigned after expressing “grave concerns” about the company’s plight. And there doesn’t look to be an end in sight.

In the latest developments at the Milwaukee-based company, H Partners, Harley’s second-largest investor group, is preparing to remove three Harley-Davidson directors. The group holds a roughly 9% stake in the company.

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