Breaking News: Total Motorcycle just got off a call with new Indian Motorcycle CEO Mike Kennedy and we can share some juicy insider information about what’s coming down the road for the new Indian Motorcycle! Riders will be happy and not so happy as we have the good, bad and the ugly for Total Motorcycle readers right here.
Let’s address the big elephant in the room, Indian Motorcycle under Polaris is no more. It is now owned by private equity firm Carolwood LP from LA. Carolwood LP and state they: “focus on repositioning businesses that provide long-term value for our partners. Targets assets with significant repositioning potential, where risk and return are asymmetrical.” Sounds like motorcycle rider language to me! While other holdings are not publicly disclosed, you might know them from Pops Bagels LA and It’s Bagels. Maybe some cross-promotion potential in the future right there, after all, who doesn’t like a good bagel right? Kidding aside, it will raise quite a few eyebrows. Now the news is Polaris will retain a minority stake, but Carolwood controls the company.
We have seen other motorcycle brands sell to private equity firm’s, like Ridley Motorcycles. That didn’t go well so I’m personally hoping this goes better for the Indian Motorcycle as it’s a great brand with loads of history and tradition.
What about the CEO? After all, top down leadership is critical for any company to succeed.
Mike Kennedy is a motorcycle industry veteran, an avid motorcycle rider and has worked at other OEM’s and aftermarket companies (Vance & Hines Exhaust). Carolwood wanted to put in a CEO that knew about the motorcycle business as “they don’t know about the industry well enough.” If there is one thing I can say about Mike, he’s a straight shooter of a CEO and I highly respect that. Not everyone is going to like the direction a company is going but at least it’s in good hands as a fellow rider..
Well, that’s great news. I’m sure Indian Motorcycle fans will consider this good news as this isn’t a bean counter in charge or a car company exec.
So what’s Mr. Kennedy focusing on and what direction will he be taking Indian Motorcycle?
Let’s skip to one of the big announcements: Expect Indian Motorcycle to enter the TRIKE market very soon. He said there’s high profitability on Trikes. Considering Harley-Davidson’s Trikes are more expensive than the average car between $36,799 and $54,999 USD I would say so! Trikes are a niche market, they always have been, so sales numbers will matter.
Also he firmly states the NEW Indian Motorcycle will pass Harley-Davidson in #1 market share in cruisers, baggers and heavy touring bikes. That’s quite a the moon shot if so. More competition is always good.
As for key goals, it’s brand investment, marketing their DNA and merchandise. Sounds a lot like the H-D model that has been very successful for them. Also important that since Indian Motorcycle is only a motorcycle company now (his words not mine as since I noted above it’s owned by Carolwood and they own other companies) it can focus on the rider and their dealers better to build on trust, transparency and relationships.
Cost Savings. Well, you knew this was coming. Welcome to the ugly part.
- No FTR. Forget it. It’s done, stick a fork in it for the foreseeable future. Sorry. Move on. Thanks for buying one if you did.
- While other manufacturers are introducing affordable bikes under $9,000, not the new Indian Motorcycle brand. No affordable bikes, sorry. Buy pre-owned if you want affordable the CEO says. They will be focused on large sized heavy motorcycles (heavy bikes, heavy baggers, Trike, touring bikes). Lots of market share in more expensive motorcycles. Thank you.
- Surly Indian Motorcycle will be wanting new riders to flock to the brand? Another media outlet asked: “How are you going to attract new riders with lighter bikes”. The CEO reply: “We are NOT going to be an entry level motorcycle manufacturer. Even the 101 Scout is too big for new riders and we are not the answer for them. To keep the brand to a wider audience it’s product merchandise and goods. An affordable under $9,998 USD motorcycle would be a distraction to the company.” . Ouch, I felt that one as a fan of lighter bikes to get riders into he sport.
- Non-Traditional Urban Consumer? Sorry, move along. CEO says “Primary focus is aftermarket. Drive the marketing funnel from top to bottom.” At least you can buy an Indian Motorcycle T-Shirt, patch, jacket, boots, gloves and helmet and look cool downtown riding on your non-Indian Motorcycle I guess? That’s a win right, right?
Ok, that’s was the ugly.
Now the mixed news:
- Electric Motorcycles: “No, we are not working on electric bikes. But adding lots of technology into their motorcycles. Seamless technology that works.” That will make some riders happy, others not.
- Focus on US manufacturing. Too complex a manufacturing footprint under Polaris. (we will) Close Vietnam factory move that to USA. Open Minnesota facility (engine casting). I actually had a question from our readers live on X about that: “Why did they close the plant in Wisconsin completely costing (hundreds of) jobs? I was seriously considering getting one this spring until I saw that.” the CEO Answer: “Engine products has not stopped in the Wisconsin factory. It was never part of the deal to Buy Indian motorcycle. Polaris own facility. Move the line to Sprit Lake. Offering jobs to move to Spirit Lake, Idaho. No disruption to production.” Good for Idaho and bad for Vietnam and Wisconsin.
- How they are going to compete? Answer: Mexico, they are #1 heavy weight. Reintroduced multicolor logo. Merchandise branding. Leaning into brand and product. Weird answer but let’s hope Indian Motorcycle isn’t just an apparel and accessories company now.
- Move to Vance and Hines as a primary partner, moving away from S&S. I did mention the CEO worked at V&H right? Apparently they will be making a special V&H (challenger?) model in the future too.
For our Europe readers, a motorcycle magazine in CZ asked about Air cooled bikes in Europe, seems there will be no changes for the immediate future, so you’ll still get air cooled bikes.
That was quite a great Q&A session. I know I still have a lot of questions and concerns and I’m sure you do too. Overall, let’s be happy Indian Motorcycle is still around right!
I hope you enjoyed the insights into Total Motorcycle’s Indian Motorcycle Sold Now What? Q&A With CEO Mike Kennedy!
BTW, for the record, I sure hope Indian Motorcycle doesn’t ignore the new riders, the riders not looking for a $50,000 motorcycle and doesn’t ignore the largest motorcycle buyer segment, the up to $13k for a new bike with over 85% of buyers! If they do, well, that’s just a bad business move.
In reference: I asked “Many manufacturers are releasing small engine affordable motorcycles (400-500cc) into the market in the past two years. They are creating a lot of interest from new riders and as 2nd/3rd bikes. While Indian Motorcycle has the $9,999 USD bike, the 2026 Indian Scout Sixty Bobber, are there any plans to bring in bikes around the ~$5-6k USD mark to compete? Thank you, Mike @ Totalmotorcycle.com”
Last Years Total Motorcycle Poll for Indian Motorcycle’s reference:
Total Motorcycle ran a poll last year to our 430 million readers. Here is what the final results for from our question: “What do you think the average motorcycle should cost in 2025?”
$4000 – $8000 = 32.4%
$8000 – $13000 = 52.9%
$13000 – $16000 = 10.3%
Over $16000 = 4.4%
That is quite a lot of rider market share opportunity to completely alienize. I’ve been a long time fan of Indian Motorcycle myself and TMW has been media for Indian Motorcycle now for the past 3 generations. I really enjoy the quality of workmanship, paint and affordability on some models. I do wish them the best.
Check out our very popular 2025 motorcycle model review guides as well as our 2026 Motorcycle Model Review guides right here! Oh, and don’t forget the 2025 and 2026 Indian Motorcycle Guides too!!
NEW ERA OF FREEDOM FOR INDIAN MOTORCYCLE BEGINS AS CAROLWOOD LP OFFICIALLY ASSUMES OWNERSHIP CONTROL OF AMERICA’S FIRST MOTORCYCLE COMPANY
Closure of Acquisition Agreement with Polaris Inc. Opens Dynamic New Chapter for Iconic American Brand, Focused on Domestic Manufacturing and Intensified Clarity and Focus as a Stand-Alone Business.
MINNEAPOLIS – February 9, 2026 – Indian Motorcycle, America’s First Motorcycle Company, announced today that Carolwood LP has officially closed its agreement with Polaris to acquire the historic American motorcycle business. The deal’s closure marks the beginning of a dynamic new era for the iconic American brand as a fully independent business focused solely on motorcycles.
Under the leadership of new CEO and motorcycle-industry veteran, Mike Kennedy, Indian Motorcycle embarks on its next chapter as a stand-alone company, intent on building upon the brand’s significant momentum and elevating it to an even higher level of global relevance and success. 2026 marks the 125th Anniversary of Indian Motorcycle, a milestone that only increases the timeliness and significance of this historic transition.
“It’s an incredible honor to take the helm of Indian Motorcycle as it celebrates its 125th Anniversary, empowered by a sense of gratitude and opportunity, and the support and ambition of a well-resourced, highly motivated ownership team,” said Kennedy, CEO for the Indian Motorcycle Company. “2026 will be a special year to honor our history, but more importantly, to drive the brand into the future with a renewed level of commitment, focus and clarity that can only be found as a stand-alone company.”
Kennedy and Carolwood are committed to a long-term strategy centered on delivering an even better ownership experience for riders and stronger, more focused support for the dealer network. This means concentrating investment in the motorcycles, technologies, and experiences riders value most. Sharpening performance, elevating craftsmanship, and deepening the connection to the unmistakable character that defines Indian Motorcycle. The result is a brand that shows up with greater clarity, higher quality, and a stronger connection to the riding community. Today and for the road ahead.
“We will achieve our vision through a deeper level of differentiation, leaning in on what makes our brand unique, and with products that possess a style, craftsmanship and performance quality that is uniquely justified by our historic legacy and spirit of innovation,” said Kennedy.
Indian Motorcycle’s future will be built alongside its global dealer network. The company is committed to delivering the number one dealer experience in the industry – partnerships built on trust through transparency.
“Dealers are our most important partners, and we will judge our business based on the success of our dealers,” said Kennedy. “We intend to be extremely collaborative with our dealers, actively listening to their feedback and incorporating it into our planning and decision-making, not only in terms of dealer operations, but also product development and marketing.”
The finalized acquisition agreement includes approximately 900 employees that now transition to become part of the new Indian Motorcycle Company. Indian Motorcycle will base all manufacturing out of the company’s existing facilities in Spirit Lake, Iowa, and Monticello, Minn., while continuing its industrial design and technology and product development out of its existing research and development centers in Burgdorf, Switzerland and Wyoming, MN. Sales, service and support for Indian Motorcycle dealers and customers will continue seamlessly under new ownership and leadership.
“America’s first motorcycle company will put America first,” said Kennedy. “Our brand and business will be grounded in our American identity and more importantly, American manufacturing. ‘Built in America’ is not a slogan. It’s a competitive advantage, and we intend to use it.”
ABOUT INDIAN MOTORCYCLE
Indian Motorcycle is America’s First Motorcycle Company. Founded in 1901, Indian Motorcycle has won the hearts of motorcyclists around the world and earned distinction as one of America’s most legendary and iconic brands through unrivaled racing dominance, engineering prowess and countless innovations and industry firsts. Today that heritage and passion is reignited under the ownership and brand stewardship of Carolwood LP, a private equity firm based in Los Angeles.
Indian Motorcycle recognizes the importance of local, state and federal laws that regulate exhaust and noise emissions and is committed to developing performance parts that allow motorcycle enthusiasts to modify their vehicles in a safe and responsible manner for racing applications. Exhaust Emissions / Safety – Federal and many state laws prohibit the removal, modification, or rendering inoperative any part installed on motor vehicles manufactured by Indian Motorcycle affecting exhaust emissions or safety on motor vehicles manufactured for use on a public street or highway. Violation may result in fines. Noise Emissions – Certain Indian Motorcycle performance exhaust parts are subject to noise-related usage restrictions where non-competition street use may violate federal noise limits. Where applicable, Indian Motorcycle performance exhaust parts are affixed with a label that provides, “This product is designed for use on closed course competition motorcycles only and does not conform to U.S. EPA noise emission standards. Use on motorcycles subject to EPA noise regulations constitutes tampering and is a violation of Federal law unless it can be shown that such use does not cause the motorcycle to exceed applicable Federal standards.”
Michael Le Pard (“Mr. Totalmotorcycle”) is the Founder of Total Motorcycle, the world’s largest motorcycle information site, trusted by over 430 million riders since 1999. With over 34 years of experience in motorcycles, gear and rider culture, he has built a global community dedicated to empowering and inspiring motorcyclists.
Total Motorcycle remains his passion project. Combining expert research, hands‑on knowledge and a commitment to helping riders make informed decisions about bikes, gear and safety worldwide.
